Claim OwnershipEverything CPA and Private Equity with Phil Whitman and David Wolfskehl
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Welcome to Everything CPA and Private Equity with Phil Whitman and David Wolfskehl, the go-to podcast for accounting professionals navigating the rapidly evolving world of private equity. Hosted by the seasoned team at Whitman Transition Advisors, this podcast breaks down complex topics, shares expert insights, and provides actionable advice to help CPA firms understand and thrive in the private equity landscape.
Each episode explores critical concepts, from investment strategies to partnership models, and features candid conversations with industry leaders and special guests. Whether you’re exploring opportunities, managing transitions, or simply curious about the latest trends, this podcast delivers the knowledge you need to make informed decisions and drive your firm’s success.
Tune in, subscribe, and join us as we guide you through the intersection of accounting and private equity!
Each episode explores critical concepts, from investment strategies to partnership models, and features candid conversations with industry leaders and special guests. Whether you’re exploring opportunities, managing transitions, or simply curious about the latest trends, this podcast delivers the knowledge you need to make informed decisions and drive your firm’s success.
Tune in, subscribe, and join us as we guide you through the intersection of accounting and private equity!
42 Episodes
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Are CPA firm leaders underestimating how complex these deals really are?
In this episode of Everything CPA & Private Equity, Phil Whitman and David Wolfskehl break down the real lessons from 22+ investor meetings in a single month—and why “the multiple” is only one small scoop in a much bigger ice cream shop.
With 31 flavors, 12 cones, and endless toppings, today’s transactions are more nuanced than ever. The firms that win are the ones that understand the full menu—not just the headline number.
In this episode, you will be able to:
• Understand why the multiple alone does not determine total enterprise value
• Learn how EBITDA adjustments, add-backs, and flexibility can dramatically change outcomes
• See why smaller firms are experiencing increased competition and rising valuations
• Recognize the importance of chemistry and culture in both high-trust and low-trust deals
• Discover why having multiple offers improves leverage, clarity, and negotiating power
Listen now to gain the education most firm leaders never get—and make sure your next conversation is strategic, not reactive!
#EverythingCPAandPE #CPAFirmLeadership #PrivateEquityInAccounting #FirmValuation #CPAMergers
Are firms overlooking what truly matters long term?
In this episode of Everything CPA & Private Equity, Phil Whitman and David Wolfskehl sit down with Nishaad Ruparel, President of Ascend, to unpack one of the most misunderstood parts of private equity conversations: equity quality—and why ownership structure matters.
In this episode, you will be able to:
• Understand why equity quality matters
• Learn how new ownership models can create more opportunity for younger partners and future firm leaders
• Learn how different equity structures influence control, upside, and durability over time
• Rethink how CPA firms can grow, stay independent, and still create lasting value
Listen in and enjoy the conversation to learn why the best deal isn’t always the loudest—and how smart ownership decisions shape the future of CPA firms.
#EverythingCPAandPE #CPAFirmLeadership #PrivateEquityInAccounting #EquityQuality #FutureofCPA
Are CPA firms truly prepared for what 2026 will bring—or are they underestimating what’s coming next?
In this episode of Everything CPA & Private Equity, Phil Whitman and David Wolfskehl look ahead to 2026 and beyond, breaking down what CPA firm leaders must understand now as private equity activity accelerates, models diversify, and competition intensifies.
In this episode, you will be able to:
Understand why 2026 is shaping up to be the year of the tuck-in—and what that means for firms of every size
Learn how new PE models, niche rollups, and specialization are reshaping firm value
See why education—not just multiples—is the biggest differentiator in successful deals
Discover how firms are professionalizing operations before a transaction to drive higher enterprise value
Explore what lies ahead for independence, minority investments, and continuation vehicles
Listen now to get ahead of the shifts coming in 2026—and make sure your firm is planning strategically, not reacting late!
