Armanino Welcomes New Partner to Lead CFO Advisory Services Practice

Nate Collins

Nate Collins

San Ramon, Calif.-based Armanino (FY15 net revenue of $164.2 million) has announced that Nate Collins has joined the firm as a consulting partner to lead the firm’s CFO advisory services practice, a team of experts in valuations, equity management and accounting, and financial management consulting.

Armanino’s CFO advisory services team has supported a variety of Silicon Valley’s hottest tech firms with services including financial management, transaction advisory, including mergers and acquisitions (M&A) and IPO preparation, equity management and valuation consulting services.

Collins joins Armanino after 12 years at BDO, most recently serving as the lead partner for BDO’s transaction advisory services practice for the Western United States. There he directed buy-side/sell-side due diligence and related negotiations for a wide variety of transactions. He has significant experience in both the domestic and multi-jurisdiction arenas, as well as supporting the M&A-related special project needs for strategic buyers, financial investors and acquisition targets.

Prior to joining BDO, Collins held positions at Deloitte, Aon Corporation and Leo Burnett Worldwide.

Huynh, Northrup Join Armanino as Tax Partners

Nghi Huynh

Nghi Huynh

San Ramon, Calif.-based Armanino (FY15 net revenue of $164 million) announces that the firm has admitted two professionals to the partnership: Nghi Huynh has joined the firm as a tax partner in its San Jose, Calif., office and Todd Northrup has joined as a tax partner in its Woodland Hills, Calif., office.

“We’re investing in adding depth and local resources to our already strong corporate tax offering. Nghi and Todd bring strong expertise and a record of leadership to our clients,” says MP Andy Armanino. “With their addition to the partnership, we’re better poised to service fast-growing private and public companies, many with complex international operations and provision needs.”

Todd Northrup

Todd Northrup

Huynh will manage the firm’s transfer pricing practice. She brings nearly two decades of transfer pricing tax expertise to the firm. Before joining Armanino, Nghi was a managing director at both PwC and KPMG. She will work with multinational enterprises to establish pricing strategies for cross-border transactions and addresses complex issues that arise when operations expand to multiple tax jurisdictions such as tangible and intangible assets, as well as intellectual property.

Northrup will support the firm’s tax provision practice in Southern California. He brings 20 years of experience with tax provision and compliance, including 13 years at both KPMG and Ernst & Young. He specializes in servicing a wide variety of public and private companies, both entrepreneur-owned and investor-backed organizations, in the technology, entertainment, manufacturing and distribution sectors.

Bernstein Business Management Group Joins Armanino

San Ramon, Calif.-based Armanino (FY15 net revenue of $164 million) has announced that Bernstein Business Management Group of Woodland Hills, Calif., is joining Armanino on March 1.

The group will operate as Armanino and will join the firm’s existing business management department. Both firms offer core business management services, including cash management and financial planning, banking, insurance coordination, bookkeeping, payroll, and tax planning and preparation for high-net-worth individuals and the entertainment industry.

“Bernstein Business Management Group brings a wealth of experience working with high-net-worth individuals and professionals in the entertainment industry,” says Ken Coelho, PIC of business management at Armanino LLP. “The group’s talents, combined with Armanino’s deep technical know-how, will allow us to further deliver hands-on, personal service to our clients.”

Bernstein Business Management Group complements Armanino’s entertainment expertise and expands its business management practice into the San Fernando Valley. It will also expand Armanino’s network of trusted services providers, such as agents, attorneys and personal managers, with whom Armanino cooperates to manage all of its clients’ financial affairs. As a full-service accounting and consulting firm, Armanino brings additional audit, international tax, high-tech and deep consulting offerings to Bernstein Business Management Group’s clients.

Bob Bernstein will join Armanino as a partner, and he and his team will relocate to Armanino’s office in Woodland Hills. Clients will continue to work with the same team they have known for many years.

This merger is one of several in the last few months. Armanino took on Lafayette, Calif.-based valuation experts, Financial Strategies Consulting Group and Travis Wolff of Dallas (FY15 net revenue of $20.8 million) on Jan. 1.

Armanino, ranked No. 25 on the IPA 100 list, has been listed on IPA’s Best of the Best Firms list for 14 of the last 15 years.

Lutz and McDermott & Miller Join Forces

The shareholders and directors of Lutz of Omaha, Neb., (FY16 net revenue of $32.6 million) have announced that selected offices of Grand Island, Neb.-based McDermott & Miller will be joining forces on May 1. The combined firm will retain the Lutz name.

McDermott & Miller offices located in Hastings, Grand Island and Omaha, along with their eight shareholders and over 40 personnel, will join the Lutz team. The joint entity will bring the total number of Lutz employees to more than 250.

