This document contains several articles summarizing developments in the accounting industry. It discusses how some mid-sized CPA firms are expanding into financial planning services to boost growth. It also describes how there is intense competition for talent among accounting firms in New York, with firms hiring lateral partners from other firms. Finally, it profiles several large and mid-sized CPA firms in the New York area, highlighting the services they provide and their approaches to growth.

1. CPA FIRMS EXPAND THEIR GROWTH OPTIONS WITH FINANCIAL
PLANNING SERVICES................................................................................................................................................................................................................................S2
TALES FROM NEW YORK’S ACCOUNTING TALENT WARS............................................................................S4
SMALLER AREA FIRM HEDGES ITS BETS WITH INNOVATIVE SERVICES.............S8
A CULTURALLY DIVERSE APPROACH WINS AREA CPA FIRM’S
NEW BUSINESS.........................................................................................................................................................................................................................................................S9
CRAIN’S
CORPORATE
PROFILES
ACCOUNTING
Special Advertising Section

2. Crain’s Corporate Profiles in Accounting Special Advertising Section
When Stuart Shapiro, a partner at accounting firm
Shalik Morris & Co., with offices in Woodbury, N.Y.,
White Plains, N.Y., and Stamford, Conn., first devel-
oped an interest in branching out into personal finance
and wealth management over a decade ago, he pursued
a traditional route. He became a personal financial spe-
cialist, a designation of the American Society of Cer-
tified Public Accountants and a registered investment
adviser. He also acquired licenses to sell life, health and
accident insurance.
In the years since, he fashioned a lucrative sideline as
a financial planner. But for a while it remained just
that, a sideline. He tried convincing his partners at
Shalik Morris that it made sense to cross-sell personal
finance products to existing accounting clients who
already trusted the firm. “I look at it as a value-added
service,” Shapiro says. “They were worried that they’d
lose accounting clients if anything went wrong [with
the markets].”
But Shapiro persisted, and eventually won over his
partners. About six months ago, Shapiro got the OK to
approach the firm’s accounting clients about its finan-
cial planning services, both to help the owners of small
business take a holistic approach to their finances and
to improve Shalik Morris’s growth potential.
It didn’t hurt that he already had an agreement in place
with Morgan Stanley Smith Barney via a solicitor’s
agreement to provide Shalik Morris’s clients access to
a world-class selection of investment platforms and a
top-notch investment team. “I’m more like the quarter-
back,” says Shapiro.
George Spiropoulos, family wealth director at Mor-
gan Stanley Wealth Management, says in the 14 years
he’s been offering his team’s services to CPA firms,
he’s never gotten more inquiries than he has in recent
months. Through the Morgan Stanley association, the
midsize Shalik Morris can compete with much larger
accounting firms and tap their existing client base for
additional revenues.
“I think a lot of midsize firms in the New York area are
getting their margins squeezed at both ends, by big and
small firms,” says Spiropolous. “Lately, I’ve been getting
calls from people I’ve been calling on for years.”
“Many smaller firms in the area see it as a way to build
their practice,” confirms Rick Telberg, president of CPA
Trendlines Research.
In the late 1990s, many states (including New York)
changed rules prohibiting accountants from offering
financial planning. The number of CPAs enrolling in
CPA FIRMS EXPAND THEIR GROWTH OPTIONS
WITH FINANCIAL PLANNING SERVICES
BY ALEC FOEGE
In tune with our focus on finding the next generation
of leaders, EisnerAmper has been a proud sponsor
of the NYU Stern Business School’s Entrepreneurs
Challenge, one of the nation’s largest and most rigorous
business plan competitions.
“New York City is the financial capital of the world; we
have significant resources which we are able to put at
our clients’ disposal right here,” says Charly Weinstein,
CEO of EisnerAmper LLP. “One of the firm’s greatest
strengths is our ability to connect our clients with
the capital markets. We are strongly positioned in the
emerging technology community, thereby connecting
the two most important drivers of economic activity in
New York today: technology and capital.”
EisnerAmper is one of the largest full-service account-
ing and advisory firms in the U.S. The firm provides
audit, accounting and tax services, as well as corporate
finance, internal audit and risk management, litigation
consulting, forensic accounting and other profession-
al services to clients across all the major industries;
working with high net worth individuals, family offices,
closely-held businesses, and start-up, middle-market,
and Fortune 500 companies.
EisnerAmper is recognized internationally as one of the
premier CPA firms providing services to the financial
services industry. This in turn fuels our knowledge of
the capital markets, helping clients with mergers and
acquisitions, debt financing, due diligence, valuation,
international expansion, restructuring and more.
EisnerAmper is one of the nation’s leading auditors of
SEC registrants and maintains one of the largest public
company practices of any independent firm, providing
services to more than 150 public companies. Eisner-
Amper is the fifth largest CPA firm in the New York
area and represents the alternative to the Big Four.
