Spotlight on: William Burns, Tax Office Managing Partner, BDO

By Yolanda Rivas

2 min read JULY 2019 — Accountants and financial professionals play an important role in the global economy and business model, taking on an array of roles within organizations in all industries. According to the Bureau of Labor Statistics the employment of accountants and auditors is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations. 

Accountants can bring a significant perspective of the economy and industries growth. Our ‘Spotlight on’ for this week brings a perspective of what are the industries looking for in regards to advisory and how the local accounting companies impact the labor pool.

BDO offers a wide range of services including advisory, audit/assurance and tax services. Which are most in demand in Philadelphia?  

The core services that we provide in Philadelphia are audit and tax, which is where we are seeing the most demand. Our recent acquisition of AC Lordi will allow us to bolster what we can do regarding advisory and scale us up to the next level. We have seen an increase in demand for our services from healthcare, life sciences, and manufacturing and distribution. In addition, we have seen an influx of people reaching out for advice regarding maximizing the benefits of tax reform. We expect to see an increased demand for advisory services related to tax reform, especially surrounding Opportunity Zones.

What are BDO’s efforts to recruit talent from the local pool?

Six years ago, BDO merged a select group of geographically close practices, retiring a number of partners and ushering in a new class. We now find ourselves in a position where we can grow exponentially in one of the largest markets in the country. Our focus on targeted growth means we are constantly adding talent as we look to expanding our tax specialties.

There is always a hunt for qualified talent. To combat that, we try to over-hire at the entry level. Turnover in our industry is relatively high and by attracting more students at the front end we have more opportunity to offer them higher positions when people decide to leave. We have partnerships with local universities and we recruit on a regional and national level. We also have a program to identify and attract students to the region from all over the nation.

What Impact does technology have on the accounting and financial sectors?

Technology has a huge impact on how we operate, since most of what we do is software driven. Data analytics is making us more efficient and many firms are using it as a tool within their audit and tax practices. Those firms that aren’t focused on using and developing technology are going to lag behind.

To learn more about our interviewee, visit:

https://www.bdo.com/about/us-locations/philadelphia-office 

Philly braved the rain to make Invest: Philadelphia’s inaugural launch conference a huge success!

January 25, 2019
FOR IMMEDIATE RELEASE

Philadelphia, PA – Philadelphia was the star of the show at the Invest: Philadelphia launch conference. Covering topics like healthcare, education and innovation, the standing room-only crowd was enrapt throughout the entire event. The 2019 edition, which debuted at the inaugural launch event on January 24, 2019, highlights the five-county region of Greater Philadelphia, including Philadelphia, Montgomery, Bucks, Delaware and Chester counties, with special focus chapters on the City of Chester and the dynamic neighborhoods in the City of Philadelphia. The launch conference took place at the Loews Philadelphia Hotel in Center City with over 300 people in attendance.

Following a short networking breakfast, the program began with an insightful keynote speech by Director of Commerce Harold Epps, who highlighted Philadelphia as a City on the Rise that has an abundance of offerings for talent and businesses alike. “Our economic success is all the more reason for Philadelphia to double down and keep moving forward,” said Epps.

Capital Analytics then hosted three in-depth discussion panels that focused on key topics related to the area’s dynamic growth and economy.

The first panel discussed Philadelphia’s leading healthcare industry. The panel was moderated by Susanne Svizeny of Wells Fargo, and panelists were Jack Lynch from Main Line Health, Jay Feldstein from Philadelphia College of Osteopathic Medicine, Larry Kaiser from Temple University Health System and Lauren Murdza from DLA Piper. Jack Lynch discussed the importance of collaboration between healthcare institutions, providers and payers. Jay Feldstein discussed the challenges and opportunities of being a graduate medical school. Lauren Murdza discussed private equity groups’ involvement in the healthcare space, and Larry Kaiser talked about making sure healthcare is accessible to all.

The second panel was centered on higher education in Philadelphia. The panel was moderated by Capital Analytics’ very own Abby Melone, and panelists were Craig Carnaroli from the University of Pennsylvania, Michael Mittelman from Salus University and Guy Generals from the Community College of Philadelphia. All of the panelists addressed the growing issue of student debt and the accessibility of higher education. Craig Carnaroli talked about Penn’s involvement in the community. Michael Mittelman discussed the importance of making sure students are ready to join the workforce directly after graduation, and Guy Generals spoke to the importance of switching the mindset of education to a K-16 focus.

 

The third and final panel focused on innovation across all industries. The panel was moderated by Mathieu Shapiro of Obermayer, and panelists were Tricia Marts of Veolia, Atif Ghauri of Mazars, John Giordano of Archer Law and Terry Booker of Independence Blue Cross. “I was able to walk from my office in Centre Square all the way to the event underground. If anyone from SEPTA is here, that is truly innovation at its finest,” moderator Mathieu Shapiro mused as he kicked off the panel.

Tricia Marts revealed that through Veolia’s partnership with Penn, they have accomplished the equivalent of taking 75,000 cars off the road. Terry Booker spoke to Independence Blue Cross’ partnership with Comcast and its focus on human-centered innovation. John Giordano discussed the innovation he sees in the clients he works with, while Atif Ghauri spoke about the importance of innovation in tech and cybersecurity. “The key term is pace, and the pace of innovation is now,” said Ghauri.

The event was attended by high-level guests and officials from some of Philadelphia’s key industries and economic institutions. Attendees were engaged, high energy and excited despite the bad weather. The house was still full at the end of the event.

“The panels were engaging and educational. This was a wonderful event,” Kathy Schriver of AKA Residences said after the event. Even the rain couldn’t dampen the excitement of celebrating the launch of Invest: Philadelphia!

