Shape Your Firm’s Future
Succession is a major issue. Statistics vary, but most succession planning is not to the level it needs to be. About 50% of firms do not have a succession plan. 30% have an unrealistic plan. 20% have functioning plans with ongoing training.
Let our team review your plan or help develop a succession strategy. We have decades of only working with CPA firms of all sizes. Similar firms may require different strategies. Our goal is to ensure your plan is based on reality with continual training in place. Without a working succession plan, a firm will be forced to merge upwards.
Firm Succession Services
- Staff Assessment. Identifying potentials leaders and creating a succession training process.
Next GenGroups. A recurring group session to keep candidates engaged in the firm’s growth.
- Resolving Impaired Leverage. Developing future Partners that can sell and network.
Common Succession Issues
- Complete lack of a succession plan
- Younger professionals not wanting to own/buy-in
- No defined buy-in processes
- Concerns about automation shrinking revenue
Firms not adapting toindustry changes
- Lack of advisory services
- Unrealistic firm values by existing Partners
- Legacy partnership agreements
Begin A Conversation
Not sure if your plan is solid? You do not have a plan? Spend 15 minutes to understand your options. Contact our team today.