Allan D. Koltin, CEO of Koltin Consulting Group, advised both firms. “Lutz is one of the ‘Best of the Best’ firms not just in Nebraska but the entire country. They are a local Nebraska firm, with a national reputation for value-added services to clients and an entrepreneurial culture,” he says. “McDermott & Miller was approached by numerous national firms wanting to expand into Nebraska but they felt the Lutz culture was similar to theirs. The opportunity also provided great growth potential for their talented partners and associates.”

MP Mark Duren says, “McDermott & Miller professionals will strengthen Lutz’s commitment to the agriculture industry as well as bring additional non-profit and tax resources.”

Andrew Janzen, shareholder of McDermott & Miller’s Hastings office, says, “Lutz offers a full range of business solutions that will benefit our clients and they will also provide best practices to our offices including service delivery efficiencies and cutting-edge consulting skills.”

Frazier & Deeter Joins PKF International

PKF International welcomes the signing of Atlanta-based Frazier & Deeter (FY15 net revenue of $66.9 million), an IPA 100 and Best of the Best firm, to re-join its global network of independent firms.

Frazier & Deeter, also a member of CPAmerica, has prior experience with the PKF network. The firm works with many multinational clients, and the alliance with PKF International will enable Frazier & Deeter to better support these clients, the association announced.

MP Seth McDaniel says, “We are committed to producing quality work by going the extra mile to achieve great results for our clients. Frazier & Deeter has grown significantly over the years, and by re-joining PKF we will be able to better serve our clients across the U.S. and internationally. Renewing our PKF relationship will also help to open doors for us.”

Frazier & Deeter has more than 300 professionals in five offices in Georgia, Florida, Tennessee and Pennsylvania. It delivers a range of tax, assurance, accounting and advisory services, and launched one of the largest CPA-based wealth management firms, SignatureFD, in 1998. It also introduced FD Fund Administration, a subsidiary firm that provides outsourced fund administration services, and FD Real Asset Advisors, a firm that assists with real estate and other project financing.

John Sim, CEO of PKF International, says, “As one of the fastest-growing, highly respected accounting firms in the U.S., they are just the type of firm we wanted as our Southeast regional anchor practice. Seth McDaniel, Sean Lager and Bill Godshall have made significant contributions to the PKF network over the years and we look forward to that continuing.”

PKF has 15 offices in the U.S. “This is a cornerstone in our quest to restructure our North American presence, which is an important part of our global strategy to strengthen our ability to provide solutions to countless clients of PKF members around the globe,” says Sebastian Wohldorf, chairman of PKF International.

The 2017 IPA Accounting Firm National Benchmarking Surveys Are Open For Participation

The 2017 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…

…June 2016 through December 2016: May 5, 2017
…January 2017 through February 2017: May 19, 2017
…March 2017 through April 2017: June 5, 2017

THE 2017 IPA SURVEY AND THE INTERNAL OPERATIONAL SURVEYS ARE AVAILABLE FOR COMPLETION.

Your firm must complete the IPA Survey and Analysis form in order to participate in any of the internal operational surveys. 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 surveys, you will receive a complimentary copy of the August 2017 issue of the award-winning INSIDE Pubic Accounting newsletter. This issue highlights the annual IPA 100 firm rankings, along with a detailed financial and operational analysis of the rankings.
  • An electronic complimentary copy of the 2017 Executive Summary, of the IPA National Benchmarking Report. If you participate in any or all of the IO surveys, you will also receive a complimentary executive summary when published in late summer.
  • You will receive preferred pricing on the 2017 IPA National Benchmarking Report, the IO 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).
  • If you would like to participate, please contact our office.

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 27 years 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: The Alliott Group, CPAmerica International, DFK International, INPACT Americas, LEA Global, Moore Stephens North America and PrimeGlobal. Please contact The Platt Group / IPA with any questions at (317) 733-1920.

Grassi & Co. Acquires Bernstein and Seidman

New York-based Grassi & Co. (FY16 net revenue of $53 million) has acquired Bernstein & Seidman of Scarsdale, N.Y.

Robert Bernstein, who brings decades of experience, will join Grassi & Co. as a partner. Over the past 30 years, the firm has accrued over 250 clients in various industries including retail sales, import/export, food, pharmaceuticals, real estate, and notably, the automotive industry.

“As the automotive industry faces never-ending challenges on standards of leasing and revenue recognition, we look forward to partnering with a firm like Bernstein and Seidman, whose commitment to those in the automotive industry is unparalleled,” says Louis Grassi, Grassi & Co. MP and CEO. “Merging Bernstein into our company allows us to grow our accounting services practice and expand our geographical footprint.”

