Overview
Our Work
Our People
Our Results
Leading Forward.
FY25 Annual Report
“When our firm started nearly 100 years ago, we provided tax and bookkeeping services. Today, we integrate cloud and digital technologies, offer proficiency in our clients’ industries and engage a global workforce to provide solutions. This empowers us to deliver a full suite of accounting/finance capabilities for our clients to outsource to us. In addition, our clients entrust us to help them with complex challenges, including technology solutions, digital transformation, leadership development, transaction guidance and other assorted advisory services. No matter what services we’re providing, Wipfli associates remain laser-focused on quality service, innovative solutions, proactive guidance and partnership to help unleash a client’s potential.”
— Kurt Gresens, Managing Partner
Read the full letter
Embracing Change,
In a world where a new administration means change is constant, our commitment to adaptation and resilience has never been more crucial. We have embraced these challenges head-on, providing innovative solutions and support to our clients, associates and communities. As you read through this report, you'll discover how Wipfli's dedication to guiding through change has empowered those we serve to thrive in an evolving landscape.
FY 2025 highlights
Letter from Our managing partner
Next
"Wipfli" is the brand name under which Wipfli LLP and Wipfli Advisory LLC and its respective subsidiary entities provide professional services. Wipfli LLP and Wipfli Advisory LLC (and its respective subsidiary entities) practice in an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. Wipfli LLP is a licensed independent CPA firm that provides attest services to its clients, and Wipfli Advisory LLC provides tax and business consulting services to its clients. Wipfli Advisory LLC and its subsidiary entities are not licensed CPA firms.
Wipfli provides elevated client service and solutions that empower our clients. Regardless of the industry or service, our dedicated professionals helped clients achieve their goals in fiscal year 2025.
Next: Our work
GO TO THE TOP
As we reflect on the past year, change has been a constant companion in our journey and that of our clients. The rapid regulatory and financial policy shifts currently being enacted or considered are changing the business environment at an unprecedented pace and creating enormous uncertainty. At Wipfli, we have embraced these changes with resilience and adaptability, guiding our clients through the complexities, challenges and opportunities. Our adaptive solutions empower clients to thrive despite the uncertainty, whether they come to us for traditional tax, audit and accounting services or for comprehensive advisory services, strategic consulting or cutting-edge technology solutions. Wipfli's approach is grounded in the belief that change is not merely an obstacle but an opportunity for growth and transformation. We have faced challenges head-on, providing innovative solutions and unwavering support to our clients, associates and communities. We understand that each client’s journey is unique, and we tailor our guidance to meet their specific needs, helping to ensure they are well-equipped to succeed. Our annual client experience study highlights our commitment to listening to feedback and acting on it, strengthening our connection and becoming better partners. Our associates are integral to our success, embodying our values of excellence, integrity and teamwork. They are innovative problem-solvers and caring and trusted advisors who continuously develop groundbreaking solutions and elevate our offerings. Their dedication to professional growth and leadership development ensures that Wipfli remains a true partner in navigating the complexities of the middle market. The results of our efforts are reflected in our financial performance, client experience and firm growth, as well as in our vibrant and diverse culture at Wipfli. As we celebrate this fiscal year’s achievements and innovations, I am filled with pride and gratitude for the lasting, positive impact we have created together for our clients.
our Results
our work
our people
Wipfli provides elevated client service and adaptive solutions that empower our clients to navigate change with confidence.
Our associates bring care, integrity and teamwork to every client relationship — thinking alongside our clients to deliver what’s needed.
Our financial results, client experience and firm growth reflects our commitment to building trust and offering quality solutions.
“
© 2025 Wipfli LLP, except as to third party logos and marks, which are used with permission. All rights reserved. Notices and Disclosures | Privacy Statement | CCPA | Vulnerability Disclosure
Our relationship builders inside Wipfli make these insights possible. Our associates bring care, integrity, and teamwork to every client relationship — thinking alongside our clients and working hard to deliver what’s needed.
Next: Our PEOPLE
Notices and Disclosures | Privacy Statement | CCPA | Vulnerability Disclosure
WORK
Our WORK
2025 Annual Report
Wipfli provides elevated client service and adaptive solutions that empower our clients to navigate change with confidence. Regardless of the industry or service, our dedicated professionals helped clients achieve their goals in 2025.
