Our Perspective

Standing up to the challenge on a solid foundation

When a global pandemic severely restricted business growth and national economies, RSM US LLP professionals demonstrated their leadership in the middle market by doing what they do best: Helping clients and the firm safely navigate through strong headwinds and uncertain waters.

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letter from Matt Bradvica
letter from jOe Adams
RSM US/RSM CANADA SNAPSHOT

letter from Matt Bradvica

DEAR CLIENTS, COLLEAGUES AND FRIENDS,

On behalf of the RSM US LLP board of directors, I am pleased to present the RSM US LLP fiscal 2020 annual report. The theme of this year’s report is “Innovation + Impact,” and I am proud of the steps RSM has taken this year to innovate while having a positive impact on our clients, colleagues and communities. 
Like all businesses, RSM has been tested this year and we have risen to the challenge thanks to our solid foundation, strong values, strategic focus and most of all the strength of our relationships. 
As the global pandemic took hold, our clients needed our help as they struggled to adapt to the new environment. Whether we were supporting their transition to remote work, enhancing their security and privacy, or helping them navigate the various government aid packages, our people were flexible and worked tirelessly to help clients find the right solution. We also provided thought leadership not only to the middle market, but also to the policymakers who were making decisions to help the businesses we serve navigate the crisis. 
As our people were supporting our clients, they also needed support and flexibility. I felt so proud to see how everyone at RSM rose to the occasion to help one another—and especially our colleagues who were trying to balance work and family obligations. Our employee network groups, part of our culture, diversity and inclusion program, also stepped up to provide education, insights and support for people’s physical and emotional wellbeing while they were staying at home.
Finally, our communities were also facing challenges. RSM provided $4.7 million to support our employees, local restaurants and grocers, and food banks in our communities; donated to first responder organizations; and provided technology to students to support remote learning. In addition to our firm’s activities, our people embraced our value of stewardship and stepped up with donations and volunteerism of their own. 
Some say that true character comes through during times of crisis, and I am incredibly impressed with the character RSM and our teams have shown. While many challenges still lie ahead, I feel confident about our future. We will continue to combine strong relationships with innovation + impact to make a difference for all of our stakeholders in fiscal 2021. 
Best regards,
Matt Bradvica
Matt Bradvica, Chairman, RSM US LLP Board of Directors

RSM US LLP board of directors

Joe Adams | Ty Beasley |  Matt Bradvica | Paul Guirovich | Gregg Kiehl | Sudhir Kondisetty | Frank Le Bihan | Sara Lord | Milton Marcotte | Jerry Martin | Joyce Reto | Tim Tiefenthaler

letter from JOe Adams

DEAR CLIENTS, COLLEAGUES AND FRIENDS,

It has been a year full of unexpected events. Last year, I closed my letter to you with this statement: “As I look ahead to fiscal 2020, I am excited about what the future holds and confident that RSM will continue to play a vital role for all of our stakeholders.”
I think we can agree that the future has been interesting and exciting, albeit not in the way we had hoped. Yet I am proud of how RSM has persevered and played a vital role for our stakeholders through a unique combination of innovation + impact.
RSM started the year in a solid position on the heels of yet another strong year and an owners meeting that galvanized our partners and principals around the five characteristics (5 C’s) of being a first-choice advisor—caring, curious, collaborative, courageous, critical thinkers. We took these 5 C’s and applied them with clients to help advance their businesses objectives and with our people to help advance their careers.
We took bold steps with innovation—hiring new professionals, forging new strategic partnerships, funding creative CEO Innovation projects submitted by our people, and setting up three acceleration centers focused on automation, blockchain and data analytics. And we continued our innovative Industry Eminence Program, designed to provide leading insights to the middle market, with the addition of a second class.
We also welcomed Christi Mack to our southeast regional leadership role, added new offices and colleagues by joining forces with firms in St. Petersburg, Florida and Washington, D.C., and celebrated 10 years of The RSM Classic with a donation of $3.8 million through our Birdies Fore Love program. 
Then in early 2020, COVID-19 struck and disrupted our business, as well as the clients we serve. We knew we had to approach this crisis in a way that was aligned with our values and supportive of our clients, colleagues and communities. And we knew we had to apply innovation while staying on course with our long-term strategy to navigate these uncharted waters.
Our first step was to get everyone working safely from home. Thanks to our investments in technology during the last several years, we were able to pivot to remote work very quickly. Next we focused on making sure we had the processes in place for each of our lines of business and service offerings to ensure continuity for our clients. I’m proud to say that our leaders and teams rose to this momentous challenge and provided uninterrupted client service.
We also launched a COVID-19 response center where we could share insights about business continuity planning, remote work, federal stimulus, taxes and more with our clients. Our webcast series garnered thousands of participants each week as middle market businesses navigated the pandemic, and we innovated various new service offerings to support our clients in their time of need. We also began measuring the RSM US Middle Market Business index monthly to keep a real-time pulse on the impact of the crisis.
Internally, we set four guardrails to approach the management of our own business. Keep everyone as safe as possible. Retain as many jobs as possible. Maintain compensation at current levels. And a commitment from our owners to support our people during these difficult times. These guardrails, along with a continuing focus on our long-term strategy and our values, enabled us to successfully navigate the first months of the pandemic and put us in a position to pay our employees bonuses and continue to make strategic investments in our future. 
We also found an innovative and impactful way to support our people and communities through a $50 per week food per-diem during the first six weeks of the pandemic. Employees who used the per-diem supported not only their families, but also local restaurants and grocers with their purchases, and any amount not used by employees was given by the RSM US Foundation to food banks in our local communities. In total we provided $4.7 million. 
As I look ahead to fiscal 2021, I know that the waters will continue to be choppy. In addition to the pandemic and the economic uncertainty, we are now also grappling with how to advance racial equality in our society. Each of these things alone is challenging and together they can seem quite difficult. But every challenge represents opportunity, and that’s why we choose to face the future with optimism. I believe we have an incredible opportunity right now to not just weather this storm but to emerge stronger and create a brighter future for all.
RSM is committed to making things better as we focus on delivering the power of being understood to our clients, colleagues and communities.
Best regards,
Joe Adams
Joe Adams, RSM US LLP Managing Partner and Chief Executive Officer 

RSM US/RSM CANADA SNAPSHOT

Name: RSM US LLP
founded: 1926
Headquarters: Chicago, Illinois
Managing partner
and CEO:
Joe Adams
Fiscal year-end: April 30

RSM by the Numbers

$2.7 B

Revenue
in FY 2020

986

Partner & Principal
FTEs in FY 2020

11,270

Employee FTEs
in FY 2020

87

Cities in the
United States

4

Locations
in Canada

Revenue Mix

35%

audit

34%

tax

30%

Consulting

1%

other

rsm International

$5.7B

revenues
in calendar 2019

810

offices

43K

people

120+

Countries