Local accounting firms disappearing in ‘upward mergers’

NEW NAME, SAME FACES: Steven Monacelli, right, co-founder of Rhode Island accounting firm Restivo Monacelli, talks with staff member Ann McQueeney. Monacelli says the firm’s acquistion by WithumSmith + Brown PC allows the agency to provide more services. Monacelli is now a partner at Withum. / PBN PHOTO/MICHAEL SALERNO
NEW NAME, SAME FACES: Steven Monacelli, right, co-founder of Rhode Island accounting firm Restivo Monacelli, talks with staff member Ann McQueeney. Monacelli says the firm’s acquistion by WithumSmith + Brown PC allows the agency to provide more services. Monacelli is now a partner at Withum. / PBN PHOTO/MICHAEL SALERNO
Cranston accountant David E. Fontes has gone through four sets of business cards, email addresses and company logos in the last 17 years. But he’s never applied for a new job. Instead, the company he works for has changed because of a series of acquisitions, turning his first job at a 20-person accounting firm into…

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