Weltman Bernfield to Join Wipfli

Merger-580x435Milwaukee-based Wipfli (FY16 net revenue of $228 million), ranked No. 20 on the 2016 IPA 100 list of largest firms in the nation, has announced that Weltman Bernfield of Buffalo Grove, Ill., will join the firm Sept. 1.

About 45 Weltman Bernfield professionals, including nine partners, will join more than 1,600 professionals at Wipfli.

“The services that Weltman Bernfield provides to their clients complement Wipfli’s core services, so this combination will deepen our resources and further strengthen Wipfli’s geographic presence in the Chicago market,” says Rick Dreher, MP of Wipfli LLP.

“This merger is huge for Wipfli as it really solidifies their position in Chicago as a major player amongst CPA firms,” says Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the merger. “This deal, when combined with the Steinberg Advisors deal, announced earlier this year, makes Wipfli one of the largest CPA firms in Chicago. I wouldn’t be surprised to still see Wipfli do another merger in downtown Chicago in the next year or two to round out their strategy.”

Weltman Berfield has been approached with merger opportunities by a couple of national firms, and the firm could have easily merged with Steinberg Advisors itself at some point down the road, Koltin says.

MP Glenn Mikell says Weltman Berfield and Wipfli share a similar culture and a commitment to exceptional client service. “Joining with Wipfli will provide our firm with new and enhanced services and capabilities beyond traditional services to help our clients address their challenges and leverage opportunities. This combination will also be beneficial to our employees by opening up new opportunities to grow professionally.”

Weltman Bernfield, founded in 1920, provides accounting, audit, tax and business consulting services to individuals and private companies in a variety of industries.

“At a time where every CPA firm claims to be ‘the best place to work’ or ‘an employer of choice,’ it was really refreshing to see a firm like Weltman Bernfield as they truly embrace their people and care about their professional growth and well-being,” Koltin says.

The combined firm will have more than 1,700 associates, including over 200 partners, and 39 office locations in the United States and India, including four offices in the Chicago area. Wipfli is a member of Allinial Global.