Foreside Financial, which offers governance, risk management, and compliance (GRC) solutions and technology offerings for asset managers, has acquired Pennsylvania-based Cipperman Compliance Services (CCS).
Financial details of the deal were not disclosed.
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Founded in 2004, the acquired entity specialises in chief compliance officer services to wealth managers, alternative fund managers, registered funds, family offices, broker-dealers, and regulated fintech firms.
CCS’s team, consisting of senior lawyers, auditors, and compliance officers, works to provide clients a ‘practical perspective on how regulations are impacting the industry at large’.
The firm, which will continue to be based in Pennsylvania, will add around 25 people and more than 100 clients to Foreside.
CCS founding principal Todd Cipperman said: “Our relationship with Foreside goes way back, and we’ve been impressed with the incredibly deep bench they have in the compliance advisory business.
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By GlobalData“They bring a unique proposition in the GRC space, and we are extremely excited to join forces with them and together become a true end-to-end GRC provider.”
Foreside president David Whitaker said that the acquisition complements the firm’s existing distribution offering and bolsters its outsourced CCO capabilities.
Whitaker added: “This is the culmination of a decade-long commercial relationship and friendship between our firms. We are thrilled to be working together.”
Last year, Foreside bought Pennsylvania-based Hardin Compliance Consulting to bolster its existing service offering in the regions.
It also acquired Golden Bear Consulting Group and Capital Markets Compliance last year.
The Portland-headquartered firm has a number of regional offices across the US, including in New York and Boston.
