Aprio, a Top 20 Firm based in Atlanta, is expanding its investment in artificial intelligence through its Aprio Ventures program.
Aprio plans to invest in emerging technology companies, work alongside founders, evaluate innovative solutions that can strengthen its services, empower its professionals and create a better experience for its clients.
"We formed Aprio Ventures about 10 years ago and we've invested in 15 companies during that time," Aprio CEO Richard Kopelman told Accounting Today.
"We're investing in technology in general, including AI," he added. "We've now dedicated a larger pool of dollars to invest each year. We've hired a full-time leader in Silicon Valley that will work alongside the rest of the Aprio team to identify and source technology innovations in the marketplace that we will make investments in. Those will be technologies for the accounting, wealth management and legal professions."
Aprio also plans to invest in technologies that can be used by clients in industries such as healthcare, affordable housing, manufacturing and quick-serve restaurants.
"We're looking at various opportunities for us to make meaningful investments to best serve our people, best serve our clients and execute our strategy," said Kopelman.
In 2024, Aprio received a
"We currently serve clients in 20 states," said Kopelman. "We've continued to grow the law firm through both organic growth and hiring additional lawyers, as well as through M&A. We have currently grown the business by about 30% in its first year."
Aprio Legal is a full-service business law firm delivering integrated legal and advisory solutions to help clients grow with confidence. It brings together attorneys, CPAs, tax professionals and business advisors. Licensed under Arizona's ABS Program, Aprio Legal is headquartered in Scottsdale and serves both business and individual clients.
The funding from Charlesbank Capital Partners has enabled Aprio to expand its legal business as well as add more firms and AI technology. The Aprio Ventures Fund is owned by Aprio's holding company and Charlesbank is one of the partners in the holding company.
Kopelman estimates that Aprio closed 30 M&A transactions prior to the investment from Charlesbank in 2024 and has closed nearly 30 since then, including in June with Boston-based
Aprio has also been steadily expanding its wealth management business.
"Our vision and strategy is around building out national practices across the CPA firm and the wealth business, our RIA, which is now north of $6 billion in assets, and across our law firm," said Kopelman. "We've been building out these national practices and service lines, and we're building out national industry expertise and capabilities across the country, generally focused on large markets geographically. We're also very focused on market segments that align with our strategic objectives. The purpose of our operating model is serving the entrepreneur and enterprise clients across all capabilities: CPA firm, wealth firm, consulting business and law firm."
Over the years, the firm has grown from 1,775 team members in 2023 to 3,494 today.
Aprio is using AI in the research process and workflows in its wealth management practice, and for other uses across the firm to help its clients. With the Aprio Ventures program, it will be able to fund investments in other companies as well.
"We'll look to make investments in technology companies that are serving those industries, so that we can best serve our clients, best advise them, and bring them the most modern technology solutions," said Kopelman. "We're also building and are already serving clients with AI as a service and consulting services to help companies launch and develop an AI strategy, build AI policies for their companies, and help them build AI agents, determine how they should adjust their workflows, and then integrate AI as well as token optimization."
That's in addition to other services Aprio has been offering as a managed services provider and in its ERP practice.
"The client's at the center of everything that we're doing," said Kopelman. "Our growth strategy is all about how we best serve our clients, whether that's from an industry, geography or service perspective."
He noted that Aprio is approaching its 75th anniversary. "We focus very much on how we are creating value for the clients and the teams that are joining us in each transaction," said Kopelman. "That is no truer today than it was five and 10 years ago. As our firm has grown, we have continued to create better processes around everything we do, and mergers and acquisitions are certainly part of that. Where we can utilize AI and technology to work smarter, and ensure that our profession is becoming the most human that it's ever become as we are able to work smarter and embed technology and AI in all of our workflows, I think both our people and our clients will benefit."
