BKD, LLP

BKD, LLP, formerly Baird, Kurtz & Dobson, is one of the largest U.S. accounting and advisory firms, providing consulting, tax, assurance and accounting outsourcing solutions to businesses, government entities, not-for-profit organizations and individuals.[4]

BKD, LLP
TypeLimited Liability Partnership
IndustryProfessional services
FoundedJanuary 2, 1923 (1923-01-02)
HeadquartersSpringfield, Missouri
Key people
Ted Dickman, CEO
ServicesAudit, Accounting & Assurance, Consulting, Family Office, International, Investment Banking, Tax, Wealth Management[1]
RevenueUS$694.88 million (2020)[2]
Number of employees
2,981 (2020)[3]
Websitewww.bkd.com

BKD has 40 offices in 18 states and serves clients in all 50 states. The firm's national office is located in Springfield, Missouri.

Services

BKD, LLP offers advisory, assurance, audit and tax services, including state and local tax, international tax, real estate cost segregation, transfer pricing, wealth management, employee benefit plans, valuation services, business transition services and information technologies.

The firm works with clients in many industries, including agribusiness, architecture and engineering, construction and real estate, manufacturing and distribution, energy and natural resources, financial services, health care, not-for-profit, public sector, higher education, technologies, telecommunications, transportation and logistics.

History

Early history

In 1922, three men—William Baird, Wade Kurtz and Claire Dobson—decided to start their own firm with offices in Kansas City and Joplin, Missouri, after the disbandment of the Montgomery Firm, where the three had been employed. On January 2, 1923, the men took the $1,700 they had in the bank and opened their business: Baird, Kurtz & Dobson.[5]

Initially, the firm looked to expand to St. Louis and Chicago, but the 1929 stock market crash and subsequent Great Depression curtailed growth, forcing the firm to build its clientele and reputation in Kansas City and Joplin.

After World War II, a growth period began. A third office opened in Springfield, Missouri, in July 1948, and a uranium boom led the firm to purchase a tax practice in Grand Junction, Colorado.

The 1960s represented a period of significant change. In 1964, the firm drafted its formal partnership agreement, which still exists today. The passage of the Medicare Act in 1965 led the firm to focus on growing its health care practice, which today constitutes the firm's largest industry focus.[6]

Expansion continued throughout the 1970s and 1980s, with the firm opening new offices in Arkansas, Oklahoma, Missouri, Texas, Nebraska and Kentucky.

Recent history

Since that time, steady growth has continued. The firm created its first wholly owned subsidiary, BKD Corporate Finance, LLC, in 1994 (rebranded to BKD Capital Advisors in 2019[7]) and passed the $100 million revenue mark in 1999. The firm created its charitable arm, the BKD Foundation, in 1999; since making its first charitable gift in February 2000, the foundation has given more than $14 million to qualifying 501(c)(3) organization.[8] In recent years, BKD has been known to play an active role in the charities "Fighting Hunger... Feeding Hope." and the Ronald McDonald House.[9]

The firm undertook its largest merger in 2001, combining with Olive LLP to create BKD, LLP, which was the eighth-largest U.S. accounting firm at the time. That year also marked a name change for BKD Investment Advisors, founded in 1998, to BKD Wealth Advisors, LLC.

On October 1, 2013 BKD officially acquired Malin Bergquist & Co, LLP, a firm that was previously based in Erie, Pennsylvania.[10]

As of November 1, 2014, Wolf & Company officially became a part of BKD through the result of a merger.[11]

In 2015, BKD launched women's initiatives, sales training that spanned the entire firm, and a national enterprise risk solutions practice.[12]

Today, the firm claims 40 offices in 18 states, including Arkansas, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Mississippi, Missouri, Nebraska, New York, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, and Utah, making it one of the largest accounting firms in the United States.[13]

BKD is a member of the Praxity™, a global alliance of, independent accountancy, tax, business, and consulting firms. BKD is the largest member of the Praxity group from the United States. The firm's affiliation with Praxity enables interaction with international clients, as well as provides global support and resources .[14]

In 2020 BKD was named to INSIDE Public Accounting's (IPA) 2020 Best of the Best Accounting Firms list, marking the firm's tenth consecutive year of being named a Best of the Best firm and appearing on IPA's Top 100 Firms list.[15]

Initiatives

BKD Foundation — The BKD Foundation is the firm's charitable arm.[16] It aims to enrich the communities BKD serves through financial donations and volunteerism. The foundation supports not-for-profit organizations of many types and sizes, including several BKD clients and organizations, with firm partners and employees serving in volunteer roles. The BKD Foundation made its first donation in 2000 and has contributed more than $14 million to date.

