Minnesota Accounting Firm Olsen Thielen Celebrates 100 Years

The Minnesota-based accounting firm Olsen & Thielen & Co., LTD will celebrate a century of service this September. “We recognize this is a significant milestone, and we want to celebrate the clients and community we have been involved with for 100 years, because without them we would not be here,” said Patrick Powers, President of Olsen Thielen CPAs and Advisors.

Olsen Thielen CPAs and advisors provide a full menu of traditional and nontraditional accounting and consulting services that have earned rankings as one of the top 25 CPA firms in the Minneapolis/St. Paul area by Minneapolis-St. Paul Business Journal. One hundred years after establishing itself as a Minnesota accounting firm specializing in the rural telecom industry, Olsen Thielen’s client base has expanded beyond telecommunications to include an emphasis in manufacturing and distribution, medical and dental, not-for-profit, professional services, construction, and real estate, and also expanded beyond the Minnesota borders to include clients across the Country.

To mark their centennial, Olsen Thielen CPAs bypassed the traditional photo of their leadership team and chose instead to highlight their most valued commodities — trust and community since 1921. “Olsen Thielen does not manufacture a product to be shipped to customers; we are in the relationship-building business,” said Powers. “Individuals buy the trust our services provide and become valued members of our community.”

In another unique step that differentiates Olsen Thielen has been their extensive Advisory Video Gallery. Click on the link to see three-to-five-minute length segments where experts break down the jargon and explain the most pressing banking and business issues. Recent titles include, “Guidance on PPP Loans of $50,000 or less,” and “Preventing and Addressing Fraud in Your Business.” Olsen Thielen began offering these videos to clients, prospects and referral services. The interest from professional organizations in sharing these videos has grown exponentially with more than 35,000 impressions since inception and the videos have provided a trusted source of guidance during the recent pandemic.

During the COVID-19 crisis, relationships became even more critical as Olsen Thielen had to learn how to adapt right along with their clients.

“We pivoted very quickly to learn how to work better remotely and how to take all our technology on the road,” Powers said. “There were certainly some minor bumps in that transition, but we were up and running quickly without a gap in our client services.”

There will be no grand parades scheduled for the 100th anniversary. The firm did produce a commemorative animated video that takes viewers through Olsen Thielen’s history along with a humorous review of changing fashions. And the website tells a more personal history of the firm.

While the company acknowledges it is a special year, Olsen Thielen plans to take a simple approach that focuses on the relationships it has built over the years. “We are not focused on one day or one year, but rather a milestone that is part of our brand,” said Powers. “We are proud of our past, with reverence to our founders who strove through the Great Depression and various recessions to help position us where we are today.”

Looking past those first 100 years, Olsen Thielen sees technology-driven improvements in the accounting world and more advisory services coming to the forefront. Doing so will require a continued focus on trust and building good relationships.

“Our job will continue to be serving as a trusted resource for our clients,” said Powers. “We are here to give our clients guidance and that only comes from having a relationship with someone you trust.”