Archives for June 2016

IPA Spotlight On . . . Sandra Wiley

Sandra Wiley

Sandra Wiley

Name: Sandra Wiley

Firm: Boomer Consulting

Title: President

Accomplishments:

  • Accounting Today top 100 Most Influential People
  • CPA Practice Advisor Top 25 Most Powerful Women in Accounting
  • CPA Practice Advisor Top 25 Thought Leaders
  • Leading Edge Alliance “On the Edge” Innovation Award

As host of regional trainings around the country, what are emerging leaders telling you about what they need to learn to be effective managers?

I see next generation leaders every day that are smart, motivated and truly care about the future of their firm and the profession.  They are excited about what they are hearing about, including Advisory Services, deeper relationships with their clients and team, and less compliance work.  However, a reverse effect is happening that makes them very frustrated.  The lack of change they are seeing in their firm in all of these areas is demotivating.  They want to move forward, but they feel stuck.

You’ve said Boomer Consulting’s client base is “future-focused.” Can you give us an example of a firm that’s implemented a future-focused initiative and seen positive ROI?

We have been working with the firm of Bold Carlisle and Smith for the past 4 years.  They started as a foundationally good firm with challenges in leadership, process development, technology struggles and a lack of overall direction.  Today, they are seeing positive change in all of these areas.  Through the process of strategic planning, coaching, the Boomer Technology Circles Community and a new focus on process improvement they are a new and improved firm – and are certainly future focused!  Oh, and they reduced the number of hours spent on business entity tax clients significantly this year.

You’ve done quite a bit of work around employee engagement as an HR expert in the profession. If you could wave a magic wand, what’s the one thing accounting firms should do to better engage their employees?

Make time to truly manage their team.  Continuous and ongoing feedback, mentoring and reverse mentoring and including them in the strategic planning process are just a few ways to truly engage the team that surrounds you.  This is less generational than it is relational.  People will engage when they feel valued, and you can’t feel valued if you don’t really know the people that you are working with.  It sounds simple, but it is hard work.  Hard work does lead to amazing results in the area of retention, attraction and motivation!

You were recently named president of Boomer Consulting, Inc. as part of its long-term growth and succession plan. What do you hope the firm will look like in five years?

In 5 years Boomer Consulting, Inc. will continue to be a leader in the profession transforming firms in the areas of Leadership, Talent, Technology, Process and Growth initiatives.  We will use The Boomer AdvantageTM to ensure that our clients are growing in each of these areas and are connecting the dots between each of them. This will enable firms to be future ready.  We will continue to build a unique team of professionals that are consistently innovating and creating new services and new successes for our clients.

Final thoughts?

I am excited about the change that is occurring in the profession today.  It’s truly an exciting time. The firms that are ready to face the future with innovation and a positive attitude will be winners.  Helping firms transform and actually create a practice that will sustain them for the future is what gets me excited.  My passion – helping firms that are feeling stuck and even a little demotivated get excited about their future!

P&N Tech Launches POUNCE™

P&N Tech, the information technology subsidiary of Baton Rouge, La.-based Postlethwaite & Netterville APAC (P&N) (FY16 net revenue of $57.6 million) announced the release of its new custom-developed software application Pounce™.

Pounce is an easy-to-use, web-based system designed for service providers in the accounting, business consulting, legal and architect/engineer/contractor (A/E/C) industries. The purpose of the system is to provide employees access to marketing collateral and team member resumes to aid in business development and sales efforts.

Pounce’s core features include marketing material management, resume management and sales packet creation. Additional functionality includes powerful search capabilities and a mobile app to enable professionals to market themselves and their services on the go.

P&N has been using Pounce as a firm-wide business development and marketing tool since January, and recently made it available to other accounting and business consulting firms through its product launch at the Association for Accounting Marketing (AAM) 2016 Annual Summit last month in New Orleans.

The development of Pounce was a collaborative effort between the application development team of P&N Tech and the marketing and business development professionals of Postlethwaite & Netterville. Learn more about Pounce at www.GoPounce.com.

Hagan & Burns CPAs Merges with Janover

JRS Financial Services, an affiliate of Garden City, N.Y.-based Janover LLC (FY15 net revenue of $27.1 million) has merged in Hagan & Burns CPAs PC of New York, a two-partner practice specializing in regulatory and consulting services to the broker-dealer community.

