SUCCESSION & RETIREMENT

Jeremy Vokt: Why Bland & Associates Said “No” to Private Equity and “Yes” to ESOPs | MOVE Like This

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Employee ownership gave the firm a growth path on its own terms.

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MOVE Like This
With Bonnie Buol Ruszczyk
For CPA Trendlines

In this episode of MOVE Like This, Jeremy Vokt, managing partner at Bland & Associates, discusses the firm’s journey to becoming Nebraska’s first ESOP-owned CPA firm. Vokt shares how Bland evolved from a small 17-person firm in 2006 to a thriving 130-person business today, thanks in part to its unique blend of traditional CPA services and specialized government consulting work focused on Medicare and Medicaid compliance. 

MORE MOVE

Vokt walks through the fundamentals of an Employee Stock Ownership Plan (ESOP), explaining that it’s similar to a 401(k) but without employee contributions. Instead, employees are allocated shares annually based on their compensation, which grow in value over time through third-party valuations. This approach creates an ownership culture from day one for every employee – from the front desk to the managing partner – without the typical 15- to 20-year wait to buy into ownership. 
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Succession Takes the Driver’s Seat in Private Equity Boom

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PE Specialists: Top row: Fligel, Pellen, Onefater. Bottom: Whitman, Wurtzbacher, O’Donnell

As Wall Street turns its eyes on mid-sized firms.

By CPA Trendlines

Succession is fast emerging as the defining force behind the private-equity-fueled M&A surge, transforming the accounting profession.

Partners in their late 50s, 60s, and 70s — many of whom never documented a transition plan — stare at retirement without successors. That urgency is pushing small and mid-sized CPA firms into the arms of private equity buyers and national consolidators at unprecedented rates.

GET MORE: Ask CPA Trendlines about the private equity boom

ALSO: Private Equity in Accounting | Private Equity Update: 53 Deals, $29 Billion | Deal or No Deal? The P.E. Dilemma for CPAs | Johnston: Private Equity, Shady Vendors, and Broken Software | Brannon Poe: PE Drives Prices–And Change | Behind Sorren’s Roll-Up: $170 Million, 1,000 Employees, 85 Partners | Kopelman: Culture & Capital Fuel Aprio’s Rise | Gear Up For Growth | Ira Rosenbloom: M&A Money’s Easy – Culture Fit’s Hard | Gary Shamis: The Private Equity Hazards for Young Partners | Alex Drost: Firms Get Scrappy Against PE-Backed Competitors | Tim Brackney: Don’t Blame Private Equity. Blame the Accountants |

“It’s no longer a question of whether you need a plan — it’s whether you have the right one,” says James S. Pellen, managing partner at Hertz Herson CPA LLP, speaking at a New York CPA society event. “Succession isn’t just about retiring; it’s about ensuring the firm survives and thrives after you’re gone.”

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Brannon Poe: PE Drives Prices–And Change | Accounting Influencers

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What forces are really driving firm sales—and what separates the sellable from the stagnant?

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Accounting Influencers
with Rob Brown

The great reshuffle in accounting is underway.

With three-quarters of the profession approaching retirement age and M&A activity reaching historic highs, many firm owners ask the same question: What’s my practice worth?

Brannon Poe, CPA, founder of Poe Group Advisors, joins the Accounting Influencers to offer a rare, inside look at how deals are being made, what buyers are looking for, and how firm owners can prepare for a successful exit, whether it’s five weeks or five years away.

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You Need Capable Successors for a Seamless Transition

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Younger businesswoman and older businessman smiling and talking in office hallway

Prepare now.

By Jennifer Wilson

As Vince Lombardi said, “Contrary to the opinion of many people, leaders are not born. Leaders are made, and they are made by effort and hard work.”

 To experience a seamless transition as your leaders grow up, and then eventually out of your organization, identifying and developing your up-and-comers must become a core competence. Without these critical abilities, there won’t be anyone to carry out the vision of your firm, serve your clients, or pay your retirement benefits and/or buyout. In this article, we’ll share ideas for developing leaders in your firm, identifying your partner potentials, and preparing them to step in and lead when the time comes.

MORE: Generosity: The Root of Great Leadership
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The first step is to make a cultural commitment to develop leadership skills in your people. Some firms offer a leadership development program that allows people at various levels and in different roles, including administrators, to enroll in the program to enhance their ability to lead.
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