UHY ADVISORS NY CELEBRATES 50 YEARS IN BUSINESS


Accounting and business consulting firm founded in Albany in 1964

Albany, New York – UHY Advisors NY, which began in 1964 in a small office on Colvin Avenue in Albany, New York, and expanded to become part of the network that comprises one of the 20 largest accounting firms in the country as reported by Accounting Today, is marking its 50th anniversary in 2014.

            “We’re proud to celebrate 50 years of service in New York and look forward to carrying on the tradition of excellence set forth by our firm’s founding fathers a half century ago,” said Michael Mahoney, President and CEO of UHY Advisors NY. “It’s a testament to our employees, past and present, that we’ve continued to flourish throughout the changing business climate locally, nationally and globally.”

            “Fifty years ago our firm established itself through our commitment to trust, credibility and integrity in responding to client needs,” said Howard Foote, Managing Partner of the company’s Capital Region headquarters. “This tradition continues today. We’re thrilled to celebrate 50 years in business and look forward to furthering UHY’s commitment to providing the next level of service.”

            The following timeline documents UHY’s growth from its earliest days in the Capital Region to a leading professional services firm providing tax and business consulting services for a half-century in New York.

1964: Urbach, Kahn and Werlin (UKW) form as a result of amerger between Capital Region natives Howard Kahn and Eli Werlin, Alice Blanchard and New York City native Sidney Urbach, who taught Kahn and Werlin at Siena College. UKW opens offices at 40 Colvin Ave. in Albany with 17 employees.

Pencils, 13-column paper and mental calculation were the primary tools of the trade. Accountants would get an assist from a Burroughs calculator in the office or using a client’s machine if they had one.

1967: Texas Instruments introduced the handheld calculator, but it would be nearly a decade before they were reasonably-priced for general use.

1968: UKW began its first use of computers for individual tax returns. This process involved filling out massive forms which were sent to Springfield, Massachusetts for processing.

Corporate and partnership returns were still prepared with pencil and copied on a Bruning machine. Financial statements were prepared by hand, usually during fieldwork and were brought to the office for report review and typing on the IBM Selectric typewriter or manual typewriters. Statements were typically printed on onionskin, the most durable paper of the time.

1971: The first American-made pocket calculator, the Bowmar 901B (known as the Bowmar Brain), retails for $240. UKW incorporates its use the following year.

1974: UKW moves its headquarters to 66 State St. in Albany with expanded staff including separate areas for audit, accounting services and tax departments.

Technology started to improve in the early- to mid-1970s. Accountants would carry 20-pound, Olivetti 10-key adding machines into the field along with an audit bag full of papers. Even after calculators became more prevalent, accountants still relied on adding machine tapes, which provided documentation and were saved as part of extensive paperwork files.

Late 1970s: Technology had become critical to the operations of every accounting firm. Tools included personal computers at every desk as well as in the field.  The “paperless” era began in earnest with programs for audit work and tax preparation, IDEA software for sampling and modeling, and a wide range of other computer tools. 

Technology began to play a major role when accountants took their first Osborne portable computers to client meetings.

1978: William Kahn, who joined UKW in 1976 and is the son of UKW co-founder Howard Kahn, opens a UKW office in Springfield, Mass., to manage a significant government contract for the Commonwealth of Massachusetts. This office marks UKW’s first office outside of New York State.

1982: Stephen Fischer becomes Managing Partner of the firm.

UKW opens a New York City office under the leadership of John Wolfgang, an Albany native and UKW employee since 1968.

1985: UKW headquarters at 66 State St. in Albany is renovated and expanded with a $3.2 million restoration.

1986: The New York offices begin an international affiliation between UKW and Hacker Young in the United Kingdom, co-founding UHYI, which today links 275 cities across 87 member nations and includes 1,100 employees nationally and nearly 8,000 internationally.

UKW implements a computerized practice management system for all offices, including e-mail, tax software and a quality control program for oversight of audit and other programs.  

1990: UKW begins the decade as one of the 30 largest firms in the United States with offices in Albany, Glens Falls, Poughkeepsie, New York City and other locations. Under Howard Foote’s leadership, the financial service practice grows to include several banks and credit unions. The firm also expanded its government practice, adding several quasi-State entities as audit clients.  Closely held businesses in manufacturing, construction, engineering and several other areas also engaged UKW for auditing, consulting and tax services.

1999: Troy native Michael Mahoney, who joined UKW in 1985, is named head of the firm’s New York City office.

2000: UKW partners with six other financial services and information technology firms to form national financial services entity Centerprise Advisors, which later evolves into UHY Advisors, Inc.

UHY Advisors NY represents the Northeast operating division of UHY Advisors, Inc.

UHY Advisors NY begins providing wealth management services under the leadership of Michael Zovistoski, now a Managing Director of UHY Advisors NY.

2004: Richard (Dick) Kotlow is named President and CEO of UHY Advisors NY. Kotlow, a Capital Region native, began his career with UHY in 1972. Howard Foote, the Chief Operating Officer, and John Wolfgang are named Managing Partners of UHY NY LLP (collectively the New York GEO).  

2006: UHY Advisors NY launches its China Group to assist U.S. multinational companies with business operations in mainland China, Hong Kong and Taiwan as well as to advise China-based companies that do business in the U.S.

2010: UHY Advisors NY moves its Albany office to 66 South Pearl Street, across from the Times Union Center.

2012: UHY Advisors NY opens its Beijing office which offers tax and business consulting services for companies located within or with interests in the Greater China Region.

2013: Michael Mahoney is named President and CEO of UHY Advisors NY following the retirement of Dick Kotlow. Howard Foote is named Managing Partner of the firm’s Capital Region office. Foote, a Capital Region native who also serves as UHY Advisors NY Chief Financial Officer and Treasurer, began his career with UHY in 1976.

2014: UHY Advisors NY celebrates its 50th anniversary with offices in Albany, Manhattan, Rye Brook and New Haven, CT. The firm employs 84 certified public accountants and professionals. It serves as the New York operating platform of UHY Advisors Inc., ranked as one of the Top 20 professional services firms providing tax and business consulting services in the country by Accounting Today. 

 

About UHY LLP

UHY LLP, a licensed independent CPA firm in New York, performs attest services through an alternative practice structure with UHY Advisors.  UHY LLP conducts operations in New York as a subsidiary of UHY Advisors, Inc. The firm also has offices in: Albany, NY, New Haven, CT,  Farmington Hills, MI, Oakland, NJ, Chicago, IL, NYC, NY, Atlanta, GA, Sterling Heights, MI, Dallas, TX, Washington, D.C., Rye Brook, NY, Columbia, MD, St. Louis, MO, and Houston, TX. UHY Advisors, Inc. and its subsidiary entities have nearly 1,000 professionals providing services from offices throughout the United States. UHY Advisors is ranked as one of the Top 20 professional services firms providing tax and business consulting services in the country by Accounting Today. 

UHY LLP and UHY Advisors, Inc. are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. For additional information, please visit their website at www.uhy-us.com.