SKY Initiative — SKY is a firmwide BKD initiative to emphasize and strengthen diversity that initially focused on attracting, retaining and developing women leaders in the firm. The goal of SKY is to identify and remove cultural barriers and biases that prevent employees from realizing their potential.[17][18]


Acquisitions

CampbellWilson joined BKD June 1, 2020.[19] CampbellWilson is a firm based in Dallas, Texas.

Teegardin & Associates CPAs joined BKD June 1, 2019.[20] Teegardin is an Austin-based firm specializing in tax, accounting and family office services.

Stayner Bates P.C. joined BKD June 1, 2019.[21] Stayner Bates is a firm based in Salt Lake City, Utah,

Loeb & Troper LLP joined BKD July 15, 2018.[22] Loeb & Troper is a firm specializing in audit and consulting for the health care, not-for-profit and education industries. The New York-based firm kept its same location.

Rylander, Clay & Opitz, LLP (RCO) joined BKD June 1, 2018.[23] Rylander, Clay & Opitz is a Fort Worth-based firm offering a variety of accounting and consulting services for clients across a broad range of industries—added to BKD's existing offices in Texas including Dallas, Houston, San Antonio and Waco.

Harper & Pearson Company, P.C. joined BKD January 9, 2018.[24] Already the eighth-largest accounting firm in Houston, BKD gained additional staff and clients from the purchase. Some of Harper & Pearson's staff joined BKD's office at 2800 Post Oak Boulevard.

Paragon Audit & Consulting, Inc. joined BKD June 1, 2017.[25][26][27] Paragon, a Denver-based firm specializing in internal audit and compliance, is helping grow the capabilities of BKD's National Advisory Services Region and BKD National Enterprise Risk Solutions Practice.

Kiesling Associates LLP joined BKD December 4, 2016.[28][29][30] The Des Moines-based firm strengthened BKD's presence in the Midwest and added industry knowledge in the telecommunications industry.

Peterson, Peterson & Goss joined BKD December 1, 2015.[31][32] This Wichita-based firm expanded BKD's market presence in the Midwest.


Subsidiaries

BKD Capital Advisors, LLC – BKD's investment banking arm that provides services including mergers, acquisitions, company sales and divestitures, debt and equity recapitalization, strategic planning and select transactions.

BKD Wealth Advisors, LLC – An independent wealth management firm registered with the SEC offering services for affluent individuals and their families and boasting more than $4 billion in assets under management.[33]


Divisions
  • BKD Technologies – Offering information technology solutions
  • Enterprise Risk Solutions – Services to help address operational, financial, strategic, regulatory and technology risks and controls
  • Forensics & Valuation Services – Business valuation, forensics and fraud investigation services
  • Loan Review Services – Helping financial institutions assess loan portfolio quality and repayment risk of selected borrowers
  • State & Local Tax (SALT) Services
  • International Tax Services


Awards
  • INSIDE Public Accounting Best of the Best Firms, 2010–2020[34]
  • INSIDE Public Accounting Top 100, 2010–2020[35]
  • Vault Accounting 50, 2019[36]
  • Training Magazine's Training Top 125, 2015,[37] 2016,[38] 2017,[39] 2018,[40] 2019[41]
  • Chief Learning Officer LearningElite Gold Organization, 2018,[42] 2019[43]
  • Chief Learning Officer LearningElite Bronze Organization, 2016,[44] 2017[45]
  • Accounting Jobs Today Top 100, 2018[46]
  • Association for Accounting Marketing, 2016,[47] 2017,[48] 2018[49]
  • Wichita's "Best Places to Work," 2013[50]

