Filomeno & Company PC, an eight-partner CPA firm based here, has expanded its financial planning practice with the merger of fee-only planning firm Thibodeau Financial Advisors LLC into its fold.
Firm founder Richard E. Thibodeau, CPA/PFS, JD, is now the director of Personal Financial Services at Filomeno & Co. In his new role, Thibodeau specializes in income tax, estate, investment and retirement planning.
"I was starting to get concerned about the amount of time I was spending to administer and manage my practice," said Thibodeau of the decision to merge his $500,000 practice into a CPA firm. "As a sole practitioner, I didn't have the infrastructure to support the growth of my business."
Succession planning was also a concern, said Thibodeau, who decided last year that he "couldn't go through another busy season like this," and began his search for a CPA firm that would be a good fit for his practice.
After doing his due diligence and narrowing his options from five firms to two, Thibodeau felt that Filomeno was the best fit. "I knew the firm, I had a sense of their reputation," and he liked the firm's size. Filomeno, which specializes in serving the manufacturing, medical, auto dealer, retail, not-for-profit, construction and funeral home industries, has a staff of 40. One month after the union, Thibodeau said he "couldn't be happier."
