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Meet Adam and Katelyn Ferguson of McCarthy Ferguson CPA in South Shore

Today we’d like to introduce you to Adam and Katelyn Ferguson.

Thanks for sharing your story with us Adam, Katelyn. So, let’s start at the beginning and we can move on from there.
McCarthy Ferguson CPA’s seeds were loosely sown all the way back in 2003 I was a senior at UMass Amherst when I met my beautiful wife-to-be on her very first day of her freshman year at UMass Amherst. After that initial day we were together every day until I graduated and moved back to Boston to work at a large bank. Over the next three years, Katelyn obtained her bachelor’s and master’s degrees in accounting and at the end of that time, she was finally moving to Boston where she would work at Deloitte and obtain her CPA…only for me to move to Washington DC for my MBA studies at Georgetown University. When I had finally graduated from business school in 2009, Katelyn had since started working with her mother Cheryl (also a tax accountant) and they were in the process of forming a small accounting business. Katelyn and I had endured a five year long-distance relationship and we knew that if we could make it that long, then we could make it last forever. While I worked in a finance/accounting/business development role for a large foreign telecom company, I also actively pursued my CPA, knowing that it could only help me develop as a business professional. While at first I had thought that I might pursue a career track that could ultimately lead to me being a CFO or controller for a larger company, Katelyn and Cheryl proposed that I take a chance and join them so that we could be our bosses, operating a different kind of CPA firm, where we could break the mold of the “stuffy” and “boring” accountant. We like to say that we know our stuff but we’re not stuffy. Our goal was to form tight knit relationships with our clients and offer accounting, tax, and business services in a professional but laid back atmosphere. We help people plan and help businesses grow by educating and having open conversations. Our role as “the accountant” or as “the CPA” is never to simply process forms or provide purely administrative functions. We get to know our clients and want them to use us as either professional resource or as friends. It’s corny but it’s true!

We’re always bombarded by how great it is to pursue your passion, etc – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you?
When I was at my prior job, Cheryl and Katelyn were busy with a modest client base, and I had my weekly salary (and benefits!) to help compensate for any seasonal or cyclical business swings. Leaving that dependable and reliable salary was one of the scariest things we’d done. Once I’d joined the business, we had to then split the same pie three ways rather than two. So, we had to quickly grow our client base in order to make ends meet. Katelyn and I, as well as Cheryl, who is the breadwinner for her family, had all of the usual expenses to worry about like rent, health insurance (eek!), car payments, etc.

And to boot, in 2014, we welcomed our daughter Sienna into the world. Two years later, our son Owen was born. Running a business is obviously much more than performing a service or selling a product. It’s administration. It’s marketing. Its human resources. Maintenance! Hiring! Payroll! Travel! The list doesn’t end! And running a business with two little taxing but adorable and awesome little ones is doubly difficult! Katelyn and I share both the business and family duties depending on who has the biggest fire to put out at the office, or who doesn’t have a meeting so that they can bring one of the kids to a doctor’s appointment. While it definitely is a struggle, we completely embrace the opportunity and the challenge and have been growing our practice all while spending as much time as possible with our kids.

We’d love to hear more about your business.
We’re a full service CPA firm, specializing in tax, accounting, payroll, and outsourced CFO and business advisory services. And, while at some point we may like to specialize, we really try to offer as much breadth as possible in what we can do for our clients. From tax preparation to bookkeeping to business strategy consulting, we like to be diverse in what we do. It keeps us challenged and makes sure that we’re never resting on our laurels.

We’re known for offering our services in a way so that people can better understand the intricacies of tax, accounting, business, etc. We’re laid back, super friendly, highly educated, and eager to help.

I think that I’m most proud of our ability to always be available when people need us, and that our clientele is a melting pot of all types of individuals, business, trusts, etc. Our client retention is sky high.

What were you like growing up?
I grew up in Foxboro as the youngest of four children, so I got quite used to the attention from my older siblings. We are a sarcastic family and were always joking, making up songs, and getting on each other’s nerves. While I had some lapses of introversion when I was younger (see: childhood insecurities), for the most part I always wanted to be doing something active with my friends and I loved being out in the world and experiencing life. Sitting down and reading was for school hours and outside of that, I wanted to be with my friends, play outside, make music, etc. I played both basketball and soccer all throughout school, and always really loved sports (except golf). And, I was always hugely interested in music. I started playing drums when I was 15 and have been in several different bands (and still am!) since then. In the last few years I picked up guitar but that’s a bit current. 🙂 But, music has always been my go to in good times and bad. I grew up on rock, grunge, and heavy metal, but I like a lot of music as long as it’s authentic, evokes thought and emotion, and isn’t created by a computer. Lastly, I’ve always been motivated by learning, whether it was about other cultures, math & science, or history. You name it. My goal for the future is to grow my business and get it to a point where I can jointly run the business and also start a path towards achieving a Ph.D. so that I can one day be a professor. Learning gets me excited and always has.

Contact Info:

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