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Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.

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CLA announced it has acquired Bankers Advisory, Inc., a Belmont, Massachusetts, consulting firm focused on helping mortgage institutions across the United States with regulatory compliance and quality control.

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CliftonLarsonAllen Acquires Bankers Advisory

  • 1/2/2014

Minneapolis — January 2, 2014 — CliftonLarsonAllen (CLA), a national certified public accounting and consulting firm, today announced it has acquired Bankers Advisory, Inc., a Belmont, Massachusetts, consulting firm focused on helping mortgage institutions across the United States with regulatory compliance and quality control.

"Bankers Advisory group has garnered a strong reputation serving hundreds of mortgage institutions," said Jerry Felicelli, managing principal of CLA's financial institutions practice. "The firm has earned an unprecedented reputation for providing premium federal and state compliance and fair lending consulting services."

Felicelli added, "We believe the financial services industry will feel the impact of regulation even more going forward as the industry responds to the Consumer Financial Protection Bureau (CFPB) rules on mortgage loans. We also believe there will be more regulatory enforcement pressure in 2014, prompting banks and credit unions to reassess their risk and compliance efforts. Our acquisition of Bankers Advisory will greatly expand our ability to serve the ongoing complex needs of financial institutions."

Joining CLA are 35 Bankers Advisory professionals including President Anna DeSimone. DeSimone founded the firm in 1986, and it currently serves more than 100 banks and mortgage lenders nationally, including depository institutions with assets over $200 billion. She is considered one of the nation’s top authorities in the area of mortgage risk, predatory lending, and regulatory compliance.

"I founded Bankers Advisory to provide clear guidance for mortgage lenders in an ever-changing compliance universe," said DeSimone. "CLA’s depth of national resources, talent and expertise will only enhance the services we provide. We look forward to growing our capabilities with CLA."

"The combination of the two firms represents a perfect fit for CLA," Felicelli said. "Bankers Advisory is the go-to resource for any company in the mortgage industry looking for consulting services with regard to quality control testing, training, and federal and state compliance. The firm’s emphasis on strong client relationships and high quality standards matches CLA’s culture and mission perfectly. The blend of skills across both firms allows us to continue to expand our capabilities and deliver maximum impact for our clients."


About CLA

CliftonLarsonAllen (CLA) is a professional services firm delivering integrated wealth advisory, outsourcing, and public accounting capabilities to help clients succeed professionally and personally. Our professionals are immersed in the industries they serve and have deep knowledge of their operating and regulatory environments. With more than 5,000 people, more than 100 U.S. locations, and a global affiliation, we bring a wide array of solutions to help clients in all markets, foreign and domestic. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.