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July 20, 2021

Basepoint Wealth buys Charter Accounting to expand reach in Iowa

By Verdict Staff

Cedar Rapids-based wealth management firm Basepoint Wealth has acquired the full-service accounting firm Charter Accounting.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The transaction, whose financial details are unknown, was closed at the end of last month.

The acquired entity offers accounting services, such as accounting, payroll, tax and consulting, to individuals and small businesses in Des Moines, Iowa.

It will now operate as an affiliate of Basepoint under the name Basepoint Tax & Accounting.

Charter Accounting principal Mark McKee said: “I am very excited about the prospect of broadening the services that we can offer by affiliating with professionals adept at financial planning, investment management, and who understand the importance of independent, fiduciary advice for clients.”

McKee, and his team of licensed and certified accountants will remain

Ryan Watermiller, an Ankeny-based Basepoint Wealth advisor, will operate from the Des Moines office on a full-time basis.

The deal enables Basepoint to expand its reach to the Des Moines metro area, bolstering its existing presence in Cedar Rapids, Dubuque, and Davenport.

It will also allow the company to offer tax planning advice along with investment management and allow its clients to benefit from both tax advisors and financial planners.

Basepoint Wealth chief investment officer Allen Wallace said: “This union drives us one step closer to our ultimate goal of building a single, unified source of fiduciary financial advice, so clients no longer have to struggle with various competing opinions when making financial decisions without knowing with certainty whose best interest is being served.”

Basepoint Wealth director of business development Landis Wiley added: “Having successfully executed six acquisitions and mergers over the past four years, we are poised for continued expansion across our markets through a delicate balance of organic growth and targeted acquisition.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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