2017 IPA 100 Fastest-Growing Firm Profile: Cohen & Company

Cohen & Co., which has enjoyed organic growth of more than 17% over the previous fiscal year, has been ranked as one of the fastest-growing firms among the largest 100 firms in the nation. When the acquisition of GHD CPAs and Advisors of St. Clair Shores, Mich., was added, the firm grew by 34.5%, bringing it from No. 74 on the IPA 100 list in 2016 to No. 61 this year. INSIDE Public Accounting asked MP Randall Myeroff to offer his insights into his firm’s success, growth goals, top clients and predictions on how the accounting profession may change over the next 10 years. Congratulations to the entire Cohen & Company team.

Randall Myeroff

Randall Myeroff

Firm: Cohen & Company
CEO: Randall Myeroff
Headquarters: Cleveland
FY17 Net Revenue: $67 million
Organic Growth Rate: 17.1%
Total Staff: More than 400; 53 partners
No. of Offices: 10
Year Founded: 1977

To what do you attribute your ability to grow the firm so significantly?

Our growth, recently and over our 40-year history, is anchored in technical excellence and a passion to serve our clients. To do this, we have been committed to the trifecta of over-hiring at the entry level, attracting skilled lateral talent and having crazy-low attrition. Great people and great culture allow us to listen, engage and deliver sustainable value to our clients in ways that set us apart in the market.

Tell us about the types of services you provide to your top three clients.

With a higher percentage of tax professionals than many firms our size, strategic tax planning and compliance make up an important part of our value proposition. That planning covers the full business life cycle from start to disposition, including personal planning for the owners. Attest services are also a significant part of what we do and how we bring value to our clients. And as their needs and businesses have evolved, so has the strength and reach of our advisory services, including M&A advisory, transaction services and management consulting.

What are your growth goals for the next five years?

Our goal is to continue annual organic growth of 10% to 15% over the next five years, coupled with opportunistic acquisitions of talent and firms in either our current geographies or new geographies that align with our strategic plan.

What type of client is an ideal fit for your firm?

We are passionate about what we do, so we love working with others who are passionate about what they do. Our private company services division helps private company owners, family businesses, executive management and private investors who lead companies with revenue in the tens of millions to over $1 billion. Our investment industry services division works with newly seeded funds to well-established, multiple-fund families who want to remain compliant and thrive. Our firm works with innovative, motivated leaders who want more — whether that means help finding additional tax savings, remaining compliant or navigating the challenges of running a successful organization.

Can you predict how accounting firm services will change over the next 10 years?

Technological advances will have a significant impact on the accounting industry, and all industries, over the next 10 years as artificial intelligence and robotics further automate certain tasks and activities. In addition, we believe consolidation within public accounting will continue to accelerate as firms navigate ownership succession, compete in the war on talent and continue to focus on critical specialization of services.