Jeremy Hartzell, Chief Operating Officer & General Counsel, HBK CPAs & Consultants

In an interview with Invest:, Jeremy Hartzell, Chief Operating Officer and General Counsel at HBK CPAs & Consultants, highlighted HBK’s talent development initiatives, community engagement, and the firm’s focus on industry-specific solutions. “The acquisition of an HR advisory practice and the expansion of our IT vertical have been transformative,” Hartzell said.

What key changes over the past year have impacted HBK in Pittsburgh, and in what ways? 

The most significant development is the acquisition of an HR advisory practice in February 2025. This is an initiative we have pursued for several years across the entire firm. We were fortunate to partner with Bob Floreak and his team at Acuity, acquiring a majority interest in the company. This addition allows us to offer comprehensive outsourced HR advisory services, including talent acquisition and related solutions.

Additionally, Vertilocity, our IT practice, has experienced rapid growth throughout the region. Locally, we welcomed Dan B. Sefick as a new partner to lead our nonprofit practice for the entire firm from the Pittsburgh office. We also added Dan Milcic to our manufacturing group, further strengthening our talent base.

Our organizational structure has evolved toward a solutions group or industry model, aligning our expertise with client needs while maintaining our local presence. We remain committed to community engagement through HBK Cares, our community service initiative, which underscores our dedication to investing in Pittsburgh.

How is HBK approaching talent recruitment and workforce development, especially in attracting and nurturing talent in Pittsburgh?

Talent acquisition is a priority, especially in accounting, where the industry has faced a talent shortage. The PICPA has helped by revising licensing requirements, which we view as a positive step.

Locally, we expanded our talent acquisition team by hiring a second professional based in Pittsburgh. She joined us at the end of July 2025 and reports to Michael Provance, who was promoted to Director of Talent Acquisition this year. We are also recruiting a College Recruitment and Intern Program Coordinator to enhance our early-career pipeline.

At the leadership level, we brought on Molly Crane as Chief People and Culture Officer, elevating our HR capabilities. Additionally, we have hired a contractor to lead tax training and development, overhauling our tax training program. This follows similar enhancements on the assurance side under Shawn O’Brien, who is a principal for HBK. These strategic hires strengthen our ability to attract, develop, and retain top talent.

Importantly, our talent strategy leverages Pittsburgh’s unique strengths, including partnerships with local universities and alignment with the region’s growing tech and professional services sectors. The Acuity integration has been particularly valuable in providing data-driven insights and best practices that help us tailor our offerings to meet the evolving expectations of today’s accounting professionals. This is also in line with our service model that is tailored to middle-market clients rather than Fortune 500 companies, though we do serve some billion-dollar clients. Our focus remains on small to midsize businesses that lack internal expertise and require a partner to provide specialized support on an as-needed basis rather than maintaining full-time staff.

How does HBK distinguish itself in a competitive market?

In 2025, HBK earned significant recognitions that highlight our firm’s growth and excellence, including being named to Accounting Today’s Top 50 national firms while maintaining our Top 100 position for over a decade, along with inclusion in USA Today’s February 2025 list of “Most Recommended Accounting Firms.” These prestigious honors validate our strategic direction and the exceptional service quality delivered by our teams nationwide. The national recognition specifically underscores the success of our expansion through strategic acquisitions like Acuity HR, the robust performance of our specialized industry practices, and our ongoing commitment to innovative service delivery models. For our Pittsburgh operations, these achievements have produced tangible benefits by enhancing our ability to attract premier local talent, strengthening our competitive position in serving regional clients, and confirming the value of our investments in key practice areas such as manufacturing and nonprofit services. In Pittsburgh, we have moved into the Top 10 on the Book of Lists, which is a notable milestone. Realistically, this is likely as high as we can climb without being acquired, given the dominance of larger firms such as the Big Four and BDO.

How does HBK’s Nonprofit Solutions Group support Pittsburgh’s nonprofit and philanthropic ecosystem?

