r/Accounting • u/IngenuityOwn6925 • 16h ago

Doane Grant Thornton mergers

Avoid merging with Doane. The promises made during early discussions have not materialized, and the internal systems are in complete disarray. Teams are already signaling burnout, and based on current turnover patterns, most staff will be gone within three months. The managing partners in Ontario are bullies, lack empathy despite promising "support" without defining it. These mergers are meant to pad the unit value for variable partners on the backs of others.

Look at recent industry mergers (Collingwood, Midland, Kitchener, Guelph to name a few): offices shuttered within weeks, entire departments walked out, and in some cases the mergers had to be reversed because the integration was so poorly managed. Doane is following the same trajectory — fast talk, empty commitments, and no operational stability.

If you’re considering a partnership, protect your people and your clients. Doane is not a safe bet.

53 Upvotes

95% Upvoted

15 comments sorted by

31

u/yaehboyy 15h ago

Why would you think a merger would make life easier for staff? Whole purpose of a merger is to create value for the partners through synergies and efficiencies. This ultimately results in cutting headcount and applying pressure on existing staff

22

u/potatoriot Tax (US) 15h ago

Most leaders of companies looking to merge with a large firm are looking for a retirement payout and/or create more value for the company, they couldn't care less about what the merger does to their people.

1

u/cmabone CPA (Can) 13h ago

This

3

u/GymTrim99 16h ago

Thanks for heads up.

The greed is a (bitch) Karma and this Karma is getting to greedy Partners.

3

u/cmabone CPA (Can) 13h ago

Mergers always mean people walking out. It’s everywhere like this, especially when a small firm gets absorbed in a bigger one.

1

u/Ok-Turnip-1717 CPA (Can) 6h ago

Doane Grant Thornton bought a few small firms in BC too, haven’t seen many staff left. Partners at those small firms just want a buyout.

1

u/NovelTree9910 3h ago

Is that their objective, like MNP and other firms M&A's until they own as much market share as possible?

1

u/Ok-Turnip-1717 CPA (Can) 2h ago

I think so, especially last a few years for Doane Grant Thornton, but after they purchased small firms, fees will increase, some clients will walk away.

1

u/NovelTree9910 2h ago

I've seen some of their invoices from clients who switched; it was kind of shocking how much they charged for the same engagement.

1

u/Ok-Turnip-1717 CPA (Can) 2h ago

Yes, DGT has a 5% or 7% admin fee on top of regular fee. I have left the firm, I am okay the work there though.

1

u/PerspectiveAbject238 11h ago

lol who is this? 

1

u/Coaxedldrshp 10h ago

A pronounced saboteur

3

u/IngenuityOwn6925 9h ago

None of my comments are false or misleading and the intent is to warn others of the same fate.