North Carolina Firm Adds Partners to Tax Practice

Drew Haddock

Greensboro, N.C.-based DMJ & Co. (FY18 net revenue of $13.4 million) announces that Drew Haddock and Keith Jarmusch have been admitted as partners.

Keith Jarmusch

Haddock, based in the Sanford, N.C., office, handles tax planning and compliance for corporations, partnerships and individuals, especially closely held businesses within the dealership, manufacturing, distribution and real estate industries.

Jarmusch, based in Greensboro, has been with the firm since 2007 and has over 30 years of experience in both industry and public accounting. He works directly with both corporate and individual clients on their tax consulting, compliance and preparation needs as well as small business consulting and QuickBooks assistance.

More news from DMJ & Co.

Apple Growth Partners Creates New Leadership Role

Jeff Stinson

Akron, Ohio-based Apple Growth Partners (FY18 net revenue of $17.1 million) has announced a newly created leadership role in response to the firm’s rapid growth over the past three years. Jeff Stinson will join the firm as the director of strategic core services.

Apple Growth Partners’ growth has come about as a result of two consecutive mergers and opening a new office in Canton, Ohio, as well as its marketing efforts and technology investments, the firm announced.

Recognizing that accelerated growth can put pressure on internal processes if not adequately managed, the executive committee developed a role solely dedicated to advancing the firm’s strategic plan through comprehensive management and processes.

Stinson, a chartered financial analyst, brings a wealth of experience to the recently established position. For 12 years, Stinson served as the founder of the investment research firm, the Cleveland Research Company, and as COO from 2015 to 2018.

The new role of director of strategic core services will work closely with the department leaders for the firm’s tax, audit and business valuation teams to lead client services professionals in executing, delivering and growing client offerings. Stinson will join the firm’s executive committee.

“Our firm’s sights are set on continuing our growth trajectory, specifically becoming a $100 million revenue/Top 50 USA firm within the next decade,” states chairman Chuck Mullen. “To do so without straining our employees and existing processes, Jeff’s expertise will help align our inner workflows to accommodate expansion.”

More news from Apple Growth Partners

Association Affiliation Among the 2019 IPA 400 Firms

INSIDE Public Accounting thanks the member firms from 37 international accounting associations that have participated in our annual survey. Their data helps provide a clear picture of the state of the profession today. A special thank you goes to the following associations that partner with IPA to survey their members: CPAmerica, DFK, INPACT, LEA, Moore NA, PKF North America and PrimeGlobal. We are grateful for your support.

AssociationIPA 100IPA 200IPA 300IPA 400
Abacus Worldwide
1
AGN International
153
Allinial Global
41151
Alliott Group
21
Andersen Global
1
Baker Tilly International
7
BDO Alliance USA
8221814
BKR International
241
CPA Associates International
111
CPAmerica International
351232
Crowe Horwath International
12
DFK International
3467
Enterprise Worldwide
11
Geneva Group International
221
Grant Thornton International
1
HLB International
4211
IAPA International
11
INAA
1
INPACT Global
14
Integra International
1
JHI
1
Kreston International
1
LEA Global
151492
Mazars Group
1
MGI International
11
Moore NA
8442
Morison KSi
22
MSI Global Alliance
22
Nexia International
411
PKF International
331
Praxity
7
PrimeGlobal
971613
RSM US Alliance
7482
Russell Bedford
1
TIAG
31
UHY International
1
XLNC
1
No Association Affiliation
971014

KatzAbosch Announces Expanded Medical Consulting Services

Maureen McCarthy

Timonium, Md.-based KatzAbosch (FY18 net revenue of $16.9 million) announces that Maureen McCarthy and her health care consulting firm, Medical Business Advisors, have joined the firm’s medical practice service group.

The addition of Medical Business Advisors brings a new set of health care consulting services to the firm’s medical practice clients. McCarthy has specialized in health care consulting and practice management issues for all types of health care providers/entities. She brings a wealth of knowledge about physician practice management issues, including such expanded areas as:

  • Managed care contract analysis and negotiation
  • Practice revenues consulting
  • Revenue cycle management
  • Assessing and streamlining procedures
  • Medical record chart auditing and training
  • Practice and billing department reviews

KatzAbosch and Medical Business Advisors have worked together on several previous engagements over the years.

Mark Cissell, KatzAbosch president and CEO, says, “Maureen McCarthy is an industry specialist who brings a unique, human-centered leadership approach to our medical practice service group, which will further unlock the potential of our clients’ people and business.”

