August 10, 2020

Rothstein Kass Refugees Are Starting Fresh After the KPMG Acquisition

We heard a lot of chatter in the comment section after we first started reporting on KPMG acquiring Rothstein Kass, but one theme was pretty obvious: those who wanted to stay at RK were worried about the impact of a merger and wondering if they should leave now or wait it out.

One Rothstein Kass old timer chose not to sit around and see what happens:

Rick Flynn, a veteran in helping wealthy families preserve their millions, has launched his own family office business where he will counsel clients on a range of matters from selling their businesses to finding bodyguards and choosing the right investment manager.

Flynn Family Office was created this month when Flynn and several others split from Rothstein Kass as the firm, which made its name by auditing hedge funds, was being acquired by accounting giant KPMG LLP, the firm told Reuters on Tuesday.

Focus Financial Partners, a leading international partnership of independent fiduciary wealth management firms with roughly $60 billion in client assets, is backing Flynn Family Office, which began operations on June 1.

According to LinkedIn, Flynn joined RK in October of 2001.

Flynn will be joined by Evan Jehle, another former principal at Rothstein Kass' New York office. Both of them are still listed on the Rothstein Kass website.

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