Michael M. Tikoian is the office managing partner for Marcum LLP’s new Providence location, following its recent merger with Piccerelli, Gilstein & Co., where he also served as managing partner. He spoke with PBN about the decision to join forces with Marcum and what that means for Piccerelli clients.
PBN: What inspired the decision to merge with Marcum?
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TIKOIAN: Like many accounting firms, we had been faced with unpredictable busy seasons and a challenging shortage of staff these past few years. We really wanted to make the best decision for the long-term benefit of PG&Co. employees and clients. For 46-plus years, we were dedicated to providing clients with exceptional service, and we did not want to compromise on that commitment. Once we learned about Marcum’s culture and all they had to offer, we knew they were the right fit.
PBN: How will the merger affect services for clients?
TIKOIAN: Our clients will benefit from added industry services and more team support. Marcum also is a leader in technology and professional learning, and their high ethical standards mirror our own. Additionally, our clients will be able to take advantage of Marcum’s industry summits, technical seminars and updates like the annual year-end tax webinars, as well as participate in community and social events.
PBN: What does the merger mean for employees/local offices?
TIKOIAN: Employees will benefit from a deeper pool of professional resources, such as Marcum U and Marcum Associate Resource Groups. Marcum is highly focused on ensuring that all associates have the opportunity to be their very best, to explore different interests, to see a clear path to leadership. Employee well-being and career success are top priorities.
PBN: Piccerelli was one of the last independently owned firms in R.I. What made the firm hold off on any upward mergers until now, and what about the Marcum deal made you agree to merge?
TIKOIAN: As recently as this past fall, we had every intention of remaining independent. We managed well through the pandemic, but we saw the toll it took on everyone. The most significant challenge has been staffing in certain key positions needed for growth and to maintain future independence; our bench just wasn’t deep enough.
PBN: Are there any disadvantages or potential downsides to losing local control of the firm?
TIKOIAN: The partners do not see any disadvantages or a loss of control. We will continue to be the contacts for our clients and to provide them with the services they need, same as always; that won’t change. We only saw an upside to the merger. We believe it was the best decision for everyone.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
