Kahn, Litwin, Renza & Co. said it is merging in Daniel Ryan & Co. on Jan. 1, adding between 10 and 16 professionals to its staff and giving KLR more expertise in tax planning.
The two firms are based in Providence, R.I. Ryan and his staff will relocate to KLR's offices, increasing the staff to more than 125 employees. Financial details were not disclosed.
"Dan Ryan has been in the community for 25 or 30 years, and he's got an unbelievable reputation," said Michael Tousignant, a shareholder and director of accounting and auditing at KLR. "The market is really consolidating. One of our strategies is to merge in high-quality firms like Dan Ryan's. He deals with sophisticated tax-planning strategies and that works very well with our client base."
Staff members from Ryan's office began moving into KLR's offices before the New Year. The combined firm doesn't plan to cut any of the staff. "Everybody from their firm is moving over," said Tousignant. "Talent today is one of the key things in the accounting industry."
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