Partnership agreement

Staffing and compensating a financial planning practice starts with the right model.

A buy-sell agreement between the joint owners of a closely held business or professional practice is critical for the orderly continuation of the business following a “triggering event,” such as the death, divorce, disability, bankruptcy, retirement or termination of an owner.

Many firm leaders are in denial and fall short of what’s required, and that’s the principal reason why so many firms can’t get to the next level.

How can we adapt techniques that educators and educational institutions use in preparing for online classes to our fall work lineup?

Transition in CPA firms is a process that has passed the test of time and has been managed in good times and bad.

It's not just about higher status and more pay: There is plenty for new partners to know and do, and unfortunately many firms do not have any training for them.

Small and midsized firms need to prepare for a world of reduced liquidity and lower organic growth.

The pandemic is restructuring many of the calculations in mergers.

If your firm doesn't have a plan, you need to start working on it fast.

Mergers take numerous forms.

These seven questions can determine where you stand in the grim landscape of CPA firm succession planning.

Unfortunately, almost every firm has a number of partners (usually high-performing partners who are also high-maintenance partners) who either interpret partnership agreement provisions in a way that benefits them in some way or, worse yet, choose to ignore these provisions altogether.

Restrictive covenants are the prenuptial agreements of the accounting world.

Every year a number of small and mid-sized CPA firms either die on the vine, break up, or merge up if a well-run firm is willing to take them on.

While the governance structure of an accounting firm has little immediate client-facing impact, a firm must be well-governed to retain its people.

PKF Texas built a new three-leader management structure to propel growth.

Not all mergers are successful at first — they need tuning up.

When partners retire, maintaining client relationships and providing clear expectations are important building blocks for a firm’s sustained success.

Professional partnerships require hard work, according to ConvergenceCoaching founder and leading consultant Jennifer Wilson, who offers solutions for overcoming the stumbling blocks.

Far too many firms still don’t have a functioning plan.