Reflecting on 100 Years with Louis Plung
This year marks an important and impressive milestone for Louis Plung & Company – 100 years of service. Very few firms are able to taut such an impressive history of operation. In order to mark the occasion, we sat down with firm managing partner, Louis Plung, to reflect upon the storied history of the firm.
The business was established in 1921 by Louis’s grandfather and namesake, Louis Plung. He spent two decades as a sole practitioner, offering bookkeeping services out of his house, before hiring his first employee in 1940. Impressively, many of the relationships that Lou’s grandfather established in the 1920s, ‘30s, and ‘40s are still maintained by the firm to this day. There are many instances of multi-generational businesses that have grown alongside the firm. “We value and continue to value the relationships,” explained Louis. “It’s a real privilege that I get to work with multiple generations of people.”
Louis joined the firm in August of 1984. He is predated in the firm not only by his grandfather, but by his father and uncle as well. “I feel incredibly lucky that I had the chance to work with my father for 25 years and my uncle for 35 years,” said Louis. “It was an absolute privilege to grow and work with them. Thinking back on that time both humbles me and makes me feel incredibly lucky to have had that experience.”
While a lot has changed between 1921 and today, the values that Louis Plung & Company holds are the same ones that the firm was built on 100 years ago. “Nearly everything around us has changed—technology, expectation of immediacy, the types of clients we do work with—but one thing has remained the same,” explained Louis. “The only reason we’re still in business is that we believe in providing exceptional client service. It is our goal to outperform our clients’ expectations—that is what doesn’t change.”
“The people side is what makes accounting interesting,” continued Louis. “What distinguishes any professional service firm is what you bring and understand beyond the technical aspects. We want to help our clients achieve what they want to achieve, not our own agenda.” The firm’s longstanding dedication to providing an elite level of service is certainly a key reason the firm can boast a century in operation.
While remembering the firm’s storied, 100-year legacy is certainly important, it is also crucial to have an eye always on the future of the firm and the accounting industry. “CPA firms have to evolve to become professional advisors,” believes Louis. “It’s not about the tax return or the audit anymore. It’s about how you interpret the information to provide forward-thinking goals and solutions.”
To close out our conversation with Louis, we asked him to describe what he is most proud of, as he reflects on this important milestone. “My relationships are what I am proud of. Everything goes back to giving our clients what they need,” he answered. “I also have enjoyed having opportunities to serve our community.”
While some may feel there is a secret to obtaining this level of success, it is really quite simple. Louis and the leadership value the people the firm, both clients and employees. For Louis Plung & Company – accounting is more than the number. It is truly about impacting the lives of people in a positive way.
