Congratulations to the 2018 IPA 100 All Growth Fastest-Growing Firms

IPA identifies the 10 fastest-growing IPA 100 firms based on reported all growth in net revenue, including the influence of mergers.

This year’s IPA 100 Fastest-Growing Firms experienced an impressive average all growth increase in net revenue of 27.9%.

The 2018 IPA 100 All Growth Fastest-Growing Firms

Squar Milner LLP / Newport Beach, Calif. / 40.0%
Prager Metis CPAs LLC / New York / 35.8%
The Siegfried Group LLP / Wilmington, Del. / 30.5%
Schellman & Company LLC / Tampa, Fla. / 28.1%
Lutz / Omaha, Neb. / 25.6%
Cohen & Company / Cleveland / 25.3%
Kearney & Company / Alexandria, Va. / 25.0%
Armanino LLP / San Ramon, Calif. / 24.4%
Macias Gini & O’Connell LLP / Los Angeles / 22.8%
RubinBrown LLP / St. Louis / 21.8%

View the 2018 IPA 100, 200 and 300 rankings.

Order your 2018 IPA Benchmarking Tools.

Just Announced: The 2018 IPA 100

Congratulations to the 2018 IPA 100 Firms

INSIDE Public Accounting unveils the IPA 100 – the annual list of the largest 100 accounting firms in the country. Find out if your firm made the list.

IPA subscribers and firms that completed the IPA survey will receive the August issue, which features the IPA 100, IPA 200 and IPA 300 list, the fastest-growing IPA 100 firms, and an analysis of the data. The newsletter will be released this week.

Demographics of the Public Accounting Profession – 2018

The Big 4 firms collectively represent $56.5 billion in revenues, making up 75% of the total revenue of the IPA 100. The next 96 firms represent $20.1 billion in total revenues. Excluding the Big 4, 42 firms are known as the IPA $100 Million Club, with revenues above that number. The 96 non-Big 4 firms collectively employ more than 90,000 staff across the United States.

View the 2018 IPA 100, 200 and 300 rankings.

Reprints

For copies of the 2018 IPA 100 Firms issue, customized reprints and pricing information, please contact Chelsea Summers.

Subscribe to the IPA monthly newsletter today!

About The Platt Group and INSIDE Public Accounting: INSIDE Public Accounting (IPA), founded in 1987, is published by The Platt Group. The Platt Group publishes both the award-winning INSIDE Public Accounting newsletter and the award-winning National Benchmarking Report.

Congratulations to the 2018 IPA 100 Fastest-Growing Firms

IPA identifies the 10 fastest-growing IPA 100 firms based on reported organic growth in net revenue, without the influence of mergers. While growth with mergers represents the true growth, isolating organic growth provides insight into the strength of the growth engine of the firms.

This year’s IPA 100 Fastest-Growing Firms experienced an impressive average organic increase in net revenue of 18.3%.

The 2018 IPA 100 Fastest-Growing Firms

The Siegfried Group LLP / Wilmington, Del. / 30.5%
Schellman & Company LLC / Tampa, Fla. / 28.1%
Kearney & Company / Alexandria, Va. / 25.0%
Raich Ende Malter & Co. LLP / New York / 20.4%
Cohen & Company / Cleveland / 16.1%
Frazier & Deeter LLC / Atlanta / 13.0%
Berkowitz Pollack Brant / Miami / 12.7%
SC&H Group / Sparks, Md. / 12.5%
SingerLewak / Los Angeles / 12.3%
Andersen Tax / San Francisco / 12.2%

View the 2018 IPA 100, 200 and 300 rankings.

Order your 2018 IPA Benchmarking Tools.

Congratulations to the 2018 IPA 200 and 300 Firms

The IPA 200 list takes up where the IPA 100 leaves off, ranking the 101st through 200th largest accounting firms in the nation. The accompanying analysis, scheduled for the September issue of IPA, is one of the most comprehensive, accurate and largest of its kind and reflects the “state of the union” of the profession.

The annual IPA 300 list takes up where the IPA 200 leaves off, ranking the 201st through 300th largest accounting firms in the nation.

View the 2018 IPA 100, 200 and 300 rankings.

Reprints

For copies of the 2018 IPA 200 and 300 Firms issue, customized reprints and pricing information, please contact Chelsea Summers.

Subscribe to the IPA monthly newsletter today!