“What has made us successful is the drive to seek out
entrepreneurial leaders. This keeps us active in emerg-
ing markets and in turn drives our own growth,” says
Weinstein. “Our clients’ success contributes to our own,
and vice versa. Our expertise is in helping companies
grow, from start-up through IPO.”
We recognize that the fastest-growing, most dynamic
companies are imbued with their leader’s sense of mis-
sion and determination to succeed. Our experience has
taught us that while all business owners and CEOs have
their own management style, effective leaders share a
number of attributes:
› A clear vision of what the organization should be as
it grows and evolves.
› An ability to find, recognize and pursue opportuni-
ties.
› A strong drive to meet goals and immediately estab-
lish new ones.
› A willingness to make tough decisions about people,
finance and strategy.
› An ability to serve as the organization’s motivator
and conscience.
› An understanding that business is personal; that
the relationships we build are critical to growth and
success.
EISNERAMPER LLP
BUSINESS LEADERS IN NEW YORK
CONTACT
Charles Weinstein, CEO
212.891.8030
www.eisneramper.com
S2
(Continued on S3)

3. Crain’s Corporate Profiles in AccountingSpecial Advertising Section
S3
CBIZ MHM, LLC (CBIZ) delivers high-caliber ac-
counting and tax services to the New York marketplace,
providing the depth of services of the Big Four and
the personal service of a local firm. Middle-market
clients rely on us as their trusted advisor because we
address their unique needs and focus our efforts on
providing specialized tax services that will benefit
our marketplace.
CORPORATE TAX OUTSOURCING
Many corporations are consistently faced with the
dilemma of whether to build an internal tax practice
or hire an accountant. We make that decision easy by
giving our clients an accessible team that will feel like
an internal tax department but will also provide the
breadth of services of a hired accountant. Our expe-
rienced professionals partner with your executives to
handle large, complex tax matters. Our expertise, cou-
pled with proactive communications, ensures strong
relationships with client personnel, making CBIZ a
trusted resource for all tax matters.
PRIVATE CLIENT SERVICES
Our Private Client Services group provides innovative
solutions for managing the day-to-day financial admin-
istration activities of high-net-worth individuals and
families. For more than 40 years, clients have relied on
us to relieve the difficulty and burden of their routine
matters so they can enjoy the benefits of their families
and wealth, knowing their personal and administra-
tive needs are being handled with the highest level of
integrity and professionalism. Clients benefit from our
multi-disciplinary team which is uniquely positioned
to implement an end-to-end family office and person-
al business management approach with a full suite of
customized advisory and tax services.
INTERNATIONAL TAX SERVICES
Improved technology and communication have opened
up international opportunities for every business, but
operating on a global scale presents a unique set of
business needs. Our international professionals enable
clients to confidently take that next step. We are well-
versed in the interrelationships of the many foreign
and U.S. tax regimes that are vital to ensuring your
business’s international operations and tax filings are
correct. Our knowledge allows us to formulate innova-
tive and proven structures to minimize your tax burden
and provide proactive consultation on cross-bordered
tax matters. Our experts are able to assist businesses of
all sizes with operating on an increasingly global scale.
CBIZ
HELPING CLIENTS MANAGE THEIR SUCCESS
CONTACT
Kenneth Goldstein and Alison Wood
1065 Avenue of the Americas
New York, NY 10018
Ph: 212.790.5700
W: cbiz.com/cbizmhm-newyork
“PROVIDING THE
DEPTH OF SERVICES
OF THE BIG FOUR
AND THE PERSONAL
SERVICE OF A LOCAL
FIRM.”
mixing financial planning with traditional tax work,
the numbers suggest that the trend is likely to continue
gathering steam.
Says Kive Strickoff of his firm’s current business, “Fi-
nancial services is growing at a higher percentage than
the accounting side.”
financial planning programs has steadily increased in
recent years. In 2011, 427 accountants took the certified
financial planner exam, as compared with 249 the
previous year. Some 7,500 CPAs held the CFP designa-
tion at that time, according to the Certified Financial
Planner Board of Standards, and another 5,000 were
registered as personal financial specialists through the
AICPA.
Large national firms usually build financial planning
departments in house, but smaller firms typically need
to outsource at least part of the function.
Kive Strickoff, who runs a 37-year-old, seven-person
accounting firm out Garden City, N.Y., and Manhattan
with his wife, became a registered investment adviser
in 1999 and chose to provide financial planning for his
existing clients personally. “I have developed a good
rapport with my clients over the years,” Strickoff says.
While Strickoff directly provides many of his account-
ing clients with advice regarding their investment
portfolios and retirement plans, he relies on 1st Global,
a Dallas-based research consultant and broker-dealer
that caters to CPA firms, for all of his back-office finan-
cial functions, including trading.
