base retirement on today’s operations
5 critical issues and 4 behaviors of healthy organizations.
by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute
mergers & acquisitions
who decides what?
you need to ponder some questions before you answer.
by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute
everywhere you turn, you overhear someone talking about, being asked about the status of, or referring to their need to develop, a succession plan.
more on performance management: how retired partners are robbing their own firms | how involved should retired owners be? | how to find a partner’s replacement | action plans for transitioning partners | how retirement issues affect succession planning | succession: the questions to care about | 7 succession questions to ignore for now | cpa firm performance assessments: 15 core competencies, 21 questions
as a matter of fact, for the past 12 years through surveys with the aicpa, we have been asking firms to share with us whether or not they have a succession plan in place.
when you consider the responses to this question from the pcps succession institute succession management surveys conducted in 2008 and 2012, clearly more and more firms are:
- getting their act together,
- documenting their succession management strategy and
- thinking through the ramifications of retiring one or more senior owners.
here is the question we asked along with summary data from both surveys: read more →
how retired partners are robbing their own firms
if you don’t set policies and enforce retirement deals, your firm could become a financial hostage.
by bill reeb and dominic cingoranelli
as many as 30 percent of firms pay more to retiring partners than they initially agreed, according to our succession survey.
more on performance management for pro members: how involved should retired owners be? | firms say what would change retirement pay | action plans for transitioning partners | how retirement issues affect succession planning | how partner ratings factor into equity | develop your employees or suffer the consequences | what having your employees’ backs means | do cpa firms need management or leadership? | job 1 for the practice owner: client management
here’s why.
thinking ‘downstream’ merger? check these 25 potential problems first
match expectations to reality.
by marc rosenberg
cpa firm mergers: your complete guide
when checking out a downward merger candidate, do your due diligence.
more on mergers for pro members: 12 reasons to merge in a smaller firm | 3 factors that always affect negotiations | what to discuss at the first merger negotiation meeting | mergers 101: when negotiations aren’t really negotiations | 5 steps to take before merging
here are the first 16 major issues to consider:
how involved should retired owners be?
those still doing work should be under contract.
by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute
18 concerns about merging in smaller firms
the good news? they all can be overcome.
by marc rosenberg
though not universally true, larger firms will find many aspects of smaller firms to be below their own standards.
more on mergers: 20 terms to settle when merging up | 3 factors that always affect negotiations | what to discuss at the first merger negotiation meeting | what to ponder before issuing a letter of intent | plant seeds to turn up merger candidates | 13 ways to screw up a merger
the questions that the acquiring firm needs to ask are:
should retired partners take staffers with them?
is your plan upside down?
by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute
12 reasons to merge in a smaller firm
from buying talent to expanding territory, mergers can be fast ways to grow.
by marc rosenberg
if an opportunity to merge in a smaller firm were presented to you, would you be interested in pursuing it?
more on mergers: 20 terms to settle when merging up | 3 factors that always affect negotiations | mergers: assessing compatibility | case studies reveal potential loi issues | one times fees is a steal! | looking to grow your firm? how to find a seller in four steps | 14 keys to a successful merger | 5 steps to take before merging
my guess is that in excess of 90 percent of all cpa firms would answer this question with a resounding “yes!”
read more →
4 ways to create more capacity
consider creating two classes of partners.
by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute
when partners plan to retire, how do we go about creating additional capacity or freeing up the necessary capacity to handle the client transitions that need to occur?
more on performance management: partner retirement and the war for clients | succession: the questions to care about | 7 succession questions to ignore for now | develop your employees or suffer the consequences | what having your employees’ backs means | 5 harmful management attitudes (and how to fix them) | job 1 for the practice owner: client management
first, all of the “c” clients, which is our shorthand way of describing the smallest clients the firm serves – who while profitable, don’t have much opportunity to hire us for additional services – should not be transitioned to partners, but rather to managers.
read more →
20 terms to settle when merging up
what the smaller firm needs to determine. they get a say, you know.
by marc rosenberg
when a small firm considers merging upward, they listen to the terms offered by the larger firm and decide whether they can accept them. through a combination of face-to-face meetings, negotiation sessions, telephone calls and review of materials, the seller should be comfortable with each of the following:
more on mergers: what to expect when merging up | 13 questions to assess an upward merger | mergers: assessing compatibility | 14 provisions to include in a letter of intent | want to merge? ask for data | merger prep: getting to know you | plant seeds to turn up merger candidates | 13 ways to screw up a merger
1. hopefully, you have identified the problems and the goals you have for the merger (retirement, access to staff, technical expertise, management capabilities, etc.). do you see each of these problems and goals actually being addressed and resolved with the merger?
read more →
how to find a partner’s replacement
should you add a partner … or capacity? they’re not the same thing.
by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute
let’s assume you have a retiring partner. you have decided how to pay the partner for his/her value in the firm, you have pinned down the mandatory sale of ownership date (mso) so you can phase that partner out of his or her leadership role in the firm, and you have covered the single most abused part of the succession process, which is client transition. it is now time to discuss how to find replacements for the retiring senior partners.
more on performance management: action plans for transitioning partners | partner retirement and the war for clients | succession: the questions to care about | the pitfalls of equity allocation and reallocation | cpa firm performance assessments: 15 core competencies, 21 questions | how to target what skills to develop now
exclusively for pro members. log in here or 2022世界杯足球排名 today.
the most commonly asked question on this topic is “how can we find people with the same technical skills, management ability, client service capacity and vision for the firm’s future as those who are leaving?” the simple answer is “you won’t, so stop looking for that exact combination.”
read more →
19 surprises when merging up
bonus checklist: what smaller firms need to know.
by marc rosenberg
the degree to which merger terms are negotiable is often determined by the relative size of the two firms.
more on mergers: mergers: assessing compatibility | what to discuss at the first merger negotiation meeting | case studies reveal potential loi issues | merger prep: getting to know you | one times fees is a steal! | 13 ways to screw up a merger
generally, the larger the gap in firm size between buyer and seller, the fewer the items are open to negotiation. this can be illustrated by the following chart:
read more →
action plans for transitioning partners
the transition process is about making the retiring partner less attractive as the client’s first point of contact.
by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute
the key to the client transition process is the action plan that the transitioning partner needs to follow for each client.
more on performance management: partner retirement and the war for clients | how retirement issues affect succession planning | 7 succession questions to ignore for now | the pitfalls of equity allocation and reallocation | how to target what skills to develop now | job 1 for the practice owner: client management
for a small tax client, the directive could be as simple as a one-year transition and turning it over to whoever has been assigned to take over that account. for example, the action plan might be something like: