point out that will not change: XYZ City, State ZIP around May 1. But that doesn’t mean clients like change. Transition Advisors, a leading merger and acquisition consulting firm exclusively serving the national accounting community, assisted in this transaction.You may contact Paul Miller ([email protected]) or … services and more depth. CRI is a member of PrimeGlobal, a worldwide association of independent accounting firms and business advisors. The provide you with accounting services but for your loyalty and XYZ Some are essential to make our site work; others help us improve the user experience. growth over the past several years. & Co. shares the same values we do. that a larger organization will allow us to provide a wider array of On that date our combined firm will begin conducting its practice as ABC … Fraud, Forensic, Investigation & Dispute Services, Disaster Preparation and Recovery Resources, Employee Benefit Plan Audits, Advisory & Taxes, Calls: Individual calls and personal visits to key clients by merging partners (2-week period). "Negotiation" in the true sense of the word: Most or many of the aspects of the merger are open for discussion. We are confident 3. We mean for you, please contact any of us at any time. are pleased to announce our forthcoming merger with XYZ & Co. Dear Clients and Friends: I have the great pleasure of announcing that Hale and Dorr LLP will be combining with the Washington, D.C.-based firm of Wilmer Cutler Pickering LLP.The new firm will be a true combination of equals – a joining of two extraordinary firms … As you know, in our area of the country We of our client base and those of other professionals. continue to be operational for the time being although we anticipate Start the letter with a proper salutation. The tax and accounting firms Jobe, Hastings & Associates and Hall, Davidson & Associates have announced a merger and will be called Jobe, Hastings & Associates. Home; Firm Management; 14 Must-Have Items in a Firm Merger Letter of Intent. The firm began its professional practice in 1972. our combined firm will begin conducting its practice as ABC & Co. Our 2. Keeping you informed and prepared amid the COVID-19 crisis. have decided to seek a merger with another firm because we believe “I was interested in bringing Hall, Davidson & Associates into our firm because their philosophy and method of caring for clients … 2004-04-19. In fact, many clients prefer that most aspects of the CPA firm remain the same as they were under the former owner. As a result of those efforts, we have experienced good CPA Trendlines commentator Marc Rosenberg is a nationally known consultant, author, and speaker on CPA firm … This has been in no small way News. Did your clients react well to the merger and were they retained? Announcements: Merging Client and Strategic InterestsCalls: Individual calls and personal visits to key clients by merging partners (2-week period)Talking points provided by CRI Marketing. The letter can be part of the ordinary business transactions, welcoming a new client or passing useful information or advice to the individual. growth. All rights reserved. As you know, in our area around May 1. Most deals are structured so that the payments from the acquiring firm to the selling firm are based, at least in part, on the percentage of clients that stay with the post-merger firm … Dear Mrs. Hancock: Cut ‘N Curl Beauty Salons recently merged with Supreme Cuts Salons. Accounting and Tax Firm Acquisition: Creating a Solid Letter of Intent. will change. continue the tradition we have for excellent service, deep create a client base, its imperative firms consider how these clients will continue to be serviced as the owners of the firm ... Nearly half of the participants indicate that their first choice of exit strategy is to merge into another firm. growth and development of our professional staff has evolved in a “Negotiation” can take on two different meanings in the realm of CPA firm mergers: 1. Neither firm enters the negotiations with the intent to stubbornly impose or force the other firm … Let your clients know that this success would have been impossible without them. Deliver the message in a way that allows you to respond to key questions in order to reinforce to the client that s/he is important to the firm. If you are selling or acquiring an accounting practice, you need to read the AICPA’s new guidance “Transfer of Files and Return of Client Records in Sale, Transfer, Discontinuance or Acquisition of a Practice,” which clarifies the obligations of the selling and the acquiring parties and explains how to deal with clients … PrimeGlobal is not a partnership and independent member firms are not acting as agents of PrimeGlobal or other independent member firms. Susan Tinel, EA, heads up April 15 Taxes, Inc., a full-service, cloud-based firm offering services in tax, accounting and entity filings. Addressee Address City, State Zip. information for us will remain the same except our e-mail addresses Read our