Ryan George, director of communications at 1st Global,
says his firm teaches accounting firms how to expand
into wealth management as a growth strategy. “We
believe a business’s accountant is the ideal person to
counsel them on personal financial planning since
the accountant has the whole financial picture,” says
George.
George says 1st Global has seen a pickup in account-
ing firms looking to offer financial services in recent
months, as well as M&A advice and payroll consulting.
“The lack of organic growth in the industry” is a big
driver, he says. In addition, “the traditional accounting
business is transactional,” unlike wealth management,
which generally bills a percentage of assets under man-
agement.
While some CPA firms still express reluctance about
(Continued from S2)

4. Crain’s Corporate Profiles in Accounting Special Advertising Section
services, food services, franchising, funeral homes,
healthcare, law firms, manufacturing/distribution, not-
for-profit, real estate, restaurants, staffing, technology.
CLIENT PROFILES
› Public and privately-held companies
› High-net worth individuals
› Multi-family/generational businesses
MERGER & ACQUISITION GUIDE
FOR BUSINESS OWNERS
While deals are happening around the world on a
daily basis, many businesses are maintaining the status
quo and are missing the opportunity to grow or tran-
sition their business with an M&A strategy. Research
data shows that the best business owners have M&A
strategies long before they plan on participating in the
M&A process.
Get started on building your M&A strategy today and
download 5 M&A Scenarios Every Owner Should Be
Prepared to Face at citrincooperman.com/MAplan
Since 1979, Citrin Cooperman has grown successfully
by adding quality clients in a diverse range of industries
coupled with strategic mergers. Our commitment to
being a trusted advisor in the lives of our clients has al-
lowed the firm to attract and retain clients and talented
professionals.
FIRM STATS
Employees: Approximately 500
Office Locations: New York, NY (Headquarters);
White Plains, NY; Norwalk, CT, Livingston, NJ;
Philadelphia, PA
Annual Revenue: $132 million
CORE SERVICE LINES
› Audit and attest
› Tax compliance and research services
› Accounting and advisory
PREMIER SERVICE AREAS
› Business consulting
› International tax
› Litigation
› Merger and acquisition
› State and local tax
› Valuation and forensic services
INDUSTRY SECTORS
Apparel, architecture and engineering, auto dealer-
ships, construction, entertainment and music, financial
CITRIN COOPERMAN
ACCREDITATIONS
Citrin Cooperman is a member of
Moore Stephens North America and
Moore Stephens International Ltd., an
International network of accounting
firms. Additionally, Citrin Cooperman
offers wealth management and insurance
services under their subsidiaries: Citrin
Cooperman Wealth Management and
CC Employee Benefits.
JOEL A. COOPERMAN
Managing Partner and Co-Founder
Citrin Cooperman
UNCOMPROMISED SERVICE AMIDST FAST-PACED GROWTH
S4
Cornelius V. Kilbane, Jr., partner-in-charge at the mid-
town Manhattan-based accounting firm Raich Ende
Malter & Co., vividly recalls the time a couple years
ago when he extended a generous offer to a partner at
a competing firm to join Raich as a partner. After an
intense period of negotiations, the deal was finalized.
Or so Kilbane thought. In the eleventh hour, rather
than coming on board, the candidate instead decided to
accept a generous counteroffer from his current firm.
Kilbane was disappointed, but the story doesn’t end
there. A year later, he got a call from the very same
partner, once again expressing serious interest in
switching teams. Cautious but game, Kilbane ultimately
acted against his better judgment and made a second
offer.
This time, the candidate agreed to make the jump and
was hired. Today, he remains at Raich Ende Malter as
a productive partner and just one example of several
successful senior lateral hires Kilbane has made in
recent months.
Asked about this surprising twist in the talent acqui-
sition process, Kilbane responds nonchalantly, saying
only, “We gave him a fair shot.”
A fair shot, indeed. Stories like Kilbane’s are becoming
increasingly common in the New York area’s over-
heated public accounting market. While the economy
continues to recover, organic growth at locally-based
accounting firms remains sluggish, and the average
age of partners continues to rise with mass retirements
looming. Meanwhile, firms are getting more specialized
and need talented partners to fill out existing rosters
and new niches.
“We’ve had a substantial number of partners com-
ing from the Big Four and other national firms,” says
Charles Weinstein, chief executive officer of Eisner-
Amper, a 170-partner CPA firm, also based in mid-
town. Weinstein says his firm has hired 40 lateral part-
ners over the last five years but never to acquire their
clients. “We’re opportunistic: The only good reason to
bring in lateral partners is to expand expertise.” As it
happens, Weinstein arrived at what was then Eisner in
1989 as a lateral hire.
Not that Weinstein hasn’t had his own frustrating
battles in bringing on new talent. “One partner, three
times he accepted offers from us, and each time he was
countered and stayed with his current firm,” he says.
After three tries, Weinstein moved on.
