We’re delighted to share this podcast interview with our Managing Director, Terry Putney, on the Journal of Accountancy Podcast.
CPA firm partners looking to retire in the next few years need to make sure they have a succession plan in place as soon as possible.
That’s one of the messages shared in the latest episode of the Journal of Accountancy podcast, produced in partnership with the AICPA Private Companies Practice Section’s Small Firm Philosophy podcast.
Listen in as Terrence Putney, CPA, managing director with Whitman Transition Advisors and a leading adviser on accounting firm mergers, discusses succession and related M&A trends with Small Firm Philosophy host Jeff Drew, a manager with PCPS.
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 JofA.
Resources mentioned in the conversation:
- The 12-part JofA CPA firm “Succession Series” written by Putney and longtime business partner Joel Sinkin (link is to the last article in the series. Links to the other 11 articles are provided in the Resources List at the bottom of the 12th article).
- 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.
What you’ll learn from this episode:
- Three trends besides succession that are driving accounting firm M&A.
- Is the current firm M&A market favoring buyers or sellers?
- What to consider when evaluating whether RPA is right for a particular project.
- 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.
