The Evolution of Copper Leaf Financial and the Davis & Hodgdon Advisory Group
In August of 1990 John W. Davis founded the CPA firm John Davis & Associates just as the economy was in the midst of an economic downturn. Having worked in both a large and medium sized firm he had seen how the approach for the accounting industry had been one of historical reporting and tax preparation rather than a proactive approach. With this in mind the practice was founded on the concept of focusing on planning, budgeting, and strategic planning.
Davis & Hodgdon CPAs
In the early 2000’s there was an increased demand among the nonprofit community for audit and attestation services, so in January 2005 he welcomed Bret L. Hodgdon as Partner to lead the Audit & Accounting Department and the firm was then renamed to Davis & Hodgdon Associates CPAs in 2006.
At the heart of proactive tax planning is a comprehensive review process, so to continue to expertly service a growing clientele it became necessary for the firm to grow and hire additional staff. There was also a need to service clients throughout Vermont so in July 2015, the Firm merged with a Rutland-based CPA firm. The merge represented a significant opportunity to serve clients throughout Vermont with an extensive range of services and expanded talent pool.
Over time it became evident that there was a need for expanded services among the firm’s clientele that included retirement and investment planning for individuals as well as assistance for business owners transitioning into retirement. In response, the firm specifically identified comprehensive financial planning, business valuation, and exit planning services as those that should be added to their menu of services. Upon doing so they ensured staff were in place with valuable industry-recognized certifications including Certified Financial Planners® and a Certified Exit Planning Advisor (CEPA). Thus, becoming part of a very elite group of advisors able to provide the highest level of expert advice in all things finance and tax, as well as business planning and value acceleration.
Launch of Copper Leaf Financial
As the tax practice thrived, so did increased demand for the firm’s financial planning services. In a financial planning industry fraught with consumer doubt and hesitation the firm differentiated themselves as independent, fiduciary, fee-only wealth advisors.
In doing so the firm rebranded its financial advisor services as an affiliated and separately registered entity, Copper Leaf Financial. The firm took steps to further enhance their independence in 2017 by becoming a Registered Investment Advisor (RIA). Copper Leaf is a fee-only advisory firm and a member of NAPFA (National Association of Personal Financial Advisors). In 2021 the firm moved from state registration to registration with the SEC, further differentiating itself as a highly reputable fiduciary bound to serve in the best interests of their clients. Click here for more information about why fiduciary advice matters.
Introduction of Client Accounting Services (Convergent Accounting)
In 2016 the practice was thriving as they provided proactive advisory and tax services to entrepreneurs and business clientele throughout Vermont. By working closely with entrepreneurs, they developed a deep understanding of their pain points and biggest challenges which included frustration over time spent dealing with accounting-related tasks.
Simply put – business owners were spending too much time in the bookkeeping weeds. They were either trying to keep up with the tasks on their own or they were dealing with a high turnover rate of bookkeepers and a general lack of accurate accounting records. To address those challenges the firm launched a formal package of accounting and bookkeeping services referred to as RAD (Remote Accounting Department), which then evolved into Convergent Accounting.
Davis & Hodgdon Advisory Group Reorganization
In 2021 the firm made the decision to rebrand and reorganize under one newly identified umbrella, Davis & Hodgdon Advisory Group. Copper Leaf Financial retained its name, the CPA firm dropped “Associates” and became Davis & Hodgdon CPAs, and RAD was renamed to Convergent Accounting to signify a convergence of CFO services, bookkeeping and other client accounting services. The name changes reflect the organization’s evolving businesses, increased service offerings and the adoption of a new cohesive brand.
For over 30 years we’ve served clients throughout northern New England and upstate New York. During that time we’ve grown into a team of like-minded and driven individuals – all of whom embody the firm’s core values which guide us in our interactions with each other, our clients and our community.
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