TALES FROM NEW YORK’S ACCOUNTING
TALENT WARS
Whatever the reason, the accounting talent wars
have reached a feverish pitch in the last year, by most
accounts. In a 2013 survey done by the American Insti-
tute of CPAs, respondents identified “finding qualified
staff” as one of the top five concerns in four out five
categories based on the firm’s size (the only exception
BY ALEC FOEGE
(Continued on S6)

5. Crain’s Corporate Profiles in AccountingSpecial Advertising Section
S5
For decades, Anchin, Block & Anchin LLP has been
recognized as a top-tier firm nationwide in terms
of its quality, size, management, scope of services,
and work environment. With a diverse staff and nu-
merous specialized industry and service teams, the
full-service firm provides privately-held businesses
and high net worth individuals with a wide range
of traditional and non-traditional advisory services.
Services include financial statement preparation;
tax planning and compliance services; tax credits
and incentives; management and succession adviso-
ry services; litigation support, forensic accounting
and valuation services; and merger and acquisition
services.
The firm’s mission is to be our clients’ Expert Part-
ner, accomplishing this through creativity, inno-
vation, insight, integrity and care. Our size and
culture allow us to provide a full range of services
while offering personalized attention to the diverse
needs of our clients. By offering this type of superi-
or service and a quality work product, Anchin has
enjoyed long-term relationships with our clients –
some for more than half a century.
ANCHIN’S TAX CREDITS &
INCENTIVES GROUP: HOW WE
HELP CLIENTS
The Anchin Tax Credits & Incentives Group is
committed to helping clients take advantage of the
many incentive programs offered by federal, state
and local government agencies. These programs en-
hance economic development by spurring compa-
nies to make business investments and to create and
retain jobs, thus promoting commercial activity and
strengthening the economy. Our specialists identify
companies that are eligible for these business
incentives and assist them through the complexity
of government programs. The group works with a
wide range of tax and business incentive programs
to deliver tangible benefits.
Millions of dollars are awarded annually to compa-
nies in the tri-state area through economic devel-
opment incentives. These opportunities translate to
significant tax savings, many resulting in substan-
tial refunds or credits. Don’t leave money on the
table: Anchin’s Tax Credits & Incentives Group can
analyze your current situation and help you obtain
and maximize valuable incentives.
ANCHIN, BLOCK & ANCHIN LLP
SOME IMPORTANT PROGRAMS TO
TAKE ADVANTAGE OF NOW INCLUDE:
› START-UP NY
› New York State Excelsior Jobs Program
› Federal Research & Development Tax Credits
› New Jersey Economic Opportunity Act
CONTACT
Paul Gevertzman, Practice Leader, Anchin’s Tax
Credits & Incentives Group
1375 Broadway, New York, NY 10018
Ph: 212.840.3456
W: www.anchin.com

6. Crain’s Corporate Profiles in Accounting Special Advertising Section
Ninety years old – generally the thinking is that things
slow down at this age. This is not the case with Fried-
man LLP and its more than 300 accounting, tax and
business consulting professionals. The firm will cele-
brate this milestone throughout 2014 with a renewed
sense of purpose and a determination to continue to
provide exceptional service to its clients, some of which
have been with Friedman for decades.
INDUSTRY-FOCUSED
ACCOUNTING, TAX AND
BUSINESS CONSULTING
SERVICES
“What makes Friedman unique is our power in a small
package,” explained Friedman’s Managing Partner
Bruce Madnick. “We are able to access resources from
our New York City headquarters, multiple New Jersey
locations, Long Island office and worldwide through
DFK International - all staffed with the area’s leading
industry and technical professionals.”
Part of that power comes from Friedman’s ability to
specialize. A good example of this is exhibited in the
firm’s tax department. In addition to its well-regarded
core compliance and planning services, the practice
includes professionals dedicated to areas such as Inter-
national Tax, State and Local Tax (SALT), Tax Contro-
versy and Governance, Risk and Compliance (GRC).
Friedman is particularly known for niche practice
areas, such as the Real Estate and Forensic Account-
ing, Litigation Support and Valuation Services (FLVS)
practices, both of which have seen continuous growth
over the past year. In addition to these practice areas,
the firm’s industry expertise includes Fashion, Not-for-
Profit, Affordable Housing, Hospitality, Manufacturing,
Telecommunications and Technology, to name a few.
ACHIEVING GOOD IN OUR
OFFICE AND OUR COMMUNITY
Friedman is dedicated not only to its clients, but also
to its employees and the community. The firm provides
its staff with unique opportunities to grow and manage
their careers. The firm is consistently named one of
the best places to work by Crain’s New York Business,
Accounting Today, NJ BIZ, Long Island Business News,
and Vault.com.
Demonstrating a commitment to the community,
members of firm management have been involved with
a number of nonprofits, often in leadership positions.
