CliftonLarsonAllen Acquires Mortgage Consulting Firm

By Jason Bramwell, Staff Writer

Minneapolis-based national CPA and consulting firm CliftonLarsonAllen LLP has bought Bankers Advisory Inc., a Belmont, Massachusetts-based consulting firm focused on helping US mortgage companies with regulatory compliance and quality control.

Founded in 1986, Bankers Advisory serves more than 100 banks and mortgage lenders nationally, including depository institutions with assets of more than $200 billion.

Jerry Felicelli, managing principal of CliftonLarsonAllen’s financial institutions practice, said Bankers Advisory has earned a strong reputation for providing premium federal and state compliance and fair lending consulting services.

“We believe the financial services industry will feel the impact of regulation even more going forward as the industry responds to the Consumer Financial Protection Bureau rules on mortgage loans,” he said in a written statement. “We also believe there will be more regulatory enforcement pressure in 2014, prompting banks and credit unions to reassess their risk and compliance efforts. Our acquisition of Bankers Advisory will greatly expand our ability to serve the ongoing complex needs of financial institutions.”

As a result of the acquisition, thirty-five Bankers Advisory professionals will join CliftonLarsonAllen, including Anna DeSimone, president and founder of the consulting firm.

“I founded Bankers Advisory to provide clear guidance for mortgage lenders in an ever-changing compliance universe,” she said in a written statement. “CliftonLarsonAllen’s depth of national resources, talent, and expertise will only enhance the services we provide. We look forward to growing our capabilities with CliftonLarsonAllen.”

With approximately 3,600 employees coast to coast, CliftonLarsonAllen provides audit, accounting, tax, consulting, wealth advisory, and outsourcing services to private businesses, public-sector organizations, and individuals in several industries, including the following:

  • Construction and real estate
  • Employee benefit plans
  • Financial institutions
  • Health care
  • Not-for-profit
  • Private equity and venture capital
  • Professional services

CliftonLarsonAllen formed on January 2, 2012, after two of the nation’s top twenty CPA firms, Clifton Gunderson and LarsonAllen, merged.

“Bankers Advisory is the go-to resource for any company in the mortgage industry looking for consulting services with regard to quality-control testing, training, and federal and state compliance,” Felicelli said. “The firm’s emphasis on strong client relationships and high-quality standards matches CliftonLarsonAllen’s culture and mission perfectly. The blend of skills across both firms allows us to continue to expand our capabilities and deliver maximum impact for our clients.”

Related article:

Clifton Gunderson, LarsonAllen to Merge: New Firm Will Rank Among Top 10 CPA Firms


Already a member? log in here.

Editor's Choice

Upcoming CPE Webinars

Dec 3The materials discuss the concepts and principles in the AICPA’s new special purpose framework.
Dec 8Kristen Rampe will cover how to diffuse the tension in challenging situations in this one-hour webinar.
Dec 9A key component to improving your firm’s workflow efficiency while enhancing your profitability at the same time is how you leverage emerging technologies.
Dec 16Kristen Rampe will give tips on how to bring confidence into the room and build a valuable network.