About The Platt Group and INSIDE Public Accounting

INSIDE Public Accounting (IPA), founded in 1987, is published by The Platt Group. The Platt Group publishes both the award-winning INSIDE Public Accounting newsletter and the award-winning National Benchmarking Report.

Platt’s Perspective: Will The Definition Of Success Change For Firms In The Future?

Mike Platt

Mike Platt

Ever since key performance indicators were created for accounting firms, measurements of success have been dominated by traditional metrics like growth percentages, leverage, revenue per charge hour, revenue per FTE, utilization, realization, profit margin and the ultimate target – net income per equity partner.

In recent years however, conversations have turned to targets of a different nature – staff satisfaction, investment in the future, re-imagining the business model, bench strength, succession planning, staying relevant and transformational change, to name a few.

As we enter a new year, it’s the appropriate time to look at the old and the new, and question how the profession’s definition of success may change over time.

How are firms marrying the traditional metrics with the top-of-mind issues listed above? Who will “win” the new game, and how will that be measured? What are the new goalposts that will define future performance and overall success?

Some suggest that traditional metrics no longer meet the needs of the profession, and point to benchmarks such as net income per equity partner as no longer relevant. Others vehemently oppose this notion, arguing that no targets are achievable without a solid business foundation that generates acceptable / suitable / achievable profits for partners.

A middle ground is needed – one that accounts for not only traditional performance metrics but also perceptions of staff, partners and customers and the firm’s impact on the lives of those it touches. At the 2017 PRIME Symposium, firms began this exploration of new measurements to assess the well-being of the firm as well as partners, staff, clients and communities they serve. IPA is committed to building on this holistic approach going forward to help firms achieve the balance between the objective and subjective indicators of success.

In the meantime, I challenge everyone to consider how the definition of success might change for your firm in the coming years. What do the current partners think? What do the next generation of partners think? How big is the perception gap between the two groups? Our goal is to understand that gap and bridge it to build a shared vision of success in the future.

The 2018 IPA Accounting Firm National Benchmarking Surveys Are Open For Participation

The 2018 INSIDE Public Accounting (IPA) Annual Survey and Analysis of Firms is now open to all accounting firms in North America. The results of the annual survey is the IPA National Benchmarking Report, the IPA 100, 200 and 300 firms ranking, and the coveted IPA Best of the Best firms. If you would like to participate, please contact our office.

DEADLINES FOR SURVEY SUBMISSIONS – FIRMS WITH FISCAL YEAR-ENDS OF…

…May 2017 through December 2017: May 4, 2018
…January 2018 through March 2018: May 31, 2018
…April 2018: June 15, 2018

THE 2018 IPA SURVEY AND THE INTERNAL OPERATIONAL SURVEYS ARE OPEN FOR PARTICIPATION

Your firm must complete the IPA Survey and Analysis form in order to participate in any of the Internal Operational Surveys (Firm Administration, Human Resources and Information Technology). If you would like to participate, contact our office.

Gain a competitive advantage and grow your firm with industry insight from the independent benchmarking leader in the nation.

BENEFITS OF PARTICIPATION

  • The opportunity to be included in the largest annual management of an accounting practice (MAP) survey in the country. To be benchmarked with more than 540+ firms nationwide and potentially be ranked among this year’s top firms in the: IPA 100, IPA 200, IPA 300 and the coveted IPA Best of the Best Firms in the nation.
  • If you participate in the survey, you will receive a complimentary copy of the August 2018 issue of the award-winning INSIDE Pubic Accounting newsletter. This issue highlights the annual IPA 100, 200 and 300 firm rankings, along with a detailed financial and operational analysis of the rankings.
  • An electronic complimentary copy of the 2018 Executive Summary, of the IPA National Benchmarking Report. If you participate in any or all of the Internal Operational surveys, you will also receive a complimentary executive summary when published in the fall.
  • You will receive preferred pricing on the 2018 IPA National Benchmarking Report, the Internal Operational Reports and other benchmarking items. You may pre-order your reports now.
  • You will get preference for selection in articles written by IPA throughout the year, (an excellent opportunity to market your firm).

CONFIDENTIAL DATA – WHAT YOU CAN EXPECT FROM INSIDE PUBLIC ACCOUNTING 

All confidential firm data, including salaries, compensation, income, etc., will be held in strict confidence. Salaries, compensation and sensitive data, such as income, revenues by niche, etc., will NOT be shared or publicized. We take extreme pride in our ability to collect this data to assist the profession and are now celebrating nearly three decades of surveying accounting firms across the globe.

