Advisory
Friedman Acquires Long Island Accounting Firm Markowitz, Fenelon & Bank
The top 40 accounting firm Friedman LLP, has acquired the Eastern Long Island, New York, practice of Markowitz, Fenelon & Bank (MFB), January 1, 2020. The merger will expand Friedman's presence on Long Island through the addition of MFB's Bridgehampton...
Dec. 09, 2019
Friedman LLP, a top-40 accounting and advisory firm, has acquired the Eastern Long Island accounting firm Markowitz, Fenelon & Bank (MFB), effective January 1, 2020.
The union expands Friedman’s presence on Long Island through the addition of MFB’s Bridgehampton and Riverhead offices, bringing the total number of Friedman locations to 13 and the firm’s roster of partners and staff to approximately 600 — including the MFB team of approximately 40. The integration of MFB’s expertise strengthens Friedman’s core capabilities across practice areas for businesses and high-net-worth individuals, and enables the firm to deliver its services to an even larger client base.
MFB has been in operation for more than 60 years, providing tax, audit, accounting and advisory services to high-net-worth individuals, family offices, closely held businesses and nonprofit/government entities, among others.
“MFB has always taken great pride in the level of professionalism and care that we provide,” according to partner Thomas Terry. “By joining Friedman we will be able to offer a broader and more sophisticated range of services, including dedicated practice groups with specialized expertise in areas like international tax, cybersecurity and digital currency, among others.”
“Friedman and Markowitz, Fenelon & Bank share a common philosophy — emphasizing trust, respect, collaboration and highly personal relationships, a commitment to delivering hands-on attention, and a dedication to community service,” said Fred Berk, Friedman’s co-managing partner. “The firms’ natural alignments across value systems and proficiencies will promote a swift integration of our respective teams,” added Friedman co-managing partner Harriet Greenberg.
The addition of MFB is the latest in a series of Friedman’s recent growth initiatives that includes the establishment of new locations in Red Bank, New Jersey and Los Angeles, California, as well as the relocation of its Manhattan headquarters and its Marlton, NJ office to larger, state-of-the-art office spaces. Inside Public Accounting recently recognized Friedman among the United States’ top ten fastest growing accounting firms based on organic growth.