Andersen Group Inc. (ANDG)

Andersen is a leading provider of independent tax, valuation and financial advisory services to individuals and family offices, businesses and institutional clients in the United States. The firm was founded in 2002 by experienced leaders and partners of the former Arthur Andersen and has grown into an integrated advisory platform. It deliberately does not provide audit or financial statement attestation services, so it is not subject to the auditor independence rules that restrict many competitors. Its global reach comes through membership in Andersen Global, a Swiss association formed in 2013 of legally separate member and collaborating firms. Andersen is the founding member and holds no equity interest in the association or its member firms.

The firm's primary service offerings are Private Client Services, Tax Services, Alternative Investments and Valuation Services, supported by a U.S. National Tax office. Private Client Services covers income tax planning, trust and estate planning, charitable giving, family office advisory, tax compliance, outsourced accounting and wealth management advisory. Tax Services for businesses include M&A transaction services, state and local tax, international tax and tax technology automation. The Alternative Investments practice supports funds across their lifecycle, including fund structuring, private placement memoranda, fund accounting and administration, and compliance. Valuation Services include tax valuation, financial reporting valuation and fixed asset and real estate valuation. The firm is investing in AI through technology vendors and strategic alliances, and plans to expand into consulting, investment banking, global mobility and international legal services, leveraging its relationship with Andersen Consulting.

Andersen's clients include individuals, wealthy families, family offices, businesses and institutional clients, along with private equity, hedge, real estate and venture capital funds and funds of funds. They span industries such as financial services, consumer products, healthcare, hospitality, manufacturing, pharmaceutical and biotech, real estate and technology. As of December 31, 2025, the firm had served approximately 12,350 client groups in the United States. Client concentration is low, with the ten largest client groups accounting for about 5% of revenue in each of 2025 and 2024. Over 70% of 2025 revenue came from client groups that had worked with the firm for more than three years. Client groups with minimum annual spend above $250,000 grew from 629 to 687 between 2024 and 2025.

The firm employed over 2,300 people in 26 U.S. locations as of December 31, 2025, using a low Managing Director-to-professional model and a high ratio of client-facing staff. Among client-facing professionals at manager level and above, 87% held professional licenses and 51% held advanced degrees. No employees are unionized. New business comes from direct sales led by revenue-generating Managing Directors and from referrals from existing clients, M&A providers, wealth advisors, law firms and Andersen Global member firms. Andersen Global had over 50,000 professionals in over 180 countries as of that date. Growth strategies include expanding work with existing clients, winning new clients, adding services, selective acquisitions and international expansion. Training programs include a partnership with the University of San Francisco and support for professional certifications.