Marcum-Hofstra University CEO Survey
A periodic gauge of middle-market CEOs’ outlook on the current business environment and their priorities and concerns for the next 12 months.
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2023
Marcum Year in Review
From Our Chairman & CEO
As the U.S. economy outperformed expectations in 2023, businesses proved their resilience and vitality.
The recovery was fueled by robust consumer spending and a gradual easing of supply chain bottlenecks. Unemployment remained at a historic low, interest rates peaked, and businesses adapted to the changing market dynamics.
Inflation, while high, showed signs of improvement, and the Fed’s steep rate hikes came to a halt while signaling the start of a return to lower rates early this year. Yet, this past year was not without challenges.
The commercial real estate sector faced headwinds, and the regional banking disruption led to slower loan growth. The housing market had to find its footing again, and the U.S. lost its AAA rating with Fitch due to the debt ceiling episode.
However, in true entrepreneurial spirit, our clients navigated these difficulties and capitalized on emerging opportunities.
We are proud to have supported you on this journey and look forward to continuing to work with you. Your success is our success, and it’s an honor to celebrate our collective achievements in 2023 as we look forward to a fruitful future together.
Jeffrey M. Weiner
Chairman & CEO
Marcum’s Growth and Enhanced Client Service
We leaped up the ranks to be named the 13th largest accounting firm in the country (cheers to Accounting Today), rolled out the welcome mat for hundreds of new employees, and expanded our operations through two successful mergers. We’re not just growing; we’re evolving, bringing more depth and broader knowledge to our clients.
We kicked off 2023 by joining forces with Melanson, P.C., a New Hampshire-based accounting firm. With a team of nearly 115 partners and associates, these professionals are known for their experience serving clients in the government and nonprofit sectors. Our Chairman and CEO nailed it when he said, “The Melanson team is highly regarded for their leadership, commitment to superior client service, and dedication to the highest industry standards.”
Then, in June, we expanded our premier construction practice in the Mid-Atlantic by bringing in McCarthy & Company. Construction Executive recognized this Pennsylvania-based full-service tax and accounting firm as a Top 50 Accounting Firm. This strategic merger added two new regional offices and 70 partners and associates who not only get the local market but are laser-focused on delivering top-notch client service.
Client Experience
In 2023, we were thrilled to discover that an overwhelming majority of our clients who participated in our client feedback initiatives gave us a resounding vote of confidence. We’re not resting on our laurels; we’re relentlessly refining our services to keep those satisfaction levels sky-high. Here are some of the highlights from our client surveys:
- 100% of clients interviewed say they enjoy their relationships with us.
- 98% say Marcum delivers high-quality, error-free work.
- 97% rank Marcum’s understanding of their business and industry as exceeding expectations.
- 96% believe we do an excellent job earning and maintaining their trust.
- 95% feel we genuinely care about them and their experience with our firm.
- 93% appreciate how well we communicate and keep them informed.
We Hope to See You
Our marquee events were bigger than ever this year!
Amid the hustle and bustle of activities, nothing quite beats the joy of mingling with our clients and friends face-to-face. We organized events to deliver the latest regulatory updates, industry insights, and strategic planning acumen (and even threw in some epic celebrations for good measure). Whether online or in person, we’re bringing the Marcum experience to you. And you know what? We wouldn’t have it any other way.
Cutting-Edge Insights & Pioneering Perspectives
Marcum isn’t just keeping pace with the industry — we’re setting the tempo. Our vast arsenal of newsletters, technical articles, and regulatory updates are just the tip of the iceberg. We regularly lend our razor-sharp insights to trade journals in our client’s industries and the mainstream press, ensuring we’re not just part of the conversation but driving it.
275+
INSIGHTS
200+
MEDIA INTERVIEWS AND BYLINES
Industry Innovation
We don’t only crunch numbers—we dive headfirst into the deep end of industry research, immersing ourselves in the diverse sectors we serve. Equipped with this deep-seated understanding, we offer the kind of insights that can only come from truly getting your industry.
