IPA INSIDER: Advice to Managing Partners from the Trenches

If you’ve ever felt frustrated motivating partners, and managing their range of personalities and egos, perhaps there’s some comfort in knowing you’re not alone.

INSIDE Public Accounting asked MPs to offer insights to their role as firm leader.

More than 70 MPs responded to IPA’s survey, sharing candid feedback on challenges faced and solutions found, the frustrations and rewards, the misconceptions and realities.

In this download, IPA uncovers just what MPs think of the position.

MPs answer questions such as…

  • What one thing do you wish someone told you when you became MP about the reality of partner motivation?
  • What one thing do you wish someone told you about aligning the firm behind a common vision?
  • How do you balance gaining consensus from the partner group with the need to make decision quickly?
  • How would you change your firm structure?

Download the report. 

KBKG Welcomes Wallace, Relocates Office

Pasadena, Calif.-based KBKG, an affiliate of KROST CPAs and Consultants (FY16 net revenue of $25.6 million) recently relocated their New York City office to a larger workspace. The new space will provide additional resources in a more centralized location for the team.

KBKG New York also welcomed Liz Wallace as director of research and development tax credit services to expand technical expertise as the practice continues to grow. Wallace, has more than 12 years consulting businesses in the pharmaceutical, life sciences, automotive, manufacturing, internal and external use software industries.

“Their dedication to providing clients with top quality service is already well known. I am so proud to join such a well-respected firm and I look forward to partnering with and further developing the R&D Tax Credit practice,” says Wallace.

“New York is a fantastic, booming city of growth and industry. We’ve developed so many lasting relationships in the New York and surrounding markets and look forward to building more for years to come. The new office and the addition of Liz to our team allow us to elevate our service model while maintaining our focus: providing turn-key solutions to CPAs and businesses,” says Malik Javed, principal at KBKG.

PKF Texas Promotes New Director and Shareholders

Nikki Homratsamy

Nikki Homratsamy

Houston-based Pannell Kerr Forster of Texas (FY16 net revenue of $24.2 million) welcomed Nikki Homratsamy as tax director. Additionally, Ryan Istre and Chris Hatten have been added to the shareholder group.

“Nikki, Ryan and Chris have all contributed greatly to PKF Texas, and we are proud of their achievements,” says Kenneth Guidry, president. “These are important milestones in their respective careers and for the firm’s consistent success.”

Ryan Istre

Ryan Istre

Homratsamy has spent the majority of her career serving clients in the middle market, including a number of closely-held and publicly-traded companies in a variety of industries including manufacturing and distribution, oilfield services and technology. She joined the firm in 2010.

Chris Hatten

Chris Hatten

Istre has experience in providing external audit services to domestic and international businesses in the areas of real estate, manufacturing and energy services for both the public and private sector. He joined PKF Texas as an associate in 2000.

Hatten’s experience includes audit and financial consulting for publicly owned and privately held businesses. Areas of industry concentration include power generation, oilfield service, midstream energy, hospitality, manufacturing and software development companies. He joined the firm in 2006.

Alvarez & Marsal Taxand Expands R&D Tax Credit Expertise

Alvarez & Marsal Taxand, an affiliate of New York-based Alvarez & Marsal, acquired Houston-based TRCG Advisors, effective Dec. 31, 2017. Tomas Nally and Andrew Murrell join A&M Taxand as managing directors.

Founded in 2009, TRCG Advisors has provided small and mid-market companies assistance with planning and claiming tax credits and incentives, namely federal and state research and development tax credits, cost segregation studies, 179D projects and specialized tax incentive projects.

“TRCG Advisors’ joining A&M Taxand is a complete win-win for our clients,” says Ernie Perez, managing director and global practice leader of Alvarez & Marsal Taxand. “Their professionals enhance our existing R&D tax credit expertise, a knowledge base we’ve been looking to expand to better serve our clients. The result is a strong strategic partnership that supports our commitment to meeting clients’ evolving needs.”

“The combination of A&M Taxand’s vast talent and resources in specialized tax services, along with our experienced and dedicated team, will greatly benefit and add value for our clients and stakeholders,” says Nally.

Maloney + Novotny Acquires Smith Barta & Company

Cleveland-based Maloney + Novotny (FY16 net revenue of $19.5 million) acquired Smith Barta & Company of Canton, Ohio.

Eleven members of Smith Barta & Company, including Doreen Smith, Tim Barta and David Schrade, will join Maloney + Novotny.

“By joining M+N we gain deep industry expertise with dedicated niche leaders and a mission and vision that we share and believe in,” says Smith, a founding partner with Smith Barta. “The strength of our two firms will be very complementary and allow us to provide the best for our clients and additional opportunities for our employees.”

“By combining the resources of two excellent accounting firms, we can better meet the needs of our clients as they grow and expand.  We continue to explore opportunities that will contribute to the success of our clients, employees and shareholders throughout Ohio,” says Matt Maloney, managing shareholder of Maloney + Novotny.

