Succession Planning

Practice

The 5 Priorities for Managing Partners in 2015

A global accounting association has put together a list of five important "to-do items" that managing partners must address within their firms if they want to support continued growth.
Practice

The 7 Ways to Transition Your Practice

Accountants without a succession plan are hurting not only themselves but their clients as well. Here are seven ways to see your practice continues after you retire—some of them are better than others.
Practice

Here Are Some Best Practices for Admitting New Partners to Your Accounting Firm

As we work through the succession and retirement of senior partners in our firms, a lot of us are also reviewing and updating our internal documents and agreements. A key part of the update should be focused around how we bring new partners into the firm to replace the “old guys."
Practice

Year-End Family Business Strategy and Preparation

The holiday season offers numerous opportunities to enjoy the family and bring them closer together. These special times may also be good for engaging family members in meaningful discussions about the family business.
Practice

Succession Planning: Cover These Four Bases for Every Retiring Partner

Every firm is working through the succession maze and dealing with the exit of key partners in the firm. It's the Baby Boomer bubble up close and personal, which I have written about and which every firm that I work with is dealing with.
Practice

NSA Offers Tips for Successful Succession Planning

One of the most complex business decisions an accounting practice will face is putting together a succession plan, but a recent survey conducted by the National Society of Accountants revealed that many firms do not have a plan in place.
Practice

I Want to Retire, so What's Next?

More than two thirds of accounting firms have no plan for succession. Before you dust off your fishing gear or head for the warmth and sunshine, read about taking those important next steps and by all means offer your insights and advice in today's discussion, I want to retire, so what's next?.
Practice

Stop Competing for New Business on Price Alone

Competition in the accounting industry is fierce, which can pressure some CPAs to compete for business using pricing alone. But many accountants realize this is a losing proposition.
Practice

Buying Out Retiring Partners: What Does It Take?

Does your firm's partner agreement contain the necessary elements to buy out retiring partners in the near future? Perhaps you haven't looked at the agreement in several years, or maybe your firm doesn't even have one. Here are tips on what it takes to make partner buyouts successful.
Practice

Partner Succession - It's All about Client Transition, Retention

CPA firms are wrestling their way through partner retirements and the accompanying succession issues in numbers that the profession has never seen before. It's the baby boomer bubble, up close and personal.
Practice

Mergers: Five Structures and Determining Worth

With merger mania heating up in the accounting world, it's likely most firms are either being eyed or are ogling another firm to achieve growth or, in some cases, to achieve a combination of growth for some partners and succession for others.
Practice

The Case for Mandatory Partner Retirement

Almost every firm that I work with has a succession issue in the near term. Baby boomers are retiring at an accelerating rate, and firms are coping (or not) with transition issues surrounding those exits.
Education & Careers

The Next Generation of Leadership

We're headed toward a massive transition at firms across the country as current leaders get closer to retirement. Some firms have successfully transitioned, others are preparing, and there are those that don't have any plans in place.
Practice

Innovation: Key to Growth or Succession

Many accounting firm owners are considering new opportunities and ways to reinvent their firms before handing them over to their successors. Gary Boomer offered his insights at the recent Boomer Summit.
Practice

Who Gets the Business? Why Succession Planning Is Key for Small Business Owners

Much has been written about the demographic trends and macroeconomic factors that continue to affect succession planning for small business owners. Most of it can be boiled down to three key points.
Practice

Succession Planning: Preparing for Success

Jeffery Mowery describes his firm, Mowery & Schoenfeld LLC, as an attractive and viable exit strategy for smaller firms who don't have a succession plan in place.
Practice

Plante Moran’s "Succession Transition: A Roadmap for Seamless Transitions"

Plante Moran, PLLC announces the release of its new book, "Succession Transition: A Roadmap for Seamless Transitions." This insightful resource offers strategies for creating sustainable organizations through leadership development.

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