Prager Metis Advisory Practice Becomes PM Business Advisors

New York-based Prager Metis CPAs (FY14 net revenue of $35.6 million) has spun off and rebranded its advisory services practice under the name PM Business Advisors.

PM Business Advisors will offer state and local tax advisory services, including sales tax recovery and audit defense, federal tax advisory services, such as cost segregation and R&D tax credit studies, and business advisory services, such as accounts payable recovery and strategic sourcing.

Chris Vignone, a principal of Prager Metis, will be the CEO and managing director of PM Business Advisors. “The timing was perfect to spin off and rebrand our advisory services,” says Vignone. “Our advisory services has grown to a level where we wanted to offer an additional layer of independence to our clients and referral sources.” A new offering is called the Trusted Partner Program. “Through this program, we will work with CPA firms nationwide to offer unique, value-added services to their clients.”

The new structure will allow advisory services to remain focused on the Trusted Partner program and servicing Fortune 1000 businesses with asset and tax recovery services, the firm announced.

“Although we have had tremendous success with many of our advisory service offerings over the past three years, we believe that the proper platform for exponential future growth is an independent entity,” says Glenn Friedman, co-MP of Prager Metis. “We believe the new entity structure will be very attractive to PM Business Advisor’s target market and will allow the group to expand into additional service lines in a more efficient manner.”

PM Business Advisors will be headquartered in New York and will have additional offices in White Plains, N.Y., New Jersey and Los Angeles.