Organizations include Big Brothers Big Sisters of New
York, NY Philanthropic Advisors Network, Brooklyn
and Manhattan Chambers of Commerce, B’nai B’rith
and ORT America. The firm is also a proud sponsor of
a Fashion Institute of Technology scholarship award.
The firm’s commitment to its clients, employees and
community will continue through 2014 and beyond,
as the values which have served the firm so well for
ninety years continue to be the center of its philosophy.
FRIEDMAN LLP
THE NAME YOU SHOULD KNOW
CONTACT
1700 Broadway | New York, NY 10019
Ph: 212.842.7000
E: info@friedmanllp.com
W: FriedmanLLP.com
John Fleury (Audit Senior), Maria Gonzalez (Senior Manager), Bruce Madnick
(Managing Partner) (from left to right, back row)
Daphne Liu (Experienced Associate), Harriet Greenberg (Partner)
(from left to right, front row)
S6
was sole practitioners). This was a dramatic rise from
the 2011 survey, in which only one category cited the
talent deficit as a top five concern.
In New York, the pressure to hire talented partners
seems even more acute.
“The New York metro area is the global center of the
public accounting universe,” so naturally everything
happens here on a larger scale, says Robert Fligel, pres-
ident of RF Associates, a Manhattan-based firm that re-
cruits and helps place partners at area accounting firms.
Fligel, who also consults on accounting firm mergers,
says the region’s accounting M&A mania of recent years
has created a pool of accomplished partners who may
be suddenly unhappy with the new leadership of the
merged firms.
Fortunately for them, the lack of organic growth in
the industry means that plenty of competing firms are
looking to add potential rainmakers to their ranks.
Over the last decade, colleges graduated fewer account-
ing majors, due to the pull of Wall Street and technol-
ogy companies, and of those who did pursue account-
ing, many joined the corporate world. And while the
economic crisis of 2008 made some of those flashier
careers seem a little less appealing, the more recent
recovery has left many area accounting firms desperate
for experienced talent.
Joel Cooperman, co-founder and managing partner at
Citrin Cooperman, says his firm has been bringing in
lateral partners for more than a decade. “But over the
last couple years, it has been more prevalent,” he says.
Just in the past month, his firm has hired three lateral
partners.
(Continued from S4)
(Continued on S7)

7. Crain’s Corporate Profiles in AccountingSpecial Advertising Section
S7
FIRM OVERVIEW
Grassi & Co. specializes in providing accounting, audit-
ing, tax, litigation support, valuation, business manage-
ment and technology consulting services to businesses
in the New York metro area. The breadth and depth of
services available to Grassi & Co.’s clients are equivalent
to those offered by Big Four firms, but enhanced by a
more personalized approach.
CLIENT-CENTRIC
SERVICE APPROACH
Grassi & Co. is built around a client-centered approach,
providing clients with expertise based around their
specific needs. Each practice group studies the dynam-
ics of their industry, gathering information to make
positive business improvements for clients. The firm’s
professionals meet with thought leaders within the
industries they serve in order to provide a high level of
service and stay abreast of the major issues impacting
their clients.
COMMITMENT TO GROWTH
Grassi & Co.’s overall mission is to help its employees,
clients and community succeed and grow. The firm and
its professionals have been committed to the growth
and improvement of the New York Metro community
for more than 30 years.
As a firm that values and embraces cultural differences,
Grassi & Co. strives to continuously enhance inclusive-
ness throughout the firm.
The firm’s commitment
to diversity, continuous
training and improve-
ment for all of its employ-
ees instills the confidence
that its team has the
tools necessary to drive
growth—for its employ-
ees, the firm, the commu-
nity and most importantly
its clients.
LEADING THE
INDUSTRY
As a leader in our market,
Grassi & Co. has been
recognized by many
industry publications and
organizations.
Some of the firm’s most notable accolades include:
› “Best of the Best Firm” for EIGHT consecutive years
› Top 50 Fastest Growing Company in New York City
› Best Places to Work in New York City
› Best Company to Work for in New York State
› Accounting Service Firm of the Year Award
› Long Island Business Achievement Award
GRASSI & CO.
Industries served:
Construction . Manufacturing & Distribution . Healthcare . Technology . Real Estate
. Architecture & Engineering . Financial Services . Retail . Transportation & Shipping
Bringing clients to the next level
CONTACT
488 Madison Avenue | New York, NY 10022
Ph: 212.661.6166
50 Jericho Quadrangle | Jericho, NY 11753
Ph: 516.256.3500
W: grassicpas.com
In early October, Patricia A. Cummings joined Citrin
Cooperman as a partner after 17 years with Grant
Thornton, where she most recently served as assistant
managing partner of its New York office.
“Pat is representative of the burgeoning need for fast-
track lateral partners,” says Fligel, who was advisor
on the deal. “As a professional with robust rainmak-
ing skills, a highly technical background and current
leadership skills as the Assistant Managing Partner for
a national firm, she realized that she wanted a more
entrepreneurial next step and chose Citrin.”
