Deloitte acquires assets of Trust Processing Solutions

Deloitte US’ tax practice has acquired certain assets of Trust Processing Solutions (TPS), a Cincinnati-based fiduciary tax compliance consulting firm.

Founded in 2001, TPS is a boutique firm with 27 employees listed on LinkedIn. The firm specializes in fiduciary services – advising on taxation of estate or trust assets. TPS uses the Thomson Reuters OneSource software suite.

The TPS team will join Deloitte Tax’s institutional trust group (ITG), which provides fiduciary tax services as well as charitable, individual, gift, estate and information reporting tax services.

“Today is the start of an exciting new chapter for the TPS team joining Deloitte Tax,” said Doug Hart, managing partner, TPS. “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.”

Deloitte said in a press release that the acquisition will position its tax practice as one of the largest providers of fiduciary tax services in the United States.

“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,” said Dan Mueller, managing partner for businesses and offerings, Deloitte Tax. "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.”

Deloitte in June announced the opening of a smart factory at Wichita State University.