Stewart Appelrouth, Managing Director, Citrin Cooperman
Invest: spoke with Stewart Appelrouth, Managing Director at Citrin Cooperman, to discuss its significant achievements over the past year, the impact of its recent merger, and its strategies for navigating evolving client demands, market changes, and technological advancements. South Florida Managing Partner Josh Rader also weighed in on the firm’s shift towards more advisory work thanks in part to AI and automation.
What have been the most significant achievements for the Miami office over the past year or two?
Stewart Appelrouth: Since we last spoke, we’ve joined Citrin Cooperman. Josh Rader is now the managing partner for South Florida, and the transition has been smooth. It’s benefited our clients significantly by providing us with more resources and personnel, especially in a challenging employment environment. Joining Citrin Cooperman has allowed us to take on larger clients while still serving our existing client base effectively.
Joining a Top 20 national firm has enabled our South Florida practice group to grow. We’ve continued to service our foundational client base for the last 35 years while adding resources in specialized areas, such as state and local tax compliance, mergers and acquisitions, digital services, and business process outsourcing. This has allowed us to expand the range and depth of services we offer. Additionally, with the increasing complexity of the accounting profession, we now have access to a larger network of subject matter experts to assist our clients. It’s been a tremendous period of growth, and we’re optimistic about continuing this momentum in 2025.
Another important factor is how Florida is changing. COVID accelerated an influx of businesses and industries into the state, turning it into a major capital market. While we were initially focused on local markets — Miami-Dade, Broward, Palm Beach, and Monroe counties — we’ve expanded into Lee and Collier counties as well. This growth demands more sophisticated knowledge to serve clients from across the country while maintaining a local, personalized approach.
With South Florida experiencing a surge in financial professionals relocating here from hedge fund managers to private equity specialists and others, the level of expertise required has grown. Being part of a larger firm with a strong financial services practice has allowed us to meet these demands effectively.
What are the main ingredients for providing high-level client service, and how is Citrin Cooperman distinguishing itself in the Miami market?
Appelrouth:The key is a personal connection. In today’s world, too many firms rely on texts and emails to communicate. While that might suffice for some, it doesn’t build loyalty or trust. We still go out to meet clients face-to-face. It’s like the difference between doctors who rely solely on tests versus those who physically examine and talk to patients. Personal interaction helps us truly understand our clients’ needs, and that’s what sets us apart. We aim to be hands-on, creative, and proactive in advising clients. Technology enhances our capabilities but doesn’t replace human connection.
How is the firm currently leveraging technology in tax, audit, and litigation services?
Appelrouth: Technology has become essential, but it’s not a substitute for human expertise. We’ve embraced tools like Citrix ShareFile for secure information exchange and automation software for tax preparation. These tools free up our professionals to focus on advisory roles rather than data entry. Forensic and audit technologies allow us to analyze large datasets more efficiently, but the human element remains critical. Technology is an enhancement, not a replacement.
Josh Rader: Technology helps us streamline processes and improve data security, which is crucial given the sensitive information we handle. For example, clients can now e-sign tax returns securely from their phones, making it easier to meet deadlines. AI and automation allow us to focus more on analysis and advisory work, providing deeper insights to clients. But as Stewart mentioned, at the end of the day, ours is a service business, and people come first.
How has the transition been after your merger with Citrin Cooperman, and what steps have you taken to maintain a strong internal culture?
Appelrouth: We chose Citrin Cooperman because their culture aligned closely with ours. Despite some changes, our team has adapted well, and many employees come into the office more often than required because they genuinely enjoy working here. Maintaining a balance between quantitative benefits, like competitive salaries, qualitative factors, and a supportive environment, has been key to preserving our culture.
Rader: While there were challenges, like adapting to new systems and processes, the cultural fit made the transition smooth. People are our greatest asset, and having shared values and a similar approach has made all the difference.
How do you envision the next few years for Citrin Cooperman, particularly in Florida?
Appelrouth: We’re expanding both in Florida and nationally. Consolidation in the accounting industry is inevitable due to the high costs of technology and increasing client demands for sophisticated services. Larger firms like ours can offer both qualitative and quantitative advantages — competitive compensation and a strong cultural identity. Smaller firms may struggle to compete, but for us, the focus remains on delivering value through expertise and innovation.
