SMITH SCHAFER
Meet the Member
A thoughtful business advisor is invaluable! At Smith Schafer, a local accounting and consulting firm, they provide proactive solutions, deep expertise, and personal relationships, allowing business owners more time to work on growing their business. We spoke with the Kurt Lentz, Manager at Smith Schafer, to learn more. Q: Tell us about Smith Schafer. What does your company offer to the Rochester region? A: Smith Schafer is a well-established CPA firm located in Rochester, Minnesota. With a strong local presence, our firm has been serving the Rochester region for over 50 years, and we take great pride in being an integral part of the local community. We offer expertise in various areas, including tax compliance and planning, audit and assurance services, outsourced accounting services, and business consulting. What sets us apart is our unique ability to combine the capabilities of a much larger firm with the personalized, client-centric approach typically associated with smaller practices. We believe in delivering large-firm results while maintaining the accessibility and one-on-one communication that our clients appreciate. This means that our clients can always count on us being just a phone call, email, or a short drive away, ready to offer the expert guidance they need. Q: How did it start for Smith Schafer? A : Our roots go back to 1971. Richard Smith co-founded the company in Rochester, MN. Within five years, Al Schafer joined the practice and the firm was renamed to Smith Schafer and Associates, not knowing that this six-person accounting firm would become one of the largest public accounting firms in Minnesota, with three locations and approximately 120 employees. Q: Smith Schafer has been a member of the Rochester Area Chamber of Commerce since 1970. What do you find valuable in your membership to the organization? A: The Rochester Area Chamber has played a major role in our growth as one of our founders, Al Schafer, was a member of the Chamber Ambassadors for over a decade! This longstanding affiliation has offered us the opportunity to establish vital connections with local businesses, potential clients, and community leaders through various networking events and meetings, fostering strong relationships within the Rochester region. Additionally, the Chamber's role in advocating for local businesses, providing essential resources, and promoting community engagement is invaluable.
We appreciate the Chamber's collective voice in representing our interests, the access to educational resources and market insights, and its commitment to strengthening the sense of community in Rochester, ultimately contributing to the prosperity of our city. Q: What is a unique fact people should know about Smith Schafer? A: We are a Top 200 CPA firm and the largest CPA firm that originated in Rochester! Q: What is the outlook for your business and industry? A: The outlook for Smith Schafer and the broader accounting and CPA industry is positive and promising. We are well-positioned to adapt to the evolving landscape and continue to thrive. We anticipate continued demand for financial expertise, driven by the need for sound financial advice, tax planning, and assurance services. The industry as a whole faces challenges because the number of retirees has greatly outweighed the number of accounting graduates in the past few years. By enhancing firm culture and adapting to changes in the workforce, we’ve been fortunate to stay ahead of these trends. The industry as a whole has also faced many law and accounting standards changes. In the face of regulatory changes, our expertise in navigating evolving tax laws and providing strategic business advisory services positions us to meet client needs effectively. Our commitment to maintaining a client-centric approach ensures that we will continue to build strong relationships and provide exceptional service.
To learn more about Smith Schafer, visit www.smithschafer.com
DECEMBER 2023 — ROCHESTER AREA CHAMBER OF COMMERCE ADVANTAGE MAGAZINE | 11
Made with FlippingBook Digital Publishing Software