Steve Castino, Chief Growth Officer, Rehmann
Invest: sat down with Steve Castino, chief growth officer for Rehmann to discuss the market in Central Florida, technology and its impacts on the professional services workforce, and how artificial intelligence can be a positive component for advisory practices.
What have been some of the company’s greatest successes in the region in the last year, and how do those successes speak to the current state of the advisory sector?
Eighteen months ago, we merged our firm, Vestal & Wiler CPAs, with Rehmann. At the time, we had 60 associates in Orlando at Vestal & Wiler. Today, we have around 70 associates in Orlando. We’ve successfully transitioned clients and people throughout the merger. We are now a fully integrated, full-service firm able to bring on new clients and serve them in various capacities from the advisory, tax, audit, and wealth management standpoints. We’re also proud to support various charities throughout the communities where we live and work through The Rehmann Foundation.
What are some examples of how technology has enhanced Rehmann’s offerings and client experiences?
Specifically in the professional services industries, artificial intelligence is progressing fast, allowing us to invest in our future. This technology will enable us to make tax returns faster. It enables us to audit financials in fewer hours and still produce quality results. Instead of testing a small sample, it will enable us to test an entire group, so there are a lot of different benefits from artificial intelligence. That said, we’re focused on ensuring the people’s side and the personal touch don’t go away. This is what we’re hoping will allow our people to have more of an advisory mindset and be more forward-thinking versus just compliance-driven.
In what ways do you think artificial intelligence will impact the advisory sector workforce?
I think it’s a huge positive for kids coming out of college right now. They’re not going to have to do a lot of the mundane work that many people had to do over the last X amount of years in terms of data entry. Accounting is a great profession, and it’s only getting better with the help of AI, as it allows associates to get into a more analytical advisory role.
What are some of the initiatives for professional development at the firm?
We call ourselves a learning culture, and by that, we mean that we’re constantly learning, whether it’s a technical skill or a soft skill. That’s an important aspect of our lives, whether technical or CPE. For any one of the industries that we serve or any of the professionals we have, we want to help them improve. Our job is to prepare them in the best possible way, whether at Rehmann or if they go to another firm, another industry, or whatever it might be.
What methodologies does the company employ to mitigate risk for clients?
Our industry, just like all professional service industries, continues to be scrutinized and tough, which is why we take risk management very seriously. We recently hired David Klippert, who served as our primary outside legal counsel for many years, as our full-time in-house counsel and boast a risk management committee.
How does the company emphasize collaboration?
Our collaborative approach is integral to our firm. The Rehmann Advisory Experience provides an industry-leading client experience by deploying cross-functional advisory teams who execute consistent, relentless service standards and deliver holistic solutions to our clients. We provide empowering advice and always offer fresh perspectives. We want to bring our full suite of tax, audit, consulting, technology, and business solutions service offerings to every client to make sure that if they have a problem, we can do our best to help solve that problem, differentiating ourselves from competitors.
What is your outlook on the market?
Orlando is currently a booming market, with mergers and acquisitions occurring regularly. Rehmann is determined to continue growth in Central Florida, as we saw great success with the Vestal & Wiler merger in 2022. Prior to the merger, Rehmann already had four offices established in Florida but wanted to be in Orlando. Orlando’s the center of the state. There are many reasons to be here, and that’s why you see a lot of mergers and acquisitions happening in Central Florida right now. We work a lot with private equity groups, and I spend a lot of time with them; they’re bullish about what’s happening in Central Florida. They see growth continuing in our area. There’s still a demand for housing, and amazingly, given that mortgage rates are what they are today and housing prices in Central Florida haven’t come down.
What is your outlook for Rehmann in the next three to five years?
Rehmann will continue to grow organically and acquisitively throughout the Midwest and the Southeast, expanding and evolving our service offerings as well.
