EGP Bids Farewell to Firm Founder, Bruce Engstrom
Bruce's path to becoming a legendary accountant and CPA was not a direct one, but he was no doubt direct with his intentions and beliefs. Not only was Bruce an advocate for change, but he built our CPA firm culture on respect and with the ethical reputation that still thrives today.
You knew Bruce Engstrom by the time he left; that flamboyant personality never shied from a challenge. We're fairly sure there is a pair of brass knuckles with his name on it someplace around here.
"He had a brilliant mind; he was ferocious on the witness stand and always a force to be reckoned with. But he also loved the firm and the people in it. He would go to bat for you and always did the right thing. ", said Colin Gorman, EGP Managing Partner.
"He wasn't known for simple grace or his sense of fashion. He paid for a professional haircut three times at best", said Holly Fish, firm Director of Communications. "Bruce believed in the power of humans and coined one of the firm's long-term philosophies, - we work with people, not just numbers. Bruce had a big heart for those he loved, and he would threaten anyone who might spread such a rumor. It was a privilege to mentor beside him and it is a pleasure to call him family. Even when I wanted to choke him!" said Fish.
Bruce Engstrom, a life-long Arkansan, opened the doors to his accounting firm in North Little Rock on January 1, 1981. Four partners later joined him to form EGP PLLC. Most significantly was his long-term partnership with John Green.
"Being introduced to Bruce changed my professional, and consequently personal, life to the good forever," stated Lane Keeter, Heber Springs Partner-in-charge. "Joining my practice 20 years ago with EGP was the best professional move I've made, and in typical Bruce Engstrom fashion, he negotiated the merger by phone from his houseboat on Lake Ouachita with total integrity, trust, and professionalism. We never looked back!"
A Certified Public Accountant (CPA) with several credentials to his name, Bruce constantly challenged himself and others at the firm by encouraging lifelong learning. He would also send math puzzles to his professionals within the firm just for a bit of fun. He earned the title of Certified Valuation Analyst (CVA). He was awarded an Accredited Business Valuation (ABV) certificate and a Certified in Financial Forensics certificate by the American Institute of Certified Public Accountants. He has also served as a Master in Chancery Court, a particular Federal Court receiver, and testified as a court-appointed financial expert. He was retained by the U.S. Department of Justice, the Attorney General of Arkansas, and the Arkansas Judicial Discipline Commission as an expert in various financial matters. Due to confidential issues, we cannot reveal all the high-profile cases within the forensic world of Arkansas, but if it hit the paper – chances are Bruce was behind the scenes.
There have been many achievements in Bruce's career; it is difficult to pin them down, but one in particular stands out for all of us here at the firm. Bruce started his extensive and illustrious career in Litigation Support and Expert Witness Testimony unintentionally. Bruce was one of the first expert witnesses CPAs in the state of Arkansas and is a legend in these parts for the accomplishments he's achieved in this area of business.
His journey all started over 30 plus years ago when a long client was going through a divorce settlement. The client needed to have his business valued, and with the firm's extensive merger and acquisition knowledge, they were ready to assist. On the night before the divorce trial was to take place, the couple settled, depositions were taken, and as quickly as the settlement was read into the record, the wife suffered an accident and slipped into a coma the next day. After many years of deliberating, all the way up to the Supreme Court, this case was finally put to bed, and today, it has become the authority on when a divorce is finalized. Since then, Bruce and his team have been a part of litigation globally and are highly respected in their field. "Numbers tell a story. Once you can put all the puzzle pieces together, the truth is revealed", he would always say.
Technology was always a passion of his; so much so he was one of the first CPAs to purchase computers and force the entire firm to use them. Dedication to technology is still a significant driver in this firm.
Bruce was a member of several professional organizations, a huge community pillar, and the author of "Valuation of Closely Held Business" for the Arkansas Trial Lawyers Association Docket.
- Commissioner-Arkansas Lottery Commission
- Member-Arkansas Recreational Trails Fund Committee
- Commissioner: Argenta Downtown Central Business Improvement District No.31 of North Little Rock, Arkansas
He will be missed and never forgotten.
We will leave a diet Coke and bag of Lay's original – plain, on your desk with a side of Lizano sauce, and we will always have your back on just "how big" that fish was. You are loved –
From your EGP crew.
