Sisters CPA sells thriving practice

Scott Lamoreaux is one of Sisters' business success stories.

He moved here in 1992 and hung out his shingle as a Certified Public Accountant (CPA). He had experience working for national accounting firms but came to a relatively remote and rural area and started pretty much from scratch, with no clients.

"I essentially had none," he said. "I had a few that I brought from California but as far as clients here, I didn't have any."

That didn't last long. With a reputation for excellent work and good customer service, Lamoreaux built a practice that now exceeds 200 clients.

Now, Lamoreaux has sold his thriving practice to a growing Bend-based firm, Capstone Certified Public Accountants, LLC. Lamoreaux will stay on for a year to facilitate a smooth transition. Capstone will also retain accounting specialist Betsy Fegette.

Lamoreaux had been looking to sell for some time; he wants to focus on family needs and to get out from under the yearly grind of tax season.

But he hadn't found a firm he felt was compatible with the needs and interests of his clients. Then, a client of Capstone's recommended the firm contact Lamoreaux.

"It was actually very lucky, very fortuitous," said Capstone's Lance Bryant.

The firms fit well in service and philosophy.

"Their practice in Bend is very similar to what I do out here," Lamoreaux said. "It was really a good fit that way. Our billing practices and billing philosophy are similar, so there was a good fit in that."

Lamoreaux was also impressed with the strength of the CPAs' background and experience.

Capstone is positioned to grow - which is not a common situation for accountants in Central Oregon, especially the sole practitioners.

"Most accountants have a work load where they can't take on any more business," Lamoreaux said. "I was every week turning away business."

Capstone is ready to take that business on.

"We want to grow the business significantly in Sisters," Bryant said.

While many of the services Capstone offers are similar to what Lamoreaux does, the firm offers some other lines of service that will be new for the clients, including wealth management services.

Lamoreaux is not retiring. He will retain five "client groups" and plans "to focus and do more in-depth work with those five."

Capstone and Lamoreaux will host a reception at FivePine on August 28 to introduce the firm to clients. For more information on Capstone call 382-5099.

Author Bio

Jim Cornelius, Editor in Chief

Jim Cornelius is editor in chief of The Nugget and author of “Warriors of the Wildlands: True Tales of the Frontier Partisans.” A history buff, he explores frontier history across three centuries and several continents on his podcast, The Frontier Partisans. For more information visit www.frontierpartisans.com.

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