More news from KatzAbosch

DMJ Announces Acquisition of Miller & Company

Gregory Miller

Greensboro, N.C.-based DMJ & Co. (FY18 net revenue of $13.4 million) announced that Wilmington, N.C.-based Miller & Company will join forces Nov. 1.

Miller & Company has been a staple in the Wilmington region since 1993 serving the accounting needs of small businesses and individuals. By joining with DMJ, the Wilmington office will continue to serve clients in the coastal Cape Fear area with the added resources of a larger firm.

Miller & Company stockholders Sandra Miller and Rebecca Rhodes will continue with the combined firm, and Gregory Miller will become the DMJ PIC of the Wilmington office. All CPA and staff positions will remain. The combined firm will now employ more than 85 people, including 11 partners.

“When your name is on the door, as it has been for the past 25-plus years, you take seriously your commitment to your clients and to the CPA profession,” says Gregory Miller. “We may change our name, but we will not change how we serve our clients and treat our business partners. DMJ is a client-centered firm that shares our values, our commitment to quality, and our promise to our community.”

Mike Gillis

The expansion now means a DMJ presence in southeastern North Carolina and the firm’s fourth office in the state, in addition to Greensboro, Durham and Sanford. In addition, this merger brings new services to the region with DMJ’s experience in health care consulting and wealth management through DMJ Wealth Advisors. Together, the firms will continue to provide the traditional services with deeper practice areas in international tax consulting, litigation support, succession planning, audit and reviews, among others.

DMJ MP Mike Gillis says, “As we celebrate our 70th anniversary this year, we also remember to look to the future and focus on DMJ’s vision ahead. We recognize the importance of strategic growth that anticipates our clients’ needs, often times from formation to succession and through very personal milestones.”

Miller & Company has a long-standing relationship with DMJ that spans more than 20 years.  As a member of CPA Connect since 1998, DMJ was Miller & Company’s sponsoring CPAmerica firm.

Thomas Howell Ferguson Acquires Dowdy & Whittaker

Tallahassee, Fla.-based Thomas Howell Ferguson (FY18 net revenue of $19 million) has acquired Dowdy & Whittaker CPAs of Bainbridge, Ga.

Dowdy & Whittaker CPAs, owned by John Dowdy and Charles Whittaker, for more than 30 years has been providing tax and accounting services, primarily tax preparation, accounting and consulting services. By joining with THF, the firm will be able to offer tax services, audit and assurance services, business consulting, merger and acquisition expertise, and disaster and emergency management services to the Bainbridge community and southwest Georgia, the firms announced.

Dowdy and Whittaker will stay involved with the firm while Dennis Gallant from the THF Tallahassee office will take on the role of the Bainbridge market leader. All Dowdy & Whittaker team members will remain with THF, continuing to serve clients from the Bainbridge office.

HMWC Conquers Big Sur Hike, Its 41st Team-Building Event

Professionals, friends and clients of Tustin, Calif.-based HMWC CPAs & Business Advisors (FY19 net revenue of $17.9 million) have covered 15 miles of hikes in the Big Sur area of the central California coast, marking the firm’s 41st annual team-building hiking trip.

The hike, which was held over several days and included participants aged 5 to 76, is part of an effort to create a work environment that fosters “trust, initiative, loyalty, work/life balance, and mutual employer/employee success,” the firm says.

The annual “Death March,” so-named because of the physical challenges, was started in 1979 by then-MP Gerry Herter, who has attended all 41 outings. According to Herter, the event is rigorous but fun. “With the intense demands placed on members of the accounting profession nowadays, the Death March provides an enjoyable opportunity for team-building amidst some of the most spectacular scenery North America has to offer,” says Herter, who wrote a book about the tradition: Ledgers to Ledges, Four Decades of Teambuilding Adventures in America’s West.

Previous Death March events have been held in national park around the West: Yellowstone, Grand Teton, Grand Canyon, Glacier, High Sierra, Yosemite, Sequoia, Channel Islands and Crater Lake. Hikes have also covered portions of Kauai in Hawaii, Rogue River-Siskiyou National Forest in Oregon and California, and Banff National Park in Alberta, Canada.

More news from HMWC

INSIDE Public Accounting Releases Annual Ranking of the Top 400 Accounting Firms

The publishers of INSIDE Public Accounting (IPA), the award-winning newsletter for the public accounting profession, today released the annual ranking of the nation’s 400 largest public accounting firms.

Rankings of The IPA 100…Now in its 29th year, the IPA 100 lists the 100 largest public accounting firms in the U.S., by net revenue. The IPA 100 is made up of the Big 4, which collectively generated over $60 billion in U.S. revenue last year, and 96 national, regional and local firms. The annual rankings and accompanying analysis paint a comprehensive picture of the state of the profession.

