BDO acquires LBA Wealth Management LLC, continues Jacksonville expansion

(Courtesy of Jacksonville Business Journal)

BDO USA LLP has acquired LBA Wealth Management LLC as it continues its expansion into Jacksonville.

The group had previously purchased the longtime Jacksonville accounting firm the LBA Group in November. This latest move is an attempt by the professional services firm continues a push into Florida.

LBA Wealth Management LLC is a fee-only investment advisory firm that operated with seven professionals managing $350 million in assets. The Florida market will be a “stronghold” for BDO’s continued expansion of its wealth advisory practice throughout the Southeast, according to a statement by BDO.

“LBA’s experience working with high-net worth clients in Jacksonville, Gainesville and throughout North Florida, combined with our previous expansion in South Florida last year, greatly increases our wealth management resources in the state of Florida,” said Steve Parish, National Leader of Wealth Advisory Services at BDO USA.

David Albaneze, who was the chief investment strategist at LBA Wealth Management, said when the LBA Group joined BDO, the company began working on joining BDO’s wealth advisory practice.

“As part of a national firm, our clients will have access to a wider range of services and our people will have access to many more opportunities to pursue career growth,” he said.

BDO USA has about 400 staff serving Florida businesses in offices in Coral Gables, Fort Lauderdale, Jacksonville, Lakeland, Miami, Orlando, Tampa, West Palm Beach and Winter Haven.


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