The move brings BDO Wealth's assets under management to around $700 million.

BDO USA, the accounting and consulting firm, has expanded its wealth advisory practice with the addition of LBA Wealth Management in Jacksonville, FL - hot on the heels of The LBA Group's move to BDO USA last November.

As part of the deal, David Albaneze, managing partner of LBA Wealth Management, will join BDO as managing director of the firm’s wealth advisory business in the southeast.   

“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. “Florida will serve as a stronghold for the continued expansion of our wealth advisory practice throughout the Southeast.”  

“When the LBA Group informed us of their intention to join BDO USA last fall, it was always our intention to reach a similar agreement with BDO’s Wealth Advisory practice,” Albaneze added. We share numerous clients with the accounting practice and there are obvious advantages to being able to provide complementary services under one roof.”

The combination of BDO and LBA Wealth Management is - subject to closing conditions - expected to complete on April 1.