Everything CPA and Private Equity with Phil Whitman and David Wolfskehl

Whitman Transition Advisors
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Welcome to Everything CPA and Private Equity with Phil Whitman and David Wolfskehl, the go-to podcast for accounting professionals navigating the rapidly evolving world of private equity. Hosted by the seasoned team at Whitman Transition Advisors, this podcast breaks down complex topics, shares expert insights, and provides actionable advice to help CPA firms understand and thrive in the private equity landscape. Each episode explores critical concepts, from investment strategies to partnership models, and features candid conversations with industry leaders and special guests. Whether you’re exploring opportunities, managing transitions, or simply curious about the latest trends, this podcast delivers the knowledge you need to make informed decisions and drive your firm’s success. Tune in, subscribe, and join us as we guide you through the intersection of accounting and private equity!

  1. 7h ago

    Ep 60: How Private Equity Is Reshaping Accounting Today’s Top 100 Firms with Daniel Hood

    Private equity is reshaping the accounting profession, but what does the latest Top 100 Firms report reveal about its impact?   In this episode of Everything CPA and Private Equity, hosts David Wolfskehl and Phil Whitman welcome Dan Hood, Editor-in-Chief of Accounting Today, to discuss key findings from the Top 100 Firms report, the growing influence of private equity, and what these developments mean for the future of CPA firms.   In this episode, you will be able to: • Understand the growth trends among the Top 100 accounting firms, including how mergers, acquisitions, and private equity investments are accelerating expansion. • Explore the rise of alternative ownership models, from ESOPs and family offices to strategic investors, and how they are creating new opportunities beyond traditional partnerships. • Discover how private equity is transforming CPA firm M&A, including the emergence of PE-backed platforms and increasingly complex deal structures. • Learn why client-focused strategies are becoming a major driver of growth, including stronger client relationships, cross-selling opportunities, and technology-enabled services. • Gain insights into the future of CPA firm ownership and succession, including the opportunities and challenges associated with alternative practice structures and outside investment.   Listen to the full episode of Everything CPA and Private Equity to hear Dan Hood’s perspective on the latest industry trends! #EverythingCPAandPrivateEquity #PrivateEquity #CPAFirmGrowth #AccountingToday #MergersAndAcquisitions

  2. Oct 29

    Ep 59: Why the Highest Offer Isn’t Always the Best CPA Firm Deal with David Kells

    Is the highest offer really the best deal for your CPA firm? In this episode of Everything CPA and Private Equity, David Wolfskehl, Phil Whitman, and Dave Kells discuss why CPA firm leaders should avoid drifting into transactions without a clear strategy. They explore the importance of understanding your options, evaluating potential buyers beyond the financial offer, and preparing your firm to maximize its value before making one of the biggest decisions in its history. In this episode, you will be able to: • Understand the risks of drifting into a transaction and why having a clear strategy before considering offers is essential. • Discover why the highest multiple doesn’t always translate into the greatest enterprise value or the best long-term outcome. • Learn how cultural alignment, leadership expectations, and strategic fit can influence the success of a transaction. • Explore how deal structures, adjusted EBITDA, and working capital requirements can impact the actual value of an offer. • Identify ways to strengthen your firm’s profitability, operational efficiency, and overall value before entering the M&A marketplace.   Listen to the full episode of Everything CPA and Private Equity to learn why thoughtful planning, the right strategic partner, and a clear understanding of your firm’s goals can make all the difference in achieving the best possible outcome! #EverythingCPAandPrivateEquity #CPAFirmMA #PrivateEquity #CPAFirmValuation #SuccessionPlanning

  3. Oct 15

    Ep 58: Inside HBK's Strategy for Acquisitions and Independent Growth with Jeremy Hartzell

    How does a CPA firm build a competitive acquisition strategy while staying true to its culture and long-term vision? Recorded live at BDO Evolve in Las Vegas, this episode of Everything CPA and Private Equity features David Wolfskehl and Phil Whitman in conversation with Jeremy Hartzell, COO and General Counsel of HBK.  In this episode, you will be able to: • Understand how HBK structured acquisitions around EBITDA, partner equity, and long-term growth opportunities. • Discover why leadership alignment, cultural compatibility, and strong relationships can influence acquisition decisions beyond purchase price. • Explore how HBK’s wealth management and IT services create additional value for incoming partners and expand opportunities for clients. • Learn how an integrated legal and M&A team can streamline negotiations, reduce transaction friction, and accelerate deal execution. • Understand how strategic acquisitions, succession planning, and geographic expansion can create opportunities for sustainable firm growth. Please note: This episode was recorded before HBK announced its private equity investment. The conversation reflects HBK’s strategy at the time of recording, and we’re excited to see how the firm builds on that foundation as it enters its next chapter. Listen to the full episode of Everything CPA and Private Equity to hear Jeremy’s insights on acquisitions, leadership, and building a firm positioned for long-term success. #EverythingCPAandPrivateEquity #CPAFirmGrowth #MergersAndAcquisitions #PrivateEquity #AccountingLeadership

  4. Sep 18

    Ep 57: From Transactional Accounting to a Scalable Advisory Firm with Mark Martukovich