Hagan & Burns will operate under the JRS brand. The union strengthens JRS’s position as the leading provider of financial management and advisory services to the financial services industry. The two partners of H&B, Len Hagan and Rosemary Burns, have joined JRS as principals.

“We are excited about adding the Hagan & Burns team to our organization. Their professionalism, wealth of knowledge and experience in the broker-dealer industry will prove to be tremendous assets for our clients,” says Chad Kirschenblatt, managing director, JRS Financial Services.

“Hagan & Burns has proudly served the broker dealer community on Wall Street and throughout the country for over 20 years, providing a variety of financial, operational, regulatory and compliance services. Hagan & Burns looks forward to our future with the Janover family, combining our experience and services, and enduring dedication to our clients,” say Burns and Hagan.

EBP Expert Named President of Foundation for Accounting Education

David Evangelista

David Evangelista

David Evangelista, a nationally known employee benefit plans advisor and auditor, was elected president of the Foundation for Accounting Education’s (FAE) Board of Trustees.

Evangelista is a principal at Cranford, N.J.-based MSPC Certified Public Accountants and Advisors PC (FY15 net revenue of $9.9 million). His one-year term as FAE president began June 1.

Established in 1972, the FAE is a 501 (c)(3) organization that operates the CPE programs for the New York State Society of CPAs (NYSSCPA). FAE offers a variety of online and on-site learning seminars and conferences in addition to monthly technical sessions.

The foundation’s 12 trustees typically meet four times a year, approve the annual operating budget, set the education-policy directives and oversee the Moynihan Fund, which awards scholarships for college students. The Moynihan Fund also provides funding for the Career Opportunities in the Accounting Profession program, a unique learning experience developed to expose promising underrepresented minority high school students to accounting and business careers.

Evangelista has more than 30 years’ experience advising and auditing ERISA (Employee Retirement Income Security Act) benefit plans.

He joined MSPC as a principal in January 2008, where his responsibilities include management and supervision of audit, accounting and tax clients in the public and private sector, including employee benefit plans, labor unions, non-profit organizations, individuals, corporations and partnerships. Evangelista also leads MSPC’s litigation support, forensic and fraud practice.

Since joining the NYSSCPA in 1988, he has served the organization in a number of different positions, including as a trustee for its CPA Political Action Committee and as a vice president and member on the Society’s board of directors.

He is the founder and first president of the NYSSCPA’s Rockland County Chapter, and has worked with other society members on a number of additional committees including finance, nominating and public school accounting and auditing.

CohnReznick Appoints Three New Members to Its Executive Board

Keith Denham

Keith Denham

The partnership of New York-based CohnReznick (FY15 net revenue of $575 million) has elected Keith Denham, Michael Monahan and Scott Sachs to serve as the newest members of the firm’s executive board.

The 10-member executive board is responsible for the firm’s business and growth strategy along with the CEO and oversees the day-to-day operations of the management committee. Each member’s term is three years with provisions for reelection.

“I’m excited for the contributions that Keith, Mike and Scott will bring to the executive board,” says Frank Longobardi, CEO. “I value their perspectives and insight and look forward to the progress we will all be able to make toward the firm’s strategic goals.”

Michael Monahan

Michael Monahan

Denham is managing principal and national director of CohnReznick Advisory. He brings more than 20 years of experience to his role and oversees a dedicated advisory team that helps management and directors of public, private, not-for-profit and governmental organizations balance the often-conflicting needs that result from growth, economic challenges, opportunities or crises.

Monahan is OMP for CohnReznick’s Long Island, N.Y., office. With more than 20 years of experience in both public and private accounting, his industry experience includes technology, retail, consumer products, and manufacturing and distribution. He has served as audit partner and, more recently, as an advisor to business owners and management of private and public companies who are seeking guidance on acquisitions, divestitures and raising capital. He has also provided advisory services for several initial public offerings.

Scott Sachs

Scott Sachs

Sachs is regional MP for CohnReznick’s West Region. He has more than 25 years of experience serving privately held and public companies – both emerging companies and those in the middle market. He works with clients in a variety of industries including high technology, manufacturing and distribution, retail and consumer products, apparel, biotechnology and franchises.

