SWEENEY CONRAD HAS SOME EXCITING NEWS TO SHARE ABOUT OUR FIRM’S OPERATIONS AND RESOURCES!
Here's the big news:
- We are pursuing a partnership with a company called Ascend. You won’t likely recognize the name Ascend, because they aren’t a nationally branded CPA firm. Instead, they are a support company that backs independent, entrepreneurial CPA firms like Sweeney Conrad.
- Ascend currently supports 20 other Partner Firms across the United States. (We will become #21). Each of these Partner Firms operates independently in their own markets, with the same leadership team, the same employees, and the same client service they had before.
- This partnership will enable us to stay Sweeney Conrad for many years to come, that’s right, even our name is not changing!
- This is NOT a merger with a national CPA brand. This is a business partnership that allows us to remain independent; while gaining access to resources we need to serve our clients well and continue to grow.
Why are we doing this?
- The world of public accounting is experiencing rapid change. Local firms face real headwinds in recruiting top talent, navigating tech changes in our industry, and scaling our back office.
- Many local firms have chosen to sell to a large national firm. But doing so often causes disruptions in leadership and employees, loss of local decision making, changes to internal processes, etc. All of which can disrupt client service. We do not want that!
- Yet, as we continue to grow, we need a partner that will give us the resources we need to thrive without any impact on the day-to-day client service we provide.
- We’re being proactive about this so we can maintain our identity and our approach to client service.
- From a client service perspective, Sweeney Conrad service teams will remain the same and we’re excited to continuing working with all our great clients for many years to come.
What do we get by partnering with Ascend?
- Enhanced Technology – they are investing in cutting-edge tools, like AI initiatives to improve accuracy and efficiency. These types of investments are not something we could do on our own.
- Access to Talent – Ascend has a world-class recruiting team and some exciting incentive programs we can offer our team. We think this will move the needle on our ability to attract and retain great people, which will translate to an even better client experience.
- Operational Support – Ascend has centralized back-office resources that will free up our time to focus on serving our clients.
- No change in service, local roots, and team. It is important to know we are staying independent as part of this transaction. You will continue to see us as Sweeney Conrad, we will still have our office in Kirkland, and you can still expect the same great team you’ve had supporting you in the past.
We understand how important stability is, and we assure you that this partnership is designed to strengthen, not change, how we serve our clients and our local community. We truly appreciate the trust our clients have placed in us, and this new partnership is all about ensuring we continue to provide the best service possible to all our clients.
Sweeney Conrad, P.S., has restructured its business into two entities in order to operate in an arrangement commonly described as an “alternative practice structure.” These structural changes will not result in any change to your engagement team including the location of personnel or the control of your data.
Sweeney Conrad Advisors LLC, a newly formed entity, will provide all non-attest services to its clients. If Sweeney Conrad, P.S., currently performs non-attest services (e.g., tax, advisory, and consulting services) for you, those engagements will be assigned to and performed by Sweeney Conrad Advisors LLC, after the restructuring. Sweeney Conrad Advisors, which is not a licensed CPA firm, will be owned and managed by the current partners of Sweeney Conrad CPA LLP and an outside third party.
Sweeney Conrad CPA LLP, a newly formed entity, will be owned and managed by the partners of Sweeney Conrad, P.S., and provide audit and other attest services to its clients pursuant to an Administrative Services Agreement with Sweeney Conrad Advisors. Sweeney Conrad Advisors will provide professional and administrative staff, both of which are employed by Sweeney Conrad Advisors, to support performance of those engagements by Sweeney Conrad CPA LLP. These individuals will be under the direct control and supervision of Sweeney Conrad CPA LLP, which is solely responsible for the professional performance of audit and attest engagements. Any engagement letters or services agreements between you and Sweeney Conrad, P.S., for audit or other attest services will be held by Sweeney Conrad CPA LLP.
Client files will be transferred to Sweeney Conrad Advisors but will be shared with Sweeney Conrad CPA LLP as needed in connection with audit and attest engagements performed by Sweeney Conrad CPA LLP.
These structural changes will not result in any change to your engagement team including the location of personnel or the control of your data.