Family Office of America Acquires Toone & Associates, Signaling Robust Growth in Accounting Services Market

Family Office of America, Inc. (FOFA), an emerging leader in comprehensive tax, wealth management and family office services, today announced that its subsidiary, Family Office of Maryland, has acquired Toone & Associates, a well-established Maryland-based CPA firm specializing in tax and accounting services for high-net-worth individuals and families. This pivotal acquisition marks FOFA’s entry into the fragmented accounting services market, kicking off a promising pipeline of strategic acquisitions aimed at delivering sophisticated, integrated services typically reserved for the largest family offices to a broader clientele. FOFA plans are to roll up CPA practices beginning in the very affluent and densely populated areas of Maryland and then bringing the family office services to our clients.

The acquisition of Toone & Associates strengthens FOFA’s service platform by adding a talented team of accounting professionals and CPAs with deep expertise in complex tax planning, tax preparation, and estate strategies tailored to Maryland’s affluent families. Toone & Associates will benefit from FOFA by now offering clients a robust suite of services, including advanced investment advisory, personalized wealth planning, and tailored risk management solutions. FOFA’s focused approach and agile structure position it to deliver highly customized solutions, which should allow it to carve out a distinct niche in the competitive wealth management landscape.

“We’re thrilled to launch our growth strategy with the acquisition of Toone & Associates, a firm that shares our commitment to excellence and client-centric service,” said Patrick Adams, CEO of Family Office of America. “A very significant number of CPAs are at retirement age and need an exit strategy. Our focus on artificial intelligence (AI) is ripe with opportunity. We intend to put AI to work making our operations more efficient. We believe our financial model is very compelling. The number of potential acquisitions is vast, and our ability to use technology should allow for significant productivity gains. Adding services the client needs provides the potential for very attractive returns for our shareholders and offers great service for our clients. We believe offering Family Office Services to the masses will be the next big trend in financial services and that this will be a great thing for clients.”

Bruce Toone, Managing Partner of Toone & Associates, LLP, expressed enthusiasm for the partnership: “Joining forces with Family Office of America is a transformative step for our clients and team. Our reputation for meticulous, client-focused service aligns seamlessly with FOFA’s mission. With their support and resources, we’re excited to expand our impact and deliver even greater value to families across Maryland and beyond.”

Rico Conte, Director of Acquisitions at Family Office of America, added: “This acquisition is the first of many in our ambitious plan to consolidate top-tier firms and create a powerhouse in family office services. Our pipeline is brimming with high potential targets, and we’re moving quickly to build a platform that surpasses the capabilities of larger players.”

As a growing presence in the Mid-Atlantic, FOFA is focusing on leveraging its acquisition strategy to disrupt the status quo. The company’s pipeline of prospective deals signals a bold trajectory, positioning FOFA to compete effectively against industry stalwarts by combining regional expertise with scalable, innovative solutions for the next generation of wealth holders.

About Family Office of America

Description: Family Office of America, Inc. is a firm that offers family office services, to achieve the financial goals of the clients. The philosophy of the company is to work with CPAs and other professionals focused on tax planning, wealth management, asset management, estate planning, insurance consulting, and other services all in one convenient place. The company seeks to acquire CPA practices and expand the benefits of having all financial services for clients. Family Office of America Inc. is headquartered in Centennial, Colorado.

Forward-Looking Statements

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