The other members of CohnReznick’s executive board are:

    • Ken Baggett, Chairman
    • Kevin Clancy
    • Robert DeMeola
    • George Klenovich
    • Risa Lavine
    • Phil Mandel
    • Ira Weinstein
    • Michelle Fleishman (at large)

Frazier & Deeter Expands Real Estate Practice with Project Finance Services

Atlanta-based Frazier & Deeter (FY14 net revenue of $61.6 million) has expanded its real estate services with the addition of FD Real Asset Advisors LLC (FDRAA), a specialized advisory and investment banking practice for real estate, infrastructure, energy, agriculture/natural resources and other real asset projects.

Developers and investors in real asset projects are facing a dynamic and, in some cases, narrowing capital market environment when it comes to finding a financing solution for their ventures. FD Real Asset Advisors will assist existing and new Frazier & Deeter clients in developing tailored financing strategies, performing feasibility studies and procuring private equity and debt capital to fund their real estate, private infrastructure and natural resources programs.

Lance Healy will join Frazier & Deeter to serve as managing director of FDRAA and as a principal in the firm’s advisory practice.

With more than 18 years of experience in the finance and real estate sector, Healy holds Financial Industry Regulatory Authority licensure as an Investment Banking Representative and Corporate Securities Representative. He is a licensed real estate broker in multiple states.

Healy previously held the position of managing director and founder at Real Asset Capital investment banking. He also has more than 10 years in the commercial real estate industry, where he held various positions with service companies and developers.

“We are delighted to welcome Lance, who will expand our firm’s strong real estate practice and extend our expertise regarding infrastructure and other real asset projects,” says Seth McDaniel, MP of Frazier & Deeter. “Adding a principal with Lance’s diverse background in investment banking, consulting and valuations will help Frazier & Deeter address the unique needs of our clients relative to their income-producing projects.”

“I am looking forward to expanding Frazier & Deeter’s real estate practice nationally and into other real asset sectors, while continuing to build relationships in the Atlanta area,” says Healy. “I am delighted to become part of the Frazier & Deeter team, with its stellar reputation for quality and customer service.”

The Bonadio Group Implements Three-Year Leadership Succession Plan

Thomas Bonadio

Thomas Bonadio

Pittsford, N.Y.-based The Bonadio Group (FY15 net revenue of $79.2 million) has put into place a leadership succession plan that begins a series of changes that lead to Thomas Bonadio handing over the CEO role in three years.

“Our firm has always done extensive long-term planning,” says Bonadio. “We are now planning for succession that will happen in 2019.”

The timeline and details of the succession plan are:

  • Effective May 1, 2016, Mario Urso became chairman of the firm’s board of directors. “Mario has more than 25 years with the firm, and he has the skills and trust of our partners to lead our board,” says Bonadio.
  • Also on May 1, Bruce Zicari was named Rochester OMP.
  • Over the next three years, Tom Bonadio will continue to mentor Zicari, whom has been voted by the firm’s partners to assume the CEO role on May 1, 2019.

“When I started this firm in 1978 at my kitchen table, I never imagined the milestones that we would exceed, the growth we would experience and the individuals who would make this business a family,” says Bonadio. “While I have no plans to retire, it’s time to implement our plan for the succession of our firm’s leadership. It’s a plan that has been meticulously designed to keep the company on track with our overall strategic plan, and will work as a seamless transition over the next three years.”

As chairman, Urso will lead the Bonadio board of directors and set the strategic direction for the firm. In addition to that position, he will continue to co-lead the firm’s health care/tax-exempt practice.

As Rochester OMP, Zicari will work with Bonadio COO Robert Enright to oversee the administration and operation of The Bonadio Group’s headquarters. In addition, he will continue to lead the firm’s small business advisory statewide practice.

“Mario and Bruce will continue to operate The Bonadio Group through the lens of our strategic business philosophies,” says Bonadio. “They will work closely with each other in an effort to continue to lead the firm down this path of success — not only for our employees, but also for our growing roster of clients.”

The Bonadio Group now serves more than 17,000 clients on a local, national and international scale, with an employee base of more than 700 across New York state.

