Gary Adamson

As a former managing partner (MP) with a firm who religiously held an annual retreat, I can offer a few tips to you from experience that will help you get the most out of the process. You're investing a lot of time (= money) taking your top talent ...

Thousands of firms are working through the succession and retirement of senior partners and deciding along the way whether or not they can pull it off internally and stay independent. The single most important factor for success is what we see when we look over our shoulder – is the bench of people there to succeed us? It is that simple but for many firms building that bench has been a daunting task.

There is no question that the most profitable firms (defined as high per partner income) in our profession have figured out that leverage and a well managed pyramid is one of the key ingredients.

61 percent of CPA firm partners are now over age 50 and succession planning is one of the top issues of almost every firm.

Most firms are faced with 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).

There is a constant topic of conversation both inside firms and at almost every conference. It is the age-old question of partner compensation and “how do you do it”.