OPM Financial Services acquired by growing ARGI
Louisville’s ARGI Financial Group, a fee-based wealth management firm with more than $1 billion in assets under management, acquired OPM Financial Group this week in an effort to expand its services. With the acquisition, ARGI adds full-service bookkeeping, financial statement reporting, accounts payable and receivable, CFO and business consulting services.
According to a news release, OPM Financial’s team of accountants will be integrated into ARGI and will continue to serve their existing client base via outsourced controller, CFO and other entrepreneurial accounting services.
“This is so much more than an expansion of services,” said ARGI CFO Jason Brangers. “This is a talent acquisition. This group will be a great asset to ARGI’s clients and a good fit with the culture at ARGI.”
OPM, which branded itself “The Entrepreneurs’ Accounting Agency,” was cofounded by Chuck Woods and current GLI president Kent Oyler. ARGI Financial Group, which turns 20 this year, also has offices in Bowling Green, Cincinnati, Indianapolis and Grand Rapids, Mich. ARGI has averaged 30 percent growth in each of the past five years and has been on Inc. 5000’s list of Fastest Growing Private Companies in America for six consecutive years (2009-2014).
The terms of the acquisition have not been disclosed.
U of L’s Entrepreneurial MBA feeding Velocity
Earlier this week, we told you the Velocity accelerator program had launched a cohort that consisted entirely of Kentucky companies. Turns out that the fourth cohort also features three teams who have members in or have graduated from the Entrepreneurial MBA program at the University of Louisville.
The local talent: Chris Head, co-founder of MobileServe, is a current IMBA student (integrative MBA); Stephen Haden of SmartLanes and Chris Blakeley of Credit Fair-e are both graduates of the program. Haden started SmartLanes while still in the program.
The Louisville Fish Company wins $1,000 small business prize
The Louisville Fish Company, an aquaculture company specializing in live fish delivery and caviar production, was recently awarded a $1,000 prize by SCORE and Sam’s Club. The American Small Business Championship awarded 102 prizes to small businesses in 48 states who have sacrificed and struggled for their success.
“We can only thank all of the individuals, farmers, fishermen and businesses who have helped us in our mission to grow aquaculture as an industry in the Commonwealth of Kentucky,” says Michael Tierney, owner of Louisville Fish Co.