September 6, 2019

A Fresh Start

A Fresh Start

Welcome back to Thoughts of the Week! I hope you all had an enjoyable and relaxing summer. Here in the Northeast, we had lots of great beach weather in July and August. I spent as much time as I could soaking up the sunshine with my family on the East End of Long Island, and I’ll be missing the sun and waves for sure. With the evenings getting a little cooler and the back-to-school routine in full swing, there’s no mistaking it: Autumn is just around the corner. I always feel a bit of a pang as I see the first few fallen leaves. And this week, many of us dodged the wrath of Dorian. South Florida was largely spared and today, although not a direct hit, the Northeast will feel the effects, with showers off and on all day, as well as strong gusts of wind.

Still, the crispness in the air gives me a burst of energy as we move ahead with our plans for the firm. This column was on hiatus for the summer, but here at Marcum, it was a very busy time, and we continued to work as hard as ever for our clients.

One of the highlights of the past few weeks was continued merger activity in two Marcum regions. In July, the Abrix Group merged into our Midwest region, adding four partners and 22 associates. Abrix was a business management and accounting firm focused exclusively on healthcare, with deep experience in the complex organizational, business and financial needs of medical and dental practices. They are a strong addition to our national Healthcare group.

We also welcomed in OGH Certified Public Accountants & Advisors of Miami, a firm providing domestic and international tax services to clients in 10 industry sectors. OGH joined Marcum’s Southeast region in early August, adding two partners and 17 associates, along with an office in Coral Gables.

It’s all about continuing to expand the talent, expertise and resources we need to serve our clients best – and building a culture where top professionals want to stay and move ahead in their careers.

This is always top-of-mind come September, when we announce our annual promotions. Earlier this week 16 associates in 10 Marcum offices across the country were named partners of the Firm. In addition, 296 associates were promoted to more advanced positions on their respective career paths. Each and every one of these hard-working professionals truly embodies the values of our organization. They will play a crucial role in shaping the future of our Firm as we continue to evolve to meet our clients’ changing needs and in stewarding the future of the accounting industry. Kudos to all.

Having the right advisors is critical for middle-market companies in today’s complex business environment. The trade war with China shows no signs of slowing, and many of the businesses we serve are being hit with higher costs – leading them to take a fresh look at their business models. With some observers saying the trade war could fuel a recession, we’re keeping a close eye on the situation.

Meanwhile, 2020 election activity is heating up, and there’s widespread uncertainty about which policies will shape the business environment in the next few years. We’re monitoring new developments daily and making sure our clients around the country are prepared for the unexpected.

I would be remiss not to mention the havoc Hurricane Dorian wrought on the Bahamas this week – did you see those heart-wrenching pictures of the flattened homes on the Abaco Islands and the submerged runaway at the Grand Bahamas airport? The impact on local residents, not to mention the economy, is almost unimaginable.

Well, it’s good to be back from our summer hiatus. I look forward to sharing my thoughts with you again every Friday morning.