Marks Paneth Holds Ribbon Cutting For New Philadelphia Office

Pictured (l-r): Rebecca Rhynhart, Philadelphia City Controller; John E. Mitchell, Partner-in-Charge of Marks Paneth’s Pennsylvania offices; and Harry Moehringer, Managing Partner of Marks Paneth LLP.

New York-based Marks Paneth (FY18 net revenue of $136 million) celebrated the opening of the firm’s newest office location in Philadelphia with a ribbon-cutting ceremony and open house attended by clients, colleagues, city officials and other members of the Philadelphia business community.

Located in Philadelphia’s central business district, the new office is the firm’s ninth. It puts the firm in close proximity to the many law firms, businesses, individuals, business partners and associations it serves. The move is also expected to expand the firm’s presence in the mid-Atlantic area.

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UHY Advisors Announces Creation of UHY Advisors Alliance, First Member

Chicago-based UHY Advisors Inc. (FY17 net revenue of $140.8 million) has established the UHY Advisors Alliance and welcomed Grobstein Teeple LLP as its first member.

The UHY Alliance will allow member firms to use specialized services as well as add regional offices to better meet client needs. The alliance will provide UHY access to locations in the growing Orange County, Calif., market, among others. Grobstein Teeple has three offices in Southern California and one in Washington, D.C.

As an alliance member, Grobstein Teeple will receive the support of the national UHY network, including access to their industry specialists and national infrastructure, further enhanced by the global resources of UHY International.

Grobstein Teeple specializes in providing accounting and consulting services in a variety of areas, including insolvency, litigation, receiverships, family law, forensic accounting, fraud investigations, business management, fractional CFO and cybersecurity.

UHY COO Richard David says, “This alliance complements UHY’s already robust national presence with access to several offices in California and helps establish our position in a rapidly growing West Coast market. The alliance also offers Grobstein Teeple resources to our national network of 18 locations and as a portal to UHY International resources in nearly 100 countries.”

“Both firms have already seen the benefit of these additional resources and talents in meeting existing and prospective client needs,” says MP Howard Grobstein.

Leveraging the existing network built by Grobstein Teeple, UHY’s presence in California will expand beyond Orange County, creating a larger market for the firm’s West Coast office. As of June 13, the firms have aligned to work with clients in California on accounting services, business consulting and litigation support.

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Connecticut-based Firm Expands to Worcester, Mass.

West Hartford, Conn.-based blumshapiro (FY18 net revenue of $83.4 million) will expand its presence into central Massachusetts on Oct. 1, with a new office in the business district of Worcester.

The Worcester office will be able to house as many as 25 people initially. In total, the firm employs more than 450 people, and offers auditing, accounting, tax and business advisory and outsourcing services to a wide array of clients across numerous industries.

“The make-up of businesses in central Massachusetts is very closely aligned with blum’s areas of expertise,” says Brian Renstrom, MP of Massachusetts. “As an economic engine for central Massachusetts, Worcester will provide us with the ability to grow and service our clients locally while giving us the opportunity to attract local talent and become more meaningfully involved within the community.”

The firm already operates from three offices in Massachusetts, in Quincy, Boston and Newton; three in Connecticut, in Shelton, West Hartford and Marlborough; and one in Cranston, R.I.

BerryDunn Merges with Rodman CPAs

Portland, Maine-based BerryDunn (FY18 net revenue of $70.3 million) will merge with Rodman CPAs of Waltham, Mass., on July 1.

The combined firm will operate as BerryDunn. Rodman’s 40 employees will join BerryDunn’s staff of about 400.

“We decided to seek a merger with another firm because we believe that a larger organization will allow us to provide a wider array of services and more depth,” says partner Steven Rodman. “A larger organization will also mean our associates will benefit from additional career opportunities. We chose BerryDunn for the values we share of great client service and a commitment to attracting, developing and retaining the highest quality people.”

