• Do you have partners that are at or nearing retirement?
• Do you intend to replace those exiting partners from within your firm, and how do you know if you have the right people on board or the bench strength to do that?
• Are you uncertain as to what the next steps are to begin such a transition?
In this webinar, Transition Advisors CEO Terry Putney will address how to:
• Create a process aligned with the firm’s long-term goals
• Build an internal succession team
• Determine the value of the firm when “sold” internally
• Develop a reallocation plan for the partners’ workload
• Identify and develop plan for future leadership
The tools and strategies to help determine if their firm has what it takes to develop and execute an internal succession plan
To help accounting firms assess their readiness to execute a plan to pay for partner retirements and replace retiring partners
Terry has more than 35 years’ experience in the CPA profession. For six years, he served as Managing Director - Mergers & Acquisitions for RSM McGladrey, the country’s fifth-largest accounting firm and held several executive posts with its corporate parent, H&R Block. At RSM, he structured and negotiated numerous deals resulting in the acquisition of accounting and consulting firms ranging in size from sole proprietors to multi-state firms with hundreds of staff and professionals. Prior to joining McGladrey, he served as Managing Partner of Donnelly Meiners Jordan Kline, a 60-person CPA firm in Kansas City. Terry believes it’s imperative that practitioners have a clear understanding of their objectives when pursuing a sale of their practice or the merger with, or acquisition of, another practice. “I've seen deals not work or not materialize because one of the parties to the succession plan had not thought through what they really wanted to accomplish. Transition Advisors will make sure the approach to executing your plan will meet your objectives. Because we are consultants and not brokers, we can be much more flexible in helping a firm succeed with its transition plan.”