Fall 2014 issue of Horizons

CHAIRMAN'S CORNER

The RubinBrown Succession Story by Jim Castellano, CPA, CGMA

S eptember 4th was a sad day for the RubinBrown family...the day we lost one of our founders, a mentor and friend, Mahlon Rubin. While the theme of succession planning for this issue of Horizons was set months in advance, it seems ever more appropriate now in light of Mahlon’s passing. RubinBrown has grown over the years to become a highly respected, nationally prominent professional services firm, and that, of course, makes me very proud. However, the accomplishments that bring me the most pride are the successful transition of our firm to a third generation of leadership, and the solid plans we have to take it to the fourth generation. Realizing this is a unique accomplishment since so many professional services firms end with the retirement of their founders, I thought our readers might enjoy hearing our story of succession and perhaps inherit a few ideas from the lessons we have learned. Succession begins with a stewardship culture . Our culture of stewardship began with our founders who created a great foundation for us to build upon. As stewards of our firm, we believe in our obligation to leave the firm in a better position for the next generation. Vision is one of our core values at RubinBrown. Read about our core values on our website where we commit to “…invest significant resources in things that will provide benefit to our clients, our team members and ultimately our firm in the future.” Describing our desired future, then building plans to take us from here to there, has long been a powerful planning exercise for us. The clearest vision, however, cannot be achieved without outstanding talent. Our talent planning process is rigorous and disciplined, resulting in a deep and

extraordinarily talented team, quite capable of carrying our firm well into our fourth generation of leadership. Having clear and fair financial arrangements to enable the transition of ownership from one generation to the next is a key factor for succession results. It is a core competency of ours to develop such financial arrangements with clients,

Jim Castellano, CPA, CGMA Chairman

so it’s not surprising that we have long ago created plans for ourselves that have stood the test of time. Finally, a process of orderly transition must be implemented. Culture, vision, talent planning and clear financial arrangements alone will not do the job. Success is achieved in the implementation of the process. Succession planning is not an event, but rather a process requiring ongoing focus and commitment. Ours includes continuous attention to the orderly transition of client relationships, technical capabilities, management responsibilities and community relationships. Starting well in advance of any partner’s retirement has contributed significantly to the sustainability of our firm. If succession planning is on your mind and you would like further guidance or assistance, I invite you to contact your RubinBrown engagement partner who will bring the proper talent and resources to help you through the process.

Thanks for your confidence in us.

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