Aprio, a Top 25 Firm based in Atlanta, has acquired JMS Advisory Group, a firm that specializes in unclaimed property compliance and escheat process development, also based in Atlanta 

Financial terms of the deal were not disclosed. Aprio ranked No. 24 on Accounting Today’s just released 2025 list of the Top 100 Firms, with $485.34 million in annual revenue. JMS Advisory Group is bringing 12 team members and two partners to Aprio, which currently has over 2,100 team members and 205 partners. 

JMS was founded in 2006 and helps clients mitigate risk and capitalize on opportunities through managed unclaimed property compliance. The team includes attorneys, CPAs, CFEs and others.

JMS has a wide range of clients, including enterprise companies, financial institutions, credit unions, insurance companies, hospitality and health care organizations.

“As Aprio continues its rapid growth, we are committed to expanding our services to meet the evolving needs of our clients,” said Aprio CEO Richard Kopelman in a statement Tuesday. “The addition of JMS gives us the opportunity to continue strengthening our position as a future-focused advisory firm. JMS’s focus on escheat management and asset recovery not only enhances our current capabilities but also allows us to deliver even more impactful solutions to help businesses navigate complex compliance challenges.”

JMS president and CEO James Santivanez is joining Aprio as a partner and provides guidance to clients on unclaimed property and state and local tax issues. 

“We created JMS to make an impact nationally in the unclaimed property consulting industry, and I’m proud of our nearly 20-year history of helping clients mitigate risk and capitalize on opportunities resulting from accurate and properly managed unclaimed property compliance,” Santivanez said in a statement. “Joining with Aprio takes us to the next level, allowing us to build upon our success while providing even greater value to our clients. This is an exciting next step in our journey.”

JMS founder and director Sherridan Santivanez is also joining Aprio as a partner. He specializes in representing clients before state enforcement authorities and managing complex audits and voluntary disclosures for some of the world’s largest companies. She provides strategic guidance on audit preparation and navigates interactions with state and third-party auditors.

Aprio received a private equity investment last July from Charlesbank Capital Partners in Boston. The firm recently announced plans to open a law firm in Arizona known as Aprio Legal LLC, in partnership with Radix Law. (KPMG has also recently opened a law firm in Arizona known as KPMG Law US.) Aprio has completed over 20 mergers and acquisitions since 2017, adding Ridout Barrett & Co. CPAs & Advisors last December, and before that, Antares Group, Culotta, Scroggins, Hendricks & Gillespie, Aronson, Salver & Cook, Gomerdinger & Associates, Tobin & Collins, Squire + Lemkin, LBA Haynes Strand, Leaf Saltzman, RINA and Tarlow and Co.

The American Institute of CPAs and the National Association of State Boards of Accountancy are asking for comments on their proposal for an additional pathway to CPA licensure through changes in the Uniform Accountancy Act model legislation used in states.

The AICPA and NASBA proposed the alternative pathway to CPA licensure last month and the UAA changes last September.

The UAA changes would:

• Enable states to adopt a third licensure pathway that requires earning a baccalaureate degree with an accounting concentration, completing two years of professional experience as defined by Board rule, and passing the Uniform CPA Examination;
• Shift to an “individual-based” mobility model, which allows CPAs to practice in other states with just one license; and
• Add safe harbor language to ensure CPAs who meet existing licensure requirements preserve practice privileges.

The proposals come as several states are already moving forward with their own changes, including Ohio and Virginia. Accounting organizations are hoping to increase the pipeline of accountants and make it easier to recruit and train CPAs, including people who come from other backgrounds.

The updates reflect feedback gathered during a late 2024 exposure draft period and forward-looking solutions being advanced by state CPA societies and boards of accountancy to increase flexibility for  licensure candidates while maintaining the integrity of the CPA license.

The AICPA and NASBA are asking for comments on the proposed changes by May 3, 2025. They can be submitted through this form. All comments will be published following the 60-day exposure period.

The UAA offers state legislatures and boards of accountancy a national model they can adopt in full or in part to meet the licensure needs of each jurisdiction.

The proposal would maintain the current two pathways to CPA licensure:

• Earning a  post baccalaureate degree with an accounting concentration, completing one year of professional experience as defined by Board rule, and passing the CPA exam; and,
• Earning a  baccalaureate degree with an accounting concentration,  plus an additional 30 semester credit hours , completing one year of professional experience as defined by Board rule, and passing the CPA exam.

Small business employment held steady last month, according to payroll company Paychex, while wage growth continued below 3%

The Paychex Small Business Employment Watch‘s Small Business Jobs Index, which measures employment growth among U.S. businesses with fewer than 50 employees, was 100.04, indicating moderate job growth. Hourly earnings growth for small business workers remained below 3% (at 2.92%) for the fourth month in a row. Hourly earnings growth has been mostly flat for the past seven months, ranging from 2.90% to 3.01%.

“Our employment data continues to show moderate job growth and wage growth below three percent,” said Paychex president and CEO John Gibson in a statement Tuesday. “The consistent long-term trend we’re seeing is a small business labor market that is resilient and stable with little job movement among workers. At the same time, small business owners are optimistic about future business conditions despite uncertainty about how to adapt to a rapidly evolving legislative and regulatory landscape.”

The Midwest remained the top region in the country for the ninth consecutive month with a jobs index level of 100.54. Seven of the 20 states analyzed gained more than one percentage point in February, led by Texas (up 2.11 percentage points).

Phoenix (101.92) increased its rate of small business job growth for the fourth month in a row in February to rank first among the largest U.S. metros.

Construction (3.29%) regained its top spot among industries in terms of hourly earnings growth in February, followed closely by “other services” (3.27%) and manufacturing (3.21%).

The pace of job growth in manufacturing gained 2.39 percentage points to 99.52 in February, the industry’s biggest one-month increase since April 2021.