Lorem Ipsum the healthcare industry faces many challenges across financial, operational and technological areas and their ability to act as a single source of truth are transforming patient care, increasing operational efficiency, improving financial planning and more.
Explore our interactive e-book
- Kurt Gresens, managing partner, Wipfli
At Wipfli, we pride ourselves on being a true thought leader in the middle market space. We deeply understand our clients’ needs and work closely with them to provide tailored solutions that drive their growth. Our commitment to their success ensures that we remain a trusted advisor in navigating the complexities of the middle market.
Client Solutions that Drive Change
Our relationship builders inside Wipfli make these insights possible. Our associates bring care, integrity and teamwork to every client relationship — thinking alongside our clients and working hard to deliver what’s needed.
Whether it's through our innovative consulting, cutting-edge technology solutions, or financial advisory, Wipfli is committed to providing the guidance and support needed to thrive in times of change. This year, guiding our clients through the complexities of an ever-evolving business landscape has risen to a new level and our multi-discipline services got our clients to where they are going.
Services for the modern marketplace
Wipfli provides elevated client service and adaptive solutions that empower our clients to navigate change with confidence. Regardless of the industry or service, our dedicated professionals helped clients achieve their goals in FY25.
We believe in the transformative power of generative AI to accelerate innovation and amplify productivity — for our clients and our associates alike. Guided by our core values and ethical principles, we’re embracing AI not just as a tool but as a strategic enabler of long-term growth. Wipfli is actively applying generative AI to drive meaningful productivity gains, spark innovation and prepare clients and associates for the future of work. From our Microsoft Copilot partnership to consulting services, we’re turning AI potential into real-world impact — one prompt, one project, one partnership at a time.
Artificial Intelligence in action
Tribal-focused associates
62
Tribal clients
311
TRIBAL INDUSTRY INSIGHTS
Case study
Casino modernizes financial operations with Wipfli
By: Grant Eve
Read more
→
Article
How new policies could impact tribal entities
By:
ARTICLE
Tribal enterprises can benefit from clean energy investment tax credits
By: Jamison Scarpelli
Technology-focused associates
95
Technology clients
955
TECHNOLOGY INDUSTRY INSIGHTS
A tech company’s data analytics reporting for clients
CASE STUDY
01/30/2025
Shift from ad-hoc data to valuable analytics
By: Kevin Smith
View webinar
WEBINAR
7 technology policy shifts redefine regulatory landscape
Financial services associates
292
Financial services clients
3,147
FINANCIAL SERVICES INDUSTRY INSIGHTS
Gaining a unified customer view
Game-changing policy shifts will transform the financial landscape for institutions, insurers and advisors
By: Anna Kooi
RESEARCH REPORT
State of the banking industry 2025 research report
Healthcare associates
294
Healthcare clients
2,828
HEALTHCARE INDUSTRY INSIGHTS
Bringing foresight to the front lines
State of the rural healthcare industry 2025 research report
E-BOOK
A practical guide for healthcare ERP adoption
Nonprofit, government and education associates
191
Nonprofit, government and education clients
3,394
NONPROFIT, GOVERNMENT AND EDUCATION INDUSTRY INSIGHTS
Mid-year state of associations research report
Helping K-12 schools prepare for education changes
Case Study
Transforming financial efficiency
Manufacturing, distribution, and retail associates
424
Manufacturing, distribution, and retail clients
6,579
MANUFACTURING, DISTRIBUTION AND RETAIL INDUSTRY INSIGHTS
Tariff strategies: Adapting in a changing landscape
Looking at the results of Wipfli’s Q1 manufacturing pulse study
By: Cara Walton
Scaling for growth with an integrated ERP
Construction and real estate associates
232
Construction and real estate clients
8,696
INDUSTRY INSIGHTS
Streamline financials with Sage Intacct Construction
By: Matt Gelb
Open funds: An UPREIT alternative for real estate investors
By: Dannielle Lewis
Smarter construction technology management
By: Ryan Rademann
Tribal gaming and government
Technology
Financial services
Healthcare
Nonprofit, government and education
Manufacturing, distribution and retail
Construction and real estate
Our industry-specific knowledge allows us to develop strategies specifically designed for our clients’ needs. We actively monitor shifts and transformations in your industry and recognize how they can be leveraged to enhance your business performance and achieve your desired outcomes — whatever they may be. Through our everyday client interactions, comprehensive industry reports, research and thought leadership, we guided our clients in navigating the evolving business landscape of 2025.
