GSP Financial, founded in 2016, has announced it has joined forces with CST Group to create a new entity – District Financial. GSP Financial was co-founded by Zach Giegel and George Farha, and below is an email sent by Zach on 23rd April 2020.
Full disclosure, this is a long, passionate, but necessary email that I trust you will read.
I’d like to think that over the past 3 ½ years we’ve been on a journey together. Sometimes working side-by-side, sometimes just talking on the phone late in the night or very early in the morning when you were stressing about your raise, your cash burn, taxes, etc. You needed to share your thoughts and you needed advice. We’re on a journey together, because just like you, I’m also a founder and stressed just as you did. You’ve been there when I needed your expertise and I, more recently the entire GSP team, were there when you needed our expertise.
When my co-founder and I started GSP back in 2016 we had big goals in mind. We had drive, motivation, passion, and energy, and couldn’t wait to start exercising our business strengths to help CEOs, Founders, and others reach their goals. As I’m sure you can all relate, you will never, ever forget your first few days in your new business.
It’s been 3 ½ years of many “ups”, some “downs”, and changes. The commonality we all share as founders is that we clearly understand that things change in business, the environment around us changes, the competition changes, the technology advances, and so on. We all strategize about how to properly grow our business, whether through acquisition, fundraising, or other avenues, and we all want the best for all our stakeholders.
As such, we at GSP decided to take our next strategic step in continuing to help our clients and the community we so dearly love. Effective March 1st, GSP joined forces with CST Group, a powerhouse CPA firm in the DC region, to create District Advisory.
The synergies were apparent when we first started our discussions with one another. As the “operating” founder at GSP (my dear co-founder George Farha allowed me to grow GSP with the upmost support that created an un-breakable bond between the two of us that continues to this day) I found with growth, came opportunities, but also pains. Developing talent, helping additional businesses, and performing our work for you continues to be my passion, but it was taking an increasing amount of energy and focus. The only way to continue on a sustainable growth trajectory was to look for a partner. Partners support one another and the best partnerships are those where each partner brings their unique talent and skills to the table. CST is that partner to GSP. CST has a history of providing extraordinary service to their entrepreneurial clients, and their deep tax and advisory expertise is the unique skill they will bring to the table. We need to make sure our clients are supported as they grow and change, and I’m confident that our new partnership will bring something special to our clients.
You’re probably thinking, District Advisory was effective March 1st? Why not inform us earlier than today? Fair question. The answer is a combination of 1) COVID-19, and 2) How we will continue to operate. The COVID-19 outbreak delayed and changed so much in our lives and it delayed us releasing the news until now. However, the people, service, and our office (if we can get back to it) won’t change. You will have the same team servicing you, the same chain of command, the same systems, the same fees. The name will change, the email will change (more below), and now we have more expertise for your ever-increasing needs.
Over the next few weeks we will be switching out our email, website, and branding to District Advisory. We will continue to keep you abreast of these changes. If you’re a monthly client, please be on the lookout for an updated proposal and engagement letter from my email address. For legal reasons, we need to change over the contract terms from GSP to District Advisory, LLC. Other than the name, all of our pricing and services are the same. Please do not hesitate to reach to me with questions.
On behalf of our team, our two founders, and CST Group, welcome to District Advisory!
a: 1010 Vermont Ave. NW, Ste 700, Washington, DC 20005