Basepoint Wealth, LLC, a fee-only wealth management firm based in Cedar Rapids, IA, acquired Allen Accounting, PLC in a transaction completed February 23rd, 2022. Following the acquisition, the business will operate under the name Basepoint Tax & Accounting LLC, an affiliate company of Basepoint Wealth.
Following on the heels of a July 2021 merger with Des Moines-based Charter Accounting, PLC, the announced acquisition brings Basepoint’s tax and accounting services to the company’s home base in Cedar Rapids.
For nearly 20 years, Allen Accounting, PLC has provided high-quality accounting services to individuals and businesses in the Eastern Iowa area. The full-service accounting firm has prided itself on providing quality accounting, payroll, tax, and consulting services to individuals and small businesses with integrity, professionalism, and responsiveness.
Barbara Allen, CPA, owner of Allen Accounting PLC said of the acquisition, “I am pleased knowing my clients, many who I have helped for years, will continue to receive valuable tax and accounting services with Basepoint Tax & Accounting. The partnership we have developed with Basepoint Wealth will offer access, continuity, and convenience for clients to develop and execute their overall financial strategy through a holistic fiduciary lens”.
The merger will allow Basepoint to provide investment management and tax planning advice under one roof and allow individuals to benefit from tax advisors and financial planners who see the same data and follow a unified philosophy. “For too long clients have had to play the role of mediator with their team of financial professionals,” said W. Allen Wallace, Chief Investment Officer of Basepoint Wealth. “This union drives us one step closer to our ultimate goal of building a single, unified source of fiduciary financial advice, so that clients no longer have to struggle with various competing opinions when making financial decisions without knowing with certainty whose best interest is being served”.
Basepoint Wealth, the parent company of Basepoint Tax & Accounting was recently named one of the “Fastest Growing Companies” by the Corridor Business Journal and crossed $500 Million in assets under management in 2021. One of many objectives the company expects to achieve over the next few years of targeted growth.
“This acquisition builds on our strategic objective of expanding and complementing our wealth management process with in-house tax and accounting services,” said Landis Wiley, Director of Business Development for Basepoint Wealth. “We look forward to continuing to expand across our markets through a delicate balance of organic growth and targeted acquisition.”
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