Accounting Practice in the San Francisco Bay Area

Part of GROCO’s history can be traced back to the Marshall Plan that followed WWII and General William Draper Jr. The same investment and financial strategies that General Draper championed and refined while helping to rebuild a devastated Europe after WWII, he later brought back home. These strategies became part of the foundation for an emerging venture capitalism movement, which expanded to Silicon Valley where it flourished in the high tech environment. Modern venture capitalists (VCs) continue to make it possible for innovative solutions to be developed rapidly; benefiting the investor, entrepreneur and the general public. Some of these west coast venture capital pioneers were Mr. Greenstein’s first clients. As clients prospered, so did GROCO; throughout its history, the firm has continuously added capabilities and services to accommodate high net worth clients, particularly VCs.

Humble Beginnings…

The firm began in 1964 as a sole proprietorship of Morey Greenstein. The fledgling firm was among the first accounting practices in the new (incorporated 1956) city of Fremont, California. Real Estate developers, merchants and professional practitioners were among the early clientele, many remain Mr. Greenstein’s’ clients today. In 1973, Barry Rogoff joined the firm and later became managing partner. The practice grew alongside the local business community. By 1980, the firm had clients throughout the San Francisco Bay Area and beyond, with a second office in Palo Alto.

In 1987, Alan Olsen joined the firm, became partner in 1993, and later, managing partner. While under Mr. Olsen’s care, the practice grew to serve an ever-wider variety of industries, including manufacturing, distribution, services, entertainment and financial services. Hand in hand with its industry strengths, the firm's tax, estate and general financial planning practices (for the owners and operators of the companies it served) also flourished.

The firm's high tech practice grew during the 1980's and 1990's. The explosive growth in high technology and venture capital in Silicon Valley prompted the firm to make a strong commitment to technology in its own practice and in helping clients harness the power of network and Internet technologies in their companies. Led by Mr. Olsen, this initiative was extremely successful. The company's Web site went online in 1997 (GROCO.com), and is considered amongst the top 1% of accounting firm websites by industry insiders. In 2007, Mr. Olsen expanded the firm by three new partners: Steve Singer, Hal Friedman, and Ron Cohen. It also opened new offices in San Francisco and Danville. In 2009 a sixth Partner, Ron Boyer, was added. This gave the firm a substantial presence in key financial regions throughout the Bay Area.

In the middle and late 1990's, continuing to this day, the firm made a strong commitment to technology in its own practice and in helping clients harness the power of network and Internet technologies in their companies. Groco.com, the company's website, went online in 1997.

In 2007, the firm saw tremendous growth along with the addition of three new partners: Steve Singer, Hal Friedman, and Ron Cohen. It also opened offices in San Francisco and Danville, California, giving the firm a substantial presence in the most populous regions of the Bay Area.

Today, under Mr. Olsen's leadership, Greenstein, Rogoff, Olsen & Co. has a staff of more than 50 seasoned employees, serving clients throughout the greater San Francisco Bay Area, as well as the East Coast and abroad. Additional expertise including, Business Valuations, International Tax, Estate Tax Planning and Litigation. New services continue to be developed or acquired via mergers of smaller CPA firms.