Prager Metis merges in Gassman Financial

Prager Metis, a Top 50 Firm based in New York, added the Gassman Financial Group, a financial planning firm also based in the city, effective Feb. 1.

The Gassman Financial Group offers tax, financial and wealth management services to clients across the country. 

Financial terms were not disclosed. Prager Metis's annual revenue is $120 million. The firm ranked No. 46 on Accounting Today's 2022 list of the Top 100 Firms. It has 88 partners and principals and 497 team members. The combination will add one principal.

As part of the deal, CEO Jonathan Gassman is joining Prager Metis as a principal, and his team will be working out of Prager Metis's recently expanded office in Boca Raton, Florida.

"Our firm is committed to delivering unparalleled service to clients and we are always looking for opportunities to expand our offerings," said Stuart Mayer, office managing partner of Prager Metis's New York City office, in a statement Wednesday.

G&G Planning Concepts Inc. is an independent registered investment adviser that's part of the Gassman Financial Group and will remain separate from Prager Metis. The combination will involve the independent tax and accounting group.

"Our goal has always been to provide our clients with the best possible financial solutions and this partnership will allow us to do just that on an even larger scale," Gassman said in a statement.

Last year, Prager Metis opened an office in the metaverse on the Decentraland virtual world. The firm was busy on the M&A front several years ago. In January 2020. it merged in both D'Arcangelo & Co. in Poughkeepsie, Rye Brook, and Millbrook, New York and Shine & Co. in New York. In 2019, it did several other mergers, including with M Moskowitz in River Edge, New Jersey, LFL Veritas in Teaneck, New Jersey, Frank & Co. in Washington, D.C., and Beck, Villata & Co. in Florida and New Jersey.

Prager Metis posted an announcement video on YouTube about its latest deal with Gassman.