Former Deloitte Consulting Partners Form Consulting Practice

In the aftermath of the Sarbanes-Oxley Act of 2002, most of the nation’s largest accounting firms broke ties with their consulting practices. After Deloitte Touche Tohmatsu scrapped plans to spin off its consulting practice and rename it Braxton, a group of former Deloitte Consulting employees formed their own company, Archstone Consulting.

Archstone was formed in June but just officially hung out its shingle on Tuesday.

Based in Stamford, CT, Archstone has about 60 professional employees, half of whom once worked for Deloitte Consulting. Archstone is led by chief executive Todd Lavieri, former global lead partner of Deloitte Consulting's manufacturing practice. He left Deloitte in June after 13 years with the firm, he told Dow Jones Newswires, adding that the majority of Archstone’s senior partners were former Deloitte employees.

The firm plans to focus on customers in the manufacturing, consumer packaged goods, life sciences and business and consumer services sectors.

Archstone will also provide services to customers who are hesitant to purchase new IT systems by helping them retool existing systems to optimize performance. "There's an opportunity in this market where clients are frustrated because they don't need large-scale integration projects," Lavieri told Dow Jones. "They just need to optimize projects they've already started."

According to Dow Jones, Archstone has received private-equity backing from Lake Capital, a firm with offices in Chicago and London. Deloitte Consulting is being absorbed back into its parent firm.

You may like these other stories...

Accountants without a succession plan are hurting not only themselves but their clients as well. Here are seven ways to see your practice continues after you retire—some of them are better than others.What Are Your...
In my last article, I discussed the model of value pricing and the benefits this billing structure offers you and your clients. However, in order to set up the right value pricing for your client, you need to know what...
Remember the old joke about the devil showing a guy around Hell? There were great parties, swimming pools, and sumptuous food. The guy liked what he saw, lived a bad life and went to Hell when he died. Upon arrival the devil...

Already a member? log in here.

Upcoming CPE Webinars

Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 10
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.