Becoming Employee-Owned: How BDO Broke Out of the Partner Model
Earmark Podcast | Earn Free Accounting CPE · Blake Oliver, CPA
Audio is streamed directly from the publisher (op3.dev) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Wayne Berson, CEO of BDO USA, joins Blake and guest host, David Leary, to discuss BDO's recent transition to an employee stock ownership plan (ESOP), making it the first major accounting firm to implement an ESOP structure. They discuss how the ESOP aims to attract and retain talent in the accounting profession and provide employees at all levels with an ownership stake in the firm.
Chapters
- (00:44) - Why do an Employee Stock Ownership Plan(ESOP) now?
- (09:06) - BDO borrowed $1.3 billion - what is that money for?
- (14:52) - How will ESOP benefit staff?
- (19:06) - Is there a way to pull money out of the ESOP without leaving?
- (29:15) - How do you become a partner at BDO?
- (31:25) - What are my options when I'm a partner at BDO?
- (35:54) - What are your thoughts on the talent shortage and the 150-hour rule?
- (47:47) - What advice do you have for other firms thinking of becoming an ESOP?
https://earmarkcpe.com
Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app
Connect with Our Guest, Wayne Berson
LinkedIn: https://www.linkedin.com/in/wayneberson/
Learn more about BDO
Website: https://www.bdo.com/
Connect with Blake Oliver, CPA
LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/