Perry D’Alessio is the CPA-Managing Partner at D’Alessio Tocci & Pell, LLP. He has over 20-years of experience in public accounting, and specializes in the taxation of closely held businesses and their owners, as well as high wealth individuals.
How did your career as a finance executive take off, and what do you attribute your success to most?
Longevity, persistence and always doing the right thing no matter what it cost. I also search for associations with bright people, as chemistry between people moves business forward in ways you can never imagine. Study hard, read and create constantly; of course most of what you create will fall flat. However, when you hit it right, it feels brilliant and worth the effort. As well, having a charitable purpose makes life fulfilling and takes the emphasis off of the ordinary.
How do you keep yourself motivated and driven by your work, regardless of how busy you are day to day?
My experience growing up without much, combined with my insistence on living a life free from financial worry, keeps me pressing on.
Over time I was fortunate to find exciting people to work with, and it became a fun and creative process. I enjoy it all now very much, and I feel blessed to have the opportunities I do.
What do you see as the future of the financial world?
We are in a global economy, and the world is becoming smaller place to do business in.
I see the future as having an increased emphasis on quality reporting and proper compliance. I see this a good thing, as it builds better foundations for business that last.
From a personal investment point of view: portfolio management websites have become so intuitive they are empowering people to handle their own finances competently. The role of a financial planner is diminishing as a result.
What is your best finance-related tip for businesses?
Create and manage processes for planning and development. Do not skip the board meetings, and work hard to attract intelligent and dynamic people to your table.
Develop lines of business that are not too far removed from your core business, and grow at a pace that allows you to fund growth at least fifty percent from cash flows. This limits the debt you take on to point where modest development results will still allow easy repayment.