Friedman & Huey
Friedman & Huey Associates LLP is an Illinois-based CPA firm serving high net worth individuals, families, business owners, and family offices across the Chicago metro from offices in Frankfort and Northbrook, providing integrated tax compliance, estate and fiduciary planning, family office, and business consulting services through partner-led engagements.
- Company typePrivate
- Founded1985
- HeadquartersIllinois City, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Friedman & Huey does
Friedman & Huey Associates LLP is an Illinois-based Limited Liability Partnership and CPA firm founded in 1985 by Elliott Friedman, CPA, JD, after his 13-year tenure at Arthur Young (now Ernst & Young). The firm operates from two Chicago-area offices (Frankfort and Northbrook) and serves high net worth individuals, families, business owners, family offices, and real estate and investment partnerships across Illinois and the broader Midwest.
The firm's service portfolio spans three integrated practice areas: Business Services (business consulting, client accounting services, and tax and compliance for entities), Family Office services (bill pay, investment oversight, and coordinated advisory work), and Fiduciary, Estate, Gift & Generation-Skipping Transfer Tax services for HNW individuals and families, alongside Individual Tax and Compliance. The offering is delivered through partner-led engagements and is differentiated by HNW specialization, multi-generational estate and family office expertise, and a structured internship pipeline. The firm maintains AICPA Group of 400 / Standard Member designations and was represented in the AICPA's Top 300 firms list in 2025; founder Elliott Friedman received the Austin Fleming Award from the Chicago Estate Planning Council.
The business model is a traditional professional services model: revenue is generated through fee-based engagements (typically quoted per scope, complexity, and hourly rates; pricing is not publicly disclosed) across tax compliance, advisory, and family office work. Go-to-market is sales-led and relies on professional reputation, referrals, content marketing (blog, resources, newsletter), and AICPA-anchored credibility. The firm employs 51-100 staff, is partner-owned (no external institutional or PE ownership), and operates as an independent regional CPA practice without software products, APIs, or AI-powered tools. John Cremins, CPA, MST, assumed the Managing Partner role in 2021, succeeding founder Elliott Friedman.
Friedman & Huey firmographics
Firmographics- Name
- Friedman & Huey
- Legal name
- Friedman & Huey Associates LLP
- Website
- https://fhassoc.com
- Company type
- Private
- Founded year
- 1985
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Friedman & Huey Associates LLP is an Illinois-based CPA firm serving high net worth individuals, families, business owners, and family offices across the Chicago metro from offices in Frankfort and Northbrook, providing integrated tax compliance, estate and fiduciary planning, family office, and business consulting services through partner-led engagements.
- Ownership category
- akta.pro rank
Friedman & Huey industry classification
Industry- Product category
- Accounting & Tax Advisory Services
- NAICS
- Portfolio Management and Investment Advice (523940), Trusts, Estates, and Agency Accounts (52592)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Family & Private Client (Trusts & Estates) Law (BPAHAAAK)
- akta.pro secondary industries
- Family Wealth & Multi-Generational Planning RIAs (HNW/UHNW-lite) (FSAAACAH), Guardianship, Conservatorship & Special Needs Trust Services (FSAEAKAG)
Keywords
Where Friedman & Huey is headquartered
LocationHeadquarters
- HQ city
- Illinois City
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Friedman & Huey business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Professional Accounting and Tax Services: Friedman+Huey generates revenue through professional accounting, tax preparation, tax planning, and financial advisory services billed to individuals, families, and business clients. Services include business consulting, fiduciary and estate planning, family office services, and tax compliance for both business and individual clients.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Friedman & Huey product offering
Product offeringCore offering
Friedman & Huey Associates LLP is a private accounting and advisory firm that provides tax planning, accounting, estate planning, family office, and business consulting services. The firm serves high-net-worth individuals, families, business owners, family offices, trusts, and real estate/investment partnerships, with deep expertise in multi-generational wealth structuring and complex tax matters.
Product overview
Friedman+Huey is a Chicago-area CPA firm offering a unified suite of professional accounting and advisory services rather than a modular software product. The firm provides Business Services (including Client Accounting Services and Tax and Compliance), Family Office services, and Fiduciary, Estate, Gift & Generation Skipping Transfer Tax services, alongside Individual Tax and Compliance for high net worth clients. The core offering centers on multilayered tax and financial expertise delivered through partner-level attention, complemented by a talent development internship program. The firm operates as a service-based practice without software products, APIs, or AI-powered tools.
