July 1999 Issue


CenterPoint Advisors Inc., previously known as Cornerstone Professional Advisors, has filed a registration statement with the SEC for an initial public stock offering to raise funds to purchase eight CPA firms, three insurance services firms, a health care manager, and two securities brokers, according to a report in Accounting Today.

Included among the eight CPA firms to be purchased are Albany-based Urbach Kahn & Werlin and Maryland-based Reznick, Fedder & Silverman. Pro forma revenue from the accounting practices being acquired is $152 million, which would make CenterPoint slightly larger than American Express Tax and Business Services (TBS).

Robert Basten, president of TBS during its formative period, heads CenterPoint, which is attempting to put together a one-stop shopping mall of services for middle-market companies. *

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