“I get the most satisfaction from my job by helping clients solve problems and issues and aiding them to plan and strategize for the future. A lot of the work in CPA firms is done in the rear view mirror – working on what has already happened. My goal is to help clients peer around the corner, see what is coming next, and start the planning for it.”
Experience and Expertise
Richard has been involved with business clients for over 30 years while in public accounting. Over this time span, he has worked with almost every kind of business imaginable; but his primary focus has been with manufactures, distributors, export and import businesses and professional services. Richard is the liaison for the firm with Nexia, a worldwide network of accounting firms. A result of this is that Richard has been involved with numerous US subsidiaries of foreign companies and has helped US clients navigate setting up their own foreign subsidiaries.
Richard has served on the boards of two community banks which has helped him develop an in-depth working knowledge of business/bank interactions. This knowledge has allowed Richard to aid clients in seeking the financing they need to grow their businesses.
Throughout his career, Richard has been involved in many purchase and sale transactions. He understands there are both technical aspects to mergers and acquisitions and there is also an art to closing a deal.
With accreditation in financial planning, Richard also is in charge of the wealth advisory part of the firm. This allows him to help clients with personal planning strategies as well as their business planning.
Richard likes to be considered part of the team with his clients where they include him in important decisions. On this team are not only the owners and management of the company but the other trusted advisors such as attorneys, bankers, and insurance professionals. He likes to develop long-term relationships where he can aid not only in business planning but also help clients navigate their personal planning. He has many clients that have been with Shannon & Associates for 20 years or more.
Certifications, Memberships and Involvement
- Washington Society of Certified Public Accountants (WSCPA), member
- The American Institute of Certified Public Accountants (AICPA), member
- Certified Financial Planner (CFP)
- Chartered Global Management Accountant (CGMA)
- Former Kent Rotary Club and Foundation Board Member
- Board Member and Audit Chair, Northwest Commercial Bank
- Former Board Member, Cascade Community Bank
- Former Board Member, City of Kent Public Development Authority
Bachelor of Arts, Business Administration (Michigan State University)
When he’s not in the office, you’ll find Richard…
…spending time with his children and grandchildren, cycling, hiking with his wife and two labs, and traveling for adventure.