Spotlight On: Paul Thompson, Managing Partner – Florida Practice Unit, Forvis Mazars

April 2026 — Invest: sat down with Paul Thompson, managing partner of the Florida Practice Unit at Forvis Mazars, to discuss the firm’s expansion across the state, the rise of advisory services, and why North Florida is positioned for major growth. “North Florida, and Jacksonville in particular, will be the next to explode, and we’re starting to see it already,” Thompson said.

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What have been the major highlights for Forvis Mazars in Florida over the past 12 months?

The last 12 months have been really exciting for Forvis Mazars. When we spoke last year, we only had three offices in Florida: Jacksonville, Tampa, and Boca Raton. Now, we have expanded that footprint to include Fort Lauderdale, Tallahassee, and Orlando, so we have really grown our presence across the state.

We did that through an integration with a Florida-established firm, MSL, which took place in November 2024. That was a huge part of our focus because we knew that, with how pro-business Florida is and how much growth is happening here, the firm wanted to be part of that. We have grown through a combination of greenfielding an office, like we did in Boca Raton, and the acquisition of MSL, which brought more capabilities, deeper bench strength, and increased focus on specific sectors.

With that integration, we doubled our headcount and doubled our number of partners. It has been exactly what we wanted, and it is creating more opportunities for continued growth across the state. I will also say it has helped us in North Florida in particular. There has been tremendous growth in South Florida, and that momentum started moving into the Tampa area. North Florida, and Jacksonville in particular, will be the next to explode, and we’re starting to see it already. More businesses are coming to Jacksonville, so we are poised and ready to help both our current clients and new clients with the Unmatched Client Experience we are known for.

How has growth in Northeast Florida influenced demand for different services at the firm?

Our core audit and tax practices have continued to grow. Where we are seeing more transformative growth is in our advisory practices. We have brought in more transaction advisory, wealth advisory, and healthcare consulting, which is part of that broader advisory platform.

One addition we are really excited about is our CFO advisory services, along with outsourced accounting services. What we are seeing is that clients, as well as prospects, no longer view us as a small firm. They are seeing that a Top 10 firm can offer national resources with personal attention. That is how we have continued to grow, and that is what this expansion has allowed us to do: bring more depth and breadth, and create more opportunities for us to add value to both current clients and prospects.

What trends are you seeing in the way businesses are approaching transactions and growth strategies today?

We are seeing a lot of activity. Many of the businesses we are talking to, including current clients, are asking what comes next. Some are looking to continue growing and need an infusion of capital. Others are looking at debt as part of that strategy. We are also seeing many middle-market, privately held and family-owned businesses come to us for guidance.

Some clients are looking for help with sell-side due diligence. They want to know what they should be doing to prepare for a transition. On the other side, we are also working with prospects that want to grow through acquisition and are asking how we can help them on the buy side with diligence. That demand has continued to rise.

Within the firm, we also have a capital markets group that helps businesses sell and helps identify targets for acquisition. What has also been really interesting to see is our wealth advisory practice. When you have a family-owned or privately held business where the owners have poured their blood, sweat and tears into it, there often comes a point where they either want to take it to another level or decide they have done all they can do and want to move on. Then they experience a liquidity event that is life changing. That is where our wealth advisory group comes in.

They help with estate matters, trust matters and the broader question of what to do with that influx of cash. They work with clients to develop a plan, not just for them, but for future generations of the family as well. We have invested heavily in this area and brought in a more robust wealth advisory team in Florida, which allows us to differentiate ourselves from the competition and, more importantly, continue bringing value to our clients.

How are those services evolving as entrepreneurial families look beyond a single business sale?

For some of these businesses, when they sell, the amount coming in is truly life changing. But many of those entrepreneurs still want to keep building. They want to create something new, and that often leads to the creation of family offices.

That is where we have seen a lot of growth in asset management within our firm in Florida. These family offices may have a significant pool of capital, and they want to go out and buy other companies. Our asset management group helps them set up funds. We help from a tax perspective to make sure everything is structured appropriately, and then we support the operation of those funds as well.

Typically, once that structure is in place, they want to put that capital to work. They begin looking at new acquisitions, and we are right there with them, helping them think through the next steps and evaluate portfolio companies. Then the cycle starts again. We help with compliance, tax and audits, and then support the acquisitions that help build the platform company. When you think about the full business ecosystem, it really spiderwebs and continues to grow, and we love being a part of that. That middle-market, family-owned business that grows dramatically is exactly our sweet spot.

How are legal, tax, and regulatory changes shaping the way you advise clients?

We are overly proactive with our clients. While I would say it is currently business as usual, tax is always evolving, and there are always new agendas, regulations and proposals on the horizon.

Our role is to get ahead of the curve and present clients with options. We don’t tell them where things will go. Instead we present a map of possibilities. If it goes a certain way, here is how they might want to think about it. It is really about being proactive and helping them plan for different scenarios.

On the international side, the creation of the Forvis Mazars Global network has really expanded our capabilities. It has allowed us to better identify opportunities and respond to regulatory matters from an international perspective. We are also seeing more inbound work from the international side. Florida’s position today is helping us support companies coming into the state, and we are able to access our international counterparts, understand those businesses and help them navigate the challenges of entering the U.S. and, more specifically, Florida.

How is Forvis Mazars approaching talent development and retention in such a competitive environment for CPAs and advisors?

Strong partnerships with colleges and universities are foundational for us. We want to continue growing those relationships and supporting them, while also making sure students know who we are and where we are. Spending time on campus is important, because that is how we start building those connections early.

I do think we are going to start seeing some improvement as requirements for CPA licensure continue to evolve and the pathway widens for young accountants. Florida is already moving in that direction, and I think that will help. I also appreciate what universities are doing to give students an accelerated path focused on accounting, while also creating opportunities to enter the workforce sooner after earning a bachelor’s degree.

For us, the key is getting students into our firm and our offices. We have leadership development programs, and we sometimes even begin talking with students after their freshman or sophomore year. Then we turn that into real-world experience through internships. They get to work alongside full-time professionals and experience the coaching culture that defines our firm.

That is a big part of how we retain top talent.

Want more? Read the Invest: Jacksonville report.