Annual Letter From Leadership

Dear Clients, Friends, and Community Partners:

The pace of change in today’s business environment has not slowed; it has accelerated. Legislative developments, shifting federal policy, evolving tariff frameworks, and continued regulatory complexity have reshaped planning assumptions for organizations across industries. At the same time, rapid advances in technology and artificial intelligence are redefining how businesses operate, compete, and manage risk.

For many clients, uncertainty has become a constant variable. The longer-term direction of trade policy, the durability of current tariff structures, the path of interest rates, and evolving regulatory priorities all influence capital decisions, hiring plans, and strategic investments. Planning today requires both discipline and flexibility.

While many of our clients delivered strong results in 2025, others faced meaningful headwinds. Margin pressure, supply chain disruption, labor market shifts, and ambiguity around the future cost of capital required decisive action, not passive observation.

At BMF, we did not simply monitor these developments. We partnered with clients to stress-test forecasts, quantify tariff exposure, evaluate cost structures, strengthen internal controls, and implement proactive tax and cash-flow strategies designed to perform across multiple economic scenarios.

As we enter the new year, our commitment remains clear: to serve as your most trusted advisor, bringing clarity to complexity and helping you make confident, forward-looking decisions.

For over six decades, we have intentionally chosen to remain independent. In a time when many accounting firms are consolidating, restructuring, or aligning with private equity-backed firms, we continue operating under a locally governed, partner-led model.

That independence matters.

Our advice is never shaped by short-term ownership cycles, capital events, or outside shareholders; we plan for generational client relationships, not investor timelines. That long-term orientation strengthens our culture, allowing us to invest deeply in our people and maintain continuity in leadership and service teams, which translates into stability and institutional knowledge for our clients. Just as importantly, independence reinforces the objectivity at the core of our profession by eliminating competing financial interests and ensuring our decisions are guided solely by what best serves those we advise.

Thoughtful succession planning remains central to our long-term strategy at the firm. This year, we recognize the retirement of Mark Bober, who has played an instrumental role in our firm’s growth and reputation over the last 30 years. As founder of our Transaction Advisory, Business Valuation and Litigation Services Groups, and a member of our Executive Committee since 2021, Mark’s insight and leadership have been integral to guiding the firm through pivotal periods of strategic advancement. While transitioning, Mark will continue serving clients and the firm in an advisory capacity.

We also extend our sincerest appreciation to Jim Bowen, who retires after more than 40 years in public accounting and more than two decades with the firm. Jim has played a key role in establishing and advancing our tax provision practice and has long been a trusted advisor to clients and colleagues alike.

At the same time, we are pleased to welcome Eric German to the firm’s Executive Committee, succeeding Mark in this important governance role. Eric joined the firm in 2014, became a partner in 2017, and later assumed leadership of our Assurance Practice. During his tenure, he has been instrumental in expanding the practice, modernizing workflows, and advancing the adoption of leading-edge audit technologies and strategic initiatives. In his role on the Executive Committee, Eric will contribute to firm-wide strategic planning, operational excellence, and long-term growth initiatives — reinforcing leadership continuity while positioning the firm for sustained success.

We would also like to recognize the promotions of Allison Gill and Nathan Lieb to partner. Building on the strong foundation established by Jim Bowen, Nathan will be leading our Outsourced Tax Provision services. Allison and Nathan’s advancements reflect our continued commitment to developing and recognizing the next generation of leadership within the firm.

We are growing intentionally to meet the evolving needs of our clients. We are grateful for the significant growth we enjoyed this past year, in line with intentional efforts and our long-term strategy. This growth reflects not just financial results, but investments in talent as we expanded several of our key service areas, including Client Accounting & Advisory Services (CAAS), State and Local Tax (SALT), Valuation Advisory, and Transaction Advisory.

Recent strategic additions include:

• Michael Ardizzone, Managing Director – Valuation Advisory
• Stephannie Miller, Controller – CAAS
• Andrew Zinger, Director – Transaction Advisory
• Expansion of our SALT practice with the addition of David Muchewicz, Randy Cole, Cheryl Suscha, Pierce Elliott, and Kim Van Dine

These additions reflect our continued commitment to delivering personalized service and expertise to our clients.

Education also remains central to our approach. From our Triennial Ethics Seminar to ongoing regulatory alerts and continuous thought leadership throughout the year, we are committed to keeping you informed, particularly as additional guidance is released related to the One Big Beautiful Bill Act and other regulatory changes in 2026.

We invest in technology to enhance strategic insight and modernize how we serve our clients—without compromising our high standards of service and excellence. We are intentionally integrating advanced analytical tools and modern workflow systems into our processes. These investments strengthen our ability to analyze larger and more complex data sets, identify emerging trends, and respond more quickly to evolving client needs — all while preserving the personal service and accountability that define our firm.

At the same time, we recognize the transformational impact AI is having on businesses today. Companies are racing to take advantage of its promise to improve financial performance and automate internal processes; that certainly applies to the CPA industry and to BMF as well.

We are strategically leveraging AI-driven tools within our firm to enhance financial insight and streamline automatable processes. Our intent is to harness the continually evolving power of AI to provide you with clearer visibility and smarter strategies for confident future planning, while maintaining the highest standards of cybersecurity and data protection in every implementation.

“We measure our success by the trust our clients place in us and the long-term relationships we build together.”

Recognitions represent far more than accolades. They reflect the trust our clients place in us each day and the dedication of our team. We were honored to once again be recognized among INSIDE Public Accounting’s Top 200 firms nationally and named a Great Lakes Regional Leader by Accounting Today. Additionally, we recently received ClearlyRated’s 2026 Best of Accounting Award, along with its 5-Year Diamond distinction for service excellence, based entirely on client feedback.

We are also proud to recognize several individual honors:

• Mark Bober – Named to Forbes’ 2025 Best-in-State CPAs list
• Rick Fedorovich – Recognized in Cleveland Magazine’s 2025 Cleveland 500 and Crain’s Cleveland Business 2025 Who’s Who lists
• Mindy Marsden – Named a Crain’s Cleveland Business 2025 Notable M&A Dealmaker

As we move through 2026, one thing is certain – change will continue, but our commitment remains the same: to guide you through change with clarity and confidence.

You can continue to expect proactive communication regarding legislative developments, you can also expect continuity in leadership, advancement of our strategic plan, and an unwavering commitment to independence. Most importantly, you can expect accountability – to your goals, to service excellence, and the long-term success of your organization.

On behalf of our entire partner group and team, we thank you for the trust you continue to place in us. We are honored to serve as your advisors and partners.

We wish you a successful and prosperous year ahead!

Tod Wagner, Partner

Steve Swann, Partner

Eric German, Partner