UTICA — The two partners and four employees of Feldman & Company CPAs, LLP, a Utica–based accounting firm, will combine with D’Arcangelo & Co., LLP in a deal that takes effect July 1.
D’Arcangelo & Co., which is also headquartered in Utica, is an accounting, auditing, taxation, and consulting firm that has operated for 70 years.
Feldman & Company includes partners Alfred (Fred) Kupiec, Jr. and Ryan Siepiola along with four additional employees, according to Robert Ritz, managing partner of D’Arcangelo & Co.
The firms did not provide any financial terms of their merger agreement.
Kupiec has more than 30 years of experience overseeing audit, accounting, and tax services for clients that include individuals and privately held companies, per the Feldman website.
“It’s really a succession plan for Alfred,” says Ritz, who spoke with CNYBJ on June 23.
As Ritz explained it, the individual who preceded him as managing partner started the discussions a few years ago, but those talks did not generate an agreement.
“In the fall [of 2019], the talks started back up and that’s when we came to an agreement,” says Ritz.
The two accounting firms finalized the pact in the beginning of 2020, he adds.
The combined company will have 18 partners, a group that will include Feldman partners Kupiec and Siepiola. As of July 1, D’Arcangelo & Co. will have 80 employees, including the additions from the Feldman firm.
Kupiec, Siepiola, and the entire Feldman staff will work from D’Arcangelo’s Utica office. The Feldman firm currently operates at 246 Genesee St. in Utica.
The D’Arcangelo firm will continue conducting business as D’Arcangelo & Co., LLP with offices located in Utica, Rome, Oneida, and Syracuse.
Ritz calls the Feldman partners and employees a “great cultural fit” for the D’Arcangelo firm.
“I think both firms share the same vision, the same attitudes toward our clients, toward our employees,” says Ritz.
The D’Arcangelo firm’s services include auditing; tax preparation, both for businesses and individuals; business valuations; business consulting; and matters pertaining to estates and trusts, per its website.
The late Rick D’Arcangelo, a native of Rome, launched the firm in 1950 in New York City before returning to the Mohawk Valley to open an office under the same name, according to Ritz.