Spotlight On: David Stonesifer, CEO, Herbein + Company, Inc.
May 2025 — In an interview with Invest:, David Stonesifer, CEO of CPA advisory firm Herbein + Co., discussed the firm’s strategic growth and cultural cohesion across Pennsylvania. “We invest significant time, resources, and effort into building and improving our culture,” he said, emphasizing deliberate efforts to retain talent and the importance of building holistic client relationships.
What have been the key highlights or milestones over the past year for Herbein + Company, Inc. across both the Philadelphia and Pittsburgh markets?
We’ve been investing heavily in both regions as part of our strong growth trajectory. Over the last five years, we’ve doubled the size of our firm through both organic growth and strategic acquisitions.
While we’re headquartered in Reading, both Philadelphia and Pittsburgh are key markets for us. In just the last 24 months, we’ve completed acquisitions in both regions, which I’m particularly proud of. Even though we’re not headquartered in either city, we see tremendous long-term opportunities there to expand our talent pool and grow our client base.
Given that Herbein operates across multiple regions in Pennsylvania, how do you maintain a consistent culture while allowing for local nuances?
One thing I’m most proud of is that we’re consistently recognized as one of the best places to work across all our regions — Philadelphia, Pittsburgh, the Lehigh Valley, and Reading. Every single one of our Pennsylvania locations routinely earns this type of workplace recognition. This doesn’t happen by accident. We invest significant time, resources, and effort into not just maintaining our culture, but actively improving it. We’ve even created dedicated positions focused solely on culture, retention, and team development.
This intentional approach has paid off, especially in a profession known for high turnover. We experience remarkably little turnover, and that’s a direct result of our deliberate efforts to create an environment where people want to stay and grow.
What is your understanding of the regional talent pipeline for both Pittsburgh and Philadelphia, particularly for the accounting industry?
That’s probably one of our biggest challenges at Herbein — and across the profession as a whole. That said, the talent pipeline seems to have improved recently, with shortages easing slightly. Over the last 12-18 months, we’ve seen more and better candidates applying compared to during and immediately after COVID.
To address these labor challenges, we’ve invested in an office in the Philippines, which has grown tremendously. We find little trouble attracting entry-level accountants, but experienced professionals with five to 10 years of experience remain difficult to find. It’s an industry-wide challenge.
We’ve positioned ourselves well by working hard to make Herbein an employer of choice. This remains an ongoing priority as we continue attracting and retaining top talent to support our growth. The pressure to find talent reflects our firm’s success — it’s a good problem to have, as it underscores our momentum and the opportunities ahead.
Are there any specific trends shaping the accounting and advisory sectors in these markets, and how is your firm adapting?
I’d highlight two key trends. First, there are significant changes coming to CPA licensing requirements — shifting from a five-year degree program to a four-year program to help address pipeline issues. As president of the Pennsylvania Institute of Certified Public Accountants, I see these changes as very positive for our profession.
Second, we’ve been transforming Herbein into a true “one-stop shop” for clients. We’re going well beyond tax and audits to serve clients holistically. Today, we offer advisory services across HR, wealth management, risk analysis, and transaction advisory. This aligns with the broader industry trend toward providing comprehensive solutions — we’re solving full-spectrum business needs under the Herbein umbrella.
Are there any challenges that the accounting sector is facing right now, from regulatory changes to technology, and how are you staying ahead of these challenges?
Technology is certainly a major challenge. You could spend endless money on tech, only to find it outdated tomorrow. We’re focused on making smart investments — finding the right solutions that will deliver the best ROI rather than chasing every new development.
On the regulatory side, CPAs are individually licensed by state. As regulations evolve, maintaining reciprocity and mobility between states could potentially become a real challenge. That has me nervous. It’s a highly regulated industry, as it should be, but any disruption in that area is concerning.
We’re also closely watching the new administration in Washington. Inevitably, this will bring tax law changes, though we don’t yet know specifics. Tariffs are on everyone’s mind today, creating significant uncertainty regardless of political perspective. Our job is to navigate this uncertainty, position our clients advantageously, and plan for what’s coming next.
How do you understand and communicate the value of holistic client-relationship building at Herbein + Co?
Our firm is deeply committed to serving clients through a holistic approach. We’ve invested heavily in being able to address our clients’ entire landscape of needs. When someone chooses Herbein, they should have confidence that we can advise them in virtually any area they require assistance.
We want to be their trusted advisor — their first call when they have a problem, a need, or an issue they want to discuss. That comes with tremendous responsibility, but also brings great pride and gratification when you become a client’s “everything.”
When people consider careers in accounting, I wish our industry did a better job explaining how powerful this relationship can be. We’re changing clients’ lives — we’re responsible for a family’s fortune, their next generation, helping them build better lives. There’s nothing more rewarding than that impact.
Looking ahead, what are your top priorities for your firm and your outlook for the next two to three years?
The outlook for Herbein is extraordinarily positive. We’ve been growing at a rapid pace, and I see that continuing unabated. We’ll keep investing — I’d even say doubling down — in our personnel and team members. Everything starts and ends with our team.
Our mission statement centers on three pillars: team, clients, and community. These drive everything we do. We’re investing in our people through international development opportunities, improved technology, education, and professional growth — all so they can better serve our clients as we continue to expand.
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