Hard to believe it’s been half a century since Ramsay & Associates first opened its doors. And while there is a different Ramsay at the helm these days, the firm’s competencies remain as solid as the financial foundations it builds for clients. Keep reading to learn more about how this local, family-owned business got from there to here as Ramsay & Associates celebrates 50 years—and accounting.

Early Investment

Five decades ago, Rich Ramsay started a small accounting business out of his home before moving it into a building across the street three years later—the same address Ramsay & Associates has today. The office’s proximity made it convenient for Rich to be home for dinner, even during the busy tax season. It also made it easier for son Brady to see his dad on the way to and from school.

“I’d get off the bus after school, stop in to get candy, then walk home,” he said.

And like most kids who emulate their parents, it was only a matter of time before young Brady decided to follow in his dad’s footsteps.

“I knew from a young age, probably fifth grade, that I wanted to be a CPA,” Brady said. “I was good at math, and since my dad was a CPA, it seemed like a good path.” He spent time in the office helping out with small, simple tasks like cleaning and sorting mail. And the rest, they say, is history.

Accounting History in the Making

With the idea of a CPA career already on his horizon, Brady implemented the necessary steps to work his way there. He took a business class in high school that allowed early release for work. During those shortened school days, he spent time preparing tax returns in his dad’s office. 

Then, while majoring in accounting at the University of Minnesota-Duluth, Brady was hired by a large national CPA firm after a friend put in a good word on his behalf. 

“I was preparing tax returns and working with senior accountants/managers while other student interns were in the file room,” he said. That kind of experience gave Brady a clear advantage over others just getting into the business, and he was well on his way.

With plenty of industry familiarity under his belt by graduation, Brady found a number of options for CPA positions in Arizona. So, he and his now-wife Heather spent a few years there, where Brady continued to hone his skills.

“I gained invaluable experience working for and with the people I did,” he explained, “which set me up to return to Minnesota further along in my career than most would have been at that age.” 

So, when Rich needed to fill a CPA position at that time, he knew just who to call.

All in the Family

In late 2006, Brady joined the team at Ramsay & Associates—not so much working for his dad but rather paving his own way. While they share a name and other similarities, each has his own approach to working with clients.

“For the most part,” Brady said, “my dad listened to my ideas and never really tried to tell me how I need to do things or handle clients. Even today we have different styles, but he’ll admit that it works for me.”

Now, 50 years from its inception, Ramsay & Associates continues to evolve while providing the services its clients have come to rely on. That’s everything from preparing tax returns to financial statements, payroll, bookkeeping, and consulting and business advisory, which Brady said clients are once again finding value in.

“We try to adapt to the changing needs of our clients,” he added.

Cheers to 50 Years

Today, as this local accounting firm celebrates 50 years, everything has come full circle. Brady’s kids are the ones stopping in to see their dad and get candy. He lives close to the office and appreciates a schedule that allows him to see his family, even during the busy tax season. 

And he still enjoys working with numbers to the benefit of his clients. “Taxes are very technical and intimidating for a lot of people,” Brady said. “I enjoy being able to help people navigate that, reduce their tax burden, or just educate them on certain tax situations.” 

Going forward, the plan is to maintain the formula that has been successful over the last 50 years. 

“It’s pretty incredible that it’s been that long since the company started,” Brady said. “And to not only hit 50 years in business but to have a second-generation ownership carrying on the hard work from the early years is really special.”

To learn more about the tax, accounting, and business advisory services Ramsay & Associates offers, visit the website or contact a team member today.