{"id":77939,"date":"2020-07-23t12:30:01","date_gmt":"2020-07-23t16:30:01","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=77939"},"modified":"2020-07-29t09:19:18","modified_gmt":"2020-07-29t13:19:18","slug":"dont-let-retiring-partners-double-dip","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/07\/23\/dont-let-retiring-partners-double-dip\/","title":{"rendered":"don\u2019t let exiting partners double dip"},"content":{"rendered":"

\"senior<\/a>why pay if the firm doesn’t get the clients?<\/strong><\/p>\n

by marc rosenberg<\/i>
\nthe rosenberg practice management library<\/i><\/a><\/p>\n

here\u2019s a question that frequently arises in my consulting engagements: what are your thoughts on partners wanting to work for the firm in a non-partner role after they retire, who continue to control \u201ctheir\u201d clients while receiving deferred compensation and a salary for their work?<\/p>\n

more: <\/b>the 13 signs you have a partner problem<\/a> | covid-19, adversity and innovation<\/a> | is mandatory retirement a best practice?<\/a> | merging in sellers: what you need to know<\/a> | take yoda\u2019s advice on strategic planning<\/a> | 15 amazing organizational tactics to manage a cpa firm<\/a> | how to develop a truly progressive nextgen culture<\/a>
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the answer is rooted in the maxim: \u201cno transition … no goodwill.\u201d this means that retired partners should not have the inalienable right to deferred comp without actively and effectively transitioning their clients. if they don\u2019t transition, then the remaining partners, at their sole discretion, should be able to reduce the deferred comp payments.
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\ni would also add this: firms are free to do whatever they want in writing their partner agreements. if the partner group decides that they want to give themselves the freedom to continue working their client base, with little or no transition and pay deferred comp to retired partners and continue to compensate them at a partner level, that\u2019s their prerogative. but in my opinion, this is misguided. unfortunately, i have seen a number of founding and\/or power partners bully the other partners into agreeing to this one-sided and thus, dangerous arrangement.<\/p>\n

a typical retirement transition<\/strong><\/p>\n