four reasons behind the succession crisis: the perfect storm.
by marc rosenberg
author of cpa firm succession planning: a perfect storm
let me warn you in advance – reader discretion is advised.
succession planning is a very sobering topic. during several retreats i have led, this issue has literally brought tears to partners’ eyes. they start popping prozac like m&ms. why? because succession planning forces us to confront our own mortality. this is never easy – just ask your estate planning clients.
more marc rosenberg:
the 15-item checklist for your next partner retreat
five new responsibilities for a new partner
planning a partner retreat for real results
the 10 biggest mistakes in reading map statistics
how cpa firms make money in turbulent times
re-engineering partner accountability [video]
why cpas aren’t making more money [video]
slow learners need not apply
10 to-do’s for a partner buyout
before the recession, the aicpa’s survey of firms’ top practice management issues consistently reported succession planning as the no. 1 area of concern. more recently, recession-related issues such as bringing in new clients, client retention and fee pressure have pushed succession planning back to no. 5, but most industry observers regard it as the no. 1 endemic problem in the cpa profession. and it’s going to get worse before it gets better.
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