Ryley Carlock & Applewhite Selects New Managing Shareholder James E. Brophy, III

Ryley Carlock & Applewhite is pleased to announce that James E. Brophy, III has been elected as the firm’s new Managing Shareholder starting September 1. Jim succeeds long-time leader Rodolfo “Rudy” Parga Jr., who has served as Managing Shareholder since 2007—the second longest tenure for the role in the firm’s 67-year history.

“I am honored and humbled to take on the role of Managing Shareholder for our firm,” Jim said. “These past eight years Rudy has guided our firm with great skill. During his tenure as Managing Shareholder, Rudy has been a creative and thoughtful leader. The firm thanks him for his strong leadership.”

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A third-generation Arizona native, Jim has been an attorney with Ryley Carlock & Applewhite since 1974 and has served on the firm’s Executive Committee a number of times, including during Rudy’s 8-year tenure as Managing Shareholder. Jim has been the leader of the firm’s Corporate Practice Group for several years and served as the firm’s risk management shareholder. Jim’s legal practice focuses on securities and business law, and he is experienced in insurance and banking law. His practice includes regulatory representation before the Arizona Department of Financial Institutions and the Arizona Department of Insurance. Since 2005, Jim has been recognized by both Chambers USA and Best Lawyers in America®. Jim is a past President of the Men’s Arts Council, a member of the Board of Managers of the Legacy Foundation Chris-Town Family YMCA, and a past Chair of the Board of Directors of the Foundation for Senior Living, an organization devoted to providing low-income housing for the elderly.

After assuming the role of Managing Shareholder at the age of 38 and serving in that capacity for the last eight years, Rudy is eager to return full-time to practicing as a trial attorney. “It was always my intention to return to active practice this year, and I’m looking forward to trying cases for the firm’s clients,” Rudy said. “I will continue to represent the firm in our engagement with the business community, and I have complete confidence in Jim’s leadership.”

Before his election to Managing Shareholder, Rudy served on the firm’s Executive Committee and as Practice Group Leader of the Litigation group. Rudy was recognized in AzBusiness Magazine’s Top 100 Lawyers in Arizona edition in 2015 and was named one of the 25 Most Influential Hispanic Business Leaders in 2013. In 2012, the Phoenix Business Journal featured Rudy as one of the city’s Most Admired CEOs. Rudy is also frequently acknowledged for his community leadership, which includes serving on the Board of Directors of the Patrick Peterson Foundation for Success, Chicanos Por La Causa, Maricopa Community Colleges Foundation, and Friends of Public Radio Arizona.

1 Comment

  1. Christine, good stuff here. I would second the adcvie to get a good accountant or at least consult one, prior to creating any entity. Don’t let the corporate tax rate of a C-corp scare you off. There are certain benefits, such as a C-corp (but not an S-corp) can formally declare that all employees’ health insurance AND out of pocket health care costs are covered by the corporation. They can even choose to include the employees’ families. Given the price of health insurance and medical bills, this can be quite advantageous when the corporation consists of the writer, his/her spouse, and (adult) offspring. Most small 1-2 person C-corps zero out their profits at year end by issuing a bonus check to their employee, and/or a check to a profit-sharing plan or IRA, so that 35% corporate tax rate you hear wailing about is almost never paid by most mom & pop businesses.Obviously, YMMV (your mileage may vary). Find somebody GOOD to talk to, not H & R Block, or your cousin’s neighbor’s brother who used to be a CPA. (Disclaimer: I do work for an awesome CPA firm in Sherman Oaks, but we are *not* cheap. If you want to e-mail me offline, I can give you the contact info, but you may well be able to find a lower-priced firm elsewhere, and *I* cannot give you specific tax adcvie.)

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