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adding new partners: 19 reasons to choose between equity and non-equity

the ways they differ.

by marc rosenberg

it’s worth exploring the reasons for equity partners in great detail.

here are the key points:

  1. new partners deserve the promotion to such a great extent that the firm can’t afford not to admit them to the ownership ranks.
  2. the firm needs to expand its partner ranks.
  3. the firm needs to replace a departed partner.
  4. it rewards longtime managers who have solid client service skills.

more: what firms should address in partner agreements | six systems used to determine partners’ goodwill payments | fifteen steps to new partner buy-in | four philosophies for managing a cpa firm | public accounting as a business, 101 | 16 steps to creating a partnership path | six ways new partners differ from managers | the four essentials for every new partner
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  1. it’s part of a succession planning strategy.
  2. partner promotions send a strong message to the staff.
  3. it energizes the partner group.
  4. it’s part of a merger strategy.