Sax merges in Miller

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Sax LLP, a firm based in Clifton, New Jersey, has expanded its footprint in New York by adding New York City-based James D. Miller & Co. LLP, effective Aug. 7.

James D. Miller & Co. is a 115-year-old firm that services businesses, individuals, nonprofits, trusts and estates.

Financial terms of the deal were not disclosed. Sax LLP ranked No. 19 on Accounting Today’s 2019 Regional Leaders list for the Top Firms in the Mid-Atlantic Region, with $40 million in annual revenue.

“The James D. Miller & Co. team brings exceptional skill, expertise and experience to businesses and families, and we believe having them join Sax will benefit our entire client base and team greatly,” said Sax managing partner Joseph Damiano in a statement. “Our firms share common synergies and complementary strengths that will enhance our role as our clients’ No. 1 advisor, and we are thrilled with our new partnership.”

As part of the deal, two partners and two senior advisors from James D. Miller will be transitioning over to Sax, along with 11 other employees.

“Our aim has always been to provide the highest level of expertise and service offerings to our clients,” stated Erik Hanson, a partner with James D. Miller & Co. who is transitioning to Sax. “Merging with Sax provides a great opportunity to bring additional knowledge and resources to those we serve. We feel confident that this alliance with Sax will thrive thanks to our similar service philosophies, expertise and commitment to our clients’ lifelong business and personal financial goals.”

As a result of the merger, Sax is now a 34-partner firm with 185 total employees, and four offices: two in New York City and two in New Jersey (in Clifton and Pennington).

“Joining forces with Sax is an exciting time for our firm and we believe this alliance will benefit our clients greatly,” said Randal Natoli, partner-in-charge of James D. Miller’s New York City office, in a statement. “Sax has demonstrated healthy growth during its 60-plus years of existence, and we look forward to further deepening our commitment and capabilities for our clients through this strategic partnership.”

In 2017, Sax combined with Hunter Group LLC, a firm based in Fairlawn, N.J., and its subsidiary Sax Wealth Advisors acquired Sterling Portfolio Management, a wealth management firm based in Tuxedo, N.Y.

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