Jeffrey Taraboulos, Managing Partner, KSDT

Invest: sat down with Jeff Taraboulos, managing partner of KSDT, to discuss consolidation in accounting, the firm’s decision to join the Ascend platform, and how KSDT is positioning for long-term growth across the Carolinas. “We can build a strong team in Charlotte that supports clients across the country, or we can grow through revenue and business development in the market itself. Either of those outcomes is a success,” Taraboulos said.

What market shifts or external forces are impacting your business, and how are those influencing your focus, time, and resources?

There is a lot of consolidation happening in our industry right now. It’s been more visible in bigger markets, but it’s happening in markets like Charlotte as well, where firms are joining private-equity-backed platforms.

One big driver is giving people a path to grow within the firm. With the platform we’re in now, any manager and up can buy equity across firms under the Ascend platform. In our prior structure, it was difficult for younger professionals to buy in because we were growing 20% to 25% per year. It’s hard to ask someone to come out of pocket with cash to buy a significant portion of ownership when valuations rise quickly. Under this platform, people can buy little by little and build ownership over time.

Another major force is technology, especially AI. Before joining Ascend, I had a $100,000 budget for AI. This year, across the platform, the combined spend is about $9 million. That kind of investment is incredible, and it’s going to allow us to provide better service to clients while getting our people out of the most repetitive work.

If you ask anyone whether they want to input transactions all day or sit with clients, understand their business, and help them make decisions, almost everyone chooses the latter. AI can help move our professionals toward higher-value work. We’re already seeing it in practice. It’s not just a theory. We’re testing solutions within firms, and we’re seeing real examples of it working.

Can you share some background on KSDT’s growth and what led you to join the Ascend platform?

We started our firm in 2005 with three people. We decided to buy a small accounting firm, and we had to sell the owner on the idea that we were going to grow it. We came in, cross-sold services, expanded capabilities, and clients responded.

After that, we realized organic growth alone was slower than what we wanted, especially if we were serious about creating opportunities for our people. We pursued additional acquisitions and mergers over time. We went from three people to a firm doing more than $47 million in revenue, with about 265 people and 30 partners. We also have operations in India and the Philippines.

When Ascend approached us, it aligned with how we’ve always thought about growth. They’re a people-first company, like we are, with a culture that fits. Our motto has always been, let’s be stronger together, and under Ascend, we gain Big Four-level resources in technology, hiring, recruiting, marketing, and operational support, so we can focus on growth and creating opportunity.

How are you thinking about North Carolina within the platform, and what are your priorities right now?

North Carolina is important to Ascend’s success overall. There are multiple firms with a presence in the state, including Charlotte and Raleigh, and we already have an office in Charlotte that we’ve been building.

We want to grow Charlotte significantly over time. We explored opportunities to join forces with firms in the market, but we weren’t able to make it happen. Right now, the primary near-term focus is on using the new capital to grow South Florida first. That doesn’t mean Charlotte is not a priority. It will continue, and I’d like to grow in Charlotte organically over time.

What makes Charlotte and the Raleigh-Durham region stand out as markets for growth, and how do you evaluate which regions are worth further investment?

Charlotte is a young, growing market with major companies, and I’m seeing signs of entrepreneurship that remind me of what I saw in Miami years ago. In some ways, it feels earlier in its trajectory compared to where Miami is now.

If I could go back in time in Miami, there are things I would have done earlier to prepare for the growth that ultimately happened. In Charlotte, I feel it is early enough that we can position ourselves intentionally, capitalize on continued expansion, and help leaders and companies navigate what’s next using what we’ve learned in South Florida.

How are you assessing workforce availability in the Carolinas, and how do you plan to leverage talent in the Charlotte region?

Even if we don’t grow Charlotte significantly from a revenue perspective, Charlotte can still be a great market for us from a people perspective. There’s an amazing amount of talent in Charlotte, especially among young people who are driven and want to grow.

One way or another, we are going to grow. We can build a strong team in Charlotte that supports clients across the country, or we can grow through revenue and business development in the market itself. Either of those outcomes is a success.

How has KSDT developed young talent from within and created leadership pathways for teammates?

Early on, we seriously invested in learning and development. We hired a director of learning and development, and they ultimately became a partner in the firm. That reflects how much we believe in investing in our people, helping them build skills, and giving them opportunities to step into larger roles.

There’s structured training, but there’s also a culture of putting faith in people. A simple example is how we started our Charlotte office. We had a manager who wanted to be in Charlotte, and we empowered that person to open the office and build the foundation.

Sometimes I describe our approach as battlefield promotions. When an opportunity comes up, we give people the chance to step up and show what they can do, and they have consistently delivered.

Looking ahead, what does success look like for KSDT in the Carolinas over the next few years?

Success looks like growth, whether that comes through people, revenue, or both. It also includes expanding our footprint thoughtfully, including nearby markets like Greenville, South Carolina, where we already have clients.

Brand awareness is also a big part of it. In South Florida, the KSDT brand is well known. In Charlotte, we’re still building that presence. Success means getting our name more on the map, building trust, giving back to the community, and making sure people understand our culture and service quality.

Is there anything else you would like to add about the firm and your long-term goals?

We’re a rapidly expanding firm, and we have goals of becoming, within the Ascend platform, a $150 million firm within five years. Ascend is now over $600 million in revenue across the firms in the platform, which places it among the top firms nationally. North Carolina is an important part of that future.

On a personal level, the main reason I’m still doing what I’m doing is that I want to provide opportunities for people. I want others to reach the kind of success I’ve had in my career, and I want to change how people think about accounting. It’s not the outdated stereotype people imagine. It can be a rewarding, profitable career where you’re helping clients make better decisions.

That’s also why I spend time with the NASCAR community. Many people in that world have grown quickly, their needs change, and they appreciate advisors who can help them plan and adapt. When I can help clients and create opportunities for my team at the same time, that’s what makes the work meaningful. The day I can’t help people anymore is probably the day I retire.