In this episode of Making Waves, host David Toth sits down with Jeff Call, Managing Partner and CEO of Bennett Thrasher (BT)—one of the fastest-growing independent firms in the country. Under Jeff’s leadership, BT has climbed to the 64th largest firm in the U.S., earning multiple accolades for its workplace culture, internship programs, and industry leadership.
With more than 520 team members and $115 million in revenue, BT’s growth has been anything but accidental. Jeff shares his insights on strategic planning, talent retention, and why culture is the foundation of a thriving firm. He also discusses the impact of participating in the MPB | Leadership Accelerated program, which helped shape his leadership journey during his transition to managing partner and CEO.
Jeff’s journey to Managing Partner is a case study in long-term leadership development. He joined Bennett Thrasher in 2002—when it was an $8 million firm with 50 employees—after starting his career at Arthur Andersen and later Deloitte. Tasked with building the firm’s personal financial services practice, Jeff grew that division before becoming a tax service line leader, a board member for 18 of the last 20 years, and eventually, managing partner.
Interestingly, Jeff turned down the role when he was first considered for it a decade ago. But when the opportunity came again in 2020, he was ready. Following a two-year leadership transition, he officially stepped in as CEO in 2022.
With two and a half years in the role, Jeff has had to balance continuing BT’s strong growth trajectory while staying true to the firm’s culture. His perspective offers valuable insights for leaders navigating leadership transitions and looking to build sustainable firm growth.
Strategic planning is a core component of Bennett Thrasher’s success, and Jeff shared insights into the firm’s long-range vision:
Takeaway for Firm Leaders: Growth doesn’t happen by accident—it requires intentional planning. BT’s strategy highlights the importance of having a clear vision, prioritizing talent, and embracing technology to remain competitive.
The talent shortage has been one of the biggest challenges in the accounting profession, and offshoring has played a crucial role in BT’s ability to sustain growth. The firm now has 60 team members in India, many with Big Four backgrounds, supporting transaction advisory, audit, tax, and CAS services.
Jeff recently took his first trip to India to meet the offshore team, calling the experience an “eye-opener.” The Delhi office has provided a release valve for capacity constraints, helping BT remain agile despite labor shortages in the U.S.
Leadership Lesson: Offshore teams should be integrated as part of the firm’s culture, not treated as external resources. BT regularly sends U.S. team members to India and vice versa to build stronger collaboration across teams.
With private equity (PE) reshaping the accounting landscape, many firms are debating whether to stay independent or seek external investment. BT’s stance? Culture trumps capital.
Jeff acknowledges the advantages of PE—namely, access to large amounts of capital for acquisitions—but believes Bennett Thrasher’s independence is a competitive advantage. Instead of pursuing rapid M&A-driven growth, the firm has remained selective with acquisitions, focusing on strategic tuck-ins that align with their long-term goals.
Key Insight for Firm Leaders: Growth for growth’s sake isn’t the right move. BT’s approach highlights the importance of being intentional about M&A and ensuring cultural alignment.
“People don’t quit a company—they quit their boss.”
Jeff emphasizes the critical role of leadership in employee engagement. BT has implemented intentional strategies to maintain a strong culture, even as the firm scales:
Takeaway for Firm Leaders: Culture isn’t a buzzword—it’s an asset. BT’s approach proves that listening to employees, fostering engagement, and creating opportunities for connection are essential to long-term success.
Jeff credits the MPB | Leadership Accelerated program for helping prepare him for the complexities of managing partner leadership. During his two-year transition into the CEO role, the program provided him with practical strategies and peer insights that have since shaped his leadership style.
“The situations that Gary Shamis talked about in MPB—many of them I’ve faced since then,” Jeff shares. “Hearing from other leaders, learning from their successes and challenges, and seeing different approaches to governance and growth was invaluable.”
Jeff emphasizes the importance of staying adaptable in leadership, listening to employees, and not being afraid to change course when needed.
Advice for New Leaders:
As Jeff Call looks ahead to the next phase of Bennett Thrasher’s journey, his focus remains on people, culture, and smart growth. With a strategic plan for $200M in revenue, talent expansion, and technology adoption, BT is poised to thrive as an independent, people-first firm.
For firm leaders, Jeff’s story is a powerful example of what’s possible when culture, leadership, and strategy align.
Want to Elevate Your Leadership?
The MPB | Leadership Accelerated program has helped firm leaders like Jeff navigate growth, strategy, and leadership transitions. If you’re a rising leader or managing partner looking to take your leadership to the next level, click here to learn more about the program.
Catch the full episode of Making Waves with Jeff Call to hear more about his leadership journey and Bennett Thrasher’s growth strategy.