Hercules, CA-based tax and accounting firm Chahal & Associates was acquired by Earned Wealth, a New York City-based comprehensive wealth and tax firm that provides financial services for doctors, their families, and their practices.
Financial terms of the deal weren’t disclosed.
This transaction represents Earned’s second acquisition in the past year since receiving a $200 million investment in July 2024 from growth equity firms Summit Partners and Silversmith Capital Partners. The capital commitment bolsters Earned’s tax planning and accounting resources, as the firm positions itself in the market as a one-stop shop for doctors’ financial needs.
Earned now works with more than 5,500 doctors, practices, and medical enterprises delivering wealth management, investments, retirement plans, tax compliance and planning, accounting, and payroll—all through a seamlessly integrated platform. Earned manages more than $2.3 billion in assets under management.
“Our vision is to be the only financial partner a doctor will ever need—helping them maximize their wealth, protect their income and assets, optimize taxes, and navigate complex financial decisions throughout their demanding careers,” Earned CEO John Clendening said in a statement on April 21. “By welcoming Chahal & Associates into the Earned family, we take another step toward making that vision a reality, and we’re just getting started.”
Founded in 2003, Chahal & Associates has a client base of approximately 2,200 doctors, business owners, and high-net-worth professionals. The firm provides tax planning, accounting, payroll and financial consulting to its clients, helping them navigate the complexities of wealth accumulation and tax efficiency.
By deciding to join Earned, Chahal & Associates CEO and founder Navjeet Chahal said he recognized the opportunity to deliver even greater value to his clients through an integrated wealth management and tax approach.
“Doctors face unique financial challenges, and Earned’s comprehensive platform provides the next level of support they need. I wanted to ensure my clients had access to a broader range of solutions that will help them build and protect their wealth for years to come,” said Chahal, who will remain with Earned as a managing director. “What really sealed it for me was Earned’s relentless focus on delivering standout client service—it’s exactly how we’ve always done business.”
As part of its M&A strategy, Earned said it’s actively seeking additional tax and accounting firms, insurance firms, registered investment advisors, and other financial service providers with strong doctor client bases.
“Chahal & Associates is a perfect fit for our model—an established healthcare-focused firm that wants to elevate their client experience while unlocking exceptional business growth,” Clendening said. “We provide an accelerated pathway to scale through cutting-edge technology, cross-service opportunities, and deep expertise in complex financial planning that can help established firms readily pursue new opportunities on behalf of their trusted clients.”
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