Cornerstone Advisors announced that the company has acquired Orlando, Florida-based Next Step, Inc., a professional services team providing technology consulting services to banks and credit unions. Cornerstone Advisors, a leading authority on driving revenue and profitability improvements for mid-size financial institutions and fintech firms, is a portfolio company of Altamont Capital Partners.
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Executives from the two companies jointly affirmed that the acquisition will accelerate the strategic expansion of the combined firms and enhance professional growth opportunities for all employees.
“Both of our firms are motivated by a nationwide reputation for outstanding client service,” said Cornerstone Chief Executive Officer Scott Sommer, “and, like us, Next Step sees an opportunity to continue delivering the highest level of service by investing in people across the organization. Next Step’s complementary experience in core banking systems, implementations and contract negotiations adds additional depth to our ability to help banks and credit unions deliver competitive services to their customers.”
“This partnership is a positive and exciting development for Next Step that will help us, as part of the Cornerstone team, provide maximum results and advantages for all of Next Step’s clients, employees, and contractors,” said Next Step Founder Peter Jeye. “Our long tradition of an entrepreneurial culture and our highly engaged team’s passion to improve the strategies, technologies, and operations of our clients will be strengthened by this arrangement and enable us to take an expanded portfolio of services to our clients.”
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Casey Lynch, Managing Director of Altamont, said: “We are happy to have Next Step’s highly respected team join Cornerstone and fortify their position as the premier consulting firm serving banks and credit unions. This partnership will allow Cornerstone to expand its already best-in-class capabilities.”
Wande Olabisi, Vice President of Altamont, added: “The combination of the two firms will result in a stronger, more influential business in a demanding industry. Next Step’s experience and culture will complement Cornerstone’s market leadership and position the company for future growth.”
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