Rodman and four other Rodman partners will become BerryDunn principals: Kathy Parker, Bob Leonard, Mark Minassian and Leah Shanahan.

“This business combination fits perfectly with our strategic expansion, increasing our ability to serve the greater Boston market,” says BerryDunn MP John Chandler. “Most of BerryDunn’s growth has come organically from great client service and referrals. For a merger to be right for us, we look for a partner firm that adds value beyond numbers. We are excited by the new team members and capabilities that will perfectly complement ours. In addition to a healthy tax practice, Rodman brings a nationally recognized renewable energy expertise and a unique, concierge model of accounting outsourcing that will expand how we can serve our client base.”

Name Change for BKD Corporate Finance

BKD Corporate Finance is celebrating its 25-year milestone with a new name: BKD Capital Advisors, LLC.

BKD Capital Advisors (BKDCA) is the investment banking arm of Springfield, Mo.-based BKD (FY18 net revenue of $594.6 million).

BKDCA provides investment banking services to clients both internally and externally. In the last five years ,it has hired senior middle-market bankers, expanded from three to six offices and broadened its international reach.

After reviewing the breadth of services BKDCA currently provides, leadership decided it was crucial to include “advisors” in the new name to better communicate the broad range of investment banking advisory services. “Advisory is the most important aspect of the services we provide to our clients who, in a liquidity event, are potentially going through the most important transaction of their career,” says BKDCA President Tony Giordano.

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Skoda Minotti Launches New Practice Group for Startups

Cleveland-based Skoda Minotti (FY17 net revenue of $53.7 million) has launched its emerging companies group, which is designed to help early-stage companies with an array of accounting, tax, operational, governance and investor relations issues.

“Whether it’s transitioning an initial concept into a viable business entity, taking products and services from development to market or securing funding to fuel exponential growth, emerging companies need dedicated, caring partners who can help navigate the challenges and complexities of early stage operations and transform big ideas into vibrant businesses,” the firm announced.

“Our emerging companies group applies the same collaborative service methodologies and approaches we use with all our clients to help startup companies grow and succeed throughout the early stages of their journey,” says chairman Gregory J. Skoda.

The group, led by Marilea Campomizzi and Rich Mazzola, offers customizable service bundles to help clients achieve strategic growth based on where they currently reside in their business journey. Flexible billing approaches also available.

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BMF Launches Cyber Technology Group

Akron, Ohio-based Bober Markey Fedorovich (BMF) (FY18 net revenue of $19.1 million) has announced a new practice area, BMF Cyber Technology Group, which will offer high-level IT, network and cybersecurity solutions.

The firm, which is celebrating its 60th anniversary, says the new practice group is part of the evolution of its core financial and advisory service offerings. Now, the firm says, “we are better equipped to serve our clients with the skills, tools and resources they need to run an effective IT department while protecting their most critical component – their data.”

Chad Voller

Managing director of CTG, Chad Voller, notes that most IT professionals begin their careers on the help desk, and over time progress to become system administrators and then as department leaders, they’re asked to manage processes, people and budgets.

“They’re asked to do these things with no background or training in executive management,” he says. “No wonder so many IT executives feel overwhelmed, and so many business leaders are looking for more impact from their IT teams. Technology is a competitive lever for any organization, but no tech team can provide that level of insight to senior management when they’re stuck running through service tickets.”

Voller has experience in all three critical elements for improving IT performance and security: operational, management and executive coaching support, the firm says. Working in corporate IT positions and managing a global technology department for a publicly traded corporation, he supported three national and two international locations. He has earned several certifications and consults and speaks on IT operations management, disaster recovery, project and change management.

Voller joined the firm as its director of IT three years ago. He’ll manage both roles while growing his three-person team.

“I honestly think that with just a little sprinkling of success that this could be a really fantastic revenue opportunity for the firm going forward,” Voller told Crain’s Cleveland Business. “It is so relevant for every business out there that we could see this turning into one of the leading books of business within the landscape of the firm.”

