Company History
Ted Schumann Sr. (Top), Ted Schumann II (Bottom left), E.J. “Mike” Schumann (Bottom Right)
The DBS Companies started out as a small, family-run accounting firm founded in 1958 by E.J. “Mike” Schumann The accounting firm’s original goal was to provide small businesses with tax and accounting services. Mike’s son Ted Schumann joined his father in the accounting business, and soon changed its trajectory as he began to specialize in working with dental clients for all of their accounting, tax, and estate planning needs. In 1989, Ted and Jack Frank founded the dental-specific tax & accounting firm Dental Business Services, which became the root of The DBS Companies.
Ted Schumann Sr., CPA, CBC, CFP®
As Ted and Jack worked with dentist clients, they noticed a pattern: most graduating dentists lacked any formal business or practice management training. After seeing several of his business-owner clients struggling, Ted began exploring related services that could benefit his clients, including business consulting, practice brokerage services (DBS Professional Practice Brokers formed 1993), and wealth management (DBS Investment Advisers, LLC formed 2000).
Ted Schumann Sr. continued to work directly in all lines of DBS business. Eventually his son, Ted Schumann II, joined the DBS Investment Advisers, LLC team and continued to assist clients with personal wealth management and office retirement plans. Today, Ted Schumann II is the managing partner of DBS Investment Advisers, LLC.
In late 2018, Reed, Mandryk & Company CPA PC merged with The DBS Companies, giving DBS a second location in the metro Detroit area.
After Ted Sr. passed away in 2019, the accounting and tax portion of the business was bought by Looby Baumgarten, P.C. in 2020. Today DBS and Looby Baumgarten, P.C. continue to work closely together with their mutual clients.
Today, The DBS Companies is comprised of:
DBS Investment Advisers, LLC
Ted Schumann II, MBA, MSF, CFP®, AIF®
DBS Investment Advisers, LLC (DBSIA) assists dentists with personal wealth management and office retirement plans. Our advisors work with clients one-on-one to develop debt-reduction strategies, build their investment portfolio, manage personal and business retirement accounts, and plan their financial future.
Ted Schumann II is now the managing partner of DBSIA. Ted is recognized as a thought-leader in dentistry in Michigan, especially as it relates to financial strategy and maximizing wealth for dentists. He is treasurer of the MDA Foundation Board of Directors and serves on the MDA Foundation Finance Committee. Ted is also a frequent speaker at both state and local dental society meetings, as well as at both of Michigan’s dental schools.
DBS Dental Sales
For over 30 years, DBS Dental Sales has served the needs of dentists who are in the market to buy or sell dental practices. They assist sellers with finding an appropriate buyer, structuring the terms of the sale, determining a fair value for their practice, and coordinating closing details with both the buyer and seller’s attorneys. For buyers, DBS Dental Sales assists with finding practices for sale in their desired area, coordinating financing options with lenders, crafting purchasing terms, and communicating with both buyer and seller’s attorneys to complete all necessary steps and documentation for the practice purchase.