one of the signs of a good partner.
by marc rosenberg
how to bring in new partners
a standard section in well-written partnership agreements is a non-solicitation agreement. this term is a bit confusing. it really should be called the “if you leave and take clients with you, you have to pay for them” section. but it means more than that. read more →
by marc rosenberg
author of how to bring in new partners
most firms vote on a one-person, one-vote basis despite varying ownership percentages. there’s good reason why. read more →
by marc rosenberg
author of how to bring in new partners
how will the duties and responsibilities of a manager change when he or she becomes a partner in the firm?
unfortunately, this is one of the grayest areas in bringing in new partners. common sense must prevail. ideally, there should be a gradual transition for new partners from their last two to three years as a manager to the first few years as a partner. during their last few years as a manager, they should:
and the difference between smaller firms and larger firms.
by marc rosenberg
author of how to bring in new partners
maybe you’ve noticed this too: many midsize and larger firms retire partners at one times annual fees or less, while smaller firms are often sold for well over that.
how can you reconcile those two very different valuations? the answer, of course, is in the math.
here are the nine essential calculations… read more →
and the two methods used by the smartest firms.
by marc rosenberg
author of how to bring in new partners
regardless of whether it is a corporation or a partnership, there is a substantial amount of accrual basis capital in a cpa firm. all the partners “own” some portion of that capital.
there are at least three methods for determining how much capital each individual partner “owns.” one of them should be avoided like the plague. read more →