Gilbert Vasquez was born in the ‘wealthy part of East LA’

Gilbert Vasquez grew up on 8th and Evergreen in Boyle Heights, and despite his modest beginnings, he often found a clever way to frame his upbringing. 

With a playful smirk, he says, “I was born in the wealthy part of East LA,” then he taps the side of his head, revealing the secret to his success: wealth, he believed, was a state of mind. 

His parents, originally from Chihuahua and Sonora, Mexico, carried their heritage with them—their traditions and values. 

The East LA that was in his head was a place where a boy with a loving and resourceful mother and a frugal and hard-working father could grow up to become an honest, shrewd, enthusiastic, charming and successful businessman. 

From his corner office on the 15th floor of a sleek skyscraper in the financial district in Glendale, he remembers a moment in his life at the age of ten when he ventured onto the greens at Wyvernwood in Boyle Heights.

A security guard approached him and asked him what he was doing relaxing at Wyvernwood. Vasquez responded and the guard asked him to leave. He says, “That’s the day I found out I was Mexican. It was like a fork in the road that I remember clearly. I knew that I didn’t want to change who I was but I did want to understand who I would become. And I knew that I wanted to be …. rich! I knew I had the discipline and the confidence to be rich.” 

Vasquez’s father was also worried about him because he didn't seem to be very interested in becoming a tradesman, like a plumber or an electrician. With a look of determination on his young face, Vasquez looked his father in the eyes one night and asked him for enough time to figure it out. Vasquez didn’t know what was in his future but he knew that he was good at math.

In 1970, after graduating from Cal State LA, Vasquez faced two major challenges: There were hardly any Latino CPAs, and Mexicans—alongside African Americans, Asians, Jews, and women—were often blacklisted from major accounting firms. So, Vasquez became the first non-Jew to work at a mid-sized Jewish accounting firm on the Westside. 

He excelled, and just as he was about to be offered a partnership, Vasquez made a bold decision: He would strike out on his own. 

Vasquez went to Beverly and Atlantic and found an office to go into business for himself. A friend in the insurance industry loaned him $2,500 for his seed funding. Another friend hosted a business development and networking coming-out party for Vasquez. A third friend offered him the contact for his tailor, plus $200 for a suit and an appointment with his dentist to get his teeth capped. All of these elements ended up giving Vasquez the “presence” that he felt he needed to land his first client. With a burn rate of $150 (office rent and telephone) and a monthly fee of $800 agreed upon by his first client, Vasquez became profitable very early on. 

In the years that followed, Vasquez set an ambitious goal: To sign between 25 and 75 new clients each year. By the age of 30, he was married with two children, and deeply focused on expanding his business. He joined the East LA Jaycees, a local chapter of the Junior Chamber International, and leveraged his connections to establish a Minority Trade Association. This organization would eventually become the Association of Latino Professionals for America (ALPFA). As his network grew, so did his business. He signed several CPA firms to work under his umbrella and secured a $4.2 million contract with the federal government to audit Indian tribes—an achievement that propelled him to new heights.

Now, upon the 55th anniversary of Vasquez + Company LLP, Vasquez sees the successes of his past but remains focused on the future. There are approximately 40,000 CPA firms in the United States. Four of those are considered “big accounting firms.” 

“I’ve been able to accomplish a lot and I’ve been able to be successful but a big firm like Deloitte has 500,00 employees, we have 250,” he said. “Some folks in Los Angeles, specifically Latinos, may have heard of me but we are not a household name. We’ve been able to go global with offices in the Philippines and I’ve been able to purchase assets like stocks, commercial and residential real estate but we still need to scale significantly.” 

Vasquez takes pride in fostering a positive workplace culture, ensuring high employee retention, and promoting the well-being of his staff. “I’m grateful to be happy in my life,” he adds. Looking back on his firm’s incredible journey, he is proud of the dynamics that have guided his success: Integrity, empowerment, and a hands-on approach to client service. “I’m deeply proud of our legacy,” he says, “but I’m even more excited about the future as we continue to drive innovation, leadership, and lasting impact in the accounting industry.”