2008 Economic Impact Awards Finalist, CPA Firms: Whitlock, Selim & Keehn

The 23-year-old accounting firm literally has its future mapped out.

Now one year into its own five-year strategic plan, WSK is targeting growth of 12 percent to 15 percent a year, completing its first-ever merger in early 2007 and expanding into the tri-state region in May of this year.

WSK merged with the firm of Patricia C. Stoner, CPA, PC in January 2007, adding clients and a sixth partner in the form of Patti Stoner.

Less than 18 months later, the firm entered the tri-state market with the addition of three Joplin area accountants – Brad Baker, Jay Logal and Mark Lamb – and an office in Webb City. Baker, WSK’s seventh partner, will head the new office.

With seven partners and 35 employees, 18 of whom are certified public accountants, WSK is well on its way to realizing its strategic goal of nine partners and 50 employees by 2012, says Managing Partner W. David Myers. In 2007 alone, the company’s revenues grew 18 percent to $3.3 million.

WSK’s reach is regional, and it provides accounting, audit, tax and business consulting services to clients within a two-hour drive of its southwest Missouri offices. That has included Lake of the Ozarks, West Plains and Branson, but through its Webb City office, its services will branch into Oklahoma and Kansas.

WSK’s business consulting services include strategic planning, estate/succession planning, employee benefit plan administration, business valuation and litigation support.

A significant niche for WSK is community banks, and the company ranges farther afield for that line of business – up to five hours from Springfield – providing a slate of services tailored to banks’ needs.

“We provide traditional tax and audit,” Myers says, “but more importantly, where we’re different is we provide loan review, internal audit and IT exams, which are all things banks need that haven’t traditionally been provided by CPA firms.”

Tough economic times haven’t had much impact at WSK. “We’re busier than we’ve ever been with our current client base,” Myers says. He noted that he has seen an uptick in merger and acquisition activity among his clients, which may be a reaction to the economy.

The firm’s impact on the local community is significant, from helping entrepreneurs start and expand their businesses to hiring and developing area college students and providing volunteer service and support for local nonprofits.

WSK offers three to four internships a year and recruits heavily from Springfield’s universities. With its expansion into the tri-state area, Myers says, WSK also will be recruiting students from Missouri Southern State University.

WSK accountants volunteer their expertise, serving on a number of community boards, and the firm has built a particularly satisfying relationship with Special Olympics.

“We were the main sponsor of the Special Olympics,” Myers says. WSK recently sponsored the Special Olympics dinner and opening ceremonies, and employees logged a lot of volunteer hours during the events.

“People say, ‘Oh, this is great!’” says Jennifer Corner, WSK communications director. “Some of them even … went a second day to volunteer.”

Myers says employees are talking about adopting Special Olympics as the official firm charity.

Whitlock, Selim & Keehn LLP

Address: 3721 E. Battlefield Road, Ste. 300, Springfield, MO 65804

Web: www.wsk.com

Employees: 35

2007 Revenues: $3.3 million

Information accurate at the time of the honor.