CEO & President
Whitman Transition Advisors LLC
Phil specializes in CPA Firm Growth. Whether succession planning, M&A, talent acquisition, business advisory services or practice management consulting, firms of all sizes, from sole practitioners to top 10 global firms rely on him.
Phil has grown Whitman Transition Advisors to be the single largest advisory organization for CPA firms in the Nation. The depth and breadth of CPA firm leadership expertise by the Whitman Transition Team is unparalleled. With greater than 1,000 merger and acquisition transactions and consulting engagements, there is nothing the Team hasn’t seen.
Phil has expanded his CPA firm relationships and now helps small, medium, and large CPA firms help their clients. Through the C Suite IMPACT LLC group of companies, Whitman as Chairman, offers everything from Fractional CFO, Back-office Client Accounting Resources, Business Intelligence, and Deal Making, this includes buy-side, sell-side and capital raising, Whitman partners with the CPA firms and creates additional bottom-line revenue for the firms without them adding one new client or one new staff person.
Whitman has been a featured speaker for various state societies of CPAs, international CPA firm associations as well as a presenter for CCHs annual user conference. For over 25 years he has advised firms throughout North America.
When not focusing on strengthening existing business relationships Whitman enjoys connecting and building new relationships and prides himself on being a professional connector. Whitman has been married to Mia, his wife, for 33 years and enjoys time with his three adult sons, one an accountant, another a pilot, and the youngest a techie.
For decades, accounting firms relied on a predictable formula for growth and ownership transition: Partners funded the next generation, firms financed growth from operations, and independence was the default path forward. That model is increasingly under pressure.
Accounting Today’s 2025 research revealed that one in three firms now report needing capital, driven by rising technology and AI investments, acquisition opportunities, talent challenges, and the growing cost of partner succession. At the same time, aging ownership groups and rising firm valuations are making traditional partner buyout models harder to sustain, forcing firm leaders to reconsider how they fund growth, transition leadership, and remain competitive.
This opening session will explore the structural forces creating capital pressure across the profession and examine the strategic choices firms now face.
Our conference co-chairs sit down with Dan Hood for a candid discussion on the changing economics of firm ownership, the realities of succession planning in today’s market, and the funding models that will shape the next generation of accounting firms.
As private equity interest in accounting firms accelerates, the path from initial outreach to a successful deal is proving more nuanced than many expect. From sourcing and valuation to partner alignment, governance, and post-deal integration, acquiring an accounting firm requires a deep understanding of both the business model and the people behind it.
In this interactive session, industry advisors Allan Koltin, Bob Lewis, and Phil Whitman—who field calls from PE firms every day—share what you need to know before pursuing a transaction. Each will offer a brief, focused perspective on what drives successful deals, common missteps, and how to effectively evaluate and engage with target firms.
The session will then open into a town hall-style discussion, giving PE firms the opportunity to ask candid questions and pressure-test their approach in real time. Whether you’re actively deploying capital or exploring the space, this is a chance to get unfiltered guidance from advisors who understand both sides of the table.
Moderated by Accounting Today.
Note: Space is limited to encourage open, high-value discussion.
Private equity has already reshaped the accounting profession—but what happens next? In this interactive town hall, industry leaders will explore how capital, consolidation, technology, and talent pressures are transforming firm ownership and operations. Will private equity become the dominant ownership model? Can independent firms continue to compete and thrive? And what will the next generation of accounting firms look like five to ten years from now? Join this forward-looking discussion on the forces shaping the future of the profession and what firm leaders should be doing today to prepare for tomorrow.
The path to taking on private equity can take many forms; in this session, accounting firm leaders and industry experts share the main milestones on that path, including the sort of discussions firms should be having internally, the critical questions they need to ask themselves, how to bring together a partner group on a final decision, the due diligence they should be doing on their PE partners.
Our co-chairs return to the stage to wrap up the event, highlighting the most important takeaways from the previous two days, offering their key insights, and taking questions from the audience.
In this session, a panel of top experts and deal-makers (including our conference co-chairs) will survey the current state of play in the accounting profession — covering everything from what types of firms can expect to be able to make a PE deal and how those deals are changing, and how that is impacting the broader profession, laying a groundwork for the more granular discussions to come on Day 2.
Veteran deal-maker, Phil Whitman, will take accounting firm leaders through the structure of a “typical” private equity deal to discuss important issues like price, rollover equity, levels of control, the “scrape” and how partner compensation is handled after a deal, and much more. The first part of the session will deal with smaller firms, and the second part with midsized and larger deals.
*Must attend both sessions to qualify for the 1 hour of CPE credit.