BKD, LLP

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BKD, LLP
Limited Liability Partnership
Industry Professional services
Founded January 2, 1923
Key people
Ted Dickman, CEO
Services Audit & Assurance
Tax
Consulting
Accounting Outsourcing
Revenue $475 million (2014)
Number of employees
2,250 (2014)
Website www.bkd.com

BKD, LLP, formerly Baird, Kurtz & Dobson, is one of the largest U.S. accounting and advisory firms,[1] providing consulting, tax, assurance and accounting outsourcing solutions to businesses, government entities, not-for-profit organizations and individuals.

Services[edit]

BKD is headquartered in Springfield, Missouri, and has 34 offices in 15 states and serves clients in all 50 states. In 2016, the firm reported revenues of $550 million and approximately 2,600 personnel, including roughly 260 partners.[2]

BKD, LLP offers advisory, assurance, 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 the construction, real estate, health care, energy, manufacturing, transportation, retail, and transportation sectors.[3]

History[edit]

Early History[edit]

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.[4]

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.[citation needed]

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

Recent History[edit]

Since that time, steady growth has continued. The firm created its first wholly owned subsidiary, BKD Corporate Finance, LLC, in 1994 and passed the $100 million revenue mark in 1999. The firm created its charitable arm, the BKD Foundation, in 2000; since making its first charitable gift in February 2000, the foundation has given more than $9 million to qualifying 501(c)(3) organization.[5] In recent years, BKD has been known to play an active role in the charities "Fighting Hunger... Feeding Hope." and the Ronald McDonald House.[6]

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.[7]

As of November 1, 2014, Wolf & Company officially became a part of BKD through the result of a merger.[8]

In 2015, BKD launched women's initiatives, sales training that spanned the entire firm, and a national enterprise risk solutions practice.[9]

Today, the firm claims 34 offices in 15 states, including Arkansas, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Nebraska, Ohio, Oklahoma, Pennsylvania, Tennessee, and Texas, making it one of the largest accounting firms in the United States. [10]

BKD is a member of the Praxity alliance, an association of global, 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 .[11]

In 2015, BKD was named 13th on the list of the Top 100 Firms published by Accounting Today.[12] Additionally, Accounting Today also ranked BKD as the #1 firm in the Midwest Region.[13]

Subsidiaries[edit]

  • BKD Corporate Finance, LLC - Provides corporate finance services, including mergers, acquisitions, sales, recapitalizations, management buyouts, ESOPs and financing services.
  • BKD Wealth Advisors, LLC - An independent wealth management firm registered with the Securities and Exchange Commission for affluent individuals and their families; boasts more than $2 billion in assets under management
  • BKD Insurance, LLC - A NASD-registered broker-dealer and wholly owned subsidiary of BKD, LLP
  • BKD Foundation - The firm's charitable arm which provides monetary services and volunteer work in order to enrich communities.[5]

Divisions[edit]

  • 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[citation needed]
  • State & Local Tax (SALT) Services
  • International Tax Services

References[edit]

  1. ^ "Just Announced: The 2014 IPA 100". 
  2. ^ "BKD Firm Profile" (PDF). 
  3. ^ "BKD, LLP: Private Company Information - Businessweek". www.bloomberg.com. Retrieved 2016-11-17. 
  4. ^ "A History of Unmatched Client Service". 
  5. ^ a b "Bkd Foundation - GuideStar Profile". www.guidestar.org. Retrieved 2016-11-17. 
  6. ^ The Dolan Media Holding Company, a Delaware corporation (2016). "Beacon Profile: BKD CPAs and Advisors". Journal Record – via General Reference Center Gold. 
  7. ^ Cody, Tamika. "BKD Acquires Malin Bergquist & Co.". Accounting Today News. Retrieved 2016-11-14. 
  8. ^ Cody, Tamra (29 September 2014). "BKD and Wolf & Company to Merge". Retrieved 16 November 2016. 
  9. ^ Hood, Daniel (2015). "2015 Firm Highlights" (PDF). Accounting Today (Supplement): 28. 
  10. ^ "BKD CPAs & Advisors". www.accountingedu.org. Retrieved 2016-11-16. 
  11. ^ "Praxity". www.praxity.com. Retrieved 2016-11-14. 
  12. ^ Hood, Daniel (2015). "The 2015 Accounting Today Top 100 Firms" (PDF). Accounting Today (Supplement). 
  13. ^ Hood, Daniel (2015). "New names, more M&A lead to strong regional growth" (PDF). Accounting Today (Supplement): 20.