SFP 73: What firms should know about succession and M&A

Small Firm Philosophy

Terrence Putney, CPA, managing director with Whitman Transition Advisors, is among the top advisers on accounting firm mergers nationwide. Over his 44-year career, Putney has been involved with hundreds of accounting firm M&A deals and also co-written more than 20 articles on succession-related issues for the Journal of Accountancy.

In this episode of Small Firm Philosophy, Putney addresses succession and related M&A issues including:

• Three trends besides succession that are driving accounting firm M&A
• Is the current firm M&A market favoring buyers or sellers?
• What small firm partners should be doing today so they can retire in a few years.
• What a two-stage deal is and why it’s well suited for solo practitioners and small firms.

Resources mentioned in the conversation:

• The JofA “Succession Series”.
• JofA article on “The Culture Test” in accounting firm mergers
• JofA article on “A two-stage solution to succession procrastination”.
• PCPS and Succession Institute 2020 Succession Planning Survey results, analysis and resources

Click on the link to contact Terry.

This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour. Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.