Our Firm
O’Connell & Company is a third-generation accounting firm based in the Philadelphia area. O’Connell & Company opened its doors as Robert A. O’Connell & Co. on August 1, 1930. George O’Connell continued his fathers’ legacy and renamed the firm in 1986. In August, 2019, the firm made its next transition when Terence O’Connell and Robert McNamee took ownership of the firm. In January, 2021, Terence and Bob welcomed Kenneth Line as a member to manage the firm’s tax practice. For nearly 100 years, our passion has been to provide quality accounting services to a broad spectrum of clients at reasonable fees. We pride ourselves on the personal service we bring to each and every client, which sets us apart in an age of remote and automated services.
O’Connell & Company provides quality accounting and tax services to a wide spectrum of clients. Our areas of expertise covers audits, reviews, and financial statement preparation to complex tax management and accounting services. Our commitment to service is why O’Connell & Company is a recognized leader in providing accounting and tax services to a vast array of clients including
- Private Primary & Secondary Educational Institutions
- Closely-held Private Companies
- Real estate investment and development partnerships
- Restaurants
- Retail operations
- Physician and medical practices
- Colleges & Universities
- Single Audits (Uniform Guidance Audits)
- Individual, Partnership, and Corporate Tax Returns
- Private aircraft partnerships
- Religious Organizations
- Social Service Organizations
- Health and Wellness Organizations
- Business Associations
By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they deserve.
Our dedication to high standards is the reason our client base returns year after year and is our main source of referrals for new clients.
Our
Mission
We believe the quality of accounting service emanates from the people who actually perform the service. At O’Connell & Company, each client and each engagement is treated individually and must be regarded as important to the overall success of the firm. We strive to be a trusted resource for our clients, helping them achieve their goals.
Providing quality services to our clients requires that all personnel must be proficient in general accounting skills, information technology, and have knowledge of the client’s industry and any specialized accounting required. Providing quality professional accounting services also requires that the person providing the services have solid interpersonal skills along with a broad business background. This enables them to assist clients by being a resource for business planning and decision making, for developing sound and practical accounting and reporting systems and controls.
Our Members
Terence M. O’Connell
Terence graduated magna cum laude from Saint Joseph’s University with a BS in Accounting and minor in Philosophy in 2004. He began his career at PricewaterhouseCoopers, but realized he enjoyed working with mid-sized clients and non-profits. Since joining O’Connell & Company in November 2005, Terence has led the audits, reviews, and compliations of private academies and high schools, small, closely held corporations and partnerships, religious institutions, and health and welfare organizations.
Terence also enjoys providing consulting services on budgeting, financial planning, and strategy matters, where he can help clients answer the big questions of why and how things get done in their business. Since assuming the role of President in August, 2019, Terence has been focused on continuing the standard of excellence set by his father and grandfather. Together with Bob & Ken, Terence looks forward to developing new, enduring client relationship built on trust. When not performing client services, Terence spends his time building the staff at O’Connell & Company and helping them achieve their goals and potential.
Away from work, Terence volunteers his time as the Coordinator for the Archdiocese of Philadelphia CYO Track & Field league and coaching youth sports. He lives in Harleysville with his wife Meghan, and their four children. His hobbies include reading, drawing, and a peaceful afternoon nap. Terence hopes one day to visit the Great Pyramids of Giza and to make the perfect cheesesteak.
Robert J. McNamee, III
Bob McNamee graduated from West Chester University in 2001 with a Bachelor of Science degree in Accounting. Upon graduating, Bob began his career at O’Connell & Company. With over twenty years of experience at the firm, Bob has become a trusted advisor, working on audits, reviews, and consulting engagements for a diverse array of nonprofit organizations. His expertise spans colleges and universities, private high schools and elementary schools, religious orders, and social service organizations.
Bob is married to his lovely wife and best friend, Colleen, and they have two wonderful children and a fun-loving dog. Dedicated to giving back to the community, Bob has volunteered as treasurer for several local nonprofit organizations and currently serves as the Treasurer of Saint David and Our Lady Help of Christians Catholic Youth Organization. Bob and his family enjoy spending summer vacations down the shore and rooting on the Phillies and Eagles. Go Birds!!
Kenneth Line
Ken has been the tax director of O’Connell & Company since joining the firm in 2018, and is responsible for the development, management, and quality of the firm’s tax functions. His career has spanned more than twenty-four years in private and public accounting, including experience as Chief Financial Officer of several privately held companies in the security alarm, aviation, and private equity spaces. He currently services clients in various industries, including residential and commercial real estate construction and development, SEC/FINRA investment advisors (IAs) and registered investment advisors (RIAs), SEC/FINRA registered broker-dealers, restaurants, onshore and offshore private equity, medical and hospice practices, medical and recreational cannabis, and professional sports, among others. He has extensive expertise in handling tax matters for high- and ultra-high net worth individuals and families, complex federal and multi-state tax matters for individuals, partnerships, and corporations, as well as trust and estate planning and transition planning. Ken has advised and facilitated numerous large sale and divestiture transactions for partnerships and corporations, including asset sales, stock sales, and F reorganizations, and is intimately familiar with related current and emerging state and local tax matters. He is a member of the American Institute of Certified Public Accountants (AICPA) and the Pennsylvania Institute of Certified Public Accountants (PICPA). Ken obtained his bachelor’s degree in 2000 and his MBA in Finance in 2006 from Saint Joseph’s University.
