BEST OF THE INDUSTRY 2019: David Smith

Over 1,000 Greenway readers made nominations online for the Best of the Industry 2019. This inaugural reader’s choice presentation is unique – 2020’s is sure to look a little different.

Find features about the winners of categories in the Businesses & Professionals section in Greenway Magazine and online. For the CBD, Patient Care, and Advocacy sections, check out the categorical winners in the Spring 2020 issue of Greenway Patients Magazine and online.

Winners of these reader’s choice awards were recognized at the MoCannBizCon after party on March 2, 2020, at the incredible St. Louis Union Station.

These winners are definitive leaders in the culmination of this industry. Greenway Media congratulates each awardee on being recognized by their peers.

David Smith, CPA, MBA, CM&AA, of SmithPatrickCPAs was voted as the best financial planner/CPA by Greenway readers for the 2019 Best of the Industry Awards. Smith serves as treasurer of MoCannTrade, as well as the director-in-charge of Audit and Assurance Services at SmithPatrickCPAs, located in St. Louis.

“The conflict between Federal and State laws is extremely complex and interesting and requires a high level of understanding to be successful,” Smith said. “This is a welcome challenge in an industry that is often considered uncool.”

As the director-in-charge of Audit and Assurance Services, Smith works with many organizations to provide insight and guidance into the financial reporting processes. In addition, Smith leads the firm’s medical marijuana consulting group to assist licensees to navigate the complex tax and accounting rules facing this industry.

The firm’s considerations for MMJ facilities are to identify end goals, build systems and processes to support, and then give consideration to relevant, trackable KPIs (Key Performance Indicators).

“We work very closely with our business owners to provide personalized business guidance,” Smith said. “The voracity in which we follow developing legislation and rules put us in a unique spot. We are extremely well-positioned to assist businesses with the accounting, tax, and long-term planning challenges they face.”

Smith said the firm prioritizes personalized service, being always ready, and holding clients accountable to their goals.

“We leverage technology whenever possible and work very closely with our business owners to develop strong, long-lasting relationships,” Smith said. “Our goal is to be, not only responsive but proactive with relevant information and guidance for to our owners.”

In addition to MoCannTrade, Smith has served on leadership boards for the Missouri Society of CPAs, the Lighthouse for the Blint, and the Brentwood Chamber of Commerce Board of Directors.

“We bring a high level of professionalism and understanding of the financial framework to the industry,” Smith said. “We only work with operators who value our guidance and want to be the best in their market. While we certainly offer traditional CPA services of accounting, tax, and financial statement preparation, we go beyond our in-depth involvement and deep client relationships.”

When he’s not working with businesses on audit and consulting engagements, Smith enjoys racking up the miles on his bicycle and spending time with his wife, Thuy, and daughter, Cameron. He is the current governor of the Missouri Athletic Club.

“Prior to becoming a CPA, I spent several years working internationally on a variety of engineering projects,” Smith said. “For the last 20 years, my team and I have been working with business owners to maximize long-term profitability and family wealth. Supporting entrepreneurs in this space is an extension of what we already do.”