Raleigh, N.C.-based IPA 100 firm Cherry Bekaert (FY23 net revenue of $572 million) has announced the acquisition of Denver-based Spicer Jeffries LLP, a leading CPA firm specializing in providing audit, tax, accounting and consulting services to the securities industry.
For more than three decades, Spicer Jeffries and its associates have worked diligently to forge new partnerships with hundreds of professionals in the industry around the globe. The firm is recognized as a pioneer in the industry and is consistently ranked among the top 10 firms in the country auditing hedge funds, among other notable distinctions.
This strategic acquisition expands Cherry Bekaert’s service offerings to its financial services clients, particularly within the asset management sector, by leveraging Spicer Jeffries’ deep knowledge of the securities industry, fund structures and relevant tax and accounting standards. The acquisition further enhances Cherry Bekaert’s fund regulatory compliance and investor transparency practices, solidifying its position as a trusted advisor in the financial services industry.
Michelle Thompson, CEO of Cherry Bekaert Advisory LLC, stated, “This acquisition underscores our commitment to the financial services industry. We value the relationships Spicer Jeffries has built with their clients, fund administrators, attorneys and other members in the investment community. We are excited to grow together.”
Additionally, the acquisition expands Cherry Bekaert’s geographic coverage to the Rocky Mountain region, including the City of Denver, a market known as a growing and vibrant business hub in key industries that align with Cherry Bekaert’s focus sectors, including financial services, health care, life sciences, aerospace, technology and energy.
Robert Yurglich, founder and MP of Spicer Jeffries LLP, commented, “Joining Cherry Bekaert is a significant step forward for us. We are thrilled to bring our specialized industry knowledge to a firm that values growth and investor confidence. This partnership presents exciting growth opportunities for our people and enhances the value and services we provide to our clients.”