Staying Ahead with Industry Insights
Every business has its own unique identity — that’s why Wipfli creates customized solutions for each client. Our specialization spans numerous industries, enabling us to deliver both current and future-focused solutions for every organization we serve.
Construction Real estate Healthcare Manufacturing Distribution Nonprofit Government Education Financial services Tribal gaming and government Technology Retail
Delivering solutions by industry
- Kurt Gresens, Managing Partner, Wipfli
"At Wipfli, we pride ourselves on being a true thought leader in the middle market space. We deeply understand our clients’ needs and work closely with them to provide tailored solutions that drive their growth. Our commitment to their success ensures that we remain a trusted advisor in navigating the complexities of the middle market."
Whether it’s through our innovative consulting, cutting-edge technology solutions or financial advisory, Wipfli is committed to providing the guidance and support needed to thrive in times of change. This year, guiding our clients through the complexities of an ever-evolving business landscape has risen to a new level, and our multidisciplinary services got our clients to where they needed to go.
Digital
Cybersecurity Data and analytics Digital strategy E-commerce Enterprise solutions Managed services AI services IPaaS solutions Alliances Software solutions
Outsourcing
Finance and accounting Human resources Technology Operations C-suite
Assurance
Accounting services Audit and assurance services
Risk advisory
ESG services Forensic advisory Fraud investigation and litigation support Governance risk and controls Internal controls Operational risk Regulatory and compliance Technology
Tax
Credits and incentives Individual tax International tax Specialty tax services State and local tax services
Private client services
Estate and tax planning Business transition strategy Wealth management and investment advisory services
Transaction advisory
Buy-side advisory Sell-side advisory Investment banking Valuations services
Services built for the middle market
Organizational performance
Leadership development Strategy and operations
Estate and tax planning Business transition strategy Wealth management and investment Advisory services
AI applications, automations and agents in use
12,590
hours of AI training and learning
3,178
in tuition reimbursement, CPA reimbursement and bonuses
$543K
Wipfli provides elevated client service and solutions that empower our clients to navigate change with confidence. Regardless of the industry or service, our dedicated professionals helped clients achieve their goals in FY25.
services built for the middle market
Estate and tax planning, Business transition strategy, Wealth management and investment advisory services
Buy-side advisory, Sell-side advisory, Investment banking, Valuations services
Credits and incentives, Individual tax, International tax, Specialty tax services, State and local tax services
Accounting services, Audit and assurance services
ESG services, Forensic advisory, Fraud investigation and litigation support, Governance risk and controls, Internal controls, Operational risk, Regulatory and compliance, Technology
Leadership development, Strategy and operations
Organizational perfomance
Finance and accounting, Human resources, Technology, Operations, C-suite
Cybersecurity, Data and analytics, Digital strategy, E-commerce, Enterprise solutions, Managed services, AI services, IPaaS solutions, Alliances, Software solutions
Whether it’s through our innovative consulting, cutting-edge technology solutions or financial advisory, Wipfli is committed to providing the guidance and support needed to thrive in times of change. This year, guiding our clients through the complexities of an ever-evolving business landscape has risen to a new level, and our multidisciplinary services got our clients to where they need to go.
Every business has its own unique identity — that’s why Wipfli creates customized solutions for each client. Our expertise spans numerous industries, enabling us to deliver both current and future-focused solutions for every organization we serve.
We believe in the transformative power of generative AI to accelerate innovation and amplify productivity — for our clients and our associates alike. Guided by our core values and ethical principles, we’re embracing AI not just as a tool, but as a strategic enabler of long-term growth. Wipfli is actively applying generative AI to drive meaningful productivity gains, spark innovation, and prepare clients and associates for the future of work. From our Microsoft Copilot partnership to consulting services, we’re turning AI potential into real-world impact — one prompt, one project, one partnership at a time.