#EverythingCPAandPE #CPAFirmLeadership #PrivateEquityTrends #FirmValuation #FutureOfAccounting
Feeling overwhelmed by all the private equity noise—and not sure what it really means for your firm?
In this episode of Everything CPA & Private Equity, Phil Whitman and David Wolfskehl sit down with Dave Kells to recap Accounting Today’s PE Summit, break down what they’re seeing in the market, and talk frankly about how firm leaders can get educated before a term sheet hits their inbox.
In this episode, you will be able to:
Understand the key takeaways from the PE Summit and what they signal for firms in the $2M–$20M range.
Clarify the different “flavors” of capital partners—platforms, roll-ups, minority deals, debt structures—and why they’re not all created equal.
Learn how to start the internal work: partner “soul searching,” defining your legacy, and aligning on what you actually want.
See why culture, chemistry, and governance matter just as much as multiples when evaluating potential partners.
Recognize why you need a Sherpa—someone who’s seen dozens of deals—to help you compare options rather than jumping at the first big check.
If you’re weighing your firm’s next move—or you just want clarity amid the PE buzz—listen to this episode and get the guidance every CPA firm leader needs before entering the conversation!
#CPAFirmLeadership #PrivateEquityInsights #AccountingIndustryTrends #CPAFirmGrowth #StrategicAdvisory
Worried your clients will ask, “Why didn’t you tell me about Bitcoin sooner?”
In this episode of Everything CPA & Private Equity, Phil Whitman and David Wolfskehl sit down with Mike Williams of TrueVestments to unpack the Bitcoin Legacy Fund—what it is, why Wall Street is leaning in, and how CPA firms can educate and protect high-net-worth clients while still managing risk.
In this episode, you will be able to:
Understand why Bitcoin’s volatility is normal for a high-upside asset and how to think beyond day-to-day price swings.
See how the Bitcoin Legacy Fund is structured specifically for CPA firm owners and their high-net-worth clients.
Learn how to position Bitcoin as a long-term wealth silo, not a short-term trading play.
Explore practical ways CPA firms can educate clients—using webinars, documentaries, and joint meetings with Mike’s team.
Decide how your firm wants to show up: as the advisor who avoided the conversation, or the one who helped clients navigate it intelligently.
Tune into this episode of Everything CPA & Private Equity to get the education you need before your clients start asking the hard questions!
#CPAFirmLeadership #DigitalAssetsEducation #PrivateEquityInsights #BitcoinLegacyFund #AdvisorStrategy
The October 15 tax deadline is behind you — but what now? After months of nonstop work, long nights, and extension filings, many CPA firm leaders finally exhale… only to face the real question:
Now that the rush is over, is your firm actually ready for what comes next?
In this episode of Everything CPA & Private Equity, Philip Whitman, CPA, David Wolfskehl, and David E. Kells Jr. break down how firms can use the post–October 15 window to prepare for opportunity — whether that’s mergers, succession, or new investments.
Here’s what you’ll take away:
• Clarity before action: How to define what you truly want — for yourself, your partners, and your legacy — before taking that first meeting.
• One firm, one voice: Why alignment across your partner group builds confidence and credibility with potential buyers or investors.
• Prep drives value: The key financial, cultural, and operational steps that increase enterprise value long before any deal is signed.
• Address red flags early: How transparency about challenges protects your reputation and keeps deals from falling apart.
• Treat it like a partnership: Why responsiveness, readiness, and trustworthiness set the tone for better outcomes.
Listen now to learn how to turn the post–October 15 slowdown into your firm’s strongest season of growth and opportunity!
#CPAFirmGrowth #PrivateEquity #AccountingLeadership #MergersAndAcquisitions #WhitmanTransitionAdvisors
What happens when private equity meets the most specialized corners of the CPA world—valuation, forensics, litigation, and advisory? A whole new set of opportunities emerges.
