Family Office of America Acquires Toone & Associates

Family Office of America, Inc. (FOFA) announced that its subsidiary, Family Office of Maryland, acquired Toone & Associates, a Maryland-based CPA firm specializing in tax and accounting services for high-net-worth individuals and families. The acquisition is positioned as FOFA’s entry into the fragmented accounting services market.

FOFA plans to roll up CPA practices in affluent, densely populated areas of Maryland and then expand family office services to its clients. The deal is described as strengthening FOFA’s service platform by adding accounting professionals and CPAs with expertise in complex tax planning, tax preparation, and estate strategies tailored to Maryland’s affluent families.