MEMBER PROFILE

Communication and Engagement Key to Dopkins’ Success as Trusted Advisor

BY COURTNEY KLESS

Dopkins & Company, LLP started in 1955, with Leonard Dopkins doing personal tax returns at his kitchen table.

It has since grown into one of the largest independent firms in Western New York.

“It was the pursuit of attracting clients that have complex business issues, value high-quality CPA services and our strategy to serve those clients with ‘top talent’ that grew the firm into what it is today,” said Andrew Reading, a CPA and a partner with the firm. “We definitely have a client type, and it’s clients that are looking for and value both compliance and advice, so that’s why we’re certified public accountants and consultants.”

These days, food and beverage, specifically dairy, is one of the largest segments of Dopkins & Company’s industry focus. Its clients sell dairy products ranging from fluid and powder to cheese and yogurt (both branded and under a private label), working with more than 6 billion pounds of milk each year.

The firm offers a variety of services for those clients: audit and other assurance matters; tax consulting and compliance, internal controls and fraud risk mitigation, accounting/financial reporting, cybersecurity risk assessments, testing and employee training, client accounting and advisory services, billing and collections, vendor disbursements, inventory costing, reporting and analysis, merger and acquisition assistance, review of co-manufacturing arrangements and governmental dairy reporting. It is also associated with Dopkins Wealth Management, a separate business that focuses on financial planning, wealth management, estate planning, retirement planning and portfolio analysis.

“When you start to think about holistically being an advisor to an individual and their business, it’s kind of that comprehensive, full-spectrum relationship,” said Reading.

Another way Dopkins & Company serves its clients is through active engagement in meeting with clients about their business opportunities and challenges throughout the year. This level of proactive communication and engagement are key ingredients to successfully serving as a trusted advisor. Dopkins is so passionate about communicating and staying engaged with clients, that these interactions are included in our fee arrangements.

“In doing so, we find our clients routinely communicate with us on business matters as there is no concern of being on the meter as typically found with professional service firms,” said Reading.

But, what makes Dopkins & Company truly unique is its one firm approach.

“We’re significantly different than most CPA firms,” said Reading. “A lot of firms are organized where partners work in

By serving as a firm, we really do serve in teams. It breaks down a lot of those barriers, and so our clients are always getting a specialist in the respective practice area of need.

silos and have books of business. Our firm does not follow a book of business models, but instead we follow a client-service model. We are compensated as a firm, rather than as partners individually. By serving as a firm, we really do serve in teams. It breaks down a lot of those barriers, and so, our clients are always getting a specialist in the respective practice area of need.”

There is a significant transformation occurring in the accounting/finance functions of businesses. This transformation has been underway for a few years but has been accelerated as a result of the pandemic induced labor market challenges. Businesses are revaluating the optimal design of their accounting/finance functions in terms of people – how many, how often – and the technical expertise required in addition to the technology stack required to support the business. This transformation has been of significant interest to clients, and Dopkins & Company is routinely advising on these matters in the accounting/finance functions to optimize labor resources, ensure scalability of processes and controls, provide real-time visibility of financial performance and risk mitigation.

Moving forward, Dopkins & Company intends to continue building on its successful, team-oriented model.

“As a trusted advisor, we can demonstrate and deliver a lot of value to our clients and help them make better management decisions through the work that we do, and, in a lot of cases, drive profitability and growth for their businesses,” said Reading. “I think that over the next five to 10 to 15 years, we’re going to continue to see the role of the CPA deepen as a trusted advisor, especially to our dairy clients, where the marketplace can be tough at times. And we think businesses that have the right systems, processes, and data analysis will be better suited to navigate the dairy industry as the competition and the overall business environment continues to evolve.”

Courtney Kless is a staff writer for Northeast Dairy Media.