Please contact IPA at survey@plattgroupllc.com with any concerns or questions. IPA conducts a thorough review of each survey submission for commonly missed areas and for any and all errors. IPA will contact the person / contact named on the submitted survey form for any and all clarifications / updates. Some data, such as firm name, MP(s) name, firm net revenue, and organic growth may appear in the IPA Newsletter (if accolades are given).

IPA ASSOCIATION PARTNERSHIPS: INSIDE Public Accounting is pleased to partner with the following associations to provide survey and benchmarking services for their member firms: Alliott Group, CPAmerica International, DFK International, INPACT Americas, HLB North America, LEA Global, Moore Stephens North America and PrimeGlobal. Please contact The Platt Group / IPA with any questions at (317) 733-1920.

INSIDE Public Accounting Releases The 2017 Accounting Firm Internal Operational Reports

INSIDE Public Accounting (IPA) has released their sixth annual Internal Operational Reports, comprised of the Firm Administration Report, the Human Resources Report and the Information Technology Report. This release coincides with the release of IPA’s 2017 National Benchmarking Report.

These internal operational reports examine further the operations and best practices of hundreds of accounting firms across North America, offering information on compensation, business incentives, bonuses, turnover, recruiting, partner compensation, technologies used and dozens of other topics and metrics – broken out by revenue bands and regions of the country.

The IPA Internal Operational Reports are used by managing partners, firm leaders, marketers, attorneys, firm administrators and business development directors to compare their firm’s performance against others, and to uncover trends, ideas and techniques to improve operations.

Key highlights from the 2017 INSIDE Public Accounting Firm Administration Report:

  • Training directors are now employed by 23% of all firms. In firms above $30 million, that number jumps to 54%.
  • Firms above $30 million are employing more social media staff this year, with 48% of firms of this size reporting they have someone dedicated to this area. Overall, 19% of all firms have social media staff, up from 16% last year. The average salary of a social media staff member is $60,579.
  • Sixty-seven percent of firms charge interest on overdue accounts receivables, with the average charging 1.3% monthly.
  • One in 15 firms report outsourcing some portion of tax return processing work, with the majority of those coming from firms greater than $30 million in revenue.
  • Firms acknowledge that they want staff looking for new business opportunities, whether it comes in the form of new clients or additional services to existing clients. Sixty percent of firms offer incentives for bringing in new clients for 0- to 2-year staff and 3- to 5-year staff. More than half the firms offer these incentives for all experience levels.

Key highlights from the 2017 INSIDE Public Accounting Human Resources Report:

  • Professional staff turnover declined this year, to 12.4% nationwide from 13.9% for the 2016 reporting year.
  • Professional staff have an average tenure of 6.6 years, about 100 days longer than in 2016, and roughly one year longer than a decade ago. Over the last decade, the tenure of professional staff employed at the largest firms, those over $75 million, trailed the all-firm average by as little as six months in 2007 to as much as 1.4 years in 2011. At that time, the average tenure was 4.5 years for professional staff at firm of over $75 million.
  • Nearly 50% of firms offer telecommuting options to all staff and 28% offer it to professional staff only.
  • Seventy-seven percent of firms offer flexible work schedules to all staff, while 16% limit this benefit to professional staff only.
  • Just one in six firms report they have a diversity recruiting program. One in three firms above $50 million report a diversity program in place.
  • Seventy-eight percent of all participating firms indicate they have a mentoring program in place. Twenty-six percent of firms offer outside mentor / life coach to staff members. Only one in nine firms rate the effectiveness of their mentoring program as “excellent.” Four percent rate their program as fair or poor.

Key highlights from the 2017 INSIDE Public Accounting Information Technology Report:

  • Sixty-seven percent of participating firms have a Bring Your Own Device (BYOD) plan for cell phones, with nearly 14% implementing within the last year. This increase is mostly seen in firms below $20 million and those in the $30 million to $75 million revenue band.
  • IT maintenance of applications is easier when using the cloud, according to 74% of respondents.
  • Cloud-based applications are being used more frequently across the board, and continue to be dominated by research (81% of firms), client portals (75%) and payroll (54%).
  • Only 30% of all participating firms have instituted a formal procedure to ensure information technology projects / issues are effectively managed

For additional insight into the results of the 2017 IPA Internal Operational Reports, access complimentary copies of the executive summaries.

