Tax Firm CohnReznick to Add $8B West Coast-Based Wealth Practice
CohnReznick, a New York-based tax, accounting, and business consulting firm, has boosted its wealth management services with the acquisition of the Aldrich Group of Companies of Lake Oswego, Ore. The deal is slated to close in mid-December.
With the move, CohnReznick will add Aldrich Wealth, a fee-based registered investment advisor with about $8 billion in assets under management and advisement, as well as Aldrich CPAs + Advisors. Altogether, Aldrich adds about 48 partners and more than 500 employees across offices in California, Colorado, Oregon, Utah and Washington to CohnReznick.
The Aldrich companies will also take on the CohnReznick name upon the deal closing, according to a spokesperson.
Aldrich Wealth, which has about 45 employees, will become the wealth platform for CohnReznick’s existing wealth division, which works with families and small businesses across investment management and insurance. The Aldrich team will offer services including investment management, financial and estate planning, family office and corporate retirement plan consulting.
CohnReznick CEO David Kessler said in a statement that the wealth division will create “an important new avenue for growth and expand the solutions we can bring to clients.”
CohnReznick did not immediately respond to a request for comment on whether the Aldrich firms would take on the CohnReznick name.
There has been an increased push toward wealth and tax tie-ups in recent years as firms seek to create client referral channels while expanding wallet share of existing clients.
Aldrich Wealth was founded in 1998 as an affiliate of Aldrich CPAs + Advisors, which was founded in 1973. The division was “born out of a recognition that long-time business clients were experiencing liquidity events and weren’t satisfied with the money management options available to them,” according to the firm’s website.
In the acquisition announcement, Aldrich Wealth CEO Heather Wonderly said joining CohnReznick “gives us the opportunity to build on the highly personal, fiduciary approach our clients value while expanding the resources and capabilities we can bring to individuals, families, business owners, and retirement plan sponsors.”
The firm has been acquisitive in tax and accounting in the past year, adding offices in Houston, Minneapolis, San Francisco, Tampa and Tallahassee, Fla. and Richmond, Va.
The moves have come after CohnReznick received a minority investment from private equity firm Apax Partners in February 2025.
