Chicago-based BDO USA (FY19 net revenue of $1.64 billion) acquired Biegel Waller Investment Advisory Services of Columbia, Md., on Jan. 1 to expand its wealth advisory practice.
The deal brings 10 partners and professionals to BDO.
Stephen Ferrara, COO of BDO USA, says, “In today’s volatile market, our wealth advisory clients rely on our investment professionals to preserve and enhance the wealth they’ve worked so hard to build. Biegel Waller’s holistic approach to investment advisory through independent research and insightful market analysis is a perfect complement to BDO’s existing wealth advisory practice.”
Biegel Waller Investment Advisory Services focuses on high-net-worth clients. Founded in 1998, the firm works with private wealth clients in the Washington, D.C., market and beyond.
“We seek to minimize portfolio risk and maximize peace of mind for each individual and unique client,” says Mark Biegel, co-founder, partner and senior portfolio manager at Biegel Waller Investment Advisory Services. “With BDO, our clients have even greater access to high-caliber, comprehensive wealth management services throughout the Atlantic region and across the country.”
“The combination of Biegel Waller Investment Advisory Services and BDO’s wealth advisory practice provides clients of both firms with access to the full complement of advisory services that each firm brings to bear,” says Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the transaction. “This expansion into Greater Washington D.C. and Baltimore further supports BDO’s targeted growth strategy.”
BDO will maintain Biegel Waller’s Columbia office.