US firms RSM McGladrey and McGladrey + Pullen have rebranded under the common name McGladrey in an effort to improve market awareness.
The two firms will be marketed under a single banner but continue to operate as separate legal identities. This means the firms are still legally named and operate as RSM McGladrey and McGladrey + Pullen.
“Whenever we conduct ourselves or communicate there’s a linkage back to the legal entity that provides those services,” McGladrey chief marketing officer Mark Audino said, adding that advertising would not focus on any particular services.
Alternate practice structure
McGladrey + Pullen is a CPA firm that offers audit and attest services while RSM McGladrey offers accounting, tax and business consulting services. The firms have operated in tandem under an alternate practice structure for more than 10 years.
Audino said the firms’ separate brands had caused “a degree of confusion” in the marketplace, prompting a change in marketing strategy.
“We have now got clarity in the sense of a recallable, easily identifiable brand identity,” he said.
“Ultimately, the awareness and the consideration are the first steps in driving incremental revenue. That is our ultimate goal in terms of new clients as well as business from current clients.”
The McGladrey brand is being promoted through a nationwide marketing campaign, which included professional US golfer Chris DiMarco putting golf balls on the world’s largest golf-themed cake.
Recently, the firms realigned to focus on national lines of business and industry.
In the past
The decision to form a common brand comes after months of dispute between the two firms, which kicked off in July 2009 when McGladrey & Pullen announced it intended to terminate its relationship with RSM McGladrey.
The threat was not carried out and the two firms reaffirmed their long-term alternate practice structure agreement and filed new documentation with the US Securities and Exchange Commission in February 2010.
According to the latest International Accounting Bulletin US survey, the combined revenue of the two firms was $1.46 billion in the year to 30 April 2009, making the firms’ combined revenue the highest outside the Big Four.