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HISTORY LOCATION TECHNOLOGY FINANCIAL CONSULTANTS FIRM PURPOSE CULTURE
HISTORY Since its inception on January 7, 1964, the firm has experienced continuous growth and success. Fred Lockwood originally acquired the public accounting business of Felix Taylor in Mitchell, Nebraska. Two years later, the tax practice of George Vogler was acquired and in September of that same year, Fred Lockwood merged his practice with Philip G. Johnson & Co. October, 1972, the firm of Philip G. Johnson & Co. acquired the accounting practice of E.W. Gustafson, CPA, in Scottsbluff. The practice of LaVarre Daley, P.A. in Scottsbluff was acquired in December, 1973. At this time, Carol (Hilyard) Lockwood joined the firm. December, 1976, Fred Lockwood withdrew as a partner of Philip G. Johnson & Co., and acquired the firm's interest in the Gering-Scottsbluff practice. Carol Hilyard and Fred Lockwood formed the partnership Fred A. Lockwood & Co. in January, 1977. The accounting practice of E. Olaf Blumson, P.C. was acquired in Torrington, Wyoming in November, 1984. Daniel G. Garrett, CPA of Chadron, Nebraska merged his practice with Fred A. Lockwood & Co., P.C. in November, 1988, and remained as a shareholder until September 30, 2008. January 1, 1989, the practice of Larry W. Andersen & Co. in Kimball, Nebraska was acquired. October 1, 1990, James R. Gardner advanced from Manager to shareholder. Troy L. Hilyard was admitted as a shareholder on October 1, 1994. Fred A. Lockwood & Co., P.C. acquired the practice of Gregory J. Detty, CPA, on October 1, 1997. Liz Hilyard was admitted as a shareholder in October 2005, Annie M. Loutzenhiser was admitted as a shareholder October 1, 2008 and Vincent T. Ryan was admitted as a shareholder October 1, 2010.
LOCATION Fred A. Lockwood & Co., P.C., located in Western Nebraska has a trade area over a radius of 240 miles. The population in the trade area is 90,000. The firm being in existence 40 years in a rural area naturally gravitated to agriculture as a primary niche, but not its only one. By default this niche in agriculture had its beginning when in 1964, 50 of the 100 tax returns filed were farmers. Total volume that first year was $7,600. Presently, the firm, which provides services to individuals, businesses, and governmental entities in rural western Nebraska, eastern Wyoming, southern South Dakota, and northern Colorado, prepares 2,000 tax returns, of which 500 are agricultural related, and its 2010 revenue was $2.4 million. The firm is licensed to practice public accounting in Nebraska (permit no. 16537), Wyoming (permit no. 38163), Colorado (permit no. 12769), and South Dakota (permit no. 711). Click here to see our Peer Review and Opinion Letter. Currently, full-time offices are located in Scottsbluff and Chadron, Nebraska.
TECHNOLOGY Through the years, with changes in technology, it was inevitable that the firm became involved in the field of information technology. Each of the locations has high speed Internet access with the ability to transfer information between the locations. Voice Over Internet Protocol is used to eliminate long distance charges from office to office and a Citrix server allows users to connect to the network from any location. The firm has been scanning tax returns and electronically storing all archived documents since 1997. With the implementation of a paperless office software in October 2004, the firm is now preparing all tax and audit workpapers electronically as well as electronically filing all income and payroll tax returns.
FINANCIAL CONSULTANTS Fred Lockwood received his Personal Financial Specialist (PFS) designation in November 1999. Being a firm believer of primarily a fee-based approach, the question was how to get there. The firm formed FALCO Financial Services, Inc.*, in January 2000. This affiliate organization now has four full time equivalent employees in two locations with $45 million under management for fee. FALCO Financial Services, Inc.* is a Registered Investment Advisor in Nebraska, Wyoming and Colorado; and four partners in the accounting firm serve as Investment Advisor Representatives. Jim R. Gardner, CPA and Troy L. Hilyard, CPA both received the PFS designation from the AICPA in September 2005. Fred A. Lockwood is licensed to offer life, fixed annuities, and health and accident insurance in Nebraska, Wyoming, South Dakota, Colorado and Texas. Troy Hilyard and Mike Benepe are licensed to offer life annuities and health and accident insurance in Nebraska. *"THIS COMMUNICATION IS STRICTLY INTENDED FOR INDIVIDUALS RESIDING IN THE STATES OF COLORADO, WYOMING AND NEBRASKA. NO OFFERS MAY BE MADE OR ACCEPTED FROM ANY RESIDENT OUTSIDE THE SPECIFIC STATES REFERENCED." Investment products offered through registered representatives of Pursha Kaplan Sterling Investments (PKS). PKS is an investment products broker-dealer and registered investment adviser. Member FINRA/SIPC. Headquartered at 18 Corporate Woods Blvd., Albany, NY 12211. Financial Planning Services offered through Falco Financial Services, Inc., Registered Investment Adviser.
FIRM PURPOSE Fred A. Lockwood & Co., P.C. aspires to develop a distinctive Certified Public Accounting Firm through the growth of personnel. We make a total commitment to the individuals of the Firm to assist them in becoming mature and well-rounded people, not only in their technical ability, but also in their physical, emotional, mental, and spiritual areas of life. As a result, the Firm attracts and retains exceptional people with a balanced view of life and business in order to meet and serve the needs of our clients and community in a manner unique to our profession. The Firm is dedicated to client service and our purpose is to provide high quality and timely accounting, auditing, tax, and management advisory services to individuals, businesses, and governmental entities in rural Western Nebraska, Eastern Wyoming, Southern South Dakota, and Northern Colorado. The Firm utilizes a team approach to provide accessible, innovative, and progressive services which enable us to use our expertise to assist our clients in achieving their financial objectives. Our goal is to anticipate the needs of our clients and respond to them with targeted, high-value services. To this end, we want to be known as wise and trusted counselors. As a result, clients, on their own initiative, will refer us to other businesses, associates, and friends. Excellence is our goal, and we strive for it in everything we do. We will never be satisfied with anything of a second class nature. With that attitude, our personnel are fulfilled, our clients’ needs are met, and new clients will desire to be served by us. Our purpose results in an organization which is profitable, not only financially, but also personally from the standpoint that security, meaning, direction and enjoyment are added to the practice of public accounting. Fred A. Lockwood & Co., P.C. will continue to strive to develop unique, innovative, and progressive ways to accomplish this purpose.
CULTURE Fred A. Lockwood & Co., P.C. believes an organization’s culture makes the difference in today’s business world. Furthermore, that culture should represent the values of its leader. The culture of the firm is characterized by these thirteen attributes. Pressing for action Staying close to the client Striving for effective productivity through people Seeking creative, innovative, and progressive ideas Maintaining positive attitudes Hiring exceptional people Providing superior training Requiring accountability and responsibility Challenging people to grow Demanding integrity Communicating effectively Being concerned for the welfare of others Community involvement
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