Tonya Kelly, CPA, Orlando Office Managing Partner, Hancock Askew & Co., LLP
In an interview with Invest:, Tonya Kelly, Orlando office managing partner at Hancock Askew & Co., discussed talent attraction strategies, how the firm ensures high-quality and consistent service across all offices, and how the merger with Ferrell & Kelly CPAs has significantly expanded Hancock Askew’s presence in Florida.
How has the merger with Ferrell & Kelly CPAs impacted the firm’s presence in Orlando?
We merged with Ferrell & Kelly CPAs on June 1, 2023, which enabled us to significantly expand our footprint in Florida and provided the opportunity to work alongside offices from Georgia as well. In addition to our Orlando office, we have Florida locations in Tampa, Miami, and Jacksonville and three other offices in Georgia in Savannah, Atlanta, and Augusta. The merger provides two key benefits: enhanced career advancement opportunities for our current team in the Orlando area and the ability to deliver more comprehensive services to our clients.
Previously, as Ferrell & Kelly CPAs, we offered domestic and international taxation. Now, as Hancock Askew & Co., our clients benefit from an expanded array of services, including attestation, business valuation and transactions, risk advisory, cybersecurity, IT risk assurance, litigation support, and client accounting and advisory services (CAAS).
How is Hancock Askew adapting to the industry’s trend toward providing more advisory services rather than just simple accounting?
We have pivoted from a compliance-oriented approach to working with our clients in more of an advisory capacity. We strive to be our clients’ first point of contact when making critical decisions, such as selling their company or entering large transactions, as we can add quantifiable value by helping them avoid costly pitfalls. This trend is becoming increasingly prominent as clients realize the value of proactive advisory support.
Since the merger, we now offer extensive services in litigation support and business valuations. Hancock Askew’s seven locations provide robust support in these areas, which Ferrell & Kelly could not offer before. We have also enhanced our CAAS or accounting department, providing clients with comprehensive accounting services on a monthly, quarterly, or annual basis. We have a tech stack in place that allows us to import banking data, brokerage accounts, and vendor information, thus streamlining bookkeeping processes. This can reduce the need for internal administrative staff, saving our clients’ money on payroll, while providing extensive financial management.
With the wide range of services now being offered, how does the company ensure quality and consistency across its various offices?
Hancock Askew & Co. maintains and guarantees quality and consistency by employing service line leaders, and by separating our teams by specialized departments: Tax, Audit, CAAS, and Risk Advisory. Each division has specific quality control programs, checklists, and continued education requirements to ensure departmental consistency and to guarantee that the highest professional standards are met.
What measures does Hancock Askew take to maintain strong client relationships and ensure client satisfaction?
As our mission statement says, we approach everything we do with a “You First” mentality. We are passionately engaged in what is best for our clients, our employees and our communities. We keep close relationships with our clients so that they maintain their trust in our team and services. On an annual basis, we administer client satisfaction surveys to collect feedback directly from our clients. Our net promoter score is well above average for our industry at a score of 75, which is a positive indication of satisfaction among our clients.
Additionally, our firm has recently won a BDO Alliance USA award for our Client Experience. Specifically, for our Client ExperienceAdvocate role. Every tax partner has an assigned Client Experience Advocate, or CxA. Our CxAs are the first line of defense for all client questions. While they do not give technical advice they address client requests such as providing copies of last year’s tax returns, invoices, extensions, and obtaining any missing items and documents necessary for the preparation of our clients’ tax returns. This one- service ensures clients receive same-day responses. We have received tremendous feedback from clients regarding our CxAs, and our recent recognition further validates their importance and success.
How does being an independent member of the BDO Alliance USA benefit Hancock Askew and its clients?
The BDO Alliance USA offers resources for all technical and methodological matters that are not within our own firm, making Hancock Askew a resource for all technical accounting questions within the industry. It is always beneficial to have another set of partners to consult with, as not everyone is an expert in every field. Being a member of the BDO Alliance USA provides that support, which then benefits our clients.
What are some of the challenges your team has faced, and how has the company worked to create opportunities among these challenges?
When discussing challenges in the accounting industry, talent acquisition is a significant issue. Experienced Certified Public Accountants (CPAs) in public accounting are retiring, and there is a gap in the five to ten years of experience level where CPAs within this range often transition to private industry. Additionally, there is a shortage of students entering the accounting profession. A recent article from the FICPA mentioned that out of twelve graduating students, only one becomes a licensed CPA. Our firm actively engages with Florida and Georgia colleges, educating students about the profession and providing year-round internship opportunities. We also run a summer leadership program for college students, educating them about our career and the rewarding nature of the profession. Some of our leadership members also sit on advisory boards for the accounting schools of local universities. This allows us to keep a pulse on the needs of students and college programs and how we can provide support and guidance.
How does your office, and Hancock Askew more broadly, attract and retain top talent from the college level?
We offer competitive compensation packages and flexibility to meet the challenges of everyday life and family. Our firm culture is extremely attractive, and one of the reasons we chose to merge with the firm. We have twenty-nine fundamentals that shape the work culture at Hancock Askew. These principles show our commitment not only towards our clients, but towards each other; and we strive to uphold these values every day, in everything we do.
What role does community involvement play for your team, considering it can be a differentiator for some team members?
Community involvement is crucial. Our team participates in community involvement activities throughout the year. This month, we are joining Second Harvest Food Bank to help with their efforts to collect, store and distribute donated food to more than 750 non-profit partners throughout Central Florida. In my office, we support the Winter Park Chamber and its leadership group, Winter Park Foundation. Community involvement helps individuals build their sphere of influence and network, which can lead to friendships and professional referrals. The firm as a whole emphasizes community service and volunteerism and hosts volunteer days at every location as well as provides paid time off for volunteer events.
What is your outlook and what are the top priorities for Hancock Askew in the Greater Orlando region for the next one to two years?
Our outlook for continued growth in the upcoming year is strong. We are attracting top talent, which has been a significant challenge in the past five years. Recently, I have hired three managers, a first in five years due to the challenging hiring market. This success is due to Hancock Askew’s flexibility and its position as a middle-market firm, not burdened by the bureaucratic red tape of larger firms. We care about our employees and clients, which is evident in our fundamentals. This approach helps us attract talented CPAs in the Orlando market and supports Hancock Askew’s growth in the region.
