Business advisory and accounting firm Aprio plans to extends its wealth management reach and capabilities following a major acquisition in the Midwest.
The firm is to acquire the almost-70-year-old Mize CPAs Inc. which provides accounting and payroll services to McDonald’s owner/operators and entrepreneurs and has an affiliated fee-only RIA, Prism Financial Group, which manages approximately $1.8 billion in assets for individuals, business owners, and franchisees across 42 states.
The deal will triple Aprio’s regional team in the Midwest to more than 450, with 20 partners and 300 professionals joining from Mize which has offices in Topeka and Overland Park, Kansas.
Once the deal closes, Prism Financial Group will become part of Aprio’s existing RIA, Aprio Wealth Management, with combined AUM of around $5 billion and Mize managing partner James Hilbert and Prism managing partner Tim Shmidl will join Aprio as partners.
Aprio has been a prolific acquirer of firms over the past decade, adding more than 40 since 2017. The latest acuqisition is expected to close in November 2025.
Allan Koltin is CEO of Koltin Consulting Group, which advised all parties on the transaction.
“The combination of Aprio, Mize, and Prism creates a powerhouse in the Midwest, blending unmatched capabilities in serving franchisees, high-net-worth individuals, and entrepreneurs,” he says. “The synergies between these firms are extraordinary, uniting deep industry knowledge and a shared commitment to client success. Together, they are set to dominate the region, offering comprehensive support and opportunities that raise the bar for clients and talent alike.”
September has been a busy month for M&A in the wealth management space, including Wealthspire’s acquisition by private equity firm Madison Dearborn Partners from Aon, Corient’s acquisition of $3.5 billion AUM firm Breed’s Hill Capital, just days after unveiling a trans-Atlantic mega-merger that will significantly expand its global footprint, and making its debut in Connecticut through $4.5 billion AUM Northeast Financial Consultants.
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