The Company
Philip Stein & Associates is Israel's largest firm focused exclusively on US tax accounting and finance. Their clients are US citizens living in Israel, earning in dollars, investing in the US, and building lives in both countries at once.
The business itself has the same split. Revenue comes in dollars. Operations, salaries, and vendor payments run in shekels. Several times a year, their head of finance converts a significant dollar balance into the local currency. A few hundred thousand dollars per conversion, roughly once a quarter and with higher volume at year-end. It is not optional. It is just how the business works.
The Problem with the Bank
Before Adesco, the process worked. It just did not work well.
Transfers moved on someone else's schedule, not theirs. A conversion could take days, depending on the timing of the request and whatever friction appeared along the way.
The cost picture was not much clearer than the timeline. Fees were embedded in the rate rather than broken out as a separate charge. There was no line item to point to, no easy way to know what each conversion was actually costing the business.
Why Adesco
The relationship started with a meeting between Phillip Stein, the firm's founder, and Jeff Balsam. Jeff walked him through how Adesco works: the process, the pricing, and what a more seamless flow could look like for a business running regular large conversions.
It was an easy case to make. Phillip gave it a try, found exactly what was promised, and has been a client ever since.
The Experience
The change that stood out most was not the cost. It was the time.
"Before, I would start the process and then just wait. You didn't know. It depended on the bank, or whether a holiday added a day. Now, if I want the money, I can have it the same day, almost always."
That speed matters even when there is no emergency. Managing cash flow against payroll, supplier payments, or year-end planning is easier when you know your converted funds will land on the day you expect them.
The transparency mattered too. Where the previous setup folded its fee into the rate and moved on, Adesco shows the rate and charges nothing on top. The cost of each conversion is visible before the decision is made.
The Result
Philip Stein & Associates has been an Adesco client for over a decade. That is the result.
For someone who manages legal, IT, and the financial operations of a firm while keeping the business running, "no hassle" is not a small thing. It is the whole point.
"It's a simple, no-hassle, quick service. I'm just happy with it."
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