In the summer of 1984, a small group of 12 visionaries set out to build something different in the business world – a firm where clients were partners, innovation was driven by need, and a human-centric culture nurtured growth and expertise. Brentwood, Tenn.-based LBMC PC (FY23 net revenue of $192.7 million) was born from this vision, and 40 years later, it stands as a testament to the power of unwavering dedication to clients, talent and community.
“From the beginning, our mission was never to be the biggest, but to be the best. To build a firm that not only excels in accounting and business consulting but deeply understands and adapts to the unique needs of our clients,” said David Morgan, co-founder of LBMC. “Our growth and the success of our clients are a testament to our relentless pursuit of excellence and our commitment to building lasting relationships.”
Today, LBMC has grown into a nationally recognized business consulting firm with over 11,000 clients known for its expertise in audit and accounting, tax and business consulting, human resources, technology and wealth advisory services.
“Our 40th anniversary is due to the trust and loyalty of our clients, the dedication of our team members, and the ongoing support of our communities,” said Jim Meade, CEO and managing shareholder. As only the second CEO outside of the founders in LBMC’s 40-year history, Meade’s leadership marks a significant evolution for the firm. “LBMC’s biggest referral source is our clients, and we are so proud of that. It means we are focusing on the right things. As we embark on the next chapter of our journey, LBMC remains committed to staying ahead of the curve and leading the way as the firm of the future.”
Founded as a traditional accounting firm, LBMC evolved as clients’ needs evolved. Today, LBMC encompasses seven specialty companies, each offering unique niche services. The LBMC Family of Companies includes LBMC PC, LBMC Employment Partners, LBMC Investment Advisors, LBMC Physician Business Solutions, LBMC Procurement Solutions, LBMC Staffing Solutions, LBMC Technology Solutions and LBMC W Squared.
LBMC Co-founder Mike Cain said, “Part of what contributed to our growth was simply articulating a core purpose and core values: extraordinary competence, absolute integrity, high expectations and accountability, continuous learning and innovation, and respect and concern for our people, clients and community. We had some great conversations. We listened to what was keeping them up at night and brought in solutions in the form of niche companies that had the same priorities as we did.”
“As LBMC proudly marks its 40th anniversary, we look ahead with a clear and ambitious vision for continued growth and innovation,” said Meade. “This year, our focus is on strategic acquisitions and related activities that align with market demands, as demonstrated by last year’s acquisition of Strothman and Co. in Louisville. This strategic move not only expanded our health care and manufacturing expertise but also brought in top-tier Client Accounting Services (CAS) specialists and deepened the bench in the tax and audit space.”
Celebrating its 40th anniversary, LBMC is more focused than ever on its future. “We are doubling down on our commitment to community and client support,” said Meade. “Staying true to our North Star, we proactively identify trends and craft solutions for our clients, often before they even recognize the need. This forward-thinking approach has been our winning recipe for the past 40 years, and we believe the best is yet to come.”
