Reid, ranked as one of the top 20 accounting firms on Long Island, has partnered with Tampa, FL-based accounting platform Crete Professionals Alliance.
Established in 2023 to provide an alternative to the traditional exit options for accounting and professional services firm owners, Crete PA partners with firms across the country, keeping their leadership, brand, and culture independent while providing access to its national back-office resources and financial backing.
“Historically, independent accounting firms have faced two options: remain independent with more limited resources or merge upstream and dissolve their identity. Crete PA’s partnership model preserves local autonomy and culture while tapping into national platform capabilities,” Crete PA said in a press release “These value-added back-office services include dedicated recruiting, finance, accounting and business analytics, legal and compliance, insurance and benefits, enhanced technology, and growth operations, and this model has led to alliances with a growing number of accounting firms with multidecade track records of excellent client service.”
Other Crete PA firm partners include RRBB Accountants & Advisors; Mendonca & Partners CPAs; Skwiersky, Alpert & Bressler CPAs; AbitOs Accountants & Advisors; and Savastano Kaufman Accountants & Advisors. Reid is Crete PA’s sixth such partner.
Reid, with offices in Long Island, New York City, and Boca Raton, FL, is a full-service tax and accounting firm founded in 1992.
Under the terms of the partnership, Reid CPAs transferred its tax and advisory business to a new entity that will just be called Reid, owned by Crete PA and the Reid partners but is not a CPA firm. Reid will provide tax and advisory services to its clients. Reid CPAs, which is separately owned and governed and remains a licensed CPA firm, will provide audit and attest services to its clients. Reid and Reid CPAs will operate in an alternative practice structure in accordance with professional standards, according to Crete PA.
“Crete PA’s partnership model offers significant benefits and services to our clients while also creating opportunities and providing additional resources for our team members,” said CEO Jason Reid Saladino. “Our partnership with Crete PA allows us to continue to manage and grow our firm while leveraging Crete PA’s capabilities to continue our growth. In particular, we believe that our next generation leadership will benefit from this partnership as we think about Reid’s long-term potential.”
Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the deal, added, “Reid was approached by numerous suitors but chose Crete PA based on the opportunities for professional growth that their associates would have. Crete PA is quickly becoming one of the fastest-growing accounting platforms in the country. They have the entrepreneurial flare and skills that many first-generation founders and high-performing partners and leaders are looking for in a strategic and capital partner.”
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