References
  1. "BKD CPA & Advisory Services". BKD, LLP.
  2. "The 2020 Best of the Best Firms". Inside Public Accounting.
  3. "The 2020 Best of the Best Firms". Inside Public Accounting.
  4. "Just Announced: The 2014 IPA 100". Inside Public Accounting.
  5. "A History of Unmatched Client Service".
  6. https://www.nymetroasc.com/sponsors/
  7. https://www.bkd.com/news-releases/bkd-corporate-finance-celebrates-25-years-rebrands-name
  8. "Bkd Foundation - GuideStar Profile". www.guidestar.org. Retrieved 2016-11-17.
  9. The Dolan Media Holding Company, a Delaware corporation (2016). "Beacon Profile: BKD CPAs and Advisors". Journal Record – via General Reference Center Gold.
  10. Cody, Tamika. "BKD Acquires Malin Bergquist & Co". Accounting Today News. Retrieved 2016-11-14.
  11. Cody, Tamra. "BKD and Wolf & Company to Merge". Retrieved 16 November 2016.
  12. Hood, Daniel (2015). "2015 Firm Highlights" (PDF). Accounting Today (Supplement): 28.
  13. "BKD CPAs & Advisors". www.accountingedu.org. Retrieved 2016-11-16.
  14. "Praxity". www.praxity.com. Archived from the original on 2016-11-05. Retrieved 2016-11-14.
  15. https://www.bkd.com/news-releases/bkd-named-top-5-ipas-2020-best-best-accounting-firms
  16. https://www.bkd.com/about-us/bkd-foundation
  17. https://oklahoman.com/article/5615114/bkds-sky-program-promotes-gender-intelligence
  18. http://www.praxity.com/insights/thought-leadership/posts/2017/may/look-inside-you-might-like-what-you-see/
  19. https://www.bkd.com/news-releases/bkd-acquires-dallas-based-campbellwilson-expands-health-care-services
  20. https://www.bkd.com/news-releases/teegardin-associates-cpas-joins-bkd
  21. https://www.bkd.com/news-releases/salt-lake-city-firm-joins-bkd
  22. https://www.accountingtoday.com/news/bkd-merges-in-loeb-troper-in-new-york
  23. https://www.bkd.com/news-releases/rylander-clay-opitz-llp-joins-bkd
  24. https://www.indianachamber.com/bkd-acquires-harper-pearson-financial-institution-practice-indianapolis/
  25. https://www.bkd.com/news-releases/paragon-audit-consulting-inc-joins-bkd
  26. https://www.accountingtoday.com/news/bkd-merges-in-paragon-audit-consulting
  27. http://blog.insidepublicaccounting.com/2017/06/paragon-audit-consulting-joins-bkd/
  28. https://www.bizjournals.com/kansascity/news/2016/11/29/bkd-acquires-kiesling-associates.html
  29. https://www.bloomberg.com/markets/stocks?cic_redirect=fallback
  30. https://www.bizjournals.com/stlouis/news/2016/11/28/bkd-acquires-midwest-cpa-firm.html
  31. https://www.bizjournals.com/wichita/news/2015/12/01/bkd-acquires-peterson-peterson-goss.html
  32. https://www.accountingtoday.com/news/bkd-merges-in-peterson-peterson-amp-goss
  33. https://www.prweb.com/releases/bkd_wealth_advisors_surpasses_4_billion_in_assets_under_management_and_advisement/prweb16748194.htm
  34. "The 2020 Best of the Best Firms". Inside Public Accounting.
  35. "The 2020 Best of the Best Firms". Inside Public Accounting.
  36. https://www.vault.com/best-companies-to-work-for/accounting/vault-accounting-50
  37. https://trainingmag.com/training-magazine-ranks-2015-top-125-organizations/
  38. https://trainingmag.com/training-magazine-announces-2016-training-top-125-winners/
  39. https://trainingmag.com/training-magazine-ranks-2017-training-top-125-organizations/
  40. https://trainingmag.com/training-magazine-ranks-2018-training-top-125-organizations/
  41. https://trainingmag.com/training-magazine-announces-2019-training-top-125-winners/
  42. https://learningelite.clomedia.com/2018/03/28/2018-learningelite-winners/
  43. https://learningelite.clomedia.com/2019/04/01/2019-learningelite-winners/
  44. https://learningelite.clomedia.com/2016/08/11/2016-learningelite-winners/
  45. https://learningelite.clomedia.com/2017/04/23/2017-learningelite-winners/
  46. http://www.accountingjobstoday.com/cm/Resources/top%20100%20accounting%20firms.html
  47. https://connect.accountingmarketing.org/blogs/kristin-bailey/2016/05/12/association-for-accounting-marketing-announces?CommunityKey=8d252816-102e-4546-b912-ece808c1f7a5&tab=recentcommunityblogsdashboard
  48. https://connect.accountingmarketing.org/blogs/kristin-bailey/2017/06/15/association-for-accounting-marketing-announces-the-2017-category-winners-of-the-marketing-achievement-awards?CommunityKey=8d252816-102e-4546-b912-ece808c1f7a5&tab=
  49. https://connect.accountingmarketing.org/blogs/kristin-bailey/2018/05/29/aam-announces-the-category-winners-of-the-marketin
  50. https://www.bizjournals.com/wichita/feature/best-places-to-work---bkd-llp.html
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