[IMGCAP(1)]Most firms face the dilemma of keeping long-term managers who are major contributors to the firm, but for whatever reason are not ready to be equity partners, or who perhaps never will have what it takes to be equity partners.
In the past, many firms would not make the decision to outplace some long-term managers since from various perspectives, including client service, engagement and staff management, profitability, etc., they did a great job. But there were missing pieces that prevented making them an equity partner.
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