Foreside Financial Group acquires Hardin Compliance Consulting

24 June 2021 2 min. read
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Foreside Financial Group, a Portland, ME-based provider of risk and compliance advisory and technology to financial services clients, has acquired Wexford, PA-based Hardin Compliance Consulting.

Founded in 2006, Hardin delivers regulatory compliance services to investment advisors, broker-dealers, private funds, and investment companies. The Pennsylvania firm’s more than 30 team members consist of former in-house securities attorneys, compliance managers, and audit professionals.

Hardin’s services include compliance program review, GAP analysis, anti-money laundering audit, risk assessment, regulatory filing preparation, and compliance training.

The firm is led by CEO Matthew Hardin, who has over 28 years of financial services industry experience. A securities attorney, compliance consultant, and expert witness, Hardin has deep expertise in compliance reviews, due diligence, and internal investigations of SEC registrants. Prior to founding his consulting firm, Hardin worked at PNC Financial Services Group, Federated Investors Inc., Banc One Corporation, and the SEC’s division of enforcement.

Foreside Financial Group acquires Hardin Compliance Consulting

Foreside’s acquisition of Hardin Compliance Consulting will create one of the largest compliance consultancies specializing in financial services, according to a release from the firm. Financial terms of the transaction were not disclosed.

“We’re thrilled to bring on a firm of Hardin’s caliber that shares Foreside’s passion for building cultures of effective compliance with our clients,” said David Whitaker, president of Foreside. “Not only does it support our overall growth strategy and improve our market position, but it also allows us the ability to scale responsibly to maintain our unparalleled standards in client service.”

Foreside delivers advisory and technology solutions to asset and wealth managers, including platforms to automate and simplify compliance and marketing for clients. The firm was founded in 2005 and acquired by private equity firm Lovell Minnick Partners in 2017.

Since its acquisition, the firm has grown from approximately 140 employees to more than 250, according to LinkedIn. The Hardin deal will represent Foreside’s eighth acquisition since 2019 and its fourth in 2021. The firm earlier this year acquired compliance consultancies Golden Bear Consulting Group, JG Advisory Services, and Capital Markets Compliance.

“Foreside is a good fit culturally, and we feel confident that our clients and employees will be treated well,” Hardin said. “This combination of Hardin and Foreside brings together two best-in-class providers of compliance services to financial organizations.”