Fiducial, a provider of business outsourcing services to small businesses and entrepreneurs, has acquired the accounting offices of Prince William County, Va., CPA firm Frisch Ambrosiano & Kontos PC, adding nearly 1,300 tax, write-up and payroll clients and two locations to its operations.
The terms of the deal were not disclosed.
The firm, which will now be known as Fiducial Frisch Ambrosiano & Kontos, will continue to operate at its locations in Lake Ridge and Dumfries. Fiducial will integrate the employees and service offerings of the former company into its own business model. Anthony Ambrosiano, CPA, will head up area operations as the new Fiducial district manager.
Ambrosiano said that the firm is looking to hire branch managers to handle the day-to-day operations in its offices.
Fiducial Frisch Ambrosiano & Kontos' client base includes service businesses, government contractors, technology companies, retailers, title companies, real estate agencies and medical practices.
"It was getting to the point where I was spending all my time on administrative and HR functions, that I could only spend 10 percent of my time with clients," said John Frisch, CPA/PFS, CFP, founder and partner of FA&K. "With Fiducial's support systems to handle these areas, this will no longer be the case."
The deal is Fiducial's second in four months. Back in October the company acquired Indianapolis-based Frontier CPA Group LLP, adding roughly 80 employees and 10 offices. In a separate deal, the company signed a stock purchase agreement for Frontier Lending Corp., Frontier Financial Consultants and Diamond Title and Escrow Inc. Fiducial's last expansion in Virginia was the 2003 purchase of Duvall Wheeler in Manassas.
In addition to traditional tax, accounting and payroll services, privately held Fiducial provides mortgage and title services through its affiliated companies and is its own broker/dealer through Fiducial Investment Advisors Inc.
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