The Bonadio Group, upstate New York’s largest independent provider of accounting, consulting, and financial services, has ranked number 39 on the list of Accounting Today’s 2017 Top 100 firms, with notable growth in revenue and personnel, 11.17 percent and 4.53 percent, respectively. The firm is the highest-ranking on the list from upstate New York. The annual program salutes the top revenue-producing practices among the nation’s CPA firms.
The Bonadio Group joined the ranks of the Top 100 in 2007, ranking 99th, and has experienced consecutive and strategic growth to reach 39th on the list. The firm reported an 11.17 percent increase in projected revenue over fiscal year 2015. The growth is significantly higher than the industry average of 8.80 percent reported by Accounting Today. The publication also recognized The Bonadio Group on its list of 2017 Regional Leaders—ranking 10th in the Mid-Atlantic region, which includes New Jersey, New York, and Pennsylvania.
“This year’s ranking, and our recent growth, is a tribute to our leaders across the firm who form our strategies and make us productive,” said Thomas Bonadio, CEO, The Bonadio Group. “When I started The Bonadio Group, I never imagined the growth we would experience in order to reach this exclusive club of firms with more than $100 million in annual revenue.”
In 2016, the firm made its most significant announcement to date—its three-year leadership succession plan. The plan allows Bonadio to transition his key roles at the firm to Mario Urso and Bruce Zicari. Effective May 2016, Urso became chairman of the firm’s board of directors and Zicari was named Rochester office managing partner. Bonadio will mentor Zicari, who will assume the CEO role in May 2019.
“Growth is, and will continue to be, at the center of our strategic plans for the firm,” said Zicari. “We’re proud of our national ranking with Accounting Today and will continue to dedicate our efforts in growing the firm with our talented staff and the expertise and services they provide our clients.”
The Bonadio Group now serves more than 16,000 clients in New York State, as well as nationally and internationally. With 10 offices and a growing number of employees, the firm has projected revenues of more than $106 million for fiscal year 2017.
About the Accounting Today Top 100 Ranking
Accounting Today is a bi-weekly magazine for the accounting industry, covering news emanating from large and small practitioners and regulatory agencies and vendors. In addition, the magazine’s Top 100 Ranking focuses on the top growth niches and management strategies for today’s progressive practices. Accounting Today’s annual ranking of firms, ranking the largest U.S. accounting firms by revenue, is the magazine’s most highly anticipated—and most read—report of the year. With an unstable economy and high-profile CPA firm mergers and acquisitions radically changing the landscape of the accounting industry, this year's list was more highly anticipated—and revealing—than usual. The entire list can be accessed at www.webcpa.com.