Karsten Advisors, an RIA based in Fort Worth, Texas, has acquired the accounting and RIA practices of Denver-based Kurtenbach & Co., whose owner is retiring.

The selling price was not disclosed.

The move marks the ninth acquisition by Karsten Advisors over the past 13 years. Karsten is looking to continue its growth in Texas and in the Denver market, says Tom Karsten, owner and CEO of Karsten Advisors, which has about $250 million in assets under management.

The sale was made possible by the retirement of Terri Kurtenbach, owner of Kurtenbach & Co., which has $15 million under management. Her two staff members, including office manager Diana Sprague, will remain during the transition, Karsten says.

“The fact that many advisors are ready to retire presents an opportunity for us,” Karsten says.

Andrea Folkes, a CPA formerly with RSO Advisors in California, will oversee the Denver office of Karsten Advisors as lead advisor.