Succession Planning
The #1 issue at CPA firms today is succession planning. Baby Boomer partners are getting close to retirement, but there is a shortage of partner-potentials at firms.
We have extensive experience in the following aspects of succession planning:
- What exit strategy should we pursue: passing the firm down to younger partners, merger or sale?
- If a merger or a sale makes the most sense, how should this be implemented?
- When do the partners plan to retire?
- Are the firm’s younger partners willing and able to buy out the older partners?
- How can we develop our staff into partner material?
- How should we structure our partner buy-out plan?
- What are the criteria for making partner?
- How to bring in new partners (ownership, buy-in, compensation, etc.)
CPA Firm Succession Planning: A Perfect Storm
Step by step approach; challenges for older and younger partners; overarching initial decisions; leadership development and bringing in new partners; managing partner and client transitions; how firm governance must change as the firm grows; mergers as an exit strategy.
Learn MoreTestimonials
“Our 3-partner firm recently purchased 7 Rosenberg books including partner compensation, partner agreements, succession planning and management/firm governance. The books are a superlative blend of Marc’s years of consulting to medium and small CPA firms and the know-how that goes along with it. We are finding these books to be an excellent resource for ideas and a roadmap to guide the tough conversations that partners need to have regarding these key issues.”
Brian Bray, MP
Benton Bray, PLLC
Bellevue, WA