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Canada’s MNP Acquires Technology Firm

Calgary, Alberta-based MNP has acquired Mantralogix, a technology firm that will merge with MNP on July 1.

Kerry Mann, president and CEO, and COO Jess Mann will be made new partners and bring a staff of 20 experts to MNP. Mantralogix is located in Mississauga, a suburb of Toronto.

Sean Murphy, MNP’s regional MP of consulting for eastern Canada, says, “Merging in Mantralogix, a full-service business management software solutions company and IT consulting firm, will allow us to build on our existing strengths and offer new solutions, particularly in the area of cloud and on-premise enterprise resource planning (ERP) solutions, in order to bring even greater value for our clients.”

According to the Canadian Accountant, the move is part of a trend of national accounting firms providing ERP software solutions and IT consulting. All Big 4 firms have partnerships with software businesses: PwC with SAP, Deloitte with Oracle and SAP, KMPG with Oracle, Microsoft and IBM, and EY with IBM, Microsoft and SAP.

MNP says Mantralogix’s partnership with the Acumatica and Sage enables them to build, support and maintain successful IT solutions.

“In this dynamic environment the needs of Canadian companies are always evolving, so we are constantly working with our clients to better understand how we can best support them,” says Jeremy Cole, executive vice president for MNP’s Ontario, Quebec and Atlantic region. “MNP has a strong presence serving diverse clients right across the country and we are committed to helping more businesses reach their full potential.”

Kerry Mann says the union will add more specialized services and a broader range of industry expertise and experiences to clients.

“We are always looking at new ways to help our clients achieve their goals. That starts with having the ability to look at a business from every angle to make sure we understand the challenges and opportunities they face and how we can truly help to bring value to the relationship,” says Mann. “This merger is a great example of how two firms can come together to enhance each other’s service offerings and give our clients the edge they need to stay competitive and grow for the future.”

The Mantralogix team plans to move into MNP’s Mississauga office in the future. MNP has more than 4,500 employees in more than 75 locations.

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Warmels & Comstock and Layton & Richardson Join Clark Schaefer Hackett

Warmels & Comstock and Layton & Richardson of East Lansing, Mich., have agreed to merge with Cincinnati-based Clark Schaefer Hackett (FY18 net revenue of $64.8 million), effective July 1.

“We are excited to have Warmels & Comstock and Layton & Richardson join CSH. Both firms have established practices that exemplify CSH’s mission of bettering the lives of our clients, people and communities. We are looking forward to expanding our reach in Michigan,” says CSH President Kerry Roe.

Warmels & Comstock and Layton & Richardson have served the Greater Lansing community for more than 50 years. As part of CSH, they will continue to provide accounting and tax solutions to businesses and individuals and dramatically expand their business advisory services to include Data Analytics, Strategic HR, Operational Process Improvement, Technology and more.

“Our firm culture of putting the client first, working hard, and acting with integrity is a perfect match for the culture at CSH. We look forward to a smooth transition that will enhance our service offerings and provide additional growth opportunities for our staff,” says Dan Warmels, co-founder of Warmels & Comstock.

CSH continues to grow through strategic acquisitions. Over the last few years, CSH has acquired CPA and advisory firms including Cincinnati-based JD Cloud and Toledo-based LublinSussman Group. In October 2018, CSH acquired Cincinnati-based Definity Partners, a leading workforce development, training and technology firm.

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MOVE Project Lists Best Public Accounting Firms for Women, Equity Leadership

The Accounting & Financial Women’s Alliance, which sponsors the Accounting MOVE Project, announces its annual survey of leading financial and accounting firms for women.

The 2019 Accounting MOVE Report delves into the perceptions and misperceptions that women and firms have about how and why women pursue partnership and other senior leadership positions. The report also outlines tactics that women, advocates for women and firm leaders can take to ensure that all women CPAs can fully achieve their aspirations for their careers and drive firm growth in the process.

