National accounting and consulting firm BDO USA announced Thursday its expansion of its South Florida practice through its acquisition of Goldstein Schechter Koch (GSK) of Coral Gables. GSK has more than 100 on its staff, including 14 partners. Terms of the transaction were not disclosed, but the transaction is expected to close in the third quarter.
Founded in 1949, GSK, which has offices in Coral Gables and Fort Lauderdale, provides a range of accounting, tax and wealth advisory services to a client base of public and private middle market businesses, nonprofits and high net worth individuals.
GSK has been a member of BDO Alliance USA since 2004, said Wayne Berson, CEO of the Chicago-based BDO USA. Combined with BDO's existing offices in Miami’s Brickell area, West Palm Beach, Lakeland, Orlando, Tampa, and Winter Haven, BDO will have more than 300 professionals serving Florida clients, the company said. Over the past four years, BDO has expanded rapidly, entering 23 new cities.
The transaction also includes the services currently offered by GSK Wealth Advisors, a fee-based registered investment advisory firm. All GSK partners and employees will be retained, the company said, and upon completion of the transaction, GSK professionals will continue to serve their clientele with the added resources of BDO. “BDO has a very compatible service philosophy that will make our transition into the firm as seamless as possible,” said Sanford B. Horwitz, CEO of GSK.