47
290+
What tribal governments should know about clean energy investment tax credits
Tribal
61
1,050+
Webinar
256
3,470+
research report
190
3,100+
131
3,695+
Mid-Year State of associations research report
273
7,320+
150
9,920+
CONSTRUCTION AND REAL ESTATE INDUSTRY INSIGHTS
Our commitment to diversity, equity and inclusion is a reflection of who we are as a company. Our approach is grounded in a deep respect for every individual. It's about fostering a workplace where every employee feels welcome and valued, regardless of their race, heritage, gender, or sexual orientation. Our inclusive culture is built on the belief that everyone deserves to bring their whole selves to work and be appreciated for who they are.
People count at Wipfli
Our ability to provide guidance and translate shifts into timely insights has positioned Wipfli as a trusted leader. Our client experience and firm growth reflect our commitment to building trust and offering quality solutions.
Next: Our results
Our commitment to associate development is more than a “nice to have” - it’s a strategic investment that empowers our team to reach their full potential. When our associates thrive, our entire organization excels. Our curiosity is the trait that defines the Wipfli experience- whether that’s through internal professional development courses, universities, or professional certifications.
Investing in our people's growth
Our associates bring care, integrity and teamwork to every client relationship — thinking alongside our clients and working hard to deliver what’s needed. It’s their dedication, insight and collaboration that shape our culture and make Wipfli a place where people grow, thrive, and succeed together.
Our business resource groups empower our associates to connect, grow, and celebrate diverse perspectives. By fostering an environment of mutual understanding, professional development, and collective support, our BRGs not only enhance our workplace experience but also strengthen our ability to serve clients with empathy, creativity, and a truly comprehensive approach to problem-solving.
The power of connection
Wipfli’s annual Community Day tradition celebrated its 20th anniversary this year. Community Day not only strengthens our connections with the communities we serve but also fosters a deeper sense of purpose and camaraderie among our team. On September 26, 2024, over 1,000 Wipfli associates spent the day volunteering, contributing more than 3,400 hours to 70 different organizations and efforts, ranging from local clean-up initiatives to mentoring programs. The Wipfli Foundation also gifted a total of $130,500 to associates in the U.S. and India for our community support program, where associates can donate those funds to the nonprofit of their choosing.
Community Day: Uniting for impact
The Wipfli Foundation is our charitable giving organization that serves as a catalyst for positive change in our communities. In FY 2025, the Wipfli Foundation celebrated its 20th anniversary — and its mission of philanthropy has only gotten bigger in those two decades. We have three programs within the foundation to maximize our community impact:
Last fiscal year, the foundation expanded its mission of giving back to the communities that support us worldwide, empowering Wipfli’s associates in India to participate in the community support program. This fiscal year, we expanded our university support program to India, where we’re sponsoring student scholarships, communication training and hackathons.
THE Wipfli Foundation: Community Support
total direct contributions through grantmaking
$130k
total donated through our university support program
$313k
total donated through our community support program
$670k
of Wipfli associates give through the foundation
82%
colleges and universities supported
41
total community impact provided by the foundation in FY 2025
$1.1M
Grantmaking
1.
2. University support
2.
3. Community support
3.
Now in its second year, the foundation’s grantmaking program awarded $10,000-$25,000 to seven deserving nonprofits, including both Wipfli clients and nonclients alike.
Literacy Volunteers of Kennebec
Center for Warriors Foundation
Maya’s Music Therapy Fund
Branford Food Pantry
Cancer Wellness Center
Valley Packaging Industries, Inc.
THE CRADLE
LEARN MORE
- Durward Ferland, Wipfli Foundation President
“As we celebrate 20 years of the Wipfli Foundation and over $4 million in impact, I’m filled with pride and gratitude for the lasting, positive impact we’ve created in our communities. We’re excited to continue evolving our approach, ensuring that the foundation remains a powerful force for good, aligned with the changing needs of the communities we serve.”
In fiscal year 2025, Wipfli proudly joined the Defense Department’s Military Spouse Employment Partnership (MSEP), reinforcing our dedication to supporting and employing military spouses. This alliance aligns perfectly with our mission to create lasting, positive impact in the communities we serve. Wipfli Valor’s leadership team attended the MSEP annual meeting in January, where our team participated in workshops designed to deepen our understanding of the unique challenges military spouses face in their career journeys.
