Two large accounting firms, Wipfli LLP and Eide Bailly LLP, have announced they are merging to create EB Wipfli LLP. The new entity will have 41 offices in 12 states across the central and western U.S., as well as two offices in India.

According to the company, EB Wipfli will be one of the top 15 accounting firms in the nation with more than $314 million in combined annual revenue and more than 70,000 clients.

The new company will comprise 2,327 associates, including 301 partners. Its national wealth management practice will rank as one of the largest in the accounting profession with nearly $3 billion in assets under management.

Wipfli is the affiliated accounting partner of Hewins Financial Advisors and Wipfli Hewins Investment Advisors LLC. Eide Bailly is a national CPA firm currently ranked among the industry's top 25 companies.

Hewins said it expects the merger to expand its national presence as a CPA-affiliated financial advisor. It will provide complete wealth management consulting services to Wipfli and Eide Bailly clients.

The new firm will coordinate tax, personal planning, estate planning and investment management, says Hewins founder and president Roger Hewins.

Pending regulatory approval, the deal is expected to officially close on June 1.