Finance Articles

Two Upstate New York Regional Accounting Firms Join Forces

Rochester, NY (PRWEB) November 20, 2007 -- Eldredge, Fox & Porretti, LLP, a company of EFP Group, and Carnevale Niles Whitney & Davis, P.C. announced today that they are merging operations. The combined regional accounting firm will operate under the name Eldredge, Fox & Porretti, LLP and will have a staff of 75, with offices in Rochester, Canandaigua, Elmira, and Corning.

EFP Group currently has offices in Rochester and Canandaigua. With the addition of Carnevale's partners and staff and its offices at 150 Lake Street in Elmira and 2-8 Denison Parkway in Corning, the newly merged firm will have a solid presence in both the Rochester/Finger Lakes and Southern Tier/Northern Pennsylvania regions.

"It's our intention to grow our presence in the Carnevale region," says Robert Porretti, Chairman of EFP Group. "We see significant opportunity for EFP Group to bring the strengths and specialized expertise of a larger firm to individuals, businesses and institutions throughout Southern New York and Northern Pennsylvania. In particular, we'll be targeting organizations with needs too large for Carnevale to have tackled on its own." All current members of the Carnevale staff will become employees of EFP Group.

Along with a wider geographic reach comes a broader range of expertise available to clients of both firms. EFP Group provides a comprehensive range of services, from tax preparation and planning, to wealth management, business consulting, forensic services, litigation support, and contract auditing. Carnevale's CPAs have particular expertise in the government and non-profit sector and also offer peer review services to accounting firms throughout New York State and Pennsylvania.

"We've known and collaborated with the experienced professionals at Carnevale for almost a decade. We've come to respect and admire their deep commitment to their clients. Their values, grounded above all in honesty and integrity, are fully aligned with our own. Like us, they place a premium on delivering the highest caliber of client service possible and in always keeping their promises," says Timothy McNamara, managing partner of Eldredge, Fox & Porretti.

Carnevale, in business for more than 55 years, is known for providing a high level of service to its individual and corporate clients. That won't change, according to Richard Niles, principal and president of Carnevale. "Eldredge, Fox & Porretti is an outstanding firm whose employees always place their clients' needs above all. We know that they're extremely well regarded in the Rochester/Finger Lakes market," says Niles. "By joining forces with them, we maintain our commitment to client service and will also be able to provide our clients with a wider array of services and expertise. We expect that to be to our clients' advantage as they grow their businesses."

EFP Group is at the forefront of utilizing the latest technology for the benefit of its clients, something Richard Davis, principal at Carnevale, believes that his firm's clients will find of particular value. Says Davis, "Technology helps keep costs under control. Continually evolving standards bring increased complexity and increased costs. As we move toward the EFP Group standard of a paperless office, additional costs associated with complying with the latest standards can be kept to a minimum."

EFP Group is the exclusive Rochester/Finger Lakes region member of CPAmerica, an invitation-only group of 75 independent accounting firms that share high-level expertise across the nation. CPA Connect is an affiliated network of smaller accounting firms to which Carnevale belongs. As fellow members of the networks, the two firms have collaborated on client projects for nearly a decade.

EFP Group provides accounting, auditing and tax preparation, forensic services, litigation support and contract auditing as well as wealth management services for individuals and business consulting for companies and professionals. The firm includes:

?    Eldredge, Fox & Porretti, LLP--This firm of Certified Public Accountants and Business Consultants was the first EFP Group company.

?    StoneBridge Business Partners--Formed in 1994, and based in Rochester, it offers specialized internal and contract auditing services throughout the United States.

?    EFP Wealth Advisors, LLC--Founded in 2002, it offers investment, insurance, financial planning and employee benefit advisory services.

Following the merger with Carnevale Niles Whitney & Davis in October of 2007, EFP Group now has offices in Rochester, Canandaigua, Elmira, and Corning, NY.

Contact:

Timothy McNamara, CPA

Managing Partner

EFP Group

585-427-8900

mcnamtj @ efpcpa.com

###

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