Successful Succession: A Case Study
William Carlino, Transition Advisors, Mark Goodman, CPA, Managing Partner, Janover LLC; Robert L. Goldfarb, CPA
Over the past several years there have been more than 600 mergers of accounting firms and that trend is not likely to slow down anytime soon. Mergers happen for a variety of reasons – succession, growth, new markets or client services. However, for many firms considering a merger, most are unfamiliar with the process or even where or how to start.
In 2013, Schoenfeld Mendelsohn Goldfarb LLP merged into Janover LLC, one of the top regional practices in the New York area. In this session, former SMG managing Partner Bob Goldfarb will join Janover managing partner Mark Goodman for a Q&A discussion on their affiliation, from their initial meeting, to closing and what it looks like today.
Among the topics they will address are:
- What were their respective goals in the merger?
- How each decided it was the right “fit.”
- What were some of the roadblocks they encountered along the way to contract signing, staff and client retention?
- What aspects of the merger were harder than anticipated and what were easier?
- Five years later; an update on the SMG-Janover union.