Haynie & Company Acquires Two CPA Firms

Salt Lake City-based Haynie & Co. (FY18 net revenue of $18.6 million) has announced its acquisition of two firms as of Dec. 1: Hales-Bradford of Brownsville, Texas, and W. Hamilton & Co. of Austin, Texas.

The move adds two more Texas locations to the firm, which already operates from offices in San Antonio and The Woodlands. “Our vision is to exceed expectations by focusing on growth, trust and communication. These new firms fit seamlessly with our strategic values and vision,” the firm announced.

Hales-Bradford, founded in 1949, provides auditing, accounting, tax and consulting services to businesses, individuals, trusts and estates. They have built a niche providing complete accounting and bookkeeping services to small businesses that do not employ full-time accountants. The firm also focuses on litigation support and forensic examinations.

W. Hamilton & Co. has served the greater Austin are for more than 12 years. The firm provides tax, accounting and assurance services to a wide variety of industries and clients. The team serves small and medium-sized owner-managed businesses, non-profit organizations and start-ups. The firm also works with individuals and business clients in the local, national and international arenas.

Reyes Admitted as Partner at Cherry Bekaert

Luis Reyes

Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.7 million) has admitted Luis Reyes as an assurance partner in the Atlanta practice.

Reyes will provide clients with audit, assurance and consulting services. He will serve clients in numerous industries including medical device and technology, professional services, specialty retailers, construction and real estate, health care and pharmaceutical companies.

With nearly 20 years of experience, he has extensive experience providing transaction advisory services to private equity groups, as well as strategic buyers, by performing accounting and financial due diligence in connection with mergers and acquisitions.

More news from Cherry Bekaert

RoseRyan Vice President David Roberson Named CEO

David Roberson

RoseRyan of Newark, Calif., announced that David Roberson will lead the firm as CEO on Jan. 1.

Roberson, who led Hitachi Data Systems as CEO, joined the firm last year as vice president. He is also the chief executive of RoseRyan subsidiary Kukuza Associates, which concentrates solely on the cannabis market.

Founder Kathy Ryan will transition from CEO to chair while retaining ownership of the Silicon Valley finance and accounting consulting firm she co-founded 26 years ago.

She will continue to work with clients, and will play a large role in RoseRyan’s strategic planning and investments, and serve as director of Bizinta, a business management software company spun out of RoseRyan.

Says Ryan about the change, “Dave is a strong leader – he’s ready to lead RoseRyan as we reach for the next stage of growth, and he’s the right person to take us there.”

Roberson became vice president after leading RoseRyan’s execution of the transition services agreement in DigiCert’s purchase of Symantec’s web security business, which was RoseRyan’s largest engagement to date.

Roberson says, “We’ll be propelling growth across the firm’s solution areas, and we’re well positioned, given the meaningful culture and brand that Kathy and the team have created and fostered over the years. What continues to impress me about RoseRyan is its clear strengths as well as the can-do attitudes and operational savviness that our consultants bring to every engagement.”

Roberson was a senior vice president at HP and worked at Hitachi for 26 years. He is chairman of the board of Push Technology, a global API management company.

More news from RoseRyan

Thomas Blaney to Lead New England Growth for PKF O’Connor Davies

Thomas Blaney

New York-based PKF O’Connor Davies (FY18 net revenue of $170 million) has appointed partner Thomas Blaney to lead the New England region.

Blaney serves as director of the private foundations practice. He also leads the firm’s governance committee. In his new role, Blaney will be responsible for financial and operational oversight of the firm’s New England offices while leading growth from Stamford, Conn., to Boston.

“As we expand our footprint in New England and build out the services and solutions we offer, we need a leader who can ensure that growth matches our culture and our commitment to next-level client service,” says MP Kevin J. Keane. “Tom’s long career with the firm and his experience in governance and executive leadership make him the perfect choice to oversee this ongoing effort.”

Blaney has more than 35 years of experience specializing in the accounting and tax aspects of exempt organizations and has been with the firm for nearly two decades. In his role as regional head of New England, he will lead cultural and operational partnerships with firms joining PKF O’Connor Davies in the New England area. This will include ensuring efficient transitions and collaboration throughout New England and with all 11 offices.

“I’m proud of the role I’ve played in shaping the direction of the firm as it’s expanded into new geographic areas and service capabilities, and this new position enables me to further focus on advancing the firm’s reach in this important market,” says Blaney.

Blaney is a recognized thought leader and frequent speaker, author and contributor to events and articles related to private foundations and not-for-profit topics. He sits on the boards of several not-for-profits.

More news from PKF O’Connor Davies

Survey: Businesses Regain Some Optimism on Economy but Trim Profit Outlook

Business executives regained some optimism about the U.S. economy after a sharp decline in the third quarter, yet continue to rein in forecasts for profit and revenue growth, according to the fourth-quarter AICPA Economic Outlook Survey.

The survey polls CEOs, CFOs, controllers and other CPAs in U.S. companies who hold executive and senior management accounting roles.

Some 50% of survey takers expressed optimism about the U.S. economy’s overall outlook over the next 12 months, up from 42% last quarter. That’s still low for the post-recession period – positive sentiment on the U.S. economy had been as high as 79% in early 2018, the AICPA reports.

U.S. executives’ outlook on the global economy, while far more pessimistic, also improved in the quarter. Some 28% expressed optimism, up four percentage points from last quarter.