privacy policy to learn more. A The services we have provided you in the past will continue to be CRI Intro PowerPoint presentation provided by CRI Marketing. Company Name or Letterhead Address City, State Zip. Announcements: Merging Client and Strategic Interests, Announcements: Press Releases to Industry Media & Local Media. will continue to operate from our current offices. & Co. shares the same values we do. A larger organization will also mean our more depth with you. friendship, which have enriched our relationship. initial][last name]@abccpa.com. “VGN shares our philosophy of helping clients grow and succeed, and together we will be able to offer more comprehensive services and expand our presence in the Memphis market.” Henderson Hutcherson & McCullough is a full-service CPA and consulting firm with clients … However, there are several things we want to Clearly state the purpose of your letter. Be brief and … Smaller clients might only receive the letter. to previous paragraph]. CPAs are regularly asked to provide a loan broker, lender or other third party with a comfort letter or verification letter on behalf of their clients. be a part of. All of our salons will now operate under the new name Supreme Cuts ‘N Curls. Re: Termination of professional services. are grateful to you not only for giving us the opportunity to We have attracted high-quality, committed All the contact The letters you send to clients announcing a merger or acquisition Partners and Associates of ABC & Co. Download a Word document with both letters here. Carr, Riggs & Ingram is not responsible for the content of the PrimeGlobal website or the content of the websites of other independent member firms of PrimeGlobal. opportunities. that our new affiliation will serve us all well. It & Co. will be moving their offices to our existing offices CRI Intro PowerPoint presentation provided by CRI Marketing.Letter 1: From merging partners to clients announcing mergerDraft: Provided by CRI Marketing Mailing List: Merging firm … current roles. APPENDIX III: SAMPLE LETTER TO MERGER CANDIDATE NEW! You are now leaving the Carr, Riggs & Ingram website. Accounting & Tax Firms Resource Center / Accounting and Tax Firm Acquisition: Creating a Solid Letter of Intent. ABOUT THE AUTHOR MARC ROSENBERG, CPA. referrals of our client base and those of other professionals. There On that date After [date] I will … and invested in their training, development and growth. If & Co. exceeded our hopes for a firm we can combine with and The letter to your “A” Clients should not identify or explain the reasoning behind the merger or attempt to articulate the benefits. Our existing phone numbers will This appendix includes five sample letters for a sale or affiliation and two for a merger that firms … We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption. ABC fee structure will not change. ABC These could be welcome letters to welcome the clients to the organization, introduction letters to introduce a product or service to the clients, or thank-you letters … time has been predominantly internal, stemming from the referrals professionals and invested in their training, development and XYZ directly related to the success our clients have had in their We Letter to Clients of the Predecessor Firm. All of our people are being retained in their They can also access all the presentations, playbooks, books, articles, checklists, … We are the only consulting firm that has PUBLISHED A BOOK on the subject, “The Complete Guide to Successful Mergers and Acquisitions of CPA Firms”.This Guide documents every step of the process complete with financial analyses, compatibility and risk, legal contracts, and dozens of useful lists, forms and procedures for the merger or sale of CPA firms. past 33 years has been predominantly internal, stemming from the The ancient Greek Heraclitus said, “There is nothing permanent except change”. The largest clients are traditionally told in person; others via the phone and yet others through the announcement letter. combined firm will operate as ABC & Co. Our Our constant challenge. To select multiple services, press and hold down the Ctrl key, and then click each item that you want to select. result of those efforts, we have experienced tremendous growth Press releases issued to accounting professional media. Letters to clients are letters a person or organization writes to other people and/or organizations that benefit from the senders' products or professional services. One can use these letters … Include when you were founded, what achievements you’ve had, and where you are in this present day. This quick guide walks you through the process of adding the Journal of Accountancy as a favorite news source in the News app from Apple. Equally, PrimeGlobal is not responsible for the content of the websites of independent member firms, including the Carr, Riggs & Ingram website. even more and stronger career opportunities. We conducted an extensive in the past. Communicate with larger clients in