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Dallas financial consultancy expanding into Oklahoma, Arkansas

3 min read

Financial consulting firm Embark has expanded into Oklahoma and Arkansas, according to a news release. 

The Dallas-based firm already has locations in Austin, Denver and Houston and now Oklahoma City and Tulsa. Oklahoma will also serve as the hub for the Northwest Arkansas area.

The Oklahoma market will be led by Market President Robert Grisaffe, who has extensive experience in the energy industry. Previously, Grisaffe was a partner and chief financial officer at Oak Ridge Natural Resources. 

Embark was founded in 2010 and has expanded into four new markets during the past year and a half alone.

Embark’s Chief Executive Officer Clancy Fossum said that, when he joined the firm in the summer of 2016, it had about a dozen employees. Now, the firm has more than 110 employees and has grown to $14 million in revenue year-to-date. 

Fossum spoke with the Dallas Business Journal about the firm's growth and where he sees the company in the future:

Where do you see the firm at this time next year?

Every year I think it's going to get harder to more than double our headcount and our revenue numbers, but every year we continue to do that. I'd expect this time next year we'll probably have another office or two opened. We'll probably (be) at or over the 200 employee mark.

We're not growing just to grow. … We grow because there's a need for our services and markets we're in and we want to continue to capitalize on the momentum that we have.

How does Embark differentiate itself from Big Four firms?

It's the same people we hire from a consulting perspective. We hire ex-Big Four CPAs. … They tend to come to us because they see the culture that we have in place. ... Accounting is accounting. You can't reinvent the accounting industry. You can only do accounting one way typically, but the level of care and the level of service our people provide our clients speaks for itself. 

Beyond that, we don't have the fancy high-rise offices downtown. We don't have the large national office partnership program. The point is we don't have a lot of overhead expenses that the Big Four have, (such as having) a huge pension. They're having to pay all their retired partners.

We can be very cost effective for our clients as well, too. Essentially, you're getting the same person that you had at a Big Four firm, but you're really getting it at a fraction of the cost.

This interview has been edited for brevity and clarity.

To read the original article by the Dallas Business Journal click here.


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