Grimes & Company buys S&C tax practice in pairing of family businesses

Grimes & Company, an RIA backed by Joe Duran’s investment firm Rise Growth Partners, is expanding its in-house tax services by acquiring Stevens and Ciccone Associates in what is a merging of two multi-generational family firms based in Massachusetts. 

The tax business will be rebranded as S&C Tax Advisors, bringing eight CPAs serving 800 clients into Grimes & Company, which has around $7 billion in assets under management. Grimes & Company is headquartered in Westborough, Mass., while Stevens and Ciccone Associates is based in Needham, a Boston suburb that is the hometown of Kevin Grimes. 

“I approached them. They were not looking for a sale, and their goal is to grow and be part of a larger company that has a national reach,” Kevin Grimes said of his firm’s acquisition. “They're looking for a long runway and to be a part of something special for the long run.” 

Rise Growth Partners announced its minority investment in 2025 into Grimes & Company, which was incorporated in 1999 by founder Tim Grimes, according to the firm’s website. Tim's son, Kevin Grimes, succeeded him as CEO while Tim remains listed as chairman of the board and sole voting shareholder according to the RIA’s latest Form ADV filing. 

All in the family

Stevens and Ciccone Associates shares a history of being a multi-gen business rooted in Massachusetts. The tax firm’s website lists Gary Stevens and Michael Ciccone as having begun public accounting in 1978, with second-generation CPAs Samantha Stevens and Mark Ciccone now partners moving over to Grimes & Company.  

“We're bringing in new clients every day, and we're just seeing a need for higher-end tax planning,” Kevin Grimes told InvestmentNews. “There's a lot of additional complexity that we're seeing out there right now, things like equity compensation and lots of M&A, lots of business exits.” 

Grimes added that his RIA’s clients will not have their existing CPA relationships replaced by S&C Tax Advisors, but rather they will focus on serving newly onboarded clients. Grimes & Company has grown to 80 employees and announced that Andrew Hamil has been hired as chief operating officer after holding previous roles as chairman and president at both Wealth Enhancement Trust Services and Fidelity Personal Trust Company. 

Hamil’s addition will help build trust and estate services at Grimes & Company, which plans to prioritize expanding beyond its home state of Massachusetts. “We're looking across the entire country,” said Grimes. “I think we'd be more attracted to a firm that's not in Massachusetts and that's in other areas of the country as we build our national footprint.” 

Robinhood enters referral mix

Grimes & Company has custodian partnerships with Schwab, Fidelity, and TradePMR, which was acquired by Robinhood in late 2024. Client referrals have been a longtime part of Grimes’s organic growth strategy via participation in Schwab Advisor Network and Fidelity’s Wealth Advisor Solutions, while the RIA has more recently enrolled in the Robinhood Advisor Network referral program that launched by TradePMR earlier this year. 

“Putting a lot of resources into trying to maximize the impact these programs can have for us is something that we've decided to do from the beginning,” said Kevin Grimes. “We're really excited to have the opportunity to work with Robinhood's client base.” 

The family presence at Grimes & Company includes Kevin’s brother, Mike Grimes, who joined as chief marketing officer last year. Their sister, Emily Grimes Wood, is a principal and EVP at the firm, while cousin Molly Grimes Welch is a financial advisor at Grimes & Company. Tom Grimes is listed as VP and principal at the firm. 

“I'm completely committed to maintaining a majority stake in Grimes & Company. We have no intention of selling in the foreseeable future,” said Kevin Grimes. "I never want to lose the family feel. I think it's something that separates us from a lot of other firms.”