Marcum LLP and Competitor Profile
Marcum LLP Overview
Marcum LLP is a leading national accounting and advisory services firm, known for its commitment to supporting entrepreneurial, middle-market companies and high-net-worth individuals. Founded in 1951, the firm is headquartered in New York City and delivers a wide array of services. These include tax, assurance, advisory, valuation, forensic and litigation services, as well as technology consulting. Marcum's mission is to leverage its deep industry expertise to guide clients in achieving strategic objectives and addressing business challenges. The firm's recent integration into CBIZ enhances its capability and reach within the accounting and advisory sector.
Core Services Offered
- Tax & Business Services: Inclusive of advisory and regulatory compliance, international tax, wealth management, and tax controversy resolution.
- Assurance Services: Encompasses audit, attestation, and transaction advisory services for both publicly traded and privately owned companies.
- Advisory Services: Assist companies in overcoming complex challenges with long-term advisory relationships, such as financial process improvements and restructuring services.
Industry Specialization
Marcum LLP has established a strong industry-focused practice, offering specialized expertise across multiple sectors:
- Financial Services
- Real Estate
- Technology and Digital Assets
- Healthcare
- Media, Gaming, & Entertainment
- Cannabis
Management and Leadership
Jeffrey Weiner holds the position of Chairman and CEO, spearheading the firm's growth and establishment as a national powerhouse since 1990. Under his leadership, Marcum is noted for its high client service standards and community impact.
Peter Scavuzzo serves as the CEO of Marcum Technology and is the Chief Information & Digital Officer for Marcum LLP. He plays an integral role in advancing the firm's technology consulting, integrating solutions such as AskMarcum.ai.
Recent Developments
In November 2024, Marcum was integrated into the CBIZ framework, expanding its array of services and enhancing its offerings to middle-market businesses. This strategic move is designed to foster innovation and growth.
Global and Local Presence
Marcum operates in major U.S. business hubs including Los Angeles, Boston, and Miami, as well as international locations like Toronto, Dublin, and Grand Cayman, allowing them to provide services both domestically and internationally.
Commitment to Diversity and Community
Marcum is committed to promoting diversity, equity, and inclusion via initiatives like the Marcum Women’s Initiative and the Marcum Foundation, which focuses on health and welfare for children. These initiatives highlight the firm’s dedication to making substantial community impacts alongside business excellence.
Industry Standing
Marcum LLP ranks 13th in the Inside Public Accounting's Top 500 CPA Firms, with an impressive annual revenue of approximately $1.32 billion. It holds a position in the Top 15 in the 2023 VAULT ACCOUNTING list, distinguishing itself in a competitive market alongside notable firms such as PwC.
Mergers and Acquisitions
The firm actively expands its operations through strategic acquisitions, having acquired fourteen firms to broaden its service portfolio and extend its market reach.
Competitive Landscape
Key Competitors
1. Pilot: Offers comprehensive accounting solutions, presenting direct competition to Marcum.
2. EisnerAmper: Competitor with a strong portfolio in auditing, accounting, and tax services.
3. Baker Tilly: Provides customized business solutions focusing on advisory, tax, and assurance services.
4. Citrin Cooperman: Known for its auditing, tax, and advisory offerings.
5. Deloitte Consulting: Large competitor offering extensive services in audit, consulting, financial advisory, risk management, and tax.
6. Moss Adams LLP: Specializes in tax, accounting, and financial advisory services.
Key Competitors' Insights
- Pilot: Though primarily involved in alternative sectors, it is a significant competitor with its diverse service offerings.
- Baker Tilly: As one of the top 10 U.S. accounting firms, it aims for growth and sustainability bolstered by strategic leadership and transformative services.
- EisnerAmper: Maintains a strong focus on audit, accounting, advisory, and tax, ensuring robust ethical standards and relationship-building.
Marcum LLP operates within a competitive environment alongside major players focusing on audit, tax, and advisory services. Its strategic acquisitions, consistent revenue growth, and understanding of competitors' strengths are essential to sustain and enhance its market position.