INSIDE Public Accounting Releases 2017 National Benchmarking Report

INSIDE Public Accounting (IPA) has released the 28th annual National Benchmarking Report, based on fiscal year ends from September 2016 to June 2017. The release coincides with IPA’s release of The 2017 Accounting Firm Internal Operational Reports.

This report, the largest of its kind, is based on survey results from 559 North American accounting firms – a strong representation of the profession, including 238 firms under $10 million, 248 firms between $10 million and $50 million, and 73 firms above $50 million in net revenue. The report covers fiscal years ending from September 2016 to June 2017.

INSIDE Public Accounting’s National Benchmarking Report provides detailed information in 80+ pages of tables presented in nine different revenue bands and regional breakouts so firms can easily compare with other similar-sized firms.

Key highlights from the 2017 INSIDE Public Accounting National Benchmarking Report:

  • Top-line organic revenue growth (excluding merger activity) fell this reporting year to 5.3%, down from 6.3% last year.
  • Merger activity remains strong, with 50% of firms above $50 million reporting at least one merger last year and across all firms, 19% reported at least one merger.
  • Increases in personnel costs as a percentage of total net revenue have contributed to lower profit margins for firms of all sizes, with the national average of net income as a percentage of net revenue now at 29.1%, down from 30.1% in 2016.
  • Professional staff turnover is down in firms of all sizes, with a nationwide average of 12.4% professional staff turnover.

“The ‘glass half full’ view is that many firms are recognizing the need to change and adapt to new technologies and client demands for the future, and are starting to make some of the investments needed to accomplish that. They are forgoing short-term profits to make investments in the future,” says IPA Publisher Mike Platt.

“The ‘glass half empty’ view is that the business model that has contributed to generations of healthy growth and ever-increasing income is showing signs of strain. More sophisticated clients are demanding more services, technological disruptions are challenging the status quo, and generational shifts in the way business is done are all forcing the profession to create new ways of delivering value,” says Platt.

The IPA National Benchmarking Report is used by managing partners, firm leaders, marketers, attorneys, firm administrators and business development directors to compare their firm’s performance against others, and to uncover trends, ideas and techniques to improve operations.

Additional highlights from the 2017 INSIDE Public Accounting National Benchmarking Report:

  • Billing rates inched up for equity partners this year by 1.4% to an average of $345 for all firms.
  • Net income growth averages slowed slightly – to 5.2% from 7.8% in 2016. Factoring in the effects of mergers, the all growth rate slowed to 6.4%, down from 9.1% in 2016.
  • The average equity partner compensation for all firms is up an average of $10,000, to a nationwide average of $456,043.
  • Annual staff merit increases ranged from 5% to 7% on average, across all revenue bands and professional staff positions. Billing rate increases, however, were in the 4.0% to 4.5% range.
  • The percentage of female ownership this reporting year is at 18.9% for all firms, up from 17.5% in 2016.
  • Of more than 10,000 equity partners represented by participating firms, just 2% work a part-time or alternative schedule.
  • The average percentage of total professional staff with a CPA license is slowly inching downward in non-Big 4 firms. Across all firms, non-CPAs now make up an average of 57.9% of all professional staff, including partners.

The 2017 INSIDE Public Accounting National Benchmarking Report covers partner compensation, administrative salaries, revenue by service line, partner workloads, marketing costs, training requirements, realization, retirement plans and dozens of other metrics – both by revenue band and region of the country.

Regional highlights from the INSIDE Public Accounting National Benchmarking Report:

NORTHEAST

4.7% – Organic Net Revenue Growth
5.6% – Organic Net Income Growth
11.9% – Professional Staff Turnover
$83,005 – Average Professional Staff Comp.

SOUTHEAST

5.9% – Organic Net Revenue Growth
5.2% – Organic Net Income Growth
11.4% – Professional Staff Turnover
$77,991 – Average Professional Staff Comp.

GREAT LAKES

5.3% – Organic Net Revenue Growth
7.9% – Organic Net Income Growth
11.5% – Professional Staff Turnover
$74,487 – Average Professional Staff Comp.

GREAT PLAINS

5.0% – Organic Net Revenue Growth
2.3% – Organic Net Income Growth
13.1% – Professional Staff Turnover
$74.625 – Average Professional Staff Comp.

