October 24, 2012
Jeffrey Weiner, Managing Partner, Featured in Long Island Business News Article "Long Island Firms Love Mergers"
By Claude Solnik
Accounting firms based in Long Island and the New York metropolitan area have been expanding to other regions of the country, leveraging a valuable asset beyond their balance sheet: their zip code.
While accounting firms nationwide struggle to grow during a weak economy, those based in Long Island and the New York area are finding they’re in high demand, not simply from customers, but from firms looking to merge to get into lucrative markets.
Melville-based Marcum, among the most active in geographic mergers, has grown to the 15th largest accounting firm in the nation based on revenue ($274 million), closing deals over the past year with firms in Boston, Connecticut and California.
While distance can create difficulties, accountants said it’s easier than ever to weave together a single tapestry due to technology. Marcum uses video conferencing to connect clients with many experts.
“Between transportation and technology, distances are easy to travel,” said Jeffrey Weiner, Marcum’s managing partner. “It’s easy to share resources and knowledge today.”
Click here to read the full article on LIBN.com >>