Wipfli joins 2025 MSEP partners
“By actively engaging with military spouses, we’re not just filling positions, we’re enriching our workforce with resilient, adaptable professionals who bring unique perspectives to our firm. This alliance aligns perfectly with our values and our mission to create lasting, positive impact.”
Matt Rowley, Partner and Valor sponsor
diversity, equity and inclusion partnerships with national organizations
9
Diversity Champion Scholarships awarded to interns
5
associates active in Wipfli BRGs
1,940
OUR IMPACT
Our commitment to diversity, equity and inclusion is a reflection of who we are as a company. Our approach is grounded in a deep respect for every individual. It's about fostering a workplace where every employee feels welcome and valued, regardless of their race, heritage, gender or sexual orientation. Our inclusive culture is built on the belief that everyone deserves to bring their whole selves to work and be appreciated for who they are.
Our business resource groups empower our associates to connect, grow and celebrate diverse perspectives. By fostering an environment of mutual understanding, professional development and collective support, our BRGs not only enhance our workplace experience but also strengthen our ability to serve clients with empathy, creativity and a truly comprehensive approach to problem-solving.
THE POWER OF CONNECTION
building belonging
“My coach helped me immensely to deliberately work on organizing my day/week with ‘winning the day’ on the top of my mind. That will be something that sticks with me forever, being more mindful of the time I have each day to accomplish what needs to be accomplished but to also allow me to continue making my personal life a priority.”
- Shane Weiske, Senior Manager, Audit
“Working with a coach helped me expand in not only my leadership capabilities but also mindset, having more focus on what was most important, being intentional in my actions and calm among challenging circumstances.”
- SARA FUNK, partner, audit
Wipfli’s coaching program has demonstrated its effectiveness in leadership development and showcases our team’s dedication to providing valuable resources to help you bring your best self to the workplace.
The Wipfli coaching practice was started in 2022 as a way to set ourselves apart in the competition for talent. It began with a small group of high-potential associates in the tax department and has evolved significantly since its inception. This year, the program has reached new heights with the addition of two new, full-time dedicated internal coaches and its largest coaching group yet. The program includes high-potential associates from various departments, such as audit, tech consulting and high-level partners. The outcomes have been impressive in improving performance, retention and enhancing engagement, with a notable percentage of coachees reaching their stated career goals and receiving promotions. Wipfli’s coaching program has demonstrated its effectiveness in leadership development and showcases our team’s dedication to providing valuable resources to help you bring your best self to the workplace.
a unique approach to development
Net promoter score of participants
Percentage of coachees who reached their goals
91
95%
Total program participants since 2022
223
At Wipfli, quality is a mindset embedded in how we train, support and develop our people. From day one, our associates are immersed in a learning culture that combines hands-on experience, mentorship and continuous feedback. We invest in building careers. Whether our associates are early-career professionals or seasoned leaders, Wipfli offers pathways to grow, take on new challenges and make a lasting impact. Our professionals gain exposure to a wide range of clients, industries and real-world business challenges — experiences that sharpen their skills and broaden their perspectives. This focus on quality development means clients can count on high-level service and insights from teams that are engaged, capable and continually growing.
culture of quality
investing in growth
Our commitment to associate development is more than a “nice to have” — it’s a strategic investment that empowers our team to reach their full potential. When our associates thrive, our entire organization excels. Our curiosity is the trait that defines the Wipfli experience — whether that’s through our interactions with clients, internal professional development courses, universities or professional certifications.
- Maureen Pistone, Chief Human Resources Officer, Wipfli
“Quality service starts with a culture of continuous learning. From classroom to real-world client work, we invest in developing professionals who stay, grow and thrive. That means clients can count on a deeply engaged team, and associates can count on a career full of purpose and opportunity.”
Our results
participants in leadership development training
240+
CPE credits earned internally and externally by associates
88,600+
courses completed on LinkedIn Learning
9,000
1. Grantmaking
Our PEOPLE
-
LEARN MORE [CEROS OBJECT]
“Quality service starts with a culture of continuous learning. From classroom to real-world client work, we invest in developing professionals who stay, grow, and thrive. That means clients can count on a deeply engaged team, and associates can count on a career full of purpose and opportunity.”
