LBMC Celebrates 40 Years of Commitment to Clients, Talent, and Community

In the summer of 1984, a visionary group of 12 individuals embarked on a journey to create a unique business firm—one where clients were considered partners, innovation was driven by genuine needs, and a human-centric culture fostered growth and expertise. This vision culminated in the establishment of LBMC PC, based in Brentwood, Tennessee (FY23 net revenue: $192.7 million). Now, 40 years later, LBMC stands as a testament to unwavering dedication to clients, talent, and community. 

David Morgan, co-founder of LBMC, reflects on the firm’s mission: “From the beginning, our mission was never to be the biggest, but to be the best. To build a firm that not only excels in accounting and business consulting but deeply understands and adapts to the unique needs of our clients. Our growth and the success of our clients are a testament to our relentless pursuit of excellence and our commitment to building lasting relationships.” 

Today, LBMC has evolved into a nationally recognized business consulting firm, serving over 11,000 clients with expertise in areas such as audit and accounting, tax and business consulting, human resources, technology, and wealth advisory services. This remarkable journey illustrates the firm’s commitment to listening to clients, adapting to their needs, and cultivating an environment where team members and communities flourish. 

A Strong Foundation of Trust and Loyalty 

As LBMC celebrates its 40th anniversary, CEO and Managing Shareholder Jim Meade emphasizes the importance of client trust and team dedication: “Our 40th anniversary is due to the trust and loyalty of our clients, the dedication of our team members, and the ongoing support of our communities.” As only the second CEO outside of the founders in LBMC’s history, Meade’s leadership signifies a pivotal evolution for the firm. “LBMC’s biggest referral source is our clients, and we are so proud of that. It means we are focusing on the right things. As we embark on the next chapter of our journey, LBMC remains committed to staying ahead of the curve and leading the way as the firm of the future.” 

Evolution to a Family of Companies 

Over the past four decades, LBMC has significantly expanded within the accounting and business consulting industry. Initially founded as a traditional accounting firm, LBMC has transformed to meet clients’ evolving needs. The firm now encompasses seven specialty companies, each offering unique niche services, thereby distinguishing itself in a competitive market. 

Co-founder Mike Cain highlights the firm’s core values: “Part of what contributed to our growth was simply articulating a core purpose and core values: extraordinary competence, absolute integrity, high expectations and accountability, continuous learning and innovation, and respect and concern for our people, clients, and community. We had some great conversations. We listened to what was keeping them up at night and brought in solutions in the form of niche companies that had the same priorities as we did.” 

The LBMC Family of Companies includes LBMC PC, LBMC Employment Partners, LBMC Investment Advisors, LBMC Physician Business Solutions, LBMC Procurement Solutions, LBMC Staffing Solutions, LBMC Technology Solutions, and LBMC W Squared. 

Building Experts and Careers Through a Nurturing Culture 

Long before the concept of corporate culture became mainstream, LBMC’s founders recognized the value of fostering a supportive workplace. Central to LBMC’s success is its commitment to developing industry experts and advancing careers. With 87% of organizations prioritizing talent development, LBMC stands out as a four-year running national Certified Great Place to Work, attracting and nurturing top talent. 

This reputation is not merely a source of internal pride; it serves as a strategic advantage resonating throughout the industries LBMC serves. The firm’s dedication to personal and professional development is foundational to its longevity. Through continuous learning opportunities, robust mentorship programs, and a culture valuing innovation and collaboration, LBMC creates an environment where expertise flourishes, ensuring that clients benefit from a highly skilled and invested team. 

Courtney Bach, LBMC Shareholder and Board Member, reflects on her experience: “Working at LBMC has been a transformative experience. The opportunities for growth here are unparalleled. The mentorship and support received throughout my entire career by so many within LBMC has enabled me to become an expert in my field and a leader in the firm, while also being present with my family.” 

Community Commitment: Empowering Through Employee-Led Initiatives 

At the core of LBMC’s identity lies a profound commitment to making a positive impact on its communities. This commitment is exemplified by the LBMC Cares Foundation, launched in 2022 and driven by the passion and dedication of LBMC employees. The foundation’s initiatives span youth services, educational programs, and health and wellness projects, reflecting a broad and impactful reach fueled by the collective efforts of LBMC team members. 

Brian Tate, Shareholder and Board Chair of the LBMC Cares Foundation, states, “We believe in giving back to the communities that have supported us throughout our journey. The LBMC Cares Foundation is our way of ensuring that our success translates into meaningful contributions to society.” 

Looking Ahead: A Vision for Continued Growth and Innovation 

As LBMC proudly marks its 40th anniversary, the firm is focused on a clear and ambitious vision for continued growth and innovation. Meade underscores this forward-thinking approach: “This year, our focus is on strategic acquisitions and related activities that align with market demands, as demonstrated by last year’s acquisition of Strothman and Co. in Louisville. This strategic move not only expanded our healthcare and manufacturing expertise but also brought in top-tier Client Accounting Services (CAS) specialists, deepening our capabilities in tax and audit.” 

With a steadfast commitment to community support and client satisfaction, LBMC is poised for even greater success in the years to come. “Staying true to our North Star, we proactively identify trends and craft solutions for our clients, often before they even recognize the need. This forward-thinking approach has been our winning recipe for the past 40 years, and we believe the best is yet to come.”