Deloitte Tax has acquired certain assets of Trust Processing Solutions (TPS), a Cincinnati-based fiduciary tax compliance company.
This acquisition strengthens Deloitte Tax’s Institutional Trust Group (ITG) by adding TPS’s expertise and experienced team. Deloitte Tax aims to become one of the largest providers of fiduciary tax services in the U.S., leveraging TPS’s strong market connections.
The combined Deloitte Tax ITG and former TPS teams will offer a unified suite of services, including fiduciary, charitable, individual, gift, estate, and information reporting tax services.
KEY QUOTES:
“The acquisition of certain assets of Trust Processing Solutions creates an incredible opportunity for our people, our clients and Deloitte Tax. By combining the existing capabilities of our ITG team with TPS’s experience in key specialty areas and processes, we will be well-positioned to offer current and future clients unparalleled depth and knowledge.”
Carin Giuliante, chair and CEO, Deloitte Tax
“Today is the start of an exciting new chapter for the TPS team joining Deloitte Tax. TPS has been a serious operator in the fiduciary tax services space, successfully managing a high volume of returns with a robust client list. We are excited to combine our experience with that of the Deloitte Tax ITG team, whose deep industry knowledge and global reach will allow our combined workforce to deliver even greater value to our clients.”
Doug Hart, managing partner, TPS
“In addition to expanding the size of our ITG practice, the acquisition of certain assets of TPS by Deloitte Tax will unlock tremendous marketplace potential for the future growth of our ITG team. Doug Hart is highly regarded in the fiduciary marketplace, and we anticipate that his reputation and relationships will lead to increased visibility and opportunities in the marketplace.”
Dan Mueller, managing partner – businesses and offerings, Deloitte Tax
“Our newly combined team exemplifies excellence in fiduciary tax services, utilizing premier tax platforms such as ONESOURCE Trust Tax, Wall Street Concepts, and CCH Axcess. Furthermore, the team will harness the power of our proprietary global tax platform, Intela, to provide individualized workplans, streamline processes, and enhance accuracy. I am excited about ITG’s future and eager to see what we will accomplish together in providing exceptional service to our clients.”
Laura Paszt, partner and ITG leader, Deloitte Tax
