Two former partners in the accounting firm Sturn Wagner Lombardo & Co., Andrew R. Lombardo and Matthew C. Wagner, are merging with J. Brian Stitcher, owner of the accounting firm SRM & Co., to form a new firm, Lombardo Wagner Stitcher and Co. LLC.
The new firm includes 20 of the 23 people previously employed by the now dissolved Sturn Wagner Lombardo. Late last month, regional accounting firm Watkins Meegan announced that Sturn Wagners founding president, Kurt Sturn, was joining the firm with some of his former employees (see Watkins Meegan Merges in Sturn).
SRM & Co. will bring 10 people to the new entity, increasing the total firms staff size to 30. The new firm includes 17 CPAs, four CPA candidates, three paraprofessionals, one accounting intern and five administrative professionals. The firm hopes to have at least 24 CPAs within the next year or so. The new firm will work out of Sturn Wagners office space in Annapolis. The move took place last Thursday.
Lombardo attributed the split from Sturn as differences in their philosophies of how we want to do business, so we went our separate ways. He will be managing partner of the firm, Stitcher will be partner-in-charge of advisory and entrepreneurial business services, and Wagner will be partner-in-charge of tax services. Financial terms of the merger and revenue figures were not disclosed.
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