The firm's wealth department won last year's Institute of Financial Planning David Norton award.
Ade Cheatham will be taking over from Jeremy Bowler as chief executive, a role Mr Bowler has held for the past 15 years.
Mr Cheatham has worked at Cooper Parry since 2004 and as chief operating officer since 2010.
The move will see Mr Bowler taking on the new role of chairman following the departure of Colin Shaw. Mr Shaw will be staying at Cooper Parry but will be taking on a role to help the firm grow the number of private and family-owned business clients.
Mr Cheatham said he had some ambitious targets for the firm which he wants to dominate the £5m-£100m turnover market in the Midlands region.
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He said "I am delighted and honoured to have the opportunity to lead Cooper Parry and succeed Jeremy who has been a fantastic chief executive, driving the development of the firm to what it is today. We have a clear and simple vision, to be No 1 in the markets that we operate.
"We'll continue to focus on what we do best, working with privately owned businesses and aiming to dominate the £5m - £100m market in the Midlands.
"We're incredibly ambitious, in great shape and have a robust and highly profitable base to build from, nothing is off agenda. What is certain is that we won't stop until we're No 1 in our chosen market, and when we are No 1, we'll look further and widen that market."
Mr Bowler said: "Mr Cheatham is ideally placed to take the firm forward. He has a strong grasp of the challenges and opportunities facing our clients, excellent people skills, and a strategic vision for the future of our firm".
The firm has offices in Derby, Leicester, Nottingham and London and offers advice on wealth, tax, corporate finance and audit.

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