In this episode of Everything CPA & Private Equity, hosts Phil Whitman and David Wolfskehl unpack how niche-focused firms are finding their place in today’s PE-driven market—and why their expertise is more valuable than ever.
In this episode, you will be able to:
• Understand how specialty firms fit into the broader PE and M&A ecosystem
• Learn why niche expertise is becoming a key value driver in firm growth
• Explore how roll-up models create new referral opportunities for specialized providers
• See how consistent results and strong reputations attract PE attention—even without recurring revenue
• Discover why now is the right time for specialty firms to scale or partner
Tune in to learn how private equity is reshaping the future of niche expertise in the CPA industry!
#PrivateEquity #CPAInsights #SpecialtyFirms #FirmGrowth #ValuationAndForensics
Why would a thriving CPA firm take outside investment?
In this episode of Everything CPA and Private Equity, hosts Phil Whitman and David Wolfskehl sit down with Joe Damiano of Sax to unpack why even a highly profitable, fast-growing firm chose a minority private equity partner.
In this episode, you will be able to:
• Learn why deal flow—not just capital—was the catalyst for Sax’s decision
• See how a minority investment can help level the playing field in M&A
• Understand how Sax balanced culture, partner engagement, and economics
• Discover how a strong capital stack opens doors for future growth
• Hear why PE can be about strategic alignment—not losing independence
Listen now to uncover why even the strongest firms explore PE—and what lessons your firm can take away!
#PrivateEquity #CPAFirmGrowth #AccountingDeals #MergersAndAcquisitions #FirmStrategy
Are CPA firms clinging too tightly to being “fiercely independent”?
In this episode of Everything CPA and Private Equity, hosts Phil Whitman and David Wolfskehl sit down with former Baker Tilly CEO Alan Whitman to unpack what it really takes to scale in today’s profession.
In this episode, you will be able to:
• Understand why “good enough” thinking holds firms back from real growth
• Learn how strategy and discipline transform lifestyle firms into true businesses
• Explore the tension between independence and alignment in firm governance
• Hear how culture and collaboration drive sustainable scale
• See why breaking old habits is key to staying relevant
Listen now to uncover why independence isn’t always strength—and how strategic alignment positions CPA firms to thrive in a changing marketplace.
#CPA #AccountingFirms #FirmStrategy #Leadership #PrivateEquity
Is your firm’s outdated tech holding back growth—and lowering valuation?
Tech isn’t just a back-office tool anymore—it’s a growth driver in private equity deals. In this episode of Everything CPA & Private Equity, hosts Phil Whitman and David Wolfskehl sit down with Joe Carufe of Karbon to explore how the right tech stack transforms firms before and after a PE transaction.
In this episode, you will be able to:
Understand why PE firms see tech infrastructure as critical to scaling CPA practices
Learn how standardized workflows and training boost profitability and efficiency
Discover how smaller firms gain a “rocket booster” of innovation when joining PE platforms
Explore why tech prep matters even if you’re not planning to sell soon
See how improved efficiency translates directly into higher valuations
Listen now to hear how PE-backed firms are modernizing through tech—and why preparing your stack today sets you up for success tomorrow.
#PrivateEquity #CPAFirmGrowth #AccountingTechnology #WorkflowAutomation #FirmValuation
Are smaller CPA firms being overlooked in the private equity wave?
In this episode of Everything CPA and Private Equity, hosts Phil Whitman and David Wolfskehl break down why firms under $3M are finding new opportunities in today’s market—and why it’s not just the large firms that PE is after.
In this episode, you will be able to:
• Understand why over 200+ PE groups are looking at CPA firms—and what that means for smaller practices
• Discover why “cash at closing” changes the traditional succession playbook
• Learn how niche services and profitability drive firm value in PE deals
• Explore why culture and chemistry matter just as much as multiples
• Hear why now is the best time ever to be a CPA firm owner
Listen now to uncover what’s really happening in the CPA and PE marketplace—and how your firm can be part of it!
