Deloitte Tax LLP has acquired certain assets of Trust Processing Solutions LLP, a boutique firm specializing in fiduciary trust services, based in Cincinnati.
The deal will merge the capabilities and industry expertise of Deloitte and TPS. Offerings will include fiduciary tax services, along with charitable, individual, gift, estate and information reporting tax services.
Financial terms of the deal were not disclosed. Deloitte ranked No. 1 on Accounting Today's 2025 list of the
The acquisition will add a team of experienced professionals to Deloitte Tax's Institutional Trust Group and position Deloitte Tax to become one of the largest providers of fiduciary tax services in the U.S.
"The acquisition of certain assets of Trust Processing Solutions creates an incredible opportunity for our people, our clients and Deloitte Tax," said Deloitte Tax chair and CEO Carin Giuliante in a statement Monday. "By combining the existing capabilities of our ITG team with TPS's experience in key specialty areas and processes, we will be well-positioned to offer current and future clients unparalleled depth and knowledge."
The Deloitte Tax ITG and former TPS employees will form a single team.
"Today is the start of an exciting new chapter for the TPS team joining Deloitte Tax," said TPS managing partner Doug Hart in a statement. "TPS has been a serious operator in the fiduciary tax services space, successfully managing a high volume of returns with a robust client list. We are excited to combine our experience with that of the Deloitte Tax ITG team, whose deep industry knowledge and global reach will allow our combined workforce to deliver even greater value to our clients."
Tax isn't the only area in which Deloitte has been expanding through M&A. In January, it acquired substantially all the assets from cloud ERP/HCM automation platform
