Earned, a New York City-based tech-enabled financial services firm geared specifically to healthcare professionals, announced on Aug. 4 that it has acquired Schwartz & Schwartz PC, a Boston-based tax and accounting firm that provides services to dental practices and other healthcare providers.
Financial terms of the deal weren’t disclosed.
This is Earned’s third 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.
The firm has also acquired Chahal & Associates, a West Coast-based tax and accounting firm, and Thomas Doll, a long-established financial services provider to healthcare professionals and medical groups.
The addition of Schwartz & Schwartz marks Earned’s entrance in the greater Boston area, one of the nation’s largest and most influential healthcare markets. Earned now has more than 8,000 clients and $2.3 billion in assets under management.
“This marks a major step forward in Earned’s national expansion strategy and underscores the power of our integrated model,” John Clendening, founder and CEO of Earned, said in a statement. “With more than 8,000 healthcare professionals and practices now under our care, we’re growing rapidly by combining best-in-class firms under one single, specialized brand. Schwartz & Schwartz strengthens our East Coast presence and builds on our strong track record of attracting healthcare-focused advisors.”
Earned’s comprehensive model integrates wealth management, tax preparation and planning, retirement plans, accounting, payroll, and practice-specific financial guidance into a seamless experience—designed specifically for healthcare professionals, including physicians, dentists, behavioral health therapists, and veterinarians, the firm says in a media release.
Founded in 1993 by brothers Andrew Schwartz and Richard Schwartz, both of whom are CPAs, Schwartz & Schwartz provides tax preparation, accounting, payroll, and practice management services to physicians, dentists, and other healthcare providers.
“Earned is aligned with our long-standing mission of providing superior financial services and client support to healthcare providers and practice owners so they can spend more time caring for their patients,” said Andrew Schwartz. “We’ve spent more than three decades helping our clients succeed, and now we’ll be able to offer an even broader suite of services and advice to the physicians, dentists, and behavioral health practitioners we serve.”
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.
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