How to Transfer a Boomer-Owned CPA Practice to a Millennial

Riding the big gray wave.

By Brannon Poe

The demographic tsunami actually might surprise you. According to Pew Research, Millennials are projected to soon overtake Baby Boomers as the largest generation. That’s right, they will be the biggest generation in the U.S. and they are almost there.

  • Boomers – Born from 1946 to 1964 – 74 million
  • Millennials – Born from 1982 to 2002 – 71 million

Another very important consideration is the declining number of CPAs in the profession. The total number of first-time licensed CPAs has declined about 20 percent since the 1990s.

It appears that the “greying of the profession” may be more of a function of the number of people who have chosen the profession and those that have decided to get out of public practice altogether.

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Brannon Poe



About the Author

Brannon Poe is the founder of Poe Group Advisors and has been facilitating successful accounting practice mergers and acquisitions since 2003.

Brannon started his career in public accounting as an auditor with Ernst & Young before working for several years in auditing and tax preparation for the regional firm of Elliott, Davis & Company.

He is the author of “Accountant’s Flight Plan: Best Practices for Today’s Firms” (published by the AICPA and CPA Canada), “On Your Own: How to Start Your Own CPA Firm,” as well as multiple blogs and the “Accountant’s Flight Plan” podcast.

Click here for more by Brannon Poe