Then & Now: Todd Wisdom reflects on 3 decades in accounting

Editor’s Note: The following story appeared in the May 6 issue of the Northwest Arkansas Business Journal. “Then & Now” is a profile of a past member of the Business Journal’s Forty Under 40 class.

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Todd Wisdom has worked in various roles and taken on numerous responsibilities in his 33-year accounting career. He’s most enjoyed the clients as a CPA over the past three decades.

“What I’ve enjoyed about public accounting is the job changes,” he said. “You get to be involved with a variety of clients and industries. You get to see a lot of different things. You get to work with some of the best members of the communities you serve. You get to meet a lot of neat people: CEOs (and) CFOs.”

Wisdom, 56, started in public accounting in 1991 and became a CPA in 1994. The Tulsa native moved to Northwest Arkansas in 1999 when he worked for Arthur Andersen. In December 2001, he left the firm after working there for over 10 years and joined Tullius Taylor Sartain & Sartain LLP in Fayetteville.

He started there as a manager. About two years later, he became a partner and, two years after that, an owner. He was the partner in charge of Northwest Arkansas at Tullius Taylor Sartain & Sartain when the Northwest Arkansas Business Journal named him to the Forty Under 40 class in 2007.

Since then, the firm has merged with two other CPA firms and rebranded to HoganTaylor LLP. He’s changed offices over the period but still works in Fayetteville. The company also has offices in Little Rock, Oklahoma City and Tulsa. The Fayetteville office is the firm’s smallest, with about 30 employees.

According to Inside Public Accounting, the Tulsa-based firm is ranked No. 82 in the United States with revenue of $63.18 million. It ranks the top 500 CPA firms based on revenue.

About five years ago, Wisdom was named to his existing role as growth leader and partner. Recently, his responsibilities have changed as he’s transitioned from assurance partner.

“Being the growth leader of the firm, I’m more focused on a variety of things,” Wisdom said. “I’m responsible for our marketing group. The chief marketing officer reports to me. We’ve transitioned that into a growth department.”

About two years ago, he worked with the chief marketing officer to improve customer experience regarding the firm’s services.

“We’ve added services like human capital strategies, and I’m also in charge of the wealth practice,” he said. “I was put in charge of that a few years ago to help realign it and grow the wealth practice.”

Wisdom also serves on the firm’s strategic services team, which works closely with the CEO. One of his responsibilities comprises mergers and acquisitions, and he is involved in the firm’s M&A strategies. He said its two mergers were instrumental in helping the firm grow in its markets.

Recent industry trends comprise consolidation and private equity companies investing in CPA firms. Another trend has been companies right-sizing client bases.

The firm has more than 10,000 clients, from people to corporations. Some more prominent clients in Northwest Arkansas include Crafton Tull, Crystal Bridges Museum of American Art, Harps Food Stores and the University of Arkansas Foundation. The firm has nearly 50 partners.

Wisdom works closely with the partners, helping them with growth and development. That might include growing clients, departments and offices. He added that he’s the first person in the growth leader role, and it’s unique to the same position at other firms.

“We’re focused on profitable growth,” he said. “We want those revenues to be profitable.”

Over the past decade, the firm has worked to become more advisory and business-focused, offering additional services instead of referring clients to others who do. In the coming years, Wisdom expects artificial intelligence to be significant to the accounting industry and its ability to evolve in a remote workplace.

Career highlights include helping to lead the firm’s direction and being a part of “a phenomenal team.” He’s a HoganTaylor Foundation supporter and an American Institute of CPAs member.

He and his wife, Janice, have two grown children and reside in Springdale. They enjoy traveling and going to Disney World in Orlando, Fla.