Bernstein says, “We pride ourselves on our hands-on approach with clients and ensure that when we are engaged on a transaction, our client’s business needs are structured to take advantage of the various tax incentives available. Partnering with a firm like Grassi & Co. will aid us in being able to offer our clients the products and services needed to help them grow their business and compete in today’s changing landscape.

New MP for Tampa Office at Frazier & Deeter

Mike Hendricks

Mike Hendricks

Atlanta-based Frazier & Deeter (FY15 net revenue of $66.9 million) announced that tax partner Mike Hendricks has been named the new MP for the Tampa office of the firm.

Hendricks joined the Tampa office in 2014 while also serving as the co-chair of Frazier & Deeter’s national tax practice.

“We are delighted to have Mike lead the Tampa team into its next stage of growth as our business across Florida expands,” says Seth McDaniel, MP. “Mike’s strong leadership skills and tax expertise will make him an asset to our team, our clients and the business community in this new role.”

Hendricks says, “The Tampa/St. Petersburg region has a vibrant business community and our firm plans to be an active contributor.”

Hendricks’ responsibilities include providing comprehensive tax advisory services, as well as federal, state and local tax compliance services to individual and business clients. His industry expertise is concentrated in the areas of manufacturing, retail, distribution, construction and technology.

Armanino Admits Five Partners

Michael Boulton

Michael Boulton

San Ramon, Calif.-based Armanino (FY15 net revenue of $164.2 million) announced that Michael Boulton, Stacie Kowalczyk, Tony Lam, Min Riblett and Sergio Salas have been admitted as partners.

New partners include professionals in tax, audit and consulting services in five offices across California. Each has demonstrated exceptional client service and leadership, and many have served on the firm’s management advisory board or women’s advancement network. With women making up 40% of internal partners this year, the firm is making progress toward the network’s goal of elevating women to leadership positions.

Stacie Kowalczyk

Stacie Kowalczyk

“We have an exceptional group of public accounting pros joining the partnership this year. Over the years they have each contributed greatly to the success of the firm,” says MP Andy Armanino.

Michael Boulton, audit partner, is based in the firm’s San Jose office and has more than 10 years of experience in public accounting. He specializes in financial statement audits of nonprofit organizations and private and publicly held middle-market businesses.

Tony Lam

Tony Lam

Stacie Kowalczyk, audit partner, works in the firm’s San Francisco office and has more than 12 years of experience providing audits, reviews and other attestation services to for-profit entities in the retail, consumer products, smart grid technology and professional services industries. She also has extensive experience providing audit services to nonprofit organizations who receive federal funding needing a single audit.

Tony Lam, tax partner, works in the firm’s San Ramon office where he assists closely held businesses on tax consulting and compliance. With more than 15 years of experience, he leads the firm’s tax training program.

Min Riblett

Min Riblett

Min Riblett, tax partner, works in San Ramon and has more than 10 years of experience with a specialty in tax planning, consulting and compliance for closely held businesses and high-net-worth individuals and families. She is fluent in Mandarin and Cantonese, and is a founding member of the firm’s women’s advancement network.

Sergio Salas

Sergio Salas

Sergio Salas, tax partner, is based in the firm’s Los Angeles office and has more than 17 years of experience. Sergio specializes in the real estate industry, advising clients on their personal taxes, as well as real estate transaction and deal structures. He also has extensive experience in partnership taxation.

Withum’s Latest Video Aims to Bust Stereotypes

Princeton, N.J.-based WithumSmith+Brown (FY16 net revenue of $147.1 million) has produced its annual ‘State of the Firm’ video, and this one takes aim at accountants’ reputation as being boring bean counters.

As the firm says, “Withum is not your parents’ public accounting firm. Not even close.”

MP and CEO Bill Hagaman says, “We unveiled a video showcasing how Withum and its more than 800 employees are shattering industry stereotypes – as number crunchers, journal jugglers and pencil pushers – that have plagued our profession for decades. At Withum, we genuinely get excited about our work – we have passion and fun and look beyond the numbers on a piece of paper.”

An IPA Best of the Best firm, Withum is ranked No. 27 on the latest IPA 100 list.

According to Hagaman, Withum employees are financial artists, so to speak. “Our firm is a place where creativity, innovation and diverse thought processes are encouraged and expected. This is our strength and how we express our underlying values – the Withum Way – internally and to our clients.”

During Withum’s annual State of the Firm meeting, Hagaman also provided staff an overview of the firm’s strategic plan for organic and service-area growth. In addition, he offered a favorable forecast for accounting as a career.