Not surprisingly, Joel Cooperman credits increased
activity by recruiters as partly responsible for the surge.
“I’m still getting calls for me to leave,” he says, jokingly.
But bringing in a lateral partner is rarely a simple
process. First, there are recruiting fees, which can be
significant. Then there is the cost to the firm until
the partner brings in new business. Most accounting
partners also come with restrictive covenants, which
need to be negotiated with firm the partner is leaving.
Depending on whether or not a partner is bringing
along existing clients typically prompts another round
of negotiations.
“Often, a partner will leave with a book of business,”
says Cooperman.
Hence, the counteroffer. “The firm might be losing a
key person,” says Robert Fligel. “So when they go in to
resign, the company tries to retain them.” As a general
rule, Fligel doesn’t think accepting counteroffers is a
good idea, “unless the partner is made aware of newly
provided information.”
Finally, many area firms agree that there also has been a
generational shift in the way partners view the account-
ing industry.
“The younger generation views work as an integral part
of life,” says Norman Schulman, co-managing partner
at Schulman Lobel Wolfson Zand Abruzzo Katzen
& Blackman. Many are younger partners are more
entrepreneurial than their predecessors, eager to find
the perfect fit for their skills and ambitions. “I think the
view of a lateral partner is ‘the grass is always greener.’”
Many younger partners also have lived through merg-
ers that make staying put less desirable. “Sometimes
the firm is too top-heavy or opportunity is too limited,”
says Kilbane.
That said, area firms say their prime interest when
hiring partners away from rivals is always acquiring
talent. Right now, the demand in sectors such as taxes
and financial services is particularly strong. But cultural
fit also ranks nearly as high, meaning many CPA shops
like to take their time to get to know a partner candi-
date. “We don’t need a decision the same day,” says Joel
Cooperman. “We’re not the Titanic.”
With large accounting mergers increasing, and many
smaller firms struggling to keep pace, many firms
anticipate a continuing stream of partners looking to
make a move to a firm that fulfills their career dreams.
The opportunities are definitely there. As Norman
Schulman puts it, “We’re anxious to talk to anyone
who’s talented.” Still, making the lateral leap warrants
serious contemplation. “If someone’s very unhappy, you
can get them in a heartbeat,” says Schulman. “But we
want someone to come here because they’re a good fit.”
“RIGHT NOW, THE
DEMAND IN SECTORS
SUCH AS TAXES AND
FINANCIAL SERVICES
IS PARTICULARLY
STRONG. BUT
CULTURAL FIT ALSO
RANKS NEARLY AS
HIGH, MEANING
MANY CPA SHOPS
LIKE TO TAKE THEIR
TIME TO GET TO
KNOW A PARTNER
CANDIDATE.”
(Continued from S6)

8. Crain’s Corporate Profiles in Accounting Special Advertising Section
THE MARCUM
REAL ESTATE GROUP
The Firm s Real Estate Group specializes in providing financial, tax and
accounting solutions. Marcum provides a full range of services to real
estate owners, developers, managers, REITs, private equity funds,
institutional investors hotel owner operators and other real estate
related entities. Our expertise includes assurance services, tax return
preparation, tax consulting, acquistion due diligence, operational
agreed upon procedures, partnership cash flow modeling and
transactional services.
The Real Estate Group offers a wide range of assurance, tax and
accounting services tailored to the meet the specific needs of the real
estate industry. These services are client customized to satisfy the
requirements of the real estate investor ranging from the individual
real estate owner through the largest global institutional investor.
The professionals in the Real Estate Group have years of experience
and expertise to perform at the highest level. Our partners have spent
their careers building strong reputations among real estate leaders.
From day one to the completion of our engagement, you ll have
ongoing access to a partner who will make sure you get the
comprehensive advice your investment deserves. Our background
encompasses.
Daniel Vitulli, CPA, Partner
Phone 212.485.5575
daniel.vitulli@marcumllp.com
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Discover the Difference
The complexity of hedge fund investing can create
unique challenges for the accounting firms that prepare
their tax returns. But funds composed of investments
in other funds, so-called funds of funds, make such
challenges even tougher, due to their seemingly endless
web of reporting requirements.
Whether it is a technological upgrade, an expanded
array of services, or new billing structure, innovations
in areas that are relevant to specific niches of a firm’s
client base often can help an accounting firm differenti-
ate itself in a crowded, competitive marketplace such as
the New York area.
It was in this context that Kenneth Wolosoff, a tax
partner at Margolin, Winer & Evens, a 200-person
accounting firm with locations in Garden City, N.Y.,
and Manhattan, gave a presentation at an all-day tax
conference held by the Nassau County chapter of the
New York State Society of Certified Public Accountants
in December 2012.
