Author Topic: Patke Being Acquired By WipFli  (Read 144 times)

BG2008

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Patke Being Acquired By WipFli
« on: Today at 12:12:27 PM »
This is going to be a rant and I want to compare notes with other managers on here.  Patke was acquired by WipFli about 2 years ago and the client experience just isn't the same anymore.  They have basically increased my audit and tax fees from below $10,000 a year to about $16,000 for an US based strategy.  They started nickel and diming everything.  They have increased the cost for the GP tax preparation by over 100%.  They are definitely pissing off this customer.  They have become a bit more client unfriendly and flat out told me that I am unprofitable for them.  Frankly, the guy who does my audits can't get his shit done by Aug or Sep.  There has been a ton of stop and go.  I suspect that they are unprofitable because the guy would work on it in March/April/May and then go away and work on it again in July/August.   So I wind up in a 10 months audit hell all year around.  I'm pretty much done with them.  I am 99% sure I am moving over to Spicer Jeffries for 2021.  Does anyone else have similar experience with them after the WipFli acquisition.  At the price that they are quoting me, I am probably better off going to a Grant Thorton or someone bigger.     

It's been so aggravating everytime I get an engagement letter from them.  Because it is a back and forth on why is this up X%?  I think a 2-5% annual increase in services makes sense to be inline with inflation.  But they have lost their soul and their core client base.  That's fine if they want to go up market. 

If you guys have any other recommendations, it would be greatly appreciated to compare notes. 


BG2008

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Re: Patke Being Acquired By WipFli
« Reply #1 on: Today at 12:15:46 PM »
BTW, I am incredibly happy with my fund admin and I hope they never change.  Patke was fine until they got acquired and their DNA has changed.  I am not some grumpy guy who isn't willing to pay for good services.