Matt Rowley, partner and Valor sponsor
Wipfli Foundation: Community Support
1940
Net Promoter Score of participants
At Wipfli, quality is a mindset embedded in how we train, support, and develop our people. From day one, our associates are immersed in a learning culture that combines hands-on experience, mentorship and continuous feedback. We invest in building careers. Whether our associates are early-career professionals or seasoned leaders, Wipfli offers pathways to grow, take on new challenges, and make a lasting impact. Our professionals gain exposure to a wide range of clients, industries, and real-world business challenges — experiences that sharpen their skills and broaden their perspectives. This focus on quality development means clients can count on high-level service and insights from teams that are engaged, capable, and continually growing.
Our associates bring care, integrity, and teamwork to every client relationship — thinking alongside our clients and working hard to deliver what’s needed. It’s their dedication, insight, and collaboration that shape our culture and make Wipfli a place where people grow, thrive, and succeed together.
Our people
Interested in joining the Wipfli team?
APPLY
APPLY TODAY
64%
55%
40%
38%
35%
32%
31%
Property management software
CRM or marketing automation
Investor management portal
AP automation software
Deal modeling software
Business intelligence dashboards
Cybersecurity monitoring platform
of manufacturers use an ERP
59%
plan to invest in an ERP in the next 12 months
34%
said high costs and lack of expertise were key ERP barriers
50%+
are very or extremely concerned about supply chain issues
65%
faced supply chain disruptions in the last year
of respondents said financial concerns/reimbursements are a significant challenge.
41%
As part of our continual dedication to elevate the client experience, we conduct an annual client experience study to measure how well we meet or exceed client expectations. By listening to their feedback and acting on it, we strengthen our connection and become better partners by offering proactive ideas and solutions that help our clients navigate challenges.
Client experience
"As we reflect on this fiscal year, I am proud of the achievements and innovations we have accomplished together. Our clients and associates have been instrumental in driving our success. I want to thank them for being a part of our journey and for contributing to our continued growth and excellence."
Regardless of the industry or service, our dedicated professionals helped clients achieve their goals in 2025. Regardless of the industry or service, our dedicated professionals helped clients achieve their goals in 2025.
Financial overview
Net revenue by service
$230.3M
$189.2M
$180.4M
consulting and advisory
audit and accounting
client experience index 2025:
87
90
86
88
Satisfaction with Wipfli overall
Likelihood to continue doing business with Wipfli
Likelihood to recommend Wipfli to a friend or colleague
Demonstrates value
Delivers good experiences
Makes me feel appreciated
THANK YOU
06.1.24 - 05.31.25
Increase from FY24
FY25 Net revenue
Key NUMBERS
FY2020
$392.2M
FY21
$430.6M
FY22
$506.7M
FY23
$546.4M
FY24
$590M
History of growth FY2021 - FY2025
Additonal Numbers
Awards and accolades
PARTNERS
271
FY25
$612.1M
full-time associates
3,066
As we end FY25, we are proud of the work we have done to help our clients stay resilient and navigate changes and challenges. Thank you for contributing to our growth and achievements.
thank toy
As we end FY 2025, we are proud of the work we have done to help our clients stay resilient and navigate changes and challenges. Thank you for contributing to our growth and achievements.
see our fy2024 annual report
thank you
This year, Wipfli was honored with prestigious awards from top industry publications and partners, showcasing our dedication to exceeding client needs and upholding our high standards of providing the services our clients need, when they need it.
Total new clients in FY25:
4,985
Total clients in FY25:
54,025
CX INDEX:
Built In’s Best Places to Work 2025 Kurt Gresens named as top influential business leader by BizTimeMedia’s Wisconsin 275 Kurt Gresens named to Forbes' 2025 Best-in-State CPAs list Platinum and Gold at the 2024 MarCom Awards Top 5 ranking by Wealth Solutions Report No. 6 on Construction Executive Top Construction Accounting Firms No. 11 on Accounting Today’s 2024 VAR list Bob Scott’s Top VARs 2024 Top Workplaces 2025 awards in Madison and Southeast Wisconsin 5 Hermes Creative Awards 2025 Wipfli Foundation announces 20th anniversary
Maximum index score is 100
