August 20, 2019 (Bethesda, MD & Washington, DC) – Councilor, Buchanan & Mitchell, P.C. (CBM), a full-service accounting and advisory firm with offices in Bethesda, MD and Washington, DC, has been named to INSIDE Public Accounting’s list of top 300 public accounting firms, based on revenue and ongoing financial performance. This represents the first time that CBM, which ranked #245, has appeared in the industry-recognized list, reflecting a period of rapid growth for CBM over the past five years.
“CBM is proud to have been listed in the IPA list of top 300 firms,” said CBM President and Managing Partner Peter Reilly, CPA, CVA. “Over the past several years, our firm has grown significantly due to a series of acquisitions thus bringing us into the realm of firms recognized nationwide for their footprint throughout the accounting and advisory industry.”
Since 2004, CBM has merged in seven practices including, most notably, Drolet & Associates (2014), May & Barnhard (2017), May Barnhard Investments (2018) and Chaconas & Wilson (2018). The high retention level of clients and personnel during this period is a marker of CBM’s successful growth, as recognized in Reilly’s presentation, Seven Firms in Five Years: I Have a Feeling We’re Not in Kansas Anymore, which he continues to present to industry audiences.
Reilly has delivered Seven Firms in Five Years, which reflects his insights during a heightened period of M&A activity, at AICPA ENGAGE in Las Vegas and at the 2019 Rainmaker Companies SuperConference in Atlanta in in June 2019. He is scheduled to present with Board Chair Patricia Drolet on September 17 for the Greater Washington Society of CPAs, and on October 28 for the National Alliance of Auto Dealer Advisors in Fernandina Beach, Florida.
“CBM’s appearance on the INSIDE Public Accounting list reflects the impact of a successfully growing firm and it is a story we are eager to continue sharing,” said Reilly. “M&A is an ongoing reality in the accounting industry and we feel it important to share the benefits and best practices of such as complex event as mergers affect personnel, technology and operations.”
The full financial analysis of 550 public accounting firms, which is managed by the Platt Group, publisher of INSIDE Public Accounting, is scheduled to appear in a national benchmarking report in September. In addition to compiling the annual list of top accounting firms, the Platt Group also surveys and publishes reports in the areas of human resources, firm administration and information technology at accounting firms.