“I spoke for an hour on how to understand a Schedule
K-1,” Wolosoff recalls, referring to a tax document used
to report the incomes, losses and dividends of a busi-
ness’s partners or shareholders.
To complete their Schedule K-1s, funds of funds are
required to gather all items of income and deduction
from their underlying hedge funds while preserving
the tax attributes reported by each of those funds. One
difficulty in preparing a fund of funds K-1 is that the
various funds and their accountants can end up enter-
ing the same item in different places on a Schedule K-1.
Qualified dividend income, for example, can appear on
line 6B or on line 1, or even on line 11F. Because a K-1
is filed for each related fund, the Summary K-1 can add
up to a mountainous pile of paperwork.
After the talk, Wolosoff says, attendees formed a long
line to ask him further questions. “One person said, it
takes me three hours to gather the information for just
one individual’s K-1,” he says. Astonished that many tax
professionals were confounded by the process, Wolos-
off thought to himself, “Can’t you make it simpler?”
Fortunately for Margolin’s clients, the answer was yes.
Wolosoff and his firm spent the next few months
devising an innovative, technology-based Schedule K-1
solution tailored specifically to the needs of the hedge
fund industry, from which it draws a substantial num-
ber of clients. For example, Margolin’s Summary K-1
tracks non-passive income and loss across any lines
SMALLER AREA FIRM HEDGES ITS BETS WITH
INNOVATIVE SERVICES
it can appear on and alerts the user of any anomalies
that need further attention, such as foreign qualified
dividend income.
While it becomes increasingly difficult for smaller New
York area accounting shops to compete with large na-
tional and regional players, there are still advantages to
be had for nimbler firms that can develop new products
and services for existing clients.
“Some hedge funds, since the Madoff affair, go to
the Big Four or national firms,” due to compliance
concerns, says Margolin’s managing partner, Teddy
Selinger. But oftentimes, a local CPA firm with a strong
focus on their industry can help investment firms
operate more efficiently and transparently. Selinger says
Margolin’s new K-1 solution has already served as a
good marketing tool: “We have several interviews lined
up with firms interested in the new product.”
The benefits of devising alternative and creative solu-
tions to industry-specific accounting problems also
helps reinforce a firm’s value to existing clients, reem-
phasizing to those clients why they chose the CPA firm
in the first place.
BY ALEC FOEGE

9. Crain’s Corporate Profiles in AccountingSpecial Advertising Section
S9
“MORE AND MORE
SMALLER AND MIDSIZE
ACCOUNTING FIRMS
ARE SIMILARLY
DISCOVERING THE
BENEFITS OF HIRING
TALENT FROM
SPECIFIC IMMIGRANT
COMMUNITIES TO
HELP GENERATE NEW
BUSINESS.”
He could see the kid was bright. But when Mark Curcio
first hired the young staff accountant, he had a few
concerns. Curcio, a principal at the 15-employee Man-
hattan-based CPA firm Curcio, Wieselthier & Cohen,
noticed that Anthony Chen, a Chinese native educated
in the United States, was a hard worker but his English
wasn’t perfect and he lacked some of the basic commu-
nications skills that characterize the profession’s best
rainmakers.
So Curcio decided to do something about it.
“I encouraged him to pursue clients in the Chi-
nese-American community,” says Curcio. “I told him if
he brought in clients, he’d get compensated according-
ly.”
To his surprise, Chen came to him soon after and told
him he had connected with Chinese businessman look-
ing to establish a new venture in the New York area.
The Chinese gentleman, who hardly spoke any English,
explained to Curcio – with Chen interpreting – that
he wanted to emigrate from Shanghai because he was
concerned about the impact of the city’s heavy air pol-
lution on his children. He said he wanted to establish a
mortgage banking firm here, and that if he moved here,
other families he knew in China would come here too.
Curcio hasn’t signed the client yet, but the experience
has changed his whole mindset about growing his
practice. “None of this could happened without having
someone on staff who knew the language and culture,”
he says.
While multiculturalism is nothing new in the New
York marketplace, more and more smaller and midsize
accounting firms are similarly discovering the benefits
of hiring talent from specific immigrant communities
to help generate new business. “I consult with firms of
every size, from sole practitioners to the Grant Thorn-
tons and McGladreys,” says Philip Whitman, partner at
accounting consultancy Erickson Whitman. “A lot of
firms I’ve been working with have been focusing on the
immigrant market.”
Some firms are more methodical in their approach.
Prager Metis, a 40-partner, 150-employee Manhattan
firm, has established an Italian desk, a Turkish desk, a
German desk and French desk, to help target in-bound
business from those particular countries. “At our firm,
we’re very cognizant of diversity,” says Prager Metis
partner Glenn Friedman. “Do we market that? We do
when appropriate.”
