Three MPs Instead of One

Source: Inside Public Accounting

Tom Schulte, MP of RBZ, LLP in Los Angeles for 10 years, wanted a balanced life. A restructuring of the MP position has resolved the problem and also strengthened the firm, which has grown from 25 people to nearly 100 in 10 years. Schulte had a $1 million book of business 10 years ago and now has $3 million.

Schulte initiated the process after maintaining a diary that showed allocation of time for the MP role. There were three major areas: administrative, strategic, and public. Initially the firm planned to hire an executive to manage the firm but decided that person would face a potentially insurmountable learning hurdle. The firm had been growing 15 percent a year and was named one of Inside Public Accounting’s Best of the Best in 2006. They didn’t want to risk a derailment.

Schulte analyzed the current partners’ skills and found matches with the firm’s needs. As of June 30, David Roberts will be the public MP, Harvey Bookstein will be in charge of strategy, and Mark Baumohl will be in charge of administration.

From Inside Public Accounting, April 2007, p. 13. The Platt Consulting Group (www.plattgroupllc.com). Subscription $369 per year; back issues—nonsubscribers $40. 317-733-1920.