#CPAIndustry #PrivateEquity #AccountingFirms #FirmGrowth #SuccessionPlanning
Think private equity is only chasing the biggest players in the industry?
Think again. In this episode of Everything CPA and Private Equity, Phil Whitman and David Wolfskehl break down how firms under $3M in revenue are closing PE-backed deals — and why the opportunities have never been better for smaller practices.
In this episode, you will be able to:
Understand why PE firms and family offices are now targeting smaller CPA firms
Learn what deal structures can look like beyond the traditional “one-times revenue” model
Discover the key qualifiers that make a smaller firm attractive to strategic investors
See why culture and chemistry still matter more than the highest multiple
Explore how niche expertise can give small firms a big advantage in PE conversations
Listen now and find out how even smaller firms can leverage today’s market to take chips off the table, access growth capital, and secure their future!
#CPADeals #PrivateEquity #AccountingFirms #MergersAndAcquisitions #FirmGrowth
Worried about the impact of private equity in accounting?
You’re not alone—but the fear often doesn’t match the facts. In this episode, Phil Whitman and David Wolfskehl are joined by Terry Putney for a no-fluff conversation on what’s really happening in the profession—and what leadership teams need to know.
In this episode, you will be able to:
Understand why the “PE = cost-cutting” narrative doesn’t fit accounting
Learn how offshoring and tech are improving—not harming—client service
Hear why firm quality has increased post-PE investment
Discover the difference between a partnership model and a corporate model
See how PE-backed firms are attracting and retaining top talent
Listen now to hear how private equity is reshaping the profession—for the better!
#EverythingCPAandPE #AccountingLeadership #PrivateEquityFacts #CPAFirmStrategy #OffshoringInAccounting
What Happens When PE Is Led by Operators—Not Just Investors?
In this episode of Everything CPA and Private Equity, Phil and David sit down with Sanjay Agarwal, CEO of Occams Elevate, to explore a new model of growth capital built by CPAs, for CPAs.
In this episode, you’ll be able to:
Understand how operator-led PE platforms differ from traditional investor-only models
Learn why Occam’s Elevate prioritizes autonomy, equity incentives, and culture preservation
See how Sanjay’s team supports firms with built-in HR, finance, marketing, and AI infrastructure
Discover why advisory and audit are at the center of their long-term strategy
Get insights into flexible exit options—including rollover equity and second-bite planning
Tune in now to hear why this new platform is turning heads—and how it could align with your firm’s next chapter!
#PrivateEquity #CPADeals #OperatorLedGrowth #MergersAndAcquisitions #StrategicPartnerships
Is your firm ready for private equity—or just reacting to a phone call?
In this episode of Everything CPA and Private Equity, hosts Phil Whitman and David Wolfskehl are joined by guest David Kells, leader of WTA’s Profit Team, to uncover what really separates high-value deals from short-sighted decisions.
In this episode, you’ll be able to:
Understand why meeting 1 or 2 PE firms is never enough to make a smart decision
Learn how cultural alignment matters more than a high multiple
Discover how WTA helped one firm boost cash upfront from 40% to 60% by knowing buyer patterns
Get clarity on deal types: Topco vs. Local equity, short vs. long holders, minority vs. majority stakes
See how education and advocacy protect sellers from bad fits and future regret
Listen now to learn how Whitman Transition Advisors guides firms through one of the most important decisions they’ll ever make!
#CPAFirmGrowth #PrivateEquityDeals #StrategicAdvisory #MergersAndAcquisitions #AccountingLeadership
How can minority investments transform CPA firms—and what role does Bitcoin play in the future of finance?
In this episode of Everything CPA and Private Equity, Mike Williams, Managing Partner of TruVestments, shares how his team is helping CPA firms scale, retain control, and lead clients into the next generation of financial strategy.
