WTP Advisors
WTP Advisors is an international-tax advisory and consultancy firm. Inc. Magazine ranked the company as one of the fastest growing businesses in the United States in 2011 and 2012. The 2012 Inc. 500 and 5000 survey ranked WTP Advisors at 1,184; within the business products and services category, the company ranked 75th. The company was founded in 2005 by Ian Boccaccio, Michael Minihan, David Wain and James Fyhrie all former employees of PricewaterhouseCoopers. The partners saw an opportunity to provide international tax consulting for small and medium businesses and be competitive with the “Big Four” accounting firms: PricewaterhouseCoopers, Ernst & Young, Deloitte Touche Tohmatsu and KPMG.
History
Ian Boccaccio, Michael Minihan, David Wain and James Fyhrie founded WTP Advisors in 2005. The company was originally known as Worldwide Trade Partners LLC. The founders planned to meet the tax advisory and compliance needs of small multinational companies. Boccaccio, Wain and Fyhrie formerly worked in the Quantitative Solutions division of PricewaterhouseCoopers, while Minihan served as a senior international tax advisor.
The early goal of WTP Advisors was to offer small companies a more efficient and affordable tax solution than that offered by any of the Big Four accounting firms. The partners believed that matching dedicated experts with each client, rather than temporary consultants or fresh college graduates, represented a more compelling business model. Early expansion of WTP Advisors included the opening of offices throughout the United States in locations such as Minneapolis, Chicago, Denver, and Cleveland.
Operations
WTP Advisors is headquartered in White Plains, New York, and has offices in cities across North and South America, Asia, and Europe. The company operates both a tax advisory and business advisory service. Major client industries include consumer products, defense, digital media, manufacturing, real estate, asset management, technology and pharmaceuticals.
Growth
Beginning in 2010, WTP Advisors’ growth strategy included the creation of referral and affiliate programs throughout the world’s major economic markets. Programs in Canada, France, Spain, Ireland, Australia, and Japan connected global corporations with the services of WTP Advisors.
Early 2012 witnessed further growth for WTP Advisors. Firms in Argentina, Brazil, India, Indonesia, Korea, and the Philippines joined the affiliate program. From its four founders, WTP Advisors grew to 26 consultants in 2008. By 2009, that number had grown to more than 40. As of early 2012, WTP Advisors employed 75 tax and finance professionals.
A primary factor that drives growth for WTP Advisors is a demand for highly skilled tax and financial professionals.
Avalon Lake Partners
In September 2012 WTP Advisors announced that Lou Sala, Jay Goldstein, and Ilicia Silverman would be leaving the firm to establish Avalon Lake Partners. The new firm offers advisory services primarily for hedge funds, private equity, and single family offices. In early 2012 the Avalon Lake team released a software reporting tool that can be used for filing Form PF, a regulartory reporting obligation used to measure systemic risks in U.S. markets. Avalon Lake Partners is headquarted in New York City is and is led by CEO Lou Sala.
Philanthropy
Through the VITA (Volunteer Income Tax Assistance) program, WTP employees donate their time to help low-income individuals file income tax returns. The company also provides support to Streetwise, an organization focused on helping underprivileged students earn college admission.
WTP Advisors also contributes monetary gifts to DOMUS, a local non-profit group that provides help for needy children and families. DOMUS operates charter schools and residential programs that give physical and emotional support to low-income individuals.
The tournament program at Sterling Farms Golf Course is sponsored in large part by contributions from WTP Advisors. The course is located in nearby Stamford, Connecticut, and is rated as one of the best public courses in the state. With the sponsorship of WTP Advisors, citizens are able to compete on the course at deeply discounted rates.