I can’t praise enough the book that Marc has written on Partner Retirement/Buyout Plans. It was the best work within this area that I have ever read and it should be mandatory reading for every owner – and future owner – of a CPA firm.
Allan Koltin Koltin Consulting Group
CPA Firm Partner Agreement Essentials
Does Your Partner Agreement Pass the Sniff Test?
- Does your partner agreement protect your firm from disputes among partners? If not, the courts may intervene in ways you won’t like.
- Dozens of innovations have been developed for partner agreements in recent years. Is your agreement current or is it older than dirt?
- As firms move to more of a corporate governance structure, does your agreement make it clear who has the authority to make decisions?
- As firms merge with other firms and bring in new partners, do you have a partner agreement you are proud to give to potential new partners?
- Does your partner agreement address hot issues such as the legality of mandatory retirement and the increasing popularity of the non-equity partner position?
- Thirty per cent of CPA firms don’t even have a partner agreement. Are you one of them?
Marc Rosenberg has assisted hundreds of firms for over 20 years with their partner agreements. Finally, he has incorporated the hundreds of best practices he has shared with his CPA firm clients in one, concise, easy to use book. Marc walks you through every major section of a properly written partner agreement – IN PLAIN ENGLISH – including:
- New partner buy-in
- Partner retirement/buyout
- Duties of the managing partner and executive committee
- Non-solicitation covenant
- Mandatory partner retirement
- Partner duties and prohibitions
- Non-equity partners
- Issues germane to mergers
- Death and disability
- Social media’s impact
CAUTION: This book is not a template for writing your own agreement. Instead, it guides you through the process of ensuring that hundreds of firm governance essentials are addressed in your agreement. Only attorneys experienced with CPA firms should write a CPA firm partner agreement.