In this evolving global dynamic, Andersen Tax is the best alternative to accounting firms that are vulnerable to conflicts-of-interest scrutiny relating to audits, research and ratings. As an independent, tax-only firm, it is also not affected by upcoming audit firm rotation in many jurisdictions, which might leave clients in the lurch. The firm's seasoned partners work directly with clients, bringing decades of tax and business experience into each conversation. 

In doing so, Andersen Tax creates the solutions that align with client goals - whether it be preserving wealth for multi-generational families, investment funds seeking practical solutions to regulatory complexities, or multibillion-dollar global enterprises requiring tax-efficient structuring of their business operations. This is why it is the largest tax-only firm in the United States and the emerging dominant one with its global coverage. 

A new era has begun for the firm since it acquired the rights to the Andersen name and officially changed its name from WTAS to Andersen Tax in September last year. Founded by Vorsatz and 22 fellow Arthur Andersen partners during a lift-out of the accounting firm's private client service practice in 2002, WTAS quadrupled in size by its 10th anniversary. By then, it had become the largest independent tax practice focused on serving ultrahigh-net-worth individuals (UNWIs) and families, businesses and alternative investment funds throughout the country.

With US clients increasingly turning overseas, global coverage became imperative. It thus established WTAS Global (today's Andersen Global) and added Swiss member firm PrimeTax in July 2013. Expansion came in quick succession through integration of the Netherlands' Taxperience Group, Paris-based STCPARTNERS, Noda Studio in Italy, Sendero Taxperience in Poland, MDR Advisory Group in Switzerland, and Alegis in Germany and Luxembourg.

"Our goal was to be able to give clients best-in-class, quality solutions," Vorsatz says. "That's what's driven our expansion. When we looked at options for international growth, we concluded that other solutions weren't of a quality that was consistent with that objective, so we figured we had to build it ourselves."

Brand equity 

With the global organisation coming together, the next step was to embrace the "one firm" culture and the values shared by all the member firms, through a common name. Coming into trademark issues over the WTAS name outside of the US, Vorsatz set into motion an internal assessment of reviving the Andersen name. He had contemplated on the idea for about eight years before bringing up the possibility. A market research study done last year showed that a clear majority would most likely engage with a well-established and respected global tax advisory firm bearing the Andersen name. This cleared the way for the astonishing brand revival.

When the name change was formally announced, there were about 4,000 reprints of the news story within the first four days. It drew out sceptics, most of whom expressed guarded optimism while others, downright disdain. But at the end of this cycle came expressions of interest from all over the world. 

"Since launching the name, we've been contacted by more than 100 firms outside the US that want to join us - probably about 80 per cent of those are run by former Andersen people," Vorsatz says. "Our biggest challenge today is managing growth. That's a business problem that most firms would like to have." 

By the first quarter of this year, Andersen Tax's global association had grown to 40 international locations - 18 of which are in the US, 18 in Europe where there is a complement of more than 300 professionals, and four in Latin America. 

Globally, up to 1,200 professionals serve UNWIs and corporate clients across jurisdictions. In the US, Andersen Tax grew organically by 18 per cent and increased its client base by 57 per cent last year. 

By the end of this year, the firm expects the client base to more than double. It foresees a global footprint of 100 offices within four years. This would entail a major rollout in Asia, starting with India and extending to Southeast Asia. 

"By any measure, most people view Southeast Asia as the fastest-growing market over the next 20 years," Vorsatz says. "So just like I say, you can't be a global firm if you don't have a presence in the US; over the next 20 years, you can't be a global firm without substantial presence in Asia."

Core values

To Vorsatz and more than 200 partners that encompass the global organisation Andersen Global, the revival of the Andersen brand is an opportunity to re-establish an ethos. 

"Our focus is on quality, independence, integrity, objectivity and most of all, client service," Vorsatz says. "The partners who work with us are here because we like what we do and we are passionate about providing exceptional client solutions. I have a full client load. All the people that run our offices serve clients - that is not necessarily the case with other practices." 

With UNWIs as its niche in the US, Andersen Tax handles income tax and estate planning for individuals, their state and local tax filings, along with consulting and valuation work when they embark on new businesses. 

Once they turn overseas, which is the natural step in today's globalised economy, Andersen Tax also assists in international tax planning and compliance and transfer pricing. Andersen Tax achieves this through its seamless work with the member firms of Andersen Global.

"Because we have such an intimate familiarity with the person or the family or the company, we eventually become a trusted business adviser," Vorsatz says. "They'd much rather work with somebody in our firm than somebody they don't know. It's much more seamless that we can coordinate all those services."

Andersen Tax sees limitless opportunities for individual and commercial work, especially with preserving wealth for multigenerational families, many of whom have multiple entities. Andersen Tax is in the special position to be able to serve the individuals and their business entities at the highest level.

Globally, the member firms of Andersen Global are steeped in commercial work for public and private companies and alternative investment funds, including private equity firms, hedge funds and venture capital firms. Internationally, Andersen Global member firms also provide legal services in France, Poland, Germany and Italy, and potentially five more countries within the year.

"Quality is the primary driver of our business success," Vorsatz says. "We continue to focus on providing the highest quality solutions for our clients, and our growth follows. 

I think some organisations have lost sight of the importance of professional service and focus too much on making money. Our more experienced partners are totally motivated by building a great firm for the next generation even if that means we make less money."

Recognising that the quality of its people determines its growth trajectory, Andersen Tax invests heavily in training. It has entered into a five-year contract with Q Center in St Charles, Illinois - formerly the global training facility of Arthur Andersen - to conduct year-round training of its tax professionals. Through a partnership with University of San Francisco, the firm also sponsors a Master of Law in Taxation degree programme for employees who attend classes in-house during work hours. The firm will extend this programme nationally in the coming years. 

"The biggest cost that we're investing in is training because that is helping our people become better professionals," Vorsatz says. "That's a cultural issue because in our prior life, for those of us who worked at Andersen, stewardship was a great attribute of the firm. One of our former CEOs, Duane Kullberg, likened being a partner in the firm to being on a train. You got to take a ride for a while and then you got off, and somebody else got to ride the train. You didn't own the train or monetise the train because your objective was to make it a better train for the next generation. That's a core value that we have."