LBMC co-founder David Morgan was there at the start to help Petty set up his business properly and to work through those early hurdles. It was the beginning of a trusting relationship that has spanned the decades, with both companies finding big success in their respective markets.
“My first job was to help Bob with some accounting records and get them going,” Morgan says. “Back in those days, there weren’t any computers, so we set up manual accounting records and just talked about all the things that had to get done to make sure CPI was staying in compliance.”
Over the course of 40 years, what began as a partnership focused on immediate start-up accounting needs soon expanded to encompass a wide array of services, including personal and business tax returns, comprehensive tax consulting, estate planning, and entity structuring. As their business expanded, LBMC grew alongside them, supporting HR, payroll, and employee benefits needs. Greg Herman, CFP® and Managing Partner of LBMC Investment Advisors, further enhanced this by adding wealth management to the comprehensive services offered under one roof.
Today, Commercial Painting stands as one of the largest painting subcontractors headquartered in Nashville. Bob and Jon Petty are renowned in the commercial painting industry for their meticulous attention to detail and commitment to quality craftsmanship. Their expertise not only enhances aesthetic appeal but also ensures durability and longevity in diverse commercial environments. The company works with general contractors delivering quality painting, wallpapering, and other related work and has a specialty in wastewater projects.
While Nashville’s booming development over the past couple of decades has been good for business, prosperous times have come with some unprecedented challenges, including a sharp increase in competition and a shortage of willing, qualified workers.
CPI’s Jon Petty (left) and LBMC’s Mark Blackburn: a new generation building on a tradition of trust and service.
As a longtime LBMC client, however, Bob Petty understands the importance of taking the long view; he’s witnessed the preemptive and proactive approach LBMC has always taken to growing the next generation of leaders. Easing into retirement, Petty feels fortunate to have a built-in successor in his son Jon, who, after 20 years with the company, has officially taken the helm at CPI.
Having built a solid, decades-long relationship with LBMC, Petty can rest easy knowing he’s leaving CPI in the hands of a trusted partner and resource who understands his business and continues to have the company’s best interest in mind. And that relationship continues to grow today.
Mirroring the close relationship enjoyed by David Morgan and Bob Petty over the years, the younger Petty now turns to LBMC Shareholders/CPAs Chuck Tomlin and Mark Blackburn for a range of services, advice, and trusted counsel. With deep experience in auditing, accounting, and tax matters for privately held and family-owned companies, LBMC’s younger leaders are today’s steady, reliable partners in an ever-evolving business.
What sets this partnership apart is its resilience and ability to adapt, even through leadership transitions. This enduring collaboration is a testament to the power of trust and the value of a partner who evolves alongside you.
“LBMC is definitely our most trusted partner,” Jon Petty says. “I’ve grown up with David Morgan as a key advisor for the family. Today, that has expanded. Anytime we’ve got a question, I can call Mark up in a heartbeat and just ask him. There is much comfort in that.”
Learn more about Commercial Painting, Inc. at cpinash.com.