Newcomers to The IPA 100…Three firms debuted on the IPA 100 in 2019: No. 91 Tulsa, Okla.-based HoganTaylor LLP; No. 98 Houston-based Briggs & Veselka Co.; and No. 99 Clifton, N.J.-based Sax LLP.

The 2019 IPA 400 Firms…IPA also ranks the next tier of accounting firms, Nos. 101-400.

The 2019 IPA 400 rankings can be accessed here.

Highlights of the 2019 IPA 100 Public Accounting Firms…The Big 4, Deloitte, PwC, EY and KPMG collectively make up nearly 75% of the total U.S. revenue of this year’s IPA 100. Due to their size, IPA excludes metrics of the Big 4 in its analysis. The remaining 96 firms represent $22.2 billion in total revenues and employ more than 100,000 staff. Excluding the Big 4, 45 firms are represented in the IPA $100 Million Club, all with annual revenues exceeding $100 million.

  • Organic growth (excluding mergers) grew this year to 6.7%, up from 6.3% in 2018.
  • More than 110 acquisitions (both traditional CPA firms as well as other non-CPA firms) were reported, pushing the overall growth rate to 9.9%, also up slightly from the 2018 all-growth rate of 9.4%.
  • Organic growth in net income grew to 9.9% this year, an increase from 6.4% in 2018. Factoring in acquisitions, net income growth is up to 12.2%.
  • Average equity partner billing rates now top $450 per hour for the IPA 100.
  • Professional staff turnover (CPAs and other client-serving staff) averaged 16.2% for the IPA 100; with 1 in 5 IPA 100 firms averaging more than 20% professional staff turnover.
  • Eight female managing partners are now at the helm of the IPA 100 firms for the first time since IPA began tracking this data.
  • Average annual equity partner compensation at the IPA 100 is now $660,000.
  • One out of 11 equity partners / owners in a CPA firm are not licensed CPAs.

“As firms continue to expand service lines and seek to hire the most qualified staff to serve clients in many non-traditional services, we’re seeing more non-CPA professionals in the ranks of the IPA 100,” says Mike Platt, principal with INSIDE Public Accounting. “In fact, we discovered that 28% of all client-serving professionals at IPA 100 firms indicated they have no intentions of pursuing a CPA license.”

In-Depth Financial and Operational Benchmarking of the Accounting Profession…Financial and operational analysis of 550 public accounting firms will be published in late September in the 2019 INSIDE Public Accounting National Benchmarking Report.

Subscribe to the IPA newsletter to receive the upcoming benchmarking analyses and in-depth interviews with key leaders within the profession. IPA offers a complimentary news source, the IPA INSIDER E-News Update. Sign up online.

Purchase any of the 2019 IPA benchmarking products, including the IPA National Benchmarking Report, to gain insider strategies.

To interview or engage the partners at INSIDE Public Accounting, please contact Chelsea Summers at (317) 733-1920 or csummers@plattgroupllc.com.

DWC Announces New COO

Vicki Goetter

Grand Junction, Colo.-based Dalby Wendland & Co. (FY18 net revenue of $13.0 million) announces that Vicki L. Goetter has joined the firm as its new chief operating officer.

Goetter has 20 years in the public accounting and consulting industry, specifically in the New York/New Jersey metropolitan area. In addition, she has 10 years’ experience in private business in the U.S. and U.K.

“She has been able to assist in increasing overall firm morale and employee retention, improvement of firm workflow in tax, redefining processes and procedures across firm lines to increase firm profitability, and project leadership through effective planning and communication in desired areas such as human resources, marketing and technology,” the firm announced.

More news from Dalby Wendland & Co.

DMJ Announces Professional Promotions

Greensboro, N.C.-based DMJ & Co. (FY18 net revenue of $13.3 million) announces several promotions in its headquarters office.

Alicia Williams has been promoted to chief human resources officer. She joined DMJ in 2011 as a human resources administrator. She specializes in talent management, customer service, deferred compensation, employee benefit design and new hire orientations.

Caren Rodriguez has been promoted to chief marketing officer. She joined DMJ in 2006 as a director of marketing. She manages firm-wide marketing and business development initiatives that span three office locations across North Carolina. Her responsibilities include communications, public relations, brand development, strategic and industry partnerships, marketing strategy and digital media efforts.

Shirley Weigel, a partner, has been promoted to chief operating officer. She joined DMJ in 1990. She has worked in the accounting and auditing department and was admitted to the partnership in January 2011. She is responsible for planning and supervising engagements of various businesses in the areas of distribution, non-profit organizations, manufacturing, professional services and construction.