REDW Advisors & CPAs has grown its presence in Arizona, adding Hatcher Financial, a firm based in Phoenix, to the Regional Leader.
The deal, announced last week, will increase Albuquerque, New Mexico-based REDW's Phoenix office to 114 team members, and nearly 350 team members, including 50 principals, across its national and international footprint. Three principals and fewer than 10 employees are joining from Hatcher and will be based in Phoenix.
Through the acquisition, Hatcher Financial, which provides tax and accounting services as well as a suite of wealth management and financial planning to its clients, will join REDW Wealth LLC, an SEC-registered investment advisory firm subsidiary of REDW Advisors & CPAs with more than $1 billion in assets under management. Financial terms of the deal were not disclosed. REDW ranked No. 6 on Accounting Today's 2024 Regional Leaders list of the Top Firms in the Southwest, with $49.73 million in annual revenue.
"For the past several years, REDW has undergone a seismic shift in its business model by creating partnerships, acquiring key talent, and investing in technology that allows us to approach our clients' needs in a more holistic way," said Kerry Prine, chief operating officer of REDW Advisors & CPAs, in a statement last week. "Today, as a full-service advisory firm, our focus is to continue to excel at traditional tax and accounting functions, but also to offer a wide array of services to complement them."
REDW offers advisory and specialized expertise to a variety of industries and Tribal communities nationwide. They include cybersecurity; business valuation, forensics and dispute advisory; transaction advisory; specialized state and local tax and incentives services; personal financial planning; human resources consulting and compensation studies; business software and digital decision-making support; outsourced client accounting from bookkeeping and controllership to chief financial officer services; personal financial planning and wealth management bundled with tax planning and compliance; policy and procedures support; and internal audit with a solutions-based consultative approach.
REDW was looking to strategically expand in the market. "REDW's goal for expansion efforts has been to continue to be indispensable partners in navigating markets, leveraging advanced technology, and driving personal financial and business growth," said REDW managing principal Steve Cogan in a statement.
This acquisition is the latest in a series of moves by REDW across its national footprint, including the opening of its first Pacific Northwest office in late 2023 via an acquisition of Oregon-based Grove, Mueller & Swank, P.C., as well as its acquisition of Edwards, Largay, Mihaylo & Co. in Phoenix in 2022. In 2021, REDW added
Hatcher Financial's 400 clients look to the firm to provide tax, accounting and financial services rather than a single strategy.
"Since founding Hatcher Financial in 2015, we have applied a disciplined approach, blending wealth management and tax planning, guiding businesses as well as individuals across a wide variety of areas, uncovering unnecessary risks and ensuring that opportunities aren't missed," said Douglas M. Hatcher, founder, director of financial planning, and a tax consultant for over 45 years. "Our team has over 100 years of combined financial services, accounting and tax expertise, and provides innovative, tax-optimized wealth management solutions. We are looking forward to expanding our efforts through this opportunity with REDW."
