Top 200 accounting firm LMC said on July 1 that it has merged in Stephen A. Kepniss & Associates PC, a Springfield, NJ-based firm that specializes in tax.
Financial terms of the deal weren’t disclosed. Kepniss’s team of eight tax professionals will continue to operate from the firm’s Springfield location.
LMC is a member of Ascend, a private equity-backed accounting platform that partners with regional accounting firms but allows them to stay independent while providing the firms resources to help them grow. Ascend has nearly 20 accounting firm partners and added two more last week.
- Related article: Ascend Adds Accounting Firms in New York, North Carolina
Founded in 1994 by Stephen Kepniss and Richard Di Palma, the firm specializes exclusively in tax services, offering deep expertise in tax planning and strategy, compliance, real estate tax advisory, and personalized guidance to high-net-worth individuals with complex financial profiles.
The deal enables LMC to expand its service offerings, particularly in tax advisory, real estate-related services, and specialized planning for high-net-worth individuals, the firm said in a media release.
“Stephen Kepniss and Richard Di Palma and their outstanding team bring three decades of highly sophisticated tax experience that will further expand our capacity to meet our clients’ increasingly complex needs,” LMC CEO Lee Cohen said in a statement. “Together, our talented professionals offer deep technical expertise and a shared vision for delivering meaningful client outcomes. This collaboration is another demonstration of our commitment to excellence and the continued expansion of our value-added service portfolio.”
“LMC is not only a New York City professional services leader, as an Ascend partner firm they give us access to world-class technology, advanced training, and professional advancement for our team, top-tier peer collaboration, and expanded growth opportunities,” said Stephen Kepniss. “Their extensive resources will free us to focus on serving our clients, advancing our capacity far beyond what we could manage on our own.”
Founded in 2010, LMC is a 100-person regional accounting and advisory firm headquartered in New York City.
The firm is a member of CPAmerica, an accounting association made up of independent CPA firms across the U.S. CPAmerica is a member of Crowe Global, a top 10 global accounting network, with 286 independent accounting and advisory services firms in 130 countries.
“As we move forward with this collaboration, our focus remains on delivering trusted advice and long-term value to our clients,” Cohen said. “The combination of our firms reflects our mutual dedication to delivering tailored, high-impact solutions that help our clients succeed.”
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