Differentiator
Problem solved
Functional benefit
Products and services
- Tax Planning Services
Companies that use Friedman & Huey
Customer profileSegments4 records
Ideal customer profiles2 records
Friedman & Huey technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Friedman & Huey partnerships and signals
Strategic signalScale indicators1 record
Recent moves5 records
Expansion highlights5 records
Friedman & Huey competitors and assessment
Company assessmentBroad incumbents
- BDO USA: Top-5 U.S. accounting firm with a dedicated Private Client Services / High Net Worth practice serving individuals and families. Competes for the same HNW estate-planning and family-office engagements at the larger end of the market.
- RSM US: Top-5 U.S. CPA firm with a Private Client and Family Office practice serving HNW individuals and family enterprises. Multiple Friedman+Huey partners came from RSM McGladrey/RSM, evidencing direct talent and client overlap.
- KPMG US (Private Enterprise): Big-4 firm with a Private Enterprise / Private Client practice serving HNW individuals, families, and closely held businesses. Competes for the largest HNW and family-office mandates in the same Chicago market.
- Ernst & Young (Private Client Services): Big-4 firm whose predecessor (Arthur Young) trained Friedman+Huey's founder and that runs a global Private Client Services practice. Direct competitive overlap in HNW estate, fiduciary, and tax planning.
Direct peers
- Anchin, Block & Anchin: Mid-Atlantic–based CPA firm with deep HNW, family-office, and private-client services. Comparable in firm size and partner-led service model targeting HNW families and business owners.
- Citrin Cooperman: Top-50 national CPA firm with a dedicated Private Client and Family Office practice serving HNW individuals and families. Directly comparable client base and service-line breadth.
- Marks Paneth: Top-50 U.S. CPA and advisory firm with a long-standing HNW/family-office and private-client services practice. Closely comparable in service mix (tax, estate, fiduciary, business advisory) and target segment to Friedman+Huey.
- Withum: Top-20 U.S. accounting and advisory firm with an active Private Client / Family Office services group serving HNW individuals, families, and closely held businesses. Comparable in integrated tax + advisory + family-office positioning.
- Wiss & Company: Mid-sized CPA firm with a strong Private Client / Family Office practice serving HNW individuals, families, and entrepreneurial businesses. Closely comparable niche focus.
Regional players
- Plante Moran: Largest U.S.-headquartered CPA firm, based in the Midwest with strong HNW/private-client and family-office capabilities. Directly comparable Midwestern geography and HNW focus.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Friedman & Huey social profiles
Digital presenceFriedman & Huey compliance and trust
Trust signalCompliance2 records
Friedman & Huey financial estimates
Financial estimateRevenue estimate
Valuation estimate
Friedman & Huey leadership team
Management profileNumber of profiles
Profiles2 records
Friedman & Huey funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Friedman & Huey 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 Friedman & Huey
What does Friedman & Huey do?
Friedman & Huey Associates LLP is a private accounting and advisory firm that provides tax planning, accounting, estate planning, family office, and business consulting services. The firm serves high-net-worth individuals, families, business owners, family offices, trusts, and real estate/investment partnerships, with deep expertise in multi-generational wealth structuring and complex tax matters.
Is Friedman & Huey a public or private company?
Friedman & Huey is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Friedman & Huey founded?
Friedman & Huey was founded in 1985. It employs 51 to 100 people.
Where is Friedman & Huey based?
Friedman & Huey is headquartered in Illinois City, United States, in the North America region.
How does Friedman & Huey make money?
One revenue line is on record: professional Accounting and Tax Services.
Who are Friedman & Huey's main competitors?
Broad incumbents on record are BDO USA, RSM US, KPMG US (Private Enterprise) and Ernst & Young (Private Client Services). Direct peers are Anchin, Block & Anchin, Citrin Cooperman, Marks Paneth, Withum and Wiss & Company. Plante Moran is listed as a regional player.
Does Friedman & Huey have an API?
No public API is recorded for Friedman & Huey.
What industry is Friedman & Huey in?
Friedman & Huey's product category is Accounting & Tax Advisory Services. Its primary akta.pro industry code is BPAHAAAK, Family & Private Client (Trusts & Estates) Law, with a secondary code of FSAAACAH, Family Wealth & Multi-Generational Planning RIAs (HNW/UHNW-lite). Its NAICS code is 523940 and its SIC code is 6282.