Grant Thornton Adds Advisor to Manufacturing Industry Practice

William Hickey

William Hickey

William Hickey, retired chairman and CEO of Sealed Air Corp., a global manufacturing and marketing company, has been admitted as senior manufacturing advisor in the manufacturing industry practice of Chicago-based Grant Thornton LLP (FY15 net revenue of $1.56 million). Hickey will support the firm’s manufacturing industry practice throughout the United States.

“Bill is a former chief executive who rose to that position after many years in manufacturing, finance and accounting roles,” says Jeff French, manufacturing industry practice leader at Grant Thornton. “Bill has a strong understanding of our business, as well as manufacturing. We are excited to have his extensive experience within our industry practice, and know that his manufacturing experience will help us provide unique value to clients and prospects.”

Prior to his appointment as president and CEO of Sealed Air Corp. in 2000, Hickey served in a variety of executive positions at the company, including COO, executive vice president, CFO, and vice president and general manager of the Cellu products division and the food packaging division.

GBQ Names Powers Director of Assurance Services, Anderson as Senior Director

Tom Powers

Tom Powers

Columbus, Ohio-based GBQ (FY15 net revenue of $26.8 million) admitted Tom Powers as the next director of assurance services at the firm.

Powers joined GBQ in 2009. Prior to joining the firm, he was at Ernst & Young LLP for 21 years, serving as an assurance and business advisory services partner for the last seven years in the Columbus office. Powers will continue to serve clients in his new role.

Paul Anderson will assume the title and role of senior director. Anderson served as GBQ’s director of assurance services for 27 years. In his new role, he will focus on practice development and enhancing service to clients.

Paul Anderson

Paul Anderson

Additionally, he will continue to oversee the maintenance of the firm’s quality control standards, including interpreting current and new accounting, auditing and independence standards on behalf of GBQ and its clients.

“If you have met Tom, you know of his inquisitive mind and boundless energy. I have no doubt that he will bring both of these attributes as director of assurance. I congratulate Tom, and look forward to working with him as he assumes this new role with GBQ,” says Anderson.

Teal Becker & Chiaramonte Celebrates Its 45th Anniversary

This month marks the 45th anniversary for Teal Becker & Chiaramonte CPAs PC (TBC) (FY15 net revenue of $13 million) of Albany, N.Y., a member of CPAmerica International since 2003.

John Chiaramonte, a founder of the firm, now serves as chairman. He recently shared his reflections on doing business for 45 years.

“The automation and tax complexity has definitely changed from then to now, but the way we do accounting has always been the same,” says Chiaramonte. “It’s been a lot of fun. We’ve really been blessed with good fortune and associates, and we’ve grown because of them.”

The other namesakes of the firm, Ron Teal and Larry Becker founded TBC with Chiaramonte in 1971. Teal, who last worked at TBC during tax season in 2015, congratulated TBC on its 45th anniversary. “I’m glad I was a part of it for many years and that they are continuing,” says Teal. “I always enjoyed working with all of the people. It was a very friendly atmosphere to work in, and I think that helps to make the firm continue.”

Becker, who left his career in public accounting in the 1980s to establish a real estate development business, has been a loyal client for more than 30 years.

“Windsor Development has happily used TBC for tax services since its inception,” says Becker. “I have watched the growth of TBC with great admiration always knowing it would be a success, and am sure that success shall continue in the future.”

Nearing its fifth decade of client service, TBC has been serving thousands of businesses and individuals in the areas of accounting, auditing, tax and advisory services, as well as other specialty services including pension administration services, employee benefit plan audits, estates and trust planning and administration, business valuations, forensic accounting and cost segregation studies. Over the last 45 years, the firm has significantly grown its client base and looks to continue this trend, while continuing to provide the close, personal attention that the clients need.

One aspect of the firm that has certainly changed is its size. Starting with only four employees, today it employs 95 associates, including 52 CPAs – the most in any public accounting firm in the Albany area. While the firm has moved its physical location several times to accommodate the growing number of employees, the current staff all operate out of one office building – and there are no plans to change the headquarters.

In addition to real estate developers, the firm’s commercial clientele includes construction contractors, distributors, manufacturers, professional service firms, automotive dealers, retailers, technology companies and wholesalers, among other businesses.