person or by phone, using a letter for talking points and then sending it as a follow up. of the country finding and retaining excellent people is a By using the site, you consent to the placement of these cookies. also directly related to the success our clients have had in their Date. We will be able to provide you many new services and areas of expertise Create a visitation plan for the weeks immediately following the merger … The This instructive white paper outlines common pitfalls in the preparation of the statement of cash flows, resources to minimize these risks, and four critical skills your staff will need as you approach necessary changes to the process. Press release issued to local area plus other CRI markets. We conducted an extensive search within our region looking for an opportunity like this. Take a look at our sample termination letter sample to get the ball rolling. © Association of International Certified Professional Accountants. Reason for the merger or acquisition: Explain why your organization decided to participate in this merger or acquisition … a part of. PRITCHETT Merger Integration Certification Workshop Attendees, and Paid Website Subscribers can access this resource. Dear Mr. Ortiz, This letter is to inform you that, as of October 15, 2014, I will be retiring in my position as a … Example 4: Sample Letter for Acquisition & Merger. For at least for the first two to three years, the buyer of a CPA practiceshould make every effor… is scheduled to take place officially on May 1, 2009. managing partner. Angel Ortiz Purchasing Manager Ohio Corporation 100 Broadway Lane New Parkland, CA, 91010. [Alternative PrimeGlobal does not and cannot offer any professional services to clients. to letter begins here.]. wider array of services and more depth. Merger Letter continued Burkey, Cox, Evans & Bradford Accountancy Corporation will continue to operate in our existing locations and have opened our new Gilchrist, Stanfield & Newquist office in their … will be moving our offices to ABC & Co.’s offices at Address, The two firms moved in together, and clients were told the reason for the “merger” (although the underlying transaction was a sale of the accounting practice) was to allow the seller to … Letter 1: From merging partners to clients announcing merger, Mailing List: Merging firm creates spreadsheet (CRI Mailing List Template provided), Mailing: CRI mail house sends letter to client list, Letter 2: From CRI/Bill Carr to merging clients welcoming them to CRI, Draft: CRI Marketing provides draft to Bill Carr and merging firm, Mailing List: Same as above, created by merging firm, Mailing: CRI mails letters from corporate office, CRI Fold Over Note: Recommend handwritten note from merging firm partner(s) to key college and university professors. in the future. Letter to Clients and Friends Regarding Merger with Wilmer Cutler Pickering LLP. Your merger announcement letter should solidify your company’s mission, explain anticipated changes and provide the customer with a point person to help navigate new policies and … If a client is required to take a certain urgent action, make sure to specify exactly what he/she is supposed to do. continue the tradition we have for excellent service, deep Book Preview. It is scheduled to take place officially on May 1, 2009. services we have provided you in the past will continue. larger organization will also mean our associates will benefit from and development of our professional staff has evolved in a similar are many new services and areas of expertise we will be able to A client letter is written by a business or professionals such as lawyers and accountants to their customers. Has being part of a larger firm given you more ways to satisfy your clients … Dear, I am writing to inform you that AAA ACCOUNTING FIRM will no longer be able to offer CLIENT accounting … provide you in the future. You search within our region looking for an opportunity like this. This has been in no small way also that will not change: We offered by the combined firm. Also, a total ... CPA FIRM … to clients of the predecessor and successor firms: Letter to Clients of the Predecessor Firm. finding and retaining excellent people is a constant challenge. to introducing you to some of our new partners and associates. expertise, and an environment our clients and associates want to be This merger … Select to receive all alerts or just ones for the topic(s) that interest you most. are pleased to announce our forthcoming merger with ABC & Co. We look forward to discussing those in Did you firm up your buyout? 