Wilkin & Guttenplan Admits Three Principals

Joseph Chorba

Joseph Chorba

East Brunswick, N.J.-based Wilkin & Guttenplan (FY16 net revenue of $16.4 million) admitted three principals, Joseph Chorba, Maureen Jasper and Thomas Pedersen, effective Jan. 1.

“I have always believed that the most important thing firm leadership could do is to develop the next generation coming up the ranks,” says Edward Guttenplan, managing shareholder. “With their combined background, they are well positioned to play an integral role in the professional growth of the firm and commitment to our collective vision.”

Maureen Jasper

Maureen Jasper

Chorba has been with the firm since 2002 and divides his time between working with clients in the real estate industry and closely-held businesses. As part of his real estate expertise, Chorba works with common interest realties throughout New York and New Jersey. His work with them includes audits, compilations, forecasts and consulting assisting real estate clients with sponsor transition procedures and project management. Chorba provides closely-held businesses with audit, review, compilation, tax planning and compliance and other miscellaneous consulting services and is well-versed in accounting software packages for small and medium sized businesses.

Thomas Pedersen

Thomas Pedersen

Jasper has been with the firm since 2003. She is a tax professional specializing in providing tax consulting and compliance services. Her clients include high-net-worth individuals, various types of trusts, estates, multi-state corporations and partnerships, closely-held businesses and real estate entities. Jasper has experience in tax planning, tax research and estate planning.

Pedersen joined the firm in 2003 and provides accounting, tax and consulting services to real estate entities including commercial properties and condominiums, cooperative corporations and homeowner associations in both New Jersey and New York. His real estate experience includes audits, compilations, sponsor transition procedures, preparation of financial forecasts for new construction, and tax preparation for other real estate entities. Pedersen also provides audit, review and compilation services for closely-held businesses in a variety of industries including telecommunications, technology, hotels and lodging.

DFK Canada Welcomes New Member Firm

DFK Canada welcomed Saskatoon, Saskatchewan-based Buckberger Baerg & Partners, which was established in 2014 by eight partners.

“Since launching the firm, vice-president of the Americas region Paul Panabaker has been extremely generous and helped us make connections before we even became members and has also been kind enough to let us join the last conference, so it is clear that DFK is really willing to help us on our journey. Being part of the global organization will be a huge benefit to our clients and there is a lot of expertise we can draw upon,” says Ashley Buckberger, partner.

“Buckberger Baerg & Partners is in its infancy and it will be excellent to help the firm grow,” says DFK Canada president Andrew Logan. “Saskatchewan is a province where there is a lot of economic activity and I am excited to see the firm develop and expand. I think they will be a good fit for DFK Canada.”

EY Names Boland as Vice Chair and Central Region MP

Julie Boland

Julie Boland

New York-based EY (FY16 gross revenue of $11.2 billion) named Julie Boland as EY vice chair and central region MP, succeeding Kelly Grier, effective July 1, 2018.

In her new role, Boland will be responsible for driving market leadership, developing and retaining talent, creating high-performing teams and providing exceptional client service for a regional practice of 10,000 professionals spanning 15 states and 17 offices.

“The central region is one of EY’s largest regions and its strong position comes from our purpose of building a better working world,” says Grier. “Julie has a passion for our people and culture having led Cleveland, the region’s second largest office, with outstanding growth, people engagement and recruiting results. During her 30-year career, she has served a variety of EY clients and is known for quality and integrity. Julie knows our region well and has the passion, mindset and experience to move it forward.”

“EY’s central region is known for its innovation, exceptional client service and its best-in-class execution of the talent agenda and people engagement. Under Kelly’s leadership, EY’s central region has built impressive momentum that I look forward to building upon,” says Boland.

Boland began her career as a CPA in the audit practice of another Big 4 firm. She then worked at J.P. Morgan and Goldman Sachs leading up to her CFO roles at publicly- and privately-held companies. Boland has served as EY’s Cleveland OMP since 2014.

Leone McDonnell & Roberts Admits Brown as Partner

Shauna Brown

Shauna Brown

Wolfeboro, N.J.-based Leone McDonnell & Roberts admitted Shauna Brown to partner.

Brown has been with Leone McDonnell & Roberts since 2006. As vice president and partner, she brings a depth of knowledge and experience to the firm, specifically in the areas of audit and review services and tax planning and preparation.

“Shauna is a tremendous asset to our clients,” says Jack Callahan, president and MP. “A testament to our firm’s core values, Shauna is committed, dedicated and focused on delivering a high level of personalized service to our clients.”

Rosen Sapperstein & Friedlander Moves Headquarters

Owings Mills, Md.-based Rosen Sapperstein & Friedlander (FY16 net revenue of $11.2 million) has moved its headquarters to Towson, Md., according to The Baltimore Sun. The new office will house more than 50 employees and has room for future expansion.

“Our goal in designing the new space was to create a collaborative work environment that promotes open dialogue and creativity, thereby allowing us to service current and future clients even better than before,” says Jeffrey Rosen, a partner at RS&F.

RS&F offers consulting, tax, audit, business valuation and accounting services to middle-market businesses and high-net-worth families, primarily along the East Coast.