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Wipfli Clients Flat, Revs Rise for 2021

Wipfli has reported revenue growth of 9.78 percent for the year ended in May despite the fact it had 17 fewer clients than in the prior year. Total revenue reached $430.6 million for the most recently ended year, up from $392.2 million for fiscal 2020.  

Initially, Wipfli's 2021 annual report said the firm ended fiscal 2021 with 82,310 clients. However, in response to a question, a spokesperson said there were actually 84,839 for the most recently completed year and that the numbers needed to be adjusted because, "two different people ran slightly different scripts–resulting in numbers that are not comparable." As a result, the firm is correcting its 2021 annual report.  

The firm added 8,036 clients during fiscal 2021, but still ended last year down slightly from 84,856 clients in fiscal 2020. The growth rate over fiscal 2021 was higher than the 8.64-percent increased reported for 2020 over 2019.

Consulting was the firm’s fastest-growing business segment, reaching $131.7 million for the most recently ended year, rising 12.9 percent from $116.7 million,

The largest segment, tax, produced revenue of $141.2 million, up 10 percent from $128.4 million. Audit & Accounting had revenue of $135.8 million, up 6.8 percent from $127.2 million. Wealth Management, the smallest segment, had $21.9 million in revenue last year, an increase of  5 percent from $20 million.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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