Edelstein Celebrates 50- Words from our founder
As we continue to celebrate our 50th anniversary, we thought it would be an opportune time for you to hear straight from our firm’s founder, Alan Edelstein. Later this year, we’ll be releasing a commemorative video, including highlights from an on-camera interview with Alan. For now, we’ll use this blog post as a way to share his words.
By way of background knowledge, Edelstein began as two partners, Alan as Managing Partner and his colleague Walter Goldstein. They were introduced by John Hudson from Commerce Clearing House and their relationship grew from there. Walter and Alan worked in the same building on different floors at 1 State Street. Shortly after their introduction, they formed their partnership and started their own office at the very building they had already been working in. Walter was a sole practitioner and Alan had a small practice with several employees. Soon after its founding, Jerry Jarasitis worked per diem for several years and then ended up joining the partnership.
All three founding partners, “Take great interest and pride in the company,” said Edelstein.
During his time as leader of the firm, the practice spread to 7 international countries and to 20 states in the US spanning businesses, professions, companies and included pro-bono work. His clients varied from Chairmen of the Board, Presidents and Treasurers of companies, along with large, medium, and small businesses. Some of his other clients consisted of individuals from Harvard Institute of Technology, Boston University, a Superintendent of Schools, doctors, and lawyers. He also had clients at the White House, state legislature, city agencies, MA State Tax Agencies, and a myriad of medical practices up and down the East Coast.
Alan stood at Edelstein’s helm until he retired in 1987. He continued to provide guidance and services during a transitional period until 1990. According to our founder, the single most important event of involvement in the accounting community, was that after retirement, he was appointed an adjunct professor of accounting and research fellow of the institute for accounting research and accounting for 8 years at his alma mater, Boston University’s School of Management. He taught ethics in the accounting profession and a senior course on reports, running the whole gamut of reporting statements. “It was a thrilling experience to pass on my insights to fledging accountants,” says Edelstein.
In reflecting back on his interest in accounting from his college years, Edelstein says “I never knew what accounting was, I didn’t know what an accountant was, but I just gravitated to it because I was math inclined. So I ended up being an accounting major.”
Alan highlighted what made him different, and it’s what makes Edelstein as a firm different as well, “Work ethic, attention to detail, higher standard of ethics than required, team work with staff and clients,” and most importantly that there’s, “no substitute for hard work.” As you grow in your career, “It’s a process of learning and you keep learning,” he says.
In summary and in Alan’s words, “The moral of the story is, you’ve got to work at it. You’ve got to keep running.”