{"id":55455,"date":"2018-08-12t05:00:22","date_gmt":"2018-08-12t09:00:22","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=55455"},"modified":"2018-08-13t10:58:59","modified_gmt":"2018-08-13t14:58:59","slug":"quick-tip-partners-investing-in-clients","status":"publish","type":"post","link":"\/\/www.g005e.com\/2018\/08\/12\/quick-tip-partners-investing-in-clients\/","title":{"rendered":"quick tip: partners investing in clients"},"content":{"rendered":"

\"\"<\/a>bonus: sample agreement language.<\/strong><\/p>\n

by <\/i>marc rosenberg<\/i><\/a><\/p>\n

during my career, i\u2019ve seen partners come to blows over this.<\/p>\n

more:<\/b> deciding how to allocate partner income<\/a> | principals who aren\u2019t cpas<\/a> | why non-compete and non-solicitation covenants matter<\/a> | handling pay during the disability of a partner<\/a> | why voting isn\u2019t such a big deal<\/a> | what\u2019s in a (firm) name?<\/a> | protect your business with a solid partner agreement<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

one partner has a non-attest client who offers an opportunity to invest in the client\u2019s business. a very common example is a client who is a real estate syndicator. this can often be quite lucrative for the partner.
\n
\nthe other partners are incensed that they weren\u2019t given an equal opportunity to invest in the client. after all, if the firm subscribes to the one-firm concept, aren\u2019t all the assets\u00a0\u2013 including clients\u00a0\u2013 assets of the firm and not of an individual partner?<\/p>\n

in my experience, a majority of firms require partners investing in non-attest clients to invite the other partners to invest as well.<\/p>\n

this is one of those provisions that are best adopted early in the firm\u2019s existence, ideally before any partner actually invests with a client. conversely, if a firm has gone 10 or 20 years without this provision and partners have been getting rich making these investments, it can be difficult and awkward to adopt this change. but it is quite possible.\u00a0<\/strong><\/p>\n

sample language for your partner agreement<\/strong><\/p>\n

here is an example of the verbiage i have seen in many agreements:<\/p>\n

“partners can participate in business investments with non-attest clients only with the approval of the firm. they should be required to give all of the firm\u2019s partners an opportunity to participate equally.”<\/p>\n","protected":false},"excerpt":{"rendered":"

bonus: sample agreement language.<\/strong>
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