Independent by Choice: Why Moore Colson Remains an Independent Accounting and Advisory Firm

According to CPA Trendlines’ CPA PE Deal Tracker, just over half of the nation’s top 30 accounting firms have now taken on outside capital, and only five firms ranked between the sixth- and 26th-largest remain independent. The trend holds at scale: roughly half of the top 50 largest firms have taken outside investment, and even at the 100-firm mark, 29 firms now carry some form of institutional or private equity backing. Altogether, the tracker has logged more than 500 such deals, most of them in just the last three years (CPA Trendlines). This pace does not appear to be slowing down.

I recently spoke with the Atlanta Business Chronicle about this wave of consolidation hitting the accounting industry. That conversation is a natural jumping-off point for something I’ve wanted to write about: what staying independent actually means for our firm, our clients and our people.

At Moore Colson, we met as a partner group several years ago and asked ourselves a direct question: is outside investment the right path for us? We decided to remain independent.  We’ve never merged with another firm, been acquired, or taken on outside capital, and here’s what that decision has made possible for our team and the clients we serve.

Culture Built on Stability

Because we haven’t taken on outside investment, our capital comes entirely from our own results, with no outside return timeline attached to it. That gives us room to create a stable and consistent culture for our team. We help build lasting careers and make decisions about the firm on our own terms with our people and clients in mind.

Our corporate model is part of our culture, and we structure compensation around the firm’s collective performance, not individual books of business. That means our people work across multiple industries  with multiple teams from the start of their careers, rather than being tied to one partner’s book of business. This has created an environment where collaboration and shared success are just the norm.

Over the past few years, we have welcomed several clients who came to us looking for something different. What they consistently tell us they value most is a high level of service and advice from people who understand their business. Staying independent is part of how we have been able to stay focused on delivering on both.

Meeting Our People Where They Are

While the accounting profession contends with a talent shortage, we’re building a culture designed to attract and retain top talent. We back that commitment with structured training and support at every level.

GROW™ (Growth, Resources and Opportunities for Women) connects women across our firm and gives them a platform to support their careers together. ASPIRE, our Leadership Academy, is developing the next generation of Moore Colson leaders. Our internal training program, Moore Colson University, brings outside speakers and hands-on workshops to our whole team. Our internship program gives students real exposure to the profession and to our firm long before graduation.

We have also welcomed several team members over the past few years who were looking for a firm where culture and career development come first. We can build these programs, or change them, because we decide what is right for our people.

A Team of Partners

Our partners sit in the same seat as our clients because we are business owners too. We deal with many of the same issues our clients deal with, and the answers we give them come from problems we have actually faced and worked through ourselves. That perspective works because our partners work together as one team. We share clients, expertise and decisions across the firm. That collaboration is how decisions get made, from client service to firm strategy. It is a structure we have been free to build and protect.

Service Beyond the Balance Sheet

Culture also shows up in how we spend our time outside of client work. Each year, our Day of Impact brings our entire team together to pause from the everyday and focus on an important part of who we are: giving back. Our team has volunteered with organizations across Metro Atlanta, including Habitat for Humanity, the Atlanta Community Food Bank and the Center for Family Resources, among many others. These service opportunities reflect a firm with the room to prioritize community involvement as part of who we are. We have that room because our time and resources get allocated based on our own values.

Why Independence Is Becoming More Unique

Five years ago, independence was not really a term people used to describe firms like ours. It was simply the standard. Today it is becoming the exception, as more firms take on outside capital. We think that shift matters, for the people who choose to build a career here and for the clients who choose to work with us.

We are proud to be independent and proud of what that independence has let us build. We hope this difference is something you can feel whether you work with us or simply know us.

About the Author

Andy Starnes, CPA, is the Managing Partner at Moore Colson, responsible for setting the firm’s vision and strategy. He also advises closely-held businesses, business owners, entrepreneurs, corporate executives and private equity funds on federal and state tax planning.