Boulay
Boulay is a Minnesota-based CPA and advisory firm offering audit, tax, wealth management, outsourced accounting, ESOP advisory, and transaction advisory services to growing businesses, public companies, and ESOP clients across 35 states.
- Company typePrivate
- Founded1934
- HeadquartersEden Prairie, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Boulay does
Boulay is a Minnesota-headquartered CPA and advisory firm founded in 1934, operating as a Professional Limited Liability Partnership (Boulay PLLP) with 320 team members including 107 CPAs across offices in Eden Prairie, Minneapolis, and Mankato. The firm delivers a fully integrated professional services platform spanning assurance and audit (including PCAOB-registered public company work), tax advisory, wealth management (through Boulay Financial Advisors, LLC, an SEC Registered Investment Advisor), outsourced accounting (bookkeeping, controller, fractional CFO), ESOP advisory, transaction advisory, and risk advisory services (SOC reporting, ISO 27001 certification via ANAB-accredited Boulay Certifications, LLC, and Microsoft SSPA attestations). Boulay serves clients across 35 states, with vertical specialization in construction, manufacturing, nonprofit, real estate, renewable energy, retail, SaaS, wholesale, and search funds, and reports assisting with 50+ public offerings representing $750M+ in transaction value over the past 20 years.
The firm's revenue model is engagement-based professional services pricing, with multi-year contracts for audit, tax, and advisory work; usage-based annual SaaS pricing for its Crunchafi-powered lease accounting line ($95.92/lease under 20 leases; $79.92/lease at 20+); and recurring AUM-based revenue from wealth management. Boulay monetizes proprietary intellectual property including the RetireNAV(k) Pooled Employer Plan and WealthNAV planning methodology. Distribution is relationship-driven and direct: partner-led business development, industry specialization, content marketing (blog, podcasts, videos), and active participation in ESOP industry associations (NCEO, The ESOP Association, ESCA, MNCEO). Recent strategic moves include the integration of Crimson Peak Partners into transaction advisory, a cybersecurity partnership with UnderDefense, Crunchafi technology integration, and the launch of ANAB-accredited ISO 27001 certification services, signaling continued service line extension and inorganic growth.
Boulay firmographics
Firmographics- Name
- Boulay
- Legal name
- Boulay PLLP
- Website
- https://boulaygroup.com
- Company type
- Private
- Founded year
- 1934
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Boulay is a Minnesota-based CPA and advisory firm offering audit, tax, wealth management, outsourced accounting, ESOP advisory, and transaction advisory services to growing businesses, public companies, and ESOP clients across 35 states.
- Ownership category
- akta.pro rank
Boulay industry classification
Industry- Product category
- Accounting and Advisory Services
- NAICS
- Offices of Certified Public Accountants (541211)
- akta.pro primary industry
- Financial Reporting & Technical Accounting Advisory (GAAP/IFRS) (BPAHABAF)
- akta.pro secondary industry
- Financial Planning & Analysis Support (Budgeting, Forecasting, Management Reporting) (BPAAAGAJ)
Keywords
Where Boulay is headquartered
LocationHeadquarters
- HQ city
- Eden Prairie
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Boulay business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Assurance and Audit Services: Financial statement audits, reviews, and compilations for public and private companies, including SOC reporting, PCAOB audits, and employee benefit plan audits.
- Tax Advisory Services: Business tax advisory, individual tax preparation and planning, estate and trust services, and state and local tax (SALT) services.
- Wealth Management: Investment management, retirement planning, estate and trust planning, business succession, and personal financial planning services offered through Boulay Financial Advisors, LLC.
- Outsourced Accounting Services: Outsourced bookkeeping, controller services, and CFO-level advisory services for growing businesses across multiple industries.
- ESOP Advisory Services: ESOP feasibility studies, plan design, administration, and repurchase obligation studies for companies considering or managing employee stock ownership plans.
- Risk Advisory Services: IT and compliance risk management, including SOC reporting, ISO 27001 certifications, and Microsoft SSPA attestations.
- Transaction Advisory: M&A advisory, due diligence, business valuation, and transaction structuring services for buyers and sellers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Professional Services Engagement |
| Usage-based | Annual | Crunchafi Lease Accounting Software |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
Boulay product offering
Product offeringCore offering
Boulay is a CPA and financial advisory firm providing comprehensive accounting, audit, tax, and consulting services to businesses, individuals, and public organizations. The firm delivers assurance and audit services, tax advisory, wealth management, transaction advisory, ESOP advisory, outsourced accounting, and risk advisory services. It also operates subsidiaries providing SEC-registered investment advisory services and ANAB-accredited ISO 27001 certification.
Product overview
Boulay is a CPA firm offering a comprehensive suite of professional accounting, auditing, tax, and wealth management services rather than a traditional software product company. The firm's core offerings include Assurance and Auditing Services, Risk Advisory Services, Tax Advisory, Wealth Management, and Transaction Advisory. The primary named product is RetireNAV(k), a Pooled Employer Plan (PEP) that enables multiple employers to participate in a consolidated 401(k) plan with reduced fiduciary burden. Supporting services include SOC Reporting, ISO 27001 Certification Services, Microsoft SSPA Attestations, Lease Accounting Services, Business Succession Planning, ESOP Advisory Services, and Outsourced Accounting/Bookkeeping/Controller services. The firm operates as a unified service practice where these offerings are integrated across accounting, tax, and advisory disciplines to serve clients across multiple industries.
