Smith Patrick CPAs finds itself once again among the city’s largest accounting firms as ranked by the St. Louis Business Journal. Being named to the 2024 St. Louis Largest Accounting Firms list is a reflection of our steady growth and unwavering dedication to providing you with personal service and comprehensive offerings.
Ranked #21 in 2024, we continue to grow our reputation for excellence in accounting, wealth management, tax reporting, and management consulting, all thanks to the trust and support from businesses and individuals like you.
A Firm that Grows with Our Community
Smith Patrick CPAs’ growth story is as much about numbers as it is about people. At the heart of this story is that our firm that believes in the power of personal service and the importance of being there for our clients, whether the focus is on tax deductions, navigating the complexities of the Missouri Cannabis industry, or planning for multigenerational estate trusts.
David Smith on the Challenges of Offshoring
The St. Louis Business Journal feature also shines a light on a critical issue facing the accounting industry: the trend towards offshoring. David Smith, President & CEO of Smith Patrick CPAs, shared his insights on this trend in an interview with the St. Louis Business Journal:
- Labor Shortage and Offshoring: Smith pointed out the labor shortage and the increased comfort with remote work arrangements as key factors driving the offshoring trend. “It’s been happening for as long as I can remember, but it really took off in the last five years, especially with the Covid-19 shutdowns,” Smith explained.
- Selecting Local Expertise Over Offshoring: David Smith highlights how the accounting industry frequently outsources a range of positions, from entry-level bookkeepers to senior CPAs. Yet, Smith Patrick CPAs firmly opts for local talent. “We try to avoid even having employees be heavily remote because it’s much more challenging to develop the workforce and train them and get them up to speed,” Smith said.
- Client Reaction to Offshoring: Smith also noted the pushback against offshoring from clients and business partners. “We’re not actively looking to offshore, but I’m always curious about the pulse of the marketplace. Everyone I even float the idea of (offshoring) to … it doesn’t sit well with people,” he said, emphasizing the value clients place on local, accessible service.
Commitment to Local Talent and Excellence
Despite the industry’s tilt towards offshoring, our team at Smith Patrick CPAs remains committed to our core principle of nurturing local talent and providing exceptional service. “Our industry is not unique in facing a shrinking pipeline of students. However, we continue to choose and decide that offshoring is not an appropriate resource for our firm and how we like to work with our customers,” Smith shared, highlighting the firm’s dedication to maintaining strong, personal client relationships.
As Smith Patrick CPAs looks to the future, our firm is steadfast in our commitment to growth, not just in size but in the value we deliver to each client relationship. With a focus on local talent and a comprehensive suite of services, we’re committed to personal, experienced, and client-focused accounting services in St. Louis.
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Laurie Krieger
Laurie Krieger, CPA, is the firm administrator for Smith Patrick CPAs. She brings extensive accounting experience, including serving as CFO for several organizations in the education, non-profit, and medical fields.
About Smith Patrick CPAs
Smith Patrick CPAs is a boutique, St. Louis-based, CPA firm dedicated to providing personal guidance on taxes, investment advice and financial service to forward-thinking businesses and financially active individuals. For over 30 years, our firm has focused on providing excellent service to business owners and high-net worth families across the country. Investment Advisory Services are offered through Wealth Management, LLC, a Registered Investment Advisor.