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Accountancy Firms Succession Planning

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You’ve spent years building up a successful practice, and now it’s nearing the time you, or one of your partners, will take a step back. There are many issues to consider to ensure the firm is valued in a fair and equitable manner.  

 

Questions that may be on your mind:
  • How do we value our practice?
  • Is it affordable for a new partner?
  • Can we afford to pay out a retiring partner?
  • Should we use a restraint arrangement?
  • Should there be "claw back" clauses for lost clients?
  • What should we build into our partnership or director's agreement?
  • Can we eliminate goodwill?
  • What is a lock-step entry agreement?
  • Should we share profits equally?

 

What we do:
  • Firm valuation scenarios
  • Affordability assessment
  • Preparing "offer documents"
  • Review previous succession plans
  • Design partnership agreements
  • Facilitated succession negotiations