    What if the best time to prepare your CPA firm for a transaction is years before you ever plan to make one?   In this episode of Everything CPA and Private Equity, David Wolfskehl and Phil Whitman sit down with Mark Martukovich, CPA, of Business Advisory and Accounting Partners to discuss how he transformed a traditionally transactional CPA practice into a more predictable, scalable advisory business.    In this episode, you will be able to: • Learn how to turn informal advisory conversations into structured, repeatable service offerings • Understand how recurring advisory agreements can create more predictable revenue and cash flow • Explore why building systems that are not dependent on one partner can make a firm more scalable • Discover how predictable, profitable advisory revenue can influence the way a firm is valued in a transaction • Learn how to begin introducing advisory services without waiting for the model to be perfect   Listen to the full episode of Everything CPA and Private Equity to hear how intentional planning, recurring advisory services, and scalable systems can help build a more valuable firm before it’s time to make a deal! #EverythingCPAandPrivateEquity #CPAAdvisory #CPAFirms #PrivateEquity #FirmValue

  5. Sep 11

    EP 56: How CPA Firms Can Thrive With or Without Private Equity with Dave Kells

    Can a CPA firm remain fiercely independent and still thrive in today’s rapidly changing market? In this episode of Everything CPA and Private Equity, David Wolfskehl sits down with Dave Kells to reflect on key takeaways from BDO Evolve in Las Vegas.  In this episode, you will be able to: • Understand why both private equity and independence require intentional strategic planning • Learn how working on the business—not just in the business—can improve long-term firm performance • Identify the KPIs, data, and operational insights firms need to make better decisions • Explore how professional leadership, technology, talent, and new service lines can support sustainable growth • Discover why stronger firms have greater flexibility, negotiating power, and opportunity regardless of the path they choose   Whether your firm is exploring outside investment or committed to remaining independent, the fundamentals still matter!   #EverythingCPAandPrivateEquity #CPAProfession #FirmGrowth #AccountingLeadership #PrivateEquity

  6. Aug 21

    Ep 55: From AI Experimentation to Firmwide Transformation with Dane Boeckermann

    What does it take to keep an independent CPA firm growing while the profession is changing faster than ever?   In this episode of Everything CPA and Private Equity, Phil Whitman sits down with Dane Boeckermann, CEO of BGM, to discuss the firm’s entrepreneurial growth strategy, its succession-focused approach, and how BGM is preparing its people and clients for AI.   In this episode, you will be able to: • Learn how BGM expanded beyond traditional accounting into wealth management, trust services, investment banking, and more • Understand how private equity has influenced BGM’s strategy while maintaining a focus on future ownership and leadership • Explore how BGM is training its people to experiment with AI and build practical agents for everyday work • Discover how the firm is balancing AI-driven efficiency with people and career development • Learn how BGM plans to turn its internal AI experience into new advisory opportunities for clients   Listen to the full episode!   #EverythingCPAandPrivateEquity #CPAProfession #ArtificialIntelligence #FirmGrowth #AccountingLeadership

  7. Aug 14

    Ep 54: What CPA Firms Need to Do Now to Stay Competitive with Michael Horwitz

    What should CPA firms focus on today to stay relevant? In this episode of Everything CPA and Private Equity, Phil Whitman and David Wolfskehl sit down with Michael Horwitz of the BDO Alliance to discuss the forces reshaping the profession, from private equity and AI to growth, governance, and independence. In this episode, you will be able to: • Understand how private equity is changing firm valuations and strategic options • Learn why growth must be intentional and well planned • Explore how AI is widening the gap between firms that invest and firms that wait • Discover why relationships and governance matter more than ever • Identify what independent firms should prioritize to stay competitive   Listen to the full episode of Everything CPA and Private Equity for Michael’s perspective on where the profession is headed and how firms can prepare! #EverythingCPAandPrivateEquity #CPAProfession #AccountingLeadership #PrivateEquity #FirmGrowth

  8. Aug 8

    Ep 53: How James Moore Built a Vision That Guides Every Decision with Suzanne Forbes

    What if every decision in your firm could be measured against one clear vision?   In this episode of Everything CPA and Private Equity, Phil Whitman and David Wolfskehl sit down with Suzanne Forbes, CEO of James Moore, to discuss how the firm transformed its vision from a simple statement into the foundation for strategy, governance, recruiting, culture, and growth.    In this episode, you will be able to: • Learn how James Moore uses its vision as a filter for strategic and operational decisions • Discover why repeatedly communicating a firm’s vision is essential for partner and team alignment • Understand how governance structures evolve to support long-term firm growth • Explore how vision influences recruiting, leadership development, and client relationships • See why accountability is critical when partners or team members are not aligned with the firm’s direction   Listen to the full episode!   #EverythingCPAandPrivateEquity #CPAProfession #AccountingLeadership #FirmGrowth #FirmCulture

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About

Welcome to Everything CPA and Private Equity with Phil Whitman and David Wolfskehl, the go-to podcast for accounting professionals navigating the rapidly evolving world of private equity. Hosted by the seasoned team at Whitman Transition Advisors, this podcast breaks down complex topics, shares expert insights, and provides actionable advice to help CPA firms understand and thrive in the private equity landscape. Each episode explores critical concepts, from investment strategies to partnership models, and features candid conversations with industry leaders and special guests. Whether you’re exploring opportunities, managing transitions, or simply curious about the latest trends, this podcast delivers the knowledge you need to make informed decisions and drive your firm’s success. Tune in, subscribe, and join us as we guide you through the intersection of accounting and private equity!

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