questions and answers on selling a practice to staff members

by ed mendlowitz
author of “implementing fee increases“

i received two related questions, which i’ll answer together.

first question: i am nearing retirement and want to sell my practice to two longtime staff people, but they don’t get along, and i’m afraid to sell to them. what should i do?

second question: i have a large individual tax practice, but also have an audit practice that is handled by different staff in my firm. how do i sell this practice? none of the larger buyers want the tax clients and none of the smaller buyers want the audit clients.