WEST

5.4% – Organic Net Revenue Growth
4.7% – Organic Net Income Growth
14.2% – Professional Staff Turnover
$83,362 – Average Professional Staff Comp.

 

 

 

 

For additional insight into the results of the 2017 IPA National Benchmarking Report, access a complimentary copy of the executive summary.

INSIDE Public Accounting Unveils 2017 Best of the Best Accounting Firms

Continuing the tradition of more than 20 years, INSIDE Public Accounting (IPA) has unveiled the 2017 list of the Best of the Best public accounting firms in the nation. This group, the highest performers within the profession, are ranked on more than 70 metrics. The 2017 Best of the Best firms produce superior financial results while planning for long-term, sustainable growth.

In 2017, 587 firms were eligible for this accolade by participating in IPA’s 27th Annual Survey and Analysis of Firms.

The IPA Best of the Best firms are scattered across the U.S. and Canada and come in all sizes – from 27 employees to 2,615. Two-thirds of the Best of the Best firms appeared on the list in 2016, demonstrating an impressive commitment to excellence and sustainability.

IPA has also named 10 firms under $5 million in net revenue for the Best of the Best Under $5 Million. Unlike their large-firm counterparts, these firms earned this distinction with fewer resources to deliver top-notch client service, sought-after benefits and professional development across the firm – hallmarks of the Best of the Best.

As part of IPA’s ongoing commitment to identify and recognize high-performing firms across North America, IPA also highlighted the five Best of the Best Canadian firms. These firms, ranging in size from $6 million to $28 million, represent the top 20% of the highest performing Canadian firms that participated in the 2017 IPA Survey and Analysis of Firms.

“Best of the Best firms excel by achieving the delicate balance of focus on culture, clients, team and financial results,” says Michael Platt, principal of the Platt Group and publisher of the accounting trade publication, INSIDE Public Accounting. “Best of the Best firms are judged on dozens of metrics that truly take a holistic view of success. Their strategic focus on all areas that make accounting firms great have produced the results that merit this sought-after accolade.”

Kelly Platt, publisher of INSIDE Public Accounting, says firm leaders who are looking to improve can look to the results produced by the IPA Best of the Best. “Best of the Best firms show that discipline, planning and a systematic approach to improvement can result in measurable progress toward their goals. In a rapidly changing business environment, Best of the Best firms thrive.”

A full list of the 2017 IPA Best of the Best firms, including the Under $5 Million category and Best of the Best in Canada can be found on the INSIDE Public Accounting website.

IPA also ranks the largest accounting firms in the nation annually, the IPA 100, along with the IPA 200 and IPA 300, those firms ranking from No. 101 to No. 300 in the U.S. Visit the INSIDE Public Accounting website for more details.

You may order complete copies of the IPA Best of the Best, IPA 100, IPA 200 and IPA 300 firm issues: (317) 733-1920; editor@plattgroupllc.com.

2017 INSIDE Public Accounting Benchmarking Report Pre-Publication Offer

The 2017 Benchmarking Tools will be available in September.

IPA’s National Benchmarking Report is one of the most thorough, complete and insightful analyses of CPA firms in the U.S. The report is well-respected throughout the profession for being independent and accurate.  Benchmarking is one of the most effective processed firms can do to improve operations, increase profitability and productivity.

ORDER BEFORE AUGUST 15 AND SAVE!

Note: some associations have partnered with IPA to provide some of the benchmarking products to member firms. Please contact our office with any questions.

The Internal Operational Benchmarking Reports

The Firm Administration, Human Resources and Information Technology reports assist firm management uncover trends, areas of policy improvement, operational and procedural issues and to assist firms with planning, budgeting and implementing needed changes to move ahead in best practice style. Click on any one of the images below to find out more, and to view an excerpt from 2016.

Information Technology Human Resources Firm Administration

ORDER BEFORE AUGUST 15 AND SAVE!

The Financial and Operational Report Card

Understand Your Performance Relative to Your Competitors

This customized report provides firms with exclusive benchmarks of how their firm compares, in more than 20 metrics to hundreds of other firms across the U.S. The report is broken out by Top, Middle and Bottom Quartiles, and provides a visual of your firm’s overall performance. The report enables you to determine which processes and procedures could benefit the most from improvement, and in which areas these improvements might yield results. Why spend hours sifting through financial records, survey data and a host of internal reports, when you can find the answer in a financial and operational report card specific to your firm?

ORDER BEFORE AUGUST 15 AND SAVE!