Nonprofits are vital to Pittsburgh’s community, spanning healthcare, education, foundations, and cultural institutions. We provide professional services ranging from compliance to strategic consulting, board training, and planning.

Many of our team members serve or have served on nonprofit boards, and we encourage active participation. We sponsor events aligned with our mission and organize monthly community engagement initiatives. For example, we recently partnered with Urban Impact and the Steelers for a volunteer event. During busier periods, we facilitate donation drives, such as pet food collections for Animal Friends or support for veterans. We believe in the principle that “to whom much is given, much is expected.” This philosophy drives our commitment to giving back, whether through hands-on service or charitable contributions.

How are you supporting manufacturing clients in the region?

Manufacturing is a dedicated industry group led by Jim Dascenzo in our Youngstown office, with significant expertise in Pittsburgh. We serve approximately 20 high-level manufacturing clients, providing strategic guidance amid evolving economic conditions.

Recently, we hired a business consultant with industry experience to advise on inventory planning, costing, pricing, and tariff-related challenges. We help clients navigate economic trends, tax implications, and supply chain decisions, such as inventory storage and movement.

For instance, when the One Big Beautiful Bill Act passed, we quickly published a multi-page analysis and hosted multiple webinars, one focusing on manufacturing-specific impacts. Our goal is to stay ahead of changes, ensuring clients make informed strategic decisions.

Which industry trends, locally in Pittsburgh or nationally, are most impactful for HBK, and how are you navigating them?

One of the most significant trends is the post-COVID financial landscape. Many companies accumulated substantial resources during the pandemic due to various relief programs. However, we are now observing a pullback in both merger and acquisition activity and discretionary spending. Businesses are struggling to adapt to constantly changing regulations and economic conditions.

Many CEOs express frustration over the lack of certainty. They simply want clear rules to guide their decision-making, even if those rules are unfavorable. This uncertainty has led to delayed hiring and investment decisions. Within the accounting industry, we have noticed a tightening labor market, with fewer professionals switching jobs compared to previous years.

Another trend is the shift away from remote work. While remote work was widely adopted post-COVID, many firms, including ours, are transitioning back to in-office environments. Human interaction is critical, particularly in consulting, where collaboration and relationship-building are essential.

What current challenges do you see for the CPA and consulting industry, and how is HBK, particularly the Pittsburgh office, addressing them while finding new opportunities?

One of our biggest challenges is pricing. The accounting industry has historically undervalued its services, leading to a race to the bottom in terms of fees. Firms often underbid one another, resulting in unprofitable engagements. We must adopt a more sustainable approach, similar to law firms, where fees reflect the true value of services provided.

The talent shortage further complicates this issue. With high demand and limited supply, salaries are rising, yet fee structures have not adjusted accordingly. This disconnect creates financial strain. Addressing this will require industry-wide collaboration to ensure fair compensation and sustainable business models.

How does HBK engage with the Pittsburgh community through education, or other sector‑specific initiatives?

We actively partner with local universities where we recruit, including Robert Morris University, Duquesne University, Geneva College, Westminster College, and Grove City College. This year, we supported Robert Morris University’s Volunteer Income Tax Assistance (VITA) program, which had lost its United Way funding. This program not only benefits low-income individuals but also serves as a training ground for aspiring accountants.

Additionally, we established a scholarship at Grove City College and committed $100,000 to Youngstown State University. We continuously assess community needs and encourage our partners to identify opportunities where we can make a meaningful impact.

What is your outlook over the next few years for HBK’s Pittsburgh office?

We recently launched a strategic plan focused on growth both in practice and personnel. Maintaining our office culture is a top priority. We pride ourselves on being a fun, collaborative workplace with low turnover.

Expanding our market presence is another goal. We are nearly out of space in our current building, which is a positive indicator of growth. Our downtown Pittsburgh valuation team is already operational, and we are exploring mergers and acquisitions to integrate smaller firms into our practice.

We are also preparing to introduce a professional services industry model, which will be a new offering in this market. Above all, we aim to remain active community stewards, ensuring we contribute meaningfully to Pittsburgh’s growth and development.