Who's Really the BOSS? | Modernizing a 50-Year Legacy Practice

Modernizing a 50-Year Legacy Practice

September 29, 2025 / 49:39/S4 E20

Tim Abbott shares his journey from merging his small practice into MJ Vanden Brook in 2012 to becoming the third-generation owner of the 50-year-old firm. He discusses two major acquisitions, including modernizing operations from clipboards to cloud technology, and reveals why keeping previous owners around for 2-3 years led to high client retention rates.

Introducing Collective by DBA
https://collective.cpa
https://www.linkedin.com/company/collectivebydba

Learn More About Dillon Business Advisors
https://www.dillonadvisors.com
https://www.linkedin.com/company/dillonbusinessadvisors

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(00:00) - Introduction and Welcoming Tim Abbott
(01:08) - Tim Abbott's Background and Firm Overview
(02:50) - Team Structure and Work Environment
(04:12) - Personal Life and Family
(05:22) - Best Advice Received
(06:48) - Journey to Business Ownership
(08:13) - First Acquisition and Modernization Efforts
(11:34) - Second Acquisition and Transition Challenges
(18:49) - Client Transition and Relationship Management
(20:49) - Lessons from Recent Acquisitions
(22:15) - Challenges with Referral Sources
(24:31) - Surprises Post-Acquisition
(28:55) - Evaluating Buy vs. Build
(33:51) - Current Goals and Initiatives
(41:48) - Importance of Peer Relationships
(45:53) - Looking Ahead: Future Plans
(48:05) - Conclusion and Contact Information

Marcus Dillon, CPA

Rachel Dillon

Tim Abbott, CPA