Succession planning
Two-Stage Deals
Originally published in the Journal of Accountancy by the AICPA March 2006
A sequenced transition can smooth a firm’s ownership transfer.
Succession Planning: What Are the Roadblocks in Most Mergers? Is Anything "Easy"?
Originally published in the June 2010 CPA Practice Managment Forum, a monthly journal published by CCH, a Wolters Kluwer business. After being involved with hundreds of mergers and acquisitions of accounting firms over the past 20 years, we have found a trend: the bumps in the road are the same whether the mergers are between firms of equals or a smaller firm is merging into a larger one. Conversely, some surprising things are not as hard to overcome as one might think.
Succession Planning--Valuing Partner Equity in Larger Firms
Originally published in the CPA Practice Management Forum, December 2009, Succession planning is the foundation that creates a successful transition of client relationships. This article discusses how to capture and measure the value of the firm once the succession has commenced.
Replacing Retiring Partners
Originally published in The CPA Journal, October 2009
The gap between accounting firm owners’ need for successors and the available pool of partner-level talent will continue to widen due to demographic changes as baby boomers age and retire to be replaced by a smaller cohort. This is probably the single most important long-term issue facing small and medium-sized firms. Many of the mergers occurring in today’s market are driven by firms’ inability to find successors for their partners internally.
Succession Planning: The Available Strategies and How They work
Originally published in the CPA PRACTICE MANAGEMENT FORUM, a monthly journal published by CCH, a Wolters Kluwer business, October 2009.
With the aging of the Baby Boomers, succession planning remains an integral part of looking to the future. This article discusses how to manage partner transition within the firm.
The Value of a Smooth Transition in Tough Times
Originally published in the AICPA SMALL FIRM SOLUTIONS, Spring 2009.
During a time of economic uncertainty, both buyers and sellers will be giving extra scrutiny to all aspects of a merger or acquisition. A key measure of a deal’s success is the percentage of clients retained after-wards. To plan for the highest level of retention possible, start by considering why you have your clients. Most are unaware of your competency level. They trust that you are knowledgeable and capable, but the key word is trust. You are their most trusted business adviser and this trust can be taken advantage of, in a professional and ethical way, and should not be feared.
Succession Planning for the Sole Practitioner
Originally published in the AICPA SMALL FIRM SOLUTIONS, Winter 2008. Effectively transitioning your client relationships to a successor firm should also maximize the value of your practice.
Current Trends Surrounding M & A of Accounting Firms
Reprinted with permission from Inside Public Accounting December 2007
A look at how the market is changing and why to start planning succession earlier then in the past
Mergers of Accounting Practices
Originally published in Today’s CPA November/December 2007
The Whys/Why Nots/How/When and With Whom?
Succession Planning: Where Do You Stand?
Originally published in the AICPA SMALL FIRM SOLUTIONS, Summer 2007
When should you commence your Succession Plan
If the Shoe Fits
Originally published in Insight, the magazine of the Illinois CPA Society August 2007
Practice Continuation Agreements: how they work, who should have them.
Unique Approaches to Succession Planning for Accounting Practices
Originally published in Leaders Edge, the Michigan State Society of CPAs March/April 2007
An overview of the varying considerations in planning for an internal or external succession.
Succession Planning
Originally publishes in Florida CPA Today Nov/Dec 2006
You have devoted years to building your practice. With proper planning, you can maximize the value of your firm through a sale where everyone wins: you, your clients and the successor firm.
M&A Foretold
Reprinted courtesy of INSIGHT Magazine, the magazine of the Illinois CPA Society, August 2006
The need for succession security, client growth and staff talent continues to drive the desire for mergers and acquisitions.
Mergers and Acquisitions
The questions you need to ask - the answers you need to know...
Reprinted with permission from the NATP TAXPRO Quarterly Journal Spring 2006
Lately there’s been a tremendous amount of news about the buying and selling of accounting and tax practices. Regardless of your intentions its important to examine valuation techniques and market evaluations. Here’s some M & A Q & A’s to consider.
There's Still Time!
Reprinted with permission from Accounting Today Vol. 20 No. 2 Jan 30-Feb. 12 2006
Now may be the best time to sell – but it won’t always be a seller’s market.
Roles Of Partners, Equity And Compensation Stand Among The Top Considerations When Mergers Serve As Succession Solution
Reprinted with permission from Inside Public Accounting November 2005
Succession planning is one of the most urgent issues facing accounting firms today. While firms often look for internal solutions to succession, mergers and acquisitions are alternative solutions.
Succession Planning for Tax and Accounting Practices
Originally published in the EAJournal July-August 2005
As tax and accounting professionals, we advise and help our clients plan years before they retire or sell their businesses. Yet so many of us fail to take our own advice and wait too long to start the process of succession planning.
Succession Planning the Future is Now
Reprinted with permission from MACPA March 2005
You have devoted years to building a practice. With proper planning, you can maximize the value of this asset through a sale where everyone wins: the successor firm, your clients, and you.
Succession Planning for Smaller Firms
Originally published in the Sum News by the Massachusetts Society of CPAs Summer 2004
When do I start the process? While we are constantly reminding our clients to plan for their retirement in advance, we frequently delay making our own succession plans. There are several key items that will dictate when to start the transition process.
Hourglass Effect
Originally published in Insight, the magazine of the Illinois CPA Society August 2004
With labor shortages looming, internal succession planning couldn't have come at a better time. Is your practice ready for internal succession?
The Key to Successful Succession Planning
Originally published by TAXPRO Quarterly Journal Spring 2003
As tax professionals, we provide the guidance our clients need to plan for retirement. As in the old story "The Elves and the Shoemaker," it is amazing how often we neglect ourselves and fail to plan appropriately for our largest intangible asset, our practice.
Six Steps to Selling Your Practice
Originally published by TAXPRO Quarterly Journal Spring 2002
You worked long and hard. Finally, it's over. Another tax season is behind you. Like many of your colleagues, you're probably wondering what comes next...the following steps to selling your business should apply to almost all practices and hopefully supply you with more than just a starting point.
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