“Any firm of any size that does not consider global is-
sues is not optimizing its growth potential,” says Marta
A CULTURALLY DIVERSE APPROACH WINS
AREA CPA FIRM’S NEW BUSINESS
BY ALEC FOEGE
THE REAL RISK IN
INTERNATIONAL EXPANSION IS
STAYING HOME
Growth in China and the rest of Asia is slowing. Europe
is still struggling to emerge from the Great Recession.
Middle market business owners may think this isn’t the
time to consider overseas expansion. Demographics say
they’re wrong.
Taken together, China and India account for more
than a third of the world’s population. The pace of the
massive infrastructure projects that spurred growth in
China may have slowed, but demand for US consumer
goods is likely to remain very strong, as does growth
in financial services and other service sectors. Lifting
the standard of living in developing markets will be the
major driver of global growth for years. For US compa-
nies, it’s often a choice between incremental growth at
home or exponential growth overseas.
THE OPPORTUNITY IS CLEAR.
THE RISKS ARE OFTEN LESS SO.
What’s the best way to enter new markets? Working
with a sales agent or an alliance with a foreign oper-
ation? Buying an existing company? Starting a new
one? Opening new facilities? The right answer varies
depending on your goals.
How do you manage your global tax exposure when
you’re dealing with numerous tax regimes and facing
new challenges like transfer pricing? What about com-
pliance risks, for example US and local anti-corruption
laws? How do you consolidate financial results when
you’re dealing with different accounting standards? Just
as operating in the US means dealing with federal, state
and local jurisdictions, operating overseas can mean
dealing with a variety of regional, national and pro-
vincial rules and regulations. From market to market,
everything – business customs, employment laws,
consumer preferences – changes.
Successful international companies integrate their
operations seamlessly. Getting that right takes seamless
advice. McGladrey and our global network, RSM Inter-
national, are devoted to integrated international service
– service focused on the middle market companies
that are the lifeblood of our business and of the global
economy.
The risks are real. But not pursuing global opportuni-
ties may be the biggest risk of all.
McGladrey is ready to help.
MCGLADREY
CONTACT
Peter M. Brady, Principal Consulting Leader -
Northeast Region
P: 212.372.1880
E: peter.brady@mcgladrey.com
Peter Brady
Principal - Consulting Leader - Northeast Region
(Continued on S10)

10. Crain’s Corporate Profiles in Accounting Special Advertising Section
Alfonso, a principal at Morrison, Brown, Argiz & Farra,
with offices in New York and Miami. “A diverse work-
force provides strength.”
In a previous generation, an immigrant small business
owner might have looked for an accounting firm run
by accountants of a similar ethnic background. But the
dynamics have changed as certain immigrant-owned
businesses in the New York area have flourished.
“Ethnicity-specific firms are smaller,” say Lou Grassi,
managing partner and chief executive at Grassi & Co.
“For companies that have larger growth, they’re looking
for bench strength. If they have large plans, they want
to know that their CPA firm can service them as they
expand.” Grassi notes that his 250-employee firm
speaks more than 27 languages.
Whatever the reason, New York area firms are discov-
ering that the “unicultural” approach to finding new
clients can be a differentiator when competing against
larger national firms.
“I don’t know where this is going,” says Curcio of his
firm’s initial foray into the Chinese-American client
base. “But it’s been a nice story so far.”
To us, trust is more than a word; it’s our currency –
an asset we value above all else. We deliver it every day
through our actions, our information and a relentless
focus on doing what’s right – the first time, every time.
That’s what’s made us one of the world’s most trusted
accounting and advisory firms for leading businesses
owners, institutions and individuals in the U.S. and
abroad.
With more than 1,000 dedicated employees in 10
offices, we combine market-leading expertise with
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For more than five decades, we’ve helped our clients
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A TRUSTED INDUSTRY LEADER
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share one common goal: trusted performance.
We achieve this through our people, process and
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step ahead.
That’s why they trust us. That’s why they stay with us.
POWERED BY TRUST
INDUSTRY
RECOGNIZED
AND APPROVED
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Work For
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Accounting and Auditing Firm
› 2012 Working Mother 100 Best
Companies
› 2012 Accounting MOVE Project Best
Public Accounting Firm for Women
› 2012 Family Office Review Best Private
Client Accountancy
EXPERIENCE TRUST FIRST-HAND
Howard Altman
Ph: 917.438.3940
E: haltman@rkco.com
“FOR MORE THAN FIVE
DECADES ROTHSTEIN KASS
HAS HELPED CLIENTS
ACHIEVE THE HIGHEST
LEVELS OF PERFORMANCE,
PROSPERITY AND SECURITY.”
ROTHSTEIN KASS
S10
(Continued from S9)
Crain’s Corporate Profiles in Accounting was created
by Crain’s Custom Connections Studio. For more
information, or to be included in the next edition, please
contact Trish Henry at thenry@crainsnewyork.com or
(212) 210-0711.