KPS & Co. Merges with Alan M. Gould & Co.; Now Serves Florida

By Frank Byrt

KPS & Company, LLC of West Hartford, Connecticut, jump-started 2013 by announcing a merger with the accounting and tax practice of Alan M. Gould & Co. of West Palm Beach, Florida, KPS’s first venture outside its home state of Connecticut.
 
KPS, founded in 1982, now has three offices, including a satellite office in Wallingford, Connecticut, and a post-merger staff of eighteen, including five in Florida.
 
Alan Gould will serve as a partner in the merged firm's West Palm Beach office conducting operations under the KPS banner. All staff members in the West Palm Beach office will be retained, and Gould’s clients will continue to be served by the same professional they have worked with in the past, KPS said in a press release.
 
KPS partner Joel Kosovsky, who is a licensed CPA in Connecticut and Florida, told AccountingWEB in an interview that he sees the merger as a growth opportunity, in particular for the cross-selling of his firm’s services beyond its accounting and tax services. 
 
Kosovsky said, “There’s not a lot of growth in this economy, so this represents good organic growth, but we'll also cross-sell our other financial services,” including those of Financial Horizon Financial Advisors LLC and Bentmore Valuation Advisors LLC, a business valuation and merger advisory affiliate. 
 
Partner succession issues at Gould also provided an impetus for KPS to seek a new relationship, Kosovsky said.  
 
While there are always a number of issues that come up after a merger, Kosovsky said the most important is “trying to keep the culture the same and for the staff to continue to deal with the same clients they used to, so [clients] don’t notice any change.”
 
As for future mergers or acquisitions, Kosovsky said his firm is always on the lookout, and now with a foothold in Florida, the firm will be looking for additional growth there.
 
“But I think the biggest opportunity is growth through cross-selling our other services. A lot of traditional firms do only A&A and tax, so we’re a little different with our two ancillary services,” he said.

You may like these other stories...

Credit Suisse says pension assets at risk unless court delays sentencingJohn Letzing of the Wall Street Journal reported on Wednesday that Credit Suisse Group AG says its management of billions of dollars in assets for...
Success, for a practitioner in a busy CPA firm, requires the ability to handle multiple tasks effectively. To get everything done, CPAs typically track their agenda with a "to do" list or other open-item systems to...
In the old days, we used to tape down receipts from our travels and submit them to accounts payable. But that was before remote employees who may live in a different city from the home office. And of course, there's all...

Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.