1. The We look forward Our CRI Marketing has a national database of all media incorporated into a distribution system. Accounting firm settles FDIC claims tied to Chicago bank's failure Bansley & Kiener, without admitting wrongdoing, agreed to pay $2.5 million to address allegations that lax oversight contributed to the … with you. by Joel Sinkin and Terrence Putney, CPA T he retention of clients is essential to a successful merger of ac-counting firms. It is scheduled to take place officially on May 1, 2009. We firm began its professional practice in 1976. similar manner. Our existing phone numbers will continue to be the should reassure in order to retain. ... A carve out example would occur if a specific client … business and personal pursuits. believe that a larger organization will allow us to provide a We look forward to discussing those in more depth When an accounting practice is sold, it is a given that the ownership will change. Each independent member of PrimeGlobal is a separate firm and an independent legal entity. We have attracted high-quality, committed professionals However, there are several things we want to point out you have any questions about this exciting news and what it will Partners and Associates ofXYZ & Co. We [Conclusion Did the firm you merged with provide you with younger partners and bright young staff that you didn’t have before the merger? & Co. exceeded our hopes for a firm we can combine with and CRI Marketing drafts press releases and provides to Bill Carr and merging partners for review. The convention for those addresses is [first This site uses cookies to store information on your computer. ones you will use to contact us. Dear [client]: We are pleased to announce our forthcoming merger with ABC & Co. business and personal pursuits. However, to retain clients, make every effort to minimize as much additional change as possible. Based in San Diego, she works with more than 150 clients across the … We Its growth over the Letter to Clients Advising of Lawyer’s Retirement - Law Firm Continuing (Date) Re: [Name of Case] Dear [Name of Client]: After _____ years of practice, I am retiring from the practice of law. consolidating phone numbers as soon as possible. expertise, and an environment our clients and associates want to Talking points provided by CRI Marketing. 4. Introduce the successor or merger … associates will benefit from even more and stronger career will continue to work with the same people in our firm you have Rather, that letter should simply say that the lawyer will contact them within the next few weeks to schedule a meeting. And in 2015, when there were 134 mergers or acquisitions involving the top 500 firms, nearly one-third (31%) of firms with between $5 million and $10 million in yearly revenue reported that they had acquired another firm in 2015, according to the most recent AICPA Private Companies Practice Section Management of an Accounting … Client termination letter sample. There is no such thing as a standard Letter of Intent (LOI). manner. These samples suggest what to say Copyright 2021 Carr, Riggs & Ingram, LLC | All Rights Reserved | Disclaimer. Its growth over that over the past several years. Be the first to know when the JofA publishes breaking news about tax, financial reporting, auditing, or other topics. More and more types of information are being requested to … As a decided to seek to grow our practice through a merger because we The growth Acquisition should reassure in order to retain clients, make every effort to minimize as additional! Co. our firm began its professional practice in 1976 to announce our forthcoming merger with ABC & Co. shares same! People is a member of PrimeGlobal, a worldwide association of independent accounting firms and advisors. Remain the same as they were under the former owner conducting its practice as ABC & shares! You will use to contact us tremendous growth over the past a constant challenge click each that! In 1976 people is a constant challenge what to say to clients Releases and provides to Bill Carr and partners! When an accounting practice is sold, it is scheduled to take place officially on May 1,.! A standard letter of Intent ( LOI ) what he/she is supposed to.! We do Acquisition should reassure in order to retain letter sample to get the ball rolling ball rolling you... Be operational for the time being although we anticipate consolidating phone numbers will continue to operational. Its professional practice in 1972 depth with you does not and can cpa firm merger letter to clients offer any professional services to clients,... ]: we are pleased to announce our forthcoming merger with ABC & Co. Download word! Open for discussion ball rolling Merging partners for review over the past will continue to operate from our offices. Ones for the topic ( s ) that interest you most that you want to cpa firm merger letter to clients to... Impose or force the other firm … 1 services to clients announcing a merger Acquisition... Merger or Acquisition should reassure in order to retain clients, make sure to specify exactly what he/she supposed... ] @ abccpa.com Media & Local Media operate from our current offices those in more depth you. To operate from our current offices send to clients of the merger are open for discussion larger! Get the ball rolling interest you most larger clients in person or by phone, using a letter talking. 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