Who could have predicted that 2021 would test everyone’s fortitude, resolve, and resilience at such a profound level? Twelve months ago, as we bid our heartfelt farewell and good riddance to 2020, none of us could have imagined that COVID would continue to shape our lives and our businesses for another year. It is a testament to the indomitable strength and entrepreneurial spirit of our clients and our team that I am able to report so many achievements during what was clearly one of the most challenging years any of us has ever faced. Thanks to you, 2021 turned out to be a period of innovation and growth for Marcum that enabled us to continue refining the ways we work to deliver unparalleled client experiences. On behalf of the entire Marcum team, thank you for that opportunity, for your ongoing trust in us, and for your business. Please enjoy these highlights from our work together over the past 12 months.
Jeffrey M. Weiner
Marcum never stops growing. In 2021, our client service capabilities expanded with two mergers.
In May, our national Financial Accounting & Advisory Services (FAAS) practice, based in Boston, integrated Starter-Fluid, LLC, a firm specializing in CFO-led services. This merger broadened our portfolio of outsourced finance, accounting, and executive support services focused on helping early-stage and rapidly growing companies scale successfully.
In December, we expanded our Midwest footprint into St. Louis with the addition of BWTP, P.C. BWTP brings to Marcum additional bandwidth in several industry groups, including construction, dental, manufacturing and distribution, medical, nonprofit, and real estate. Further, Marcum's Transaction Advisory Group expanded with the addition of BWTP Transition Solutions, LLC, which provides merger and acquisition services to dental practices.
Our specialized industry groups achieved new heights of activity in 2021 as we partnered with our clients to help you navigate the COVID economy and prepare for new tax regulations – with several experiencing double-digit growth.
| INDUSTRY GROUP | GROWTH % |
|---|---|
| Capital Markets | 61.57% |
| Energy & Resources | 26.28% |
| Alternative Investments | 19.37% |
| Cannabis | 15.29% |
| INDUSTRY GROUP | GROWTH % |
|---|---|
| Construction | 15.11% |
| Technology & Life Sciences | 11.19% |
| Retail & Consumer Products | 10.80% |
| Food & Beverage | 10.55% |
YOUR SUCCESS IS OUR PURPOSE. A new set of client service standards, underpinning the Marcum Client Experience initiative, launched in 2021 and articulates what our clients can expect from Marcum:
Marcum is deeply committed to fostering a culture that is both diverse and inclusive, and an environment where all associates see a clear path to leadership. Our DEI initiative delivered a robust program of events, trainings, team-building activities and talent development in 2021.
Marcum U’s empowering training curriculum spans the career of every Marcum professional. In 2021, more than 500 Marcum U courses engaged over 42,000 participants, delivering in excess of 82,000 hours of CPE credit.
| ESSENTIAL PROFESSIONAL SKILLS | |
|---|---|
| Courses offered | 65 |
| Sessions offered | 132 |
| Passed participants | 5,334 |
| CPE credit hours awarded | 11,133.50 |
| TECHNICAL SKILLS | |
|---|---|
| Courses offered | 453 |
| Sessions offered | 492 |
| Passed participants | 36,704 |
| CPE credit hours awarded | 71,193.50 |
Marcum Foundation strives to be a leading contributor of time and funding to organizations offering fundamental human services to children in our local communities. Thanks to the generosity of Marcum associates, partners, clients, and friends, Marcum Foundation was able to celebrate these successes in 2021:
The increasing complexity of the world in which we live and work today demands sound, strategic advice and pragmatic, industry-focused insights. Never has the challenge been greater, as the effects of the COVID pandemic continue to linger and the legislative environment in Washington continues to confound. As we close the books on 2021 and face forward, our priority remains squarely on partnering with you to help you become more successful, bringing you the intelligence and resources to make the hard decisions that will get you to your goals. Your Marcum team is at the ready, any time, every time you need us.
