FAMILY OFFICE OF AMERICA, INC. Annual Report - How They Did This Year

I’ve put together this guide to help you understand how Family Office of America, Inc. (FOFA) performed this year. My goal is to cut through the corporate jargon and give you the essential details so you can decide if this company fits your investment goals.

1. What does this company do?

Think of FOFA as a "roll-up" company for the accounting and wealth management industry. They build a network of CPA and financial planning firms by buying local practices. Their goal is to offer clients a "total solution"—everything from tax prep to estate planning—under one roof. By centralizing back-office work, they aim to save money in ways that small, independent firms cannot.

2. Their "Growth by Acquisition" Strategy

FOFA is expanding rapidly, betting they can profit from the wave of CPAs nearing retirement. They don't just buy firms; they keep the original owners on as consultants to ensure a smooth transition.

• Recent Deals: They bought the accounting and advisory assets of Toone & Associates and Benson Family Office. They structured these as asset purchases to limit their legal liability.
• Smart Protection: Both deals include "performance clauses." If these offices miss specific profit targets, the price FOFA pays drops. This limits their risk by tying the purchase price directly to the acquired firm’s actual earnings.
• The "Consultant" Strategy: They pay former owners, like Bruce Toone and Donald Benson, to stay for 2–4 years. These experts train staff and help move clients to FOFA’s broader service model. This strategy is vital to keep clients from leaving, which is the biggest risk in this business.

3. Financial Health & Risks

FOFA is still an early-stage company. Keep these risks in mind:

• Operational Structure: The company operates without full-time employees, relying entirely on independent contractors and the staff at the firms they acquire to handle daily operations.
• Dilution: To fund deals, the company frequently issues new shares and warrants. As of April 2026, there are over 30 million shares outstanding. Every time they issue more stock, your ownership percentage shrinks. Warrants priced between $0.10 and $0.25 could also limit future share price growth.
• Funding: They raise capital by selling shares to investors. In 2025, they sold 9.65 million shares to raise nearly $1 million. This capital is allocated toward acquiring firms and covering administrative costs.
• Cybersecurity: They handle sensitive financial data and rely on internal controls to manage security, as they have not engaged outside experts to audit these systems.

4. The Bottom Line

FOFA is a high-risk, startup-style investment. They are currently in a growth phase, spending cash to acquire firms rather than generating a profit. They do not pay dividends and reinvest all earnings into operations.

The company has spent more money than it has earned since its inception. If you are looking for a stable, established company, this may not be the right fit. If you are interested in a speculative play on the accounting industry, watch their next reports. Specifically, look for evidence that the acquired offices are hitting their profit targets and that the company is moving toward consistent profitability.