2023 Best Places to Work
IN THE VAULT
In the highly competitive landscape of our industry, Marcum landed a spot in the coveted Vault Accounting 25 — a list that’s basically the Oscars of accounting firms. We’re committed to fostering careers, igniting growth, and cultivating a workplace culture that’s second to none. Our focus? Initiatives that do more than enhance careers – they transform them. Because at Marcum, we’re not only building a team; we’re shaping the future of accounting.
- No. 13 Overall
- No. 13 in Prestige
- Top 20 rankings across the Practice Area, Quality of Life, and Diversity categories
Diversity, Equity & Inclusion
At Marcum, DEI is not a box we check but a strategic imperative. It flows from the core of our brand promise to our team and clients. It’s at the center of workplace culture and is why we are stronger today than ever.
2023 highlights
- Ranked #44 in the nation across all industries in the Vault 2024 Best Internships for Racial & Ethnic Diversity
- Held 10 Firm-wide ARG events with an average of 93 people in attendance
- Launched our I Count! campaign and added two new demographics: gender identity and sexual orientation
- Started our monthly newsletter series (October had our highest open rate!)
- Increased the number of members across all ARGs with the addition of an ARG Interest Form and by empowering all members to add their ARGs as professional affiliations in Workday
- Sponsored and attended five events: ALPFA National Convention, NABA DC Regional Conference, Out & Equal, Ascend National Convention, and AICPA Diversity Symposium
Marcum U – Head of the Class
In 2023, Marcum U served up a whopping 720 courses in continuing professional education, technical training, and soft skills training. The result? More than 141,000 plus hours of CPE credit.
| ESSENTIAL PROFESSIONAL SKILLS | |
|---|---|
| Courses Offered | 136 |
| CPE Credit Hours Awarded | 28,020 |
| TECHNICAL SKILLS | |
|---|---|
| Courses Offered | 586 |
| CPE Credit Hours Awarded | 113,807 |
Technology Consulting Redefined
A lot of technology consultants talk about “navigating the tech space.” Marcum Technology takes it a step further – we’re innovating within it. By developing and sharing our advanced tech solutions with clients and even our fellow accounting firms, we’re elevating the collective experience for everyone. From strategic consulting to enterprise solutions spanning cybersecurity, infrastructure, automation, and managed services, we’re revolutionizing professional services where business meets technology. Our endgame? Helping clients deliver a customer experience that’s not just personalized and seamless but a total game-changer.
2023 highlights
- Launched Financial Planning & Analysis practice
- Launched Close Management practice
- Introduced Intelligent Prism, an automated data analytics service
- Named Sage Intacct Top 20 Partner of the Year
- Honored on Accounting Today’s VAR Top 25
- Created the innovative AI productivity tool, AskMarcum.ai
Community Giving
As we look back on 2023 and cast our eyes to the future, we celebrate Marcum Foundation’s unwavering commitment to enhancing the lives of children globally. We remember a year filled with impactful donations, a spirit of unity, and a deep-rooted passion for bettering our communities for the younger generations.
2023 highlights
- Donated $54,000 to UNICEF to help children and families recover from the devastating earthquake in Syria and Turkey.
- Raised $1.4 million for St. Jude Children’s Research Hospital through our Hope in the Hamptons Gala, St. Jude Walk/Run, and other initiatives.
- Contributed $150,000 to the Children of Fallen Patriots Foundation.
- Launched our new partnership with the American Heart Association’s Kids Heart Challenge with a $214,000 contribution.
- Donated $100,000 to organizations supporting children affected by the Israel-Gaza conflict.
Fast Facts
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OFFICES
4100+
SERVICE PROFESSIONALS
550+
PARTNERS
1200+
NEW ASSOCIATES
Charging into 2024
In a world that’s only getting more complex, you need advice that’s not just sound but downright strategic and insights that aren’t just pragmatic but laser-focused on your industry. As we rocket into 2024 and beyond, our top priority is you. We’re committed to partnering with you, helping you crush your goals and define success on your terms. Need to make some tough decisions? We’ve got the intelligence and resources to help you make the right call. Your Marcum team? We’re on standby, ready to jump into action whenever you need us, propelling you toward a future defined by triumphs and success.