Profit growth over the next 12 months is now expected to be 2.7%, down from 2.8% last quarter and significantly below the outlook of 4.3% a year ago. Similarly, 12-month revenue growth expectations dropped a tenth of a percentage point to 3.4 %, quarter over quarter. That’s down from 5% a year ago.

“We saw a sharp drop in U.S. economic optimism in the third quarter due to the U.S.-China trade war really driving uncertainty, so this quarter represents a correction of sorts, with prospects of a reasonable outcome,” says the AICPA’s Ash Noah. “But there also is a continued sense of unease and uncertainty about trade and growth prospects, and we’re seeing that in some of these more conservative forecasts.”

Hiring plans were a relatively bright spot this quarter. Some 43% of business executives said they had too few employees, compared to 38% last quarter. Of that group, 28% said they planned to hire immediately and 15% said they needed employees but were hesitant to hire.

The AICPA survey is a forward-looking indicator that tracks hiring and business-related expectations for the next 12 months.

Other key findings of the survey:

  • The percentage of U.S. executives who expressed optimism about their own company’s prospects over the next 12 months remained unchanged at 58%, quarter over quarter.
  • Survey respondents who said they expect their organizations to expand in the coming year fell two percentage points to 59% and has dropped 8% year over year.
  • Availability of skilled personnel remains the top challenge for businesses, a position it has occupied since the third quarter of 2017.

More news from the AICPA

Smolin Admits Joseph Montero as Partner

Joseph Montero

Fairfield, N.J.-based Smolin (FY19 net revenue of $19.8 million) announces that Joseph Montero has been admitted as a partner.

Montero’s primary responsibility has been managing audit engagements involving entities of all stages of their business life cycles from start-up entities to multi-million-dollar entities with complex organizational structures. He is knowledgeable in manufacturing, distribution, life sciences, technology, real estate, and the food and beverage industries.

“Joseph’s advancement at the firm is essential to strengthen our practice as he has demonstrated integrity and team spirit along with many other admirable attributes in his everyday work ethic,” says Ted Dudek, MP of Smolin, formerly known as Smolin Lupin & Co. “With his expertise in public accounting and extensive audit background, he proves that he will be a vital member to the success of not only the firm but also of our clients’ businesses.”

More news from Smolin

George Gans Joins KPMG as Partner

George Gans

George Gans has joined Big 4 firm KPMG and been admitted as a partner in the firm’s business tax services practice.

Gans, who will operate from Pittsburgh, brings to KPMG more than 20 years of diverse experience working with U.S. multinational enterprises in areas such as federal tax, M&A and structuring, accounting methods planning and international tax.

Most recently, he served as the tax MP of Deloitte’s Pittsburgh business unit. His Big 4 background also includes providing business and inbound tax services to multinational corporations and acting as a country tax liaison with France and Israel.

“We’re confident he will be a great source of leadership and experience for our clients and our team in Pittsburgh and throughout Pennsylvania,” says Pete Beale, KPMG’s business tax unit partner for Pennsylvania.

More news from KPMG

Clarus Partners Merges with Blue & Co.

Columbus, Ohio-based Clarus Partners (FY18 net revenue of $6.3 million) has merged with Carmel, Ind.-based Blue & Co. (FY18 net revenue of $83.2 million).

The deal was completed Dec. 1. The combined firm will operate as Blue & Co., and Clarus partners Barry Adelman, Michael Stevenson and Matthew Kaufman, will join Blue & Co.

The combined staff of Blue & Co. and Clarus Partners will total more than 450 professionals in 11 offices across Indiana, Ohio and Kentucky.

“Expanding the Columbus, Ohio, office is a strategic initiative of the firm, and combining with Clarus will help us on the road to achieving that initiative. We believe the expertise and reputation of both firms complement one another and offer a friendly, client-first culture,” says Brad Shaw, managing director of Blue & Co.

Stevenson adds that he believes the combination will not only help expand the commercial market in the Columbus area, but also provide growth opportunities for the firm’s associates.

Clarus Partners was founded in 2007 and serves clients with a range of business services.

More news from Blue & Co.

Squar Milner Acquires Accounting Practice of Arnold Zippel

Irvine, Calif.-based Squar Milner LLP (FY18 net revenue of $98.2 million) announces that on Jan. 1 it is merging in the accounting practice of Arnold Zippel, who operates a law and accounting firm in San Francisco.

Both practices focus on estates and trusts. The law practice will continue to operate separately.

The newly combined offices will result in over 130 professionals representing Squar Milner in the San Francisco region. This is the fourth merger for Squar Milner in the San Francisco area since Jan. 1, 2018. Squar Milner currently has eight offices in California and one in the Cayman Islands.

MP Steve Milner says, “After our considerable growth in San Francisco in 2018, we are excited to continue building out our San Francisco office. We are pleased to have Arnold join the Squar Milner team. He has long demonstrated a deep expertise in estate and trust planning for high-net-worth individuals.”

More news from Squar Milner

Jackson Thornton Admits Three New Partners

Montgomery, Ala.-based Jackson Thornton (FY18 net revenue of $29.8 million) announces that Christine Cook, William Sheffield and Eden Thornton have been admitted as the firm’s newest partners.

Cook, who works from the firm’s headquarters office, specializes in taxation of exempt organizations in addition to tax compliance and consulting services for closely held businesses and individuals.

Sheffield, who works in the firm’s Opelika, Ala., office, specializes in tax planning and consulting for individuals and closely held businesses.

Thornton, who also works from the headquarters office, specializes in tax planning and consulting services for closely held businesses and individuals. In addition, she leads the Montgomery office’s client accounting practice.

More news from Jackson Thornton