Differentiator
Problem solved
Functional benefit
Brands
- Boulay Financial Advisors, LLC: SEC Registered Investment Advisor providing investment advisory services and wealth management.
- Boulay Certifications, LLC
- RetireNAV(k)
- WealthNAV
- Boulay Transaction Group
Products and services
- Assurance and Auditing Services
Quantifiable outcome
- 320 team members serving clients across 35 states
- +4 more outcomes
Companies that use Boulay
Customer profileNamed customers9 records
Segments9 records
Ideal customer profiles5 records
Boulay technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature5 records
Boulay partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- UnderDefensecoreBoulay and UnderDefense announced a strategic partnership to elevate cybersecurity and compliance solutions. UnderDefense provides cybersecurity expertise that complements Boulay's risk advisory and compliance services.
- Crunchafi (LeaseCrunch)coreBoulay utilizes Crunchafi cloud-based lease accounting software for ASC 842 compliance services. Crunchafi provides the software platform while Boulay provides professional implementation and consulting services.
- Valmark Securities / Valmark AdviserscoreInvestment Advisory Services offered through Boulay Financial Advisors, LLC. Securities offered through Valmark Securities, Inc., Member FINRA, SIPC. Certain third-party money management offered through Valmark Advisers, Inc.
- PrimeGlobalminorIndependent member of PrimeGlobal, a global association of independent accounting firms providing access to international resources and networking.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Boulay competitors and assessment
Company assessmentDirect peers
- Wipfli LLP: Large regional CPA and advisory firm headquartered in the Upper Midwest with comparable assurance, tax, outsourced accounting, and industry-specialized practices serving middle-market clients across similar verticals.
- FORVIS (formerly BKD + Dixon Hughes Goodman): Recently formed top-10 U.S. accounting firm from the BKD–Dixon Hughes Goodman merger; offers audit, tax, advisory, and wealth services to middle-market clients across similar industries and geographies.
- Plante Moran: One of the largest U.S. certified public accounting and business advisory firms, headquartered in the Midwest, offering audit, tax, consulting, wealth management, and outsourced accounting services to middle-market clients.
- Eide Bailly LLP: Regional CPA firm with offices across the Midwest and Mountain West offering assurance, tax, advisory, and outsourced services closely overlapping Boulay's service portfolio and client profile.
- CliftonLarsonAllen (CLA): Top-10 U.S. accounting firm providing audit, tax, consulting, and wealth management with a comparable mid-market and SMB focus, including outsourced accounting and industry specialization.
- Moss Adams LLP: Large West Coast–anchored CPA and business advisory firm serving middle-market clients in industries such as construction, manufacturing, nonprofit, and renewable energy — closely mirroring Boulay's industry specialization.
- Baker Tilly US: Leading advisory, tax, and assurance firm serving the middle market with comparable service lines including transaction advisory, risk, and outsourced accounting practices.
Broad incumbents
- BDO USA: Top-tier global accounting and advisory firm with strong middle-market presence across audit, tax, transaction advisory, and risk services — overlapping with most of Boulay's service portfolio.
- RSM US LLP: Largest middle-market-focused global audit, tax, and consulting network; competes with Boulay for middle-market SEC audit, transaction advisory, and outsourced accounting engagements.
- Grant Thornton Advisors LLC: Major U.S. audit, tax, and advisory firm with significant middle-market and SEC-registered public-company practice that competes for the same clients and talent as Boulay.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Boulay social profiles
Digital presenceBoulay compliance and trust
Trust signalCompliance7 records
Boulay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Boulay leadership team
Management profileNumber of profiles
Profiles10 records
Boulay subsidiaries and ownership
Company hierarchySubsidiaries2 records
Boulay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Boulay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Boulay
What does Boulay do?
Boulay is a CPA and financial advisory firm providing comprehensive accounting, audit, tax, and consulting services to businesses, individuals, and public organizations. The firm delivers assurance and audit services, tax advisory, wealth management, transaction advisory, ESOP advisory, outsourced accounting, and risk advisory services. It also operates subsidiaries providing SEC-registered investment advisory services and ANAB-accredited ISO 27001 certification.
Is Boulay a public or private company?
Boulay is a private company. It is classified as management employee owned and is currently operating.
When was Boulay founded?
Boulay was founded in 1934. It employs 251 to 500 people.
Where is Boulay based?
Boulay is headquartered in Eden Prairie, United States, in the North America region.
How does Boulay make money?
Seven revenue lines are on record. Assurance and Audit Services are the primary driver. The others are tax Advisory Services, wealth Management, outsourced Accounting Services, ESOP Advisory Services, risk Advisory Services and transaction Advisory.
Who are Boulay's main competitors?
Direct peers on record are Wipfli LLP, FORVIS (formerly BKD + Dixon Hughes Goodman), Plante Moran, Eide Bailly LLP, CliftonLarsonAllen (CLA), Moss Adams LLP and Baker Tilly US. Broad incumbents are BDO USA, RSM US LLP and Grant Thornton Advisors LLC.
Does Boulay have an API?
No public API is recorded for Boulay.
What industry is Boulay in?
Boulay's product category is Accounting and Advisory Services. Its primary akta.pro industry code is BPAHABAF, Financial Reporting & Technical Accounting Advisory (GAAP/IFRS), with a secondary code of BPAAAGAJ, Financial Planning & Analysis Support (Budgeting, Forecasting, Management Reporting). Its NAICS code is 541211.