Dennis Hoffbeck bought the local financial firm of Uhlenkamp and Associates Jan. 1, and has hung the new DM Hoffbeck and Associates, PLLC shingle.
Growing up on a farm near Morgan, Dennis Hoffbeck occasionally did business in Redwood Falls.
Among the places he patronized was a local accountant.
“When I was a kid, Jim Nester did my taxes,” he said.
That has now come full circle for Hoffbeck, as he purchased the business where he had his taxes done.
Hoffbeck officially purchased the local financial firm from Mike Uhlenkamp of Uhlenkamp and Associates Jan. 1, and then he hung the new DM Hoffbeck and Associ-ates, PLLC shingle.
“I’m excited to be here,” said Hoffbeck.
The 1986 Cedar Mountain High School graduate did not begin his career working in finance, but after farming and serving in various other capacities, Hoffbeck opted to go back to school. He graduated from Southwest State University in Marshall with a degree in accounting.
Over the next years he worked for two CPA firms before taking a job at Jackpot Junction Casino where he was most recently working as a director and controller. Hoffbeck had worked at the local casino for three years, and decided he wanted to get back into public accounting.
“I missed the interaction with the public,” said Hoffbeck.So, when Hoffbeck was approached by Uhlenkamp this past summer about the idea of purchasing his practice, he knew it was meant to be. Hoffbeck said he enjoyed his role at the casino, but wanted the opportunity to help the public more.
Hoffbeck said it was during a conference he attended when he realized how important it was for people like him to be of help to the general public.
“There are so many rules you have to know,” he said.
In addition to purchasing the accounting practice in Redwood Falls, Hoffbeck also purchased Schaefer & Schaefer in Fairfax.
While he did not intend to purchase two businesses, the opportunity presented itself and Hoffbeck took it.
Hoffbeck said he was looking at an accounting magazine called Minnesota Footnotes and there he saw a firm was for sale in the Hutchinson and New Ulm area. He noticed the phone number was for Fairfax.
Knowing he can’t be in two places at once, Hoffbeck is glad to know he has strong staff who remain at both locations.
“It is huge to know the staff are staying,” he said, adding that helps to make the transition of ownership smoother.
He added buying an accounting business during the tax season means being very busy from the very beginning, which also makes having those staff members already in place ideal.
In Redwood Falls, Hoffbeck has hired Chris Smith to serve as his accounting manager, and he said Uhlenkamp has also agreed to help during the busy tax season this year.
Uhlenkamp is staying in the area, but his business is going to be in the auditing portion of the business which he retained.
Hoffbeck said having worked for good CPA firms in the past has really helped prepare him for this opportunity, and he said the number one goal of DM Hoffbeck and Associates is to put the needs of the customer first and to help them in a timely manner, whether that be in doing their taxes or helping with monthly financials.
Hoffbeck is looking forward to being part of the community, and said he is likely going to be spending much of his time in Redwood Falls. Those who would like to make an appointment should call (507) 637-5725.
Appointments for the Fairfax office can be made by calling (507) 426-7591.
More information about the business and its services may also be found on the company Web site at www.dmhoffbeck.com.