In this episode, you’ll be able to:
Understand how minority investments offer cash infusion without loss of control
Learn why EBAC may be more valuable than EBITDA when it comes to firm valuation
See how CPAs can integrate wealth management to deepen client relationships
Explore the growing relevance of Bitcoin and digital assets in long-term planning
Hear how future-focused firms are preparing for the digitization of finance
Listen now and explore how your firm can lead in the next era of opportunity!
#CPALeadership #WealthManagement #PrivateEquity #DigitalAssets #FutureOfFinance
What happens when a CPA sees the gap—and decides to build the solution?
In this episode of Everything CPA and Private Equity, Josh Funk, Chief Development Officer at Crete Professionals Alliance, shares how his journey from firm owner to PE-backed leader is transforming how CPA firms grow, scale, and lead in today’s market.
In this episode, you will be able to:
Learn how Josh took Crete PA from zero to 21 firm partnerships and $300M+ in revenue
Understand the power of local-level rollover equity—and why it benefits high-performing firms
Explore how Crete helps partner firms scale by taking admin, compliance, and tech off their plate
Hear how one $20M firm grew to $45M in less than three years through organic and inorganic growth
Get insights into how Thrive Capital and Crete are building a tech-enabled, people-first future for the profession
Listen now to hear how Josh Funk and Crete PA are rewriting the CPA-PE playbook!
#FirmGrowth #PrivateEquity #CPALeadership #CretePA #EverythingCPAandPE
Can you grow fast, stay independent, and still put your people first?
In this episode of Everything CPA & Private Equity, Ron Weiner shares how his firm scaled from 20 to 80+ team members while staying true to its values—no shortcuts, no compromises. From turning down private equity to implementing an ESOP, Ron walks through the real-life decisions that shaped one of the most profitable, people-centered firms in the industry.
In this episode, you will be able to:
Learn how firm culture drives both retention and profitability
Explore why Perelson Weiner LLP chose an ESOP—and how it’s evolving
Hear how the wrong growth strategy can damage client trust
Get leadership insights from someone who’s scaled multiple firms
Understand how to stay independent in a consolidating industry
This one’s for firm leaders who believe strong values lead to strong returns. Listen now.
#EverythingCPAandPE #FirmLeadership #PeopleFirst #GrowthWithoutSellingOut #ESOPStrategy
Still think private equity is a passing trend in accounting? Think again.
In this episode of Everything CPA and Private Equity, Phil Whitman and David Wolfskehl unpack what they’re seeing across the country as they attend top CPA conferences—and how firm leaders can make sense of it all.
In this episode, you will be able to:
Understand why PE-backed firms are now dominating the CPA event landscape.
Hear real-world stories of firms that doubled in size within months after partnering with PE.
Discover the shift from “PE curiosity” to “PE strategy” among firm leaders.
Learn why staying independent is still a viable path—but only if you prepare smartly.
Get tips on how to educate your team and evaluate your competition in this evolving market.
Whether you’re PE-curious or committed to independence, this episode will help you see what’s coming next—and how to position your firm to thrive.
Listen now!
#PrivateEquity #CPAIndustry #FirmLeadership #MergersAndAcquisitions #EverythingCPAandPE
What happens when a firm chooses legacy, culture, and long-term growth over flashy headlines and fast exits?
In this episode of Everything CPA and Private Equity, David Wolfskehl sits down with Noah Beery, Head of Corporate Development at Platform Accounting, to uncover how a quiet, boutique-focused strategy led to 50+ acquisitions and lasting success.
In this episode, you will be able to:
Discover the powerful founding story behind Platform Accounting and its values-driven approach
Understand how family office capital supports sustainable, long-term strategy
Learn why they don’t operate under one brand—and how this preserves firm culture
Explore their personalized, non-cookie-cutter integration model post-acquisition
Hear why execution—not more ideas—is the real difference-maker in firm growth
Tune in to the full episode!
#CPAfirmSuccess #PrivateEquity #AccountingMergers #StrategicGrowth #EverythingCPAandPE #Podcast
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