Highlights from the 2019 MOVE Report

  • Peer Power: Women’s peer networks are horizontal and tend to be powerful retention factors. By comparison, men’s peer networks tend to be vertical and transactional. Leading MOVE firms shape women’s initiatives to make the most of how women organically cultivate networks.
  • Piecing the Future: Women plot their expectations based on what they observe and experience. Firms that show women the benefits of partnership and that build confidence and results with early business development seed ambition for partnership.
  • Intervention Builds Retention: Women don’t want to choose between coasting and quitting. Firms strengthen retention by cultivating multiple paths to senior positions, and by working with women before they reach the point of no return.

2019 Accounting MOVE Project Best CPA Firms for Women:

  • Pittsford, N.Y.-based The Bonadio Group (FY18 net revenue of $97.9 million)
  • San Francisco-based BPM LLP (FY18 net revenue of $99.5 million)
  • Creve Coeur, Mo.-based Brown Smith Wallace (FY18 net revenue of $50 million)
  • Clark Nuber (FY17 net revenue of $38.6 million) of Bellevue, Wash.
  • New York-based CohnReznick LLP (FY18 net revenue of $623.7 million)
  • Fargo, N.D.-based Eide Bailly (FY18 net revenue of $299.2 million)
  • Greenville, S.C.-based Elliott Davis (FY19 net revenue of $126.3 million)
  • Lurie LLP (FY17 net revenue of $28 million) of Minneapolis
  • Louisville, Ky.-based MCM CPAs & Advisors (FY18 net revenue of $56.8 million)
  • Seattle-based Moss Adams (FY18 net revenue of $691 million)
  • San Francisco-based Novogradac & Co. (FY18 net revenue of $147.4 million)
  • San Francisco-based OUM & Co. (FY18 net revenue of $19.9 million)
  • Southfield, Mich.-based Plante Moran (FY18 net revenue of $542.1 million)
  • Troy, Mich.-based Rehmann (FY18 net revenue of $143 million)

2019 Accounting MOVE Project Best CPA Firms for Equity Leadership
The Best CPA Firms for Equity Leadership list recognizes firms with at least 33% women partners and principals, as 33% is widely recognized as the tipping point for members of any identity group to have individual impact.

In descending order of percentage of women partners and principals; firms also on the Best CPA Firms for Women indicated with an *.

  • Powell, Ohio-based Kaiser Consulting – 100%
  • Sarasota, Fla.-based Kerkering Barberio & Co. (FY18 net revenue of $16.5 million) – 60%
  • Alexandria, Va.-based KWC CPAs (FY18 net revenue of $14.4 million)
  • RoseRyan of Newark, Calif. – 60%
  • Abbott Stringham & Lynch (FY17 net revenue of $21.8 million) of San Jose, Calif.– 50%
  • Clark Nuber – 50% *
  • Gainesville, Fla.-based James Moore & Co. (FY18 net revenue of $22.3 million) – 50%
  • Bethesda, Md.-based Councilor Buchanan & Mitchell – 47.1%
  • Eugene, Ore.-based Jones & Roth (FY18 net revenue of $15.4 million) – 46.2%
  • Lincoln, Neb.-based HBE – 45.5%
  • San Jose, Calif.-based Johanson & Yau – 42.9%
  • Novogradac – 40.4% *
  • The Bonadio Group – 39% *
  • San Francisco-based Hood & Strong LLP (FY18 net revenue of $16.5 million) – 37.7%
  • MCM CPAs and Advisors – 37.3% *
  • Tucson, Ariz.-based BeachFleischman (FY18 net revenue of $27.9 million) – 37.5%
  • Brown Smith Wallace, St. Louis – 36.6% *
  • Atlanta-based Frazier & Deeter (FY17 net revenue of $83.6 million) – 35.4%
  • Lurie LLP – 33% *
  • OUM & Co. – 33% *

Read the 2018 list.