The MP Elite: Vision statements

August 8, 2023 9:01 AM

A clear, intentional vision is not only the mark of a good leader, it's what today's highly in-demand accounting workforce are seeking in their firm leadership. We asked a collection of exceptional accounting firm chiefs, who make up the Accounting Today 2023 MP Elite, about their specific outlooks for the next five to 10 years.

Common among the responses were robust strategic plans, and ambitious goals and growth milestones, demonstrating the MP Elite's exceptional guidance through a time of immense change in the accounting profession.

Matt Armanino / Armanino

I have long advocated (with great buy-in) the need for our firm to be prepared for a world that is more volatile and moves at an increasingly quick pace. Looking forward, I already see we have put in place the foundation for the next decade where we will embrace technology like AI to help solve necessary but repetitive tasks with greater efficiency. Instead of being a threat to the accounting profession, we will embrace it as an opportunity to put our people in a position to shine as strategists and deep industry experts.

By deploying best-in-breed technology internally and for our clients, we can focus on big initiatives like shaping or responding to new tax and regulatory rules for emerging industries like artificial intelligence and technology. This also ensures greater opportunities for our people as we grow and expand, both geographically and in terms of the services we offer.

We will continue to invest in the work to remain a Certified B Corporation, among the firms leading the way in our industry to balance purpose and profit in meaningful, tangible ways. And we will help clients who are interested in achieving ESG goals meet their objectives as more regulatory bodies and investment funds value corporate citizenship. I'm proud of the action we've taken on both fronts and the work that's been done to help advance our own sustainability and social progress efforts, but I recognize there's always room for us to grow in this regard and continue to improve.

Kyle Bryant / Market Street Partners

We don't have formal 5- to 10-year vision plans because we try to stay in tune with the market and with our clients. We have blown past the informal plans we made as part of our launch process mainly because we have been flexible and taken advantage of opportunities that came our way. Our vision is to keep our eyes and minds open to opportunities as they arrive.

We will always strive to build a collaborative culture and to put our clients and team members' needs as the top priority. We feel that is the key to continued success. I do see opportunities in the accounting profession that we hope to capture. Driving efficiency through technology and process is the path forward for us. We don't have specific employee count or revenue goals — we have projections and ideas around where we will be but have learned to hold those loosely while doing the things we know to do.

Lee Cohen / LMC

Being the best place to work and best place for our clients to be serviced. Continued growth and being able to make a difference in the accounting world as well as to continue giving back to our communities.

Suzanne Forbes / James Moore & Co.

I see a continued increase in the diversity of our workforce and maintenance of our low employee turnover rate (we currently average about 12%, which is low compared to most CPA firms). We're in the business of training and developing our people, which is just as critical as serving clients.

I also envision expanded advisory services as we continue our move to advisory. We already have divisions that address human resources, data analytics, technology, and wealth management needs. I also see industry service team members with a variety of backgrounds, such as operations, finance, etc. They won't just be solely focused on compliance/accounting work but on the entire scope of client needs. As our workforce grows, so will the variety and robustness of services we offer.

I see all of this leading to a transformation of our client base to focus on larger clients with more complex needs. While this has already begun, these factors facilitate it even more.

John Lauseng / Aldrich Advisors

Aldrich is a growth-minded firm with an innovative and entrepreneurial spirit, built for speed. Honoring our mission and our people as our number one priority, Aldrich is committed to protecting our precious culture. In order to deliver our exceptional services to a larger market, Aldrich is prepared to double every five years and expand our reach as a regional Western U.S. firm. We are driven to provide opportunities to develop the whole person and ensure employees can bring their authentic selves to our shared mission. We support individuals' pursuit of wild success in life and work, and their ability to impact their colleagues, client, and communities. Pairing our deep expertise with valuable and innovative solutions, we serve our clients through all phases of the business life cycle.

Steven McCarty / UHY Advisors

UHY is committed to its strategic plan as well as its current structure and growth trajectory. We are trailblazers who bring our experience from working within numerous industries to our clients so that we can provide them a 360-degree view of their businesses. Together with our clients, we work collaboratively to develop flexible, innovative solutions that meet our clients' business challenges.

UHY will continue to expand in our current markets as well as enter new markets over the next 10 years. We are focused on joining together with firms that share our entrepreneurial spirit, and dedication to delivering The Next Level of Service and want to provide a deeper bench and more technical expertise so that we can grow alongside our clients.

Jeffery Mowery / Mowery & Schoenfeld

Our goal is to be a Top 100 Firm within the next five years. We plan to transition to the next generation of partners, creating a second-generation Firm and solidifying our ability to continue on as the founders transition into retirement and remain a home for our employees and clients long into the future.

We have already branched out into offering our clients managed IT services through our wholly-owned subsidiary, Xamin, and are exploring other service expansions. We have built our wealth management practice to the top 150 of accounting firms wealth management practices from the ground up and we never stop listening to the needs of our clients to drive our growth. We have recently expanded our International Tax Services line with a focus on serving Latin American clients investing in the United States, and more broadly global investment in the United States as well as supporting our existent clients' outbound investments.

Charles Weinstein / Eisner Advisory Group

EisnerAmper will continue to stretch the traditional model of an accounting firm. Our partners and colleagues will enhance their position as clients' most trusted business advisor by providing financial and business services/solutions to individuals, families and businesses so that they can reach their financial goals. We will attract talent with traditional and non-traditional accounting and business backgrounds and continue to have a culture that embraces diversity and innovation. Our brand will represent quality, custom solutions and caring people.