Five Questions With: Jack Cacchiotti

Jack Cacchiotti
JACK CACCHIOTTI is partner at Restivo Monacelli LLP, a Providence-based tax, accounting and business advisory. COURTESY RESTIVO MONACELLI LLP

Jack Cacchiotti is partner at Restivo Monacelli LLP, a Providence-based tax, accounting and business advisory. The firm recently announced it has expanded its footprint into Florida by opening a new office in Boca Raton. Cacchiotti talks with Providence Business News about Florida and its growing customer base that lives there, and how the firm plans to grow moving forward.

PBN: Tell our readers a little bit about your firm and its newest office in Florida.

CACCHIOTTI: Restivo Monacelli was founded nearly two decades ago with a uniquely different business model than most traditional accounting firms. In addition to being certified public accountants with numerous other credentials, our firm consists of business leaders and entrepreneurs that leverage their expertise across a wide range of industries to help clients maximize their profitability. 2017 has been an exciting year, so far. Last month, we unveiled our new brand and website, which reflects our desire to remain on the cutting-edge. Most recently, we announced the opening of our third location in Boca Raton. We believe our new office greatly enhances our ability to serve clients who reside or conduct business in Florida.

PBN: Why did you choose that marketplace?

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CACCHIOTTI: Our firm has a highly specialized estate- and trust-planning wealth-preservation practice for high-net-worth individuals and families. We noticed a trend over the last few years that more and more of our high-net-worth clients from Rhode Island and Massachusetts were spending winters, if not longer, in Florida. We have a very hands-on approach to servicing our clients, so opening an office in Boca Raton was an excellent strategic and geographical fit for our firm.

PBN: How does Florida compare to the Rhode Island and Massachusetts markets?

CACCHIOTTI: A lot of high-net-worth individuals have moved to Florida, not just for the weather but also for economic opportunities. Florida has no state income tax or estate tax. Businesses are also attracted to Florida for its favorable tax climate. With that said, Rhode Island is our home base. Our clients in this state, along with our clients in Massachusetts, are very important to our firm.

PBN: How is your business evolving in Florida?

CACCHIOTTI: We are growing our client base through a lot of referrals, which we believe speaks to the caliber of service we provide. In addition to growing our high-net-worth clients, we are also attracting a lot of new business clients in that market. From Palm Beach down to Ft. Lauderdale, we continue to expand our clientele to those who are in need of the best-in-class tax planning services and forward-thinking solutions we provide.

PBN: Do you expect to continue to grow there? How about elsewhere?

CACCHIOTTI: Yes, we plan to continue growing our blueprint and taking advantage of Florida’s hot market. We are also focused on growing our client base in Rhode Island, and with clients who reside and do business in other regions throughout the U.S. Our success is rooted in our ability to continuously look for ways to be creative and innovative, and to grow and evolve, but only in strategic ways that allow us to maintain the high level of service we are committed to providing our clients.

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