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About Invest: Philadelphia

Invest: Philadelphia is an in-depth economic review of the key issues facing Greater Philadelphia’s economy featuring the exclusive insights of prominent industry leaders. Invest: Philadelphia is produced with two goals in mind: 1) to provide comprehensive investment knowledge on Philadelphia to local, national and international investors, and 2) to promote Philadelphia as a place to invest and do business.

The book conducts a deep dive of the top economic sectors in the county including real estate, construction, utilities and infrastructure, transportation and aviation, banking and finance, legal, healthcare, life sciences, education, sports, and arts culture and tourism. The publication is compiled from insights collected from more than 200 economic leaders, sector insiders, political leaders and heads of important institutions. It analyzes the leading challenges facing the market, as well as covers emerging opportunities for investors, entrepreneurs and innovators.

 

For more information, contact us at: contact@capitalaa.com

Invest: Greater Fort Lauderdale/Broward County 2.0

Capital Analytics kicks off the second annual report of Invest: Greater Fort Lauderdale/Broward County

June 28, 2018
FOR IMMEDIATE RELEASE

FORT LAUDERDALE, FL — Following generous praise from the local and international business communities after the release of the inaugural edition of Invest: Greater Fort Lauderdale/Broward County, Capital Analytics has returned to update the county’s second annual business report. Innovation is a focal point for Invest: Greater Fort Lauderdale/Broward County 2019, a comprehensive business review analyzing the key issues facing Broward County’s economy, featuring comments from the area’s top industry leaders.

Bob Swindell, president and CEO of the Greater Fort Lauderdale Alliance, notes, “Invest: Greater Fort Lauderdale 2019 will inform global investors, entrepreneurs and businesspeople of the professional opportunities available in Broward County, while also highlighting and promoting Broward County as a great place to do business.”

The first edition included insights gleaned from one-on-one, in-person discussions with over 200 C-level executives, including Florida Governor Rick Scott, Stiles President Scott MacLaren, Port Director Steven Cernak, Nova Southeastern University President George Hanbury and Citrix Systems CEO David Henshall.

Our first edition served as an introduction of Broward County to our global readership, who are not as familiar with the development and economic diversification within the county,” said Abby Melone, president of Capital Analytics. “Its overwhelmingly positive reception ensured we would follow up the inaugural launch with an even deeper look at how market newcomers and veterans alike can take advantage of the region’s investment opportunities.”

Distributed locally, nationally and globally, Invest: Greater Fort Lauderdale/Broward County serves as the first comprehensive investor’s guide to holistically assess the economy of Broward County. Of its more than 600,000 global readers, the majority are senior executives who use the in-depth business intelligence to make informed business decisions within industries that range from health to marine and from aviation to hospitality.

The highly anticipated launch conference of Invest: Greater Fort Lauderdale/Broward County took place in November 2017 at the Riverside Hotel. The future of Broward County and the county’s infrastructure were the subjects of two panels featuring Mark Gale, CEO of Fort Lauderdale-Hollywood International Airport; James Donnelly, chairman of the Broward Workshop and founder & CEO of the Castle Group; and other local VIPs. The event was attended by over 200 industry leaders, including city officials and notable businessmen and women from each of the market’s predominant sectors.

Capital Analytics is excited to return to the market with one familiar and one new face to spearhead the second edition’s research: Executive Director Erica Knowles and Editorial Manager Robin Miller. This powerhouse duo is eager to create a high-quality report that dives even deeper than the first and showcases this vibrant area.

For more information contact:
Jaime Muehl
Managing Editor
contact@capitalaa.com
TEL: 305-523-9708

Invest: Miami speaks with Alexandra Villoch, President & Publisher Miami Herald Media Company

Invest: Miami speaks with Alexandra Villoch, President & Publisher Miami Herald Media Company

While in other parts of the U.S., Hispanics may be considered part of a niche or minority market, in Miami-Dade County, the Hispanic market is the general market. Broadly speaking, Hispanics in Miami are highly entrepreneurial and more affluent, better educated and more technologically engaged than they may be elsewhere in the U.S.

A large portion of the Hispanic population in Miami-Dade prefers to speak Spanish. El Nuevo Herald attracts these Spanish-preferring Hispanics while the Miami Herald attracts the English prefer-ring Hispanics. We also have Hispanic readers who buy both the English-language Miami Herald and its Spanish counterpart El Nuevo Herald because the coverage of the two papers is quite different.

El Nuevo Herald focuses more on news and issues that pertain to Latin America, especially Venezuela, Colombia and Cuba, while the Miami Herald emphasizes local or national news with the U.S., even as its coverage of Latin America is renowned nationally and internationally. We even have differ-ent editorial perspectives for the two newspapers that hold distinct views as they serve different audiences. A perfect example: during the Florida gubernatorial elections, the editorial staff at Miami Herald backed candidate Charlie Crist, while those at el Nuevo Herald supported incumbent Rick Scott.

It is important to note that our Hispanic readership is not monolithic. For instance, there is a big difference demographically between digital and print consumption among our Spanish readers, as is the case with our English readers. Both El Nuevo Herald and Miami Herald digital readers skew younger, more affluent and have a higher education level than readers of the print version. Essentially, we are addressing a much different constituent and audience in the digital space in Spanish and English than on the print side. As Hispanics in the U.S. continue to grow its size and influence on culture, economics and politics, it will become extremely important to understand the nuances of this mar-ket, and Miami-Dade County will be ahead of the curve nationally because of its proficiency and experience catering to this demographic.