How to Bring In New Partners
Succession planning has hit CPA firms with a vengeance. As Baby Boomer partners approach retirement age, they naturally are focusing on who can take their place and eventually write their retirement checks. This monograph answers the questions
- What are Best Practices in bringing in new partners?
- How is the buy-in structured?
- How does all this work?
Chapter titles include:
- What is a partner these days?
- How do firms develop staff into partner?
- When are they ready?
- What should their buy-in be?
- What should their ownership pct be?
- How does capital get determined?
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- Should we have non-equity partners?
- What does one get for the buy-in?
- How do new partners get compensated?
- 22 main provisions of a partner buyout plan
- How should voting work?
- What about non-solicitation agreements?
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How to Negotiate a CPA Firm Merger
Thousands of firms are seeking the only exit strategy available to them – merge into another firm. And most firms over $5M have a voracious appetite to merge in smaller firms. But most partners have never negotiated a merger before. Marc Rosenberg has consulted with firms on mergers for over 20 years. This 55-page monograph answers the questions.
- How do you get started?
- What can one do before the merger to make sure it’s successful?
- What actually needs to be negotiated?
Topics include:
- The steps in the process
- Keys to a successful merger
- What data should you review?
- Questions the "smaller" firm must ask
- Questions the "larger" firm must ask
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- How to assess the cultural fit
- 34 critical questions to ask
- Nuances and idiosyncrasies
- Deal-breakers and non-negotiables
- Key systems that must be agreed to
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How to Operate a Compensation Committee
CPA firms are increasingly realizing that the old compensation formulas no longer work, that performance “intangibles” need to be recognized, and that their compensation system needs to be performance-based. This is leading to the adoption of more and more compensation committees by firms across the United States. This monograph answers the questions
- What are Compensation Committees?
- How do they work?
- Why have they become so popular?
Topics include:
- Characteristics of a good system
- The link to strategic planning
- Communication is key
- The role of the firm’s Core Values
- Make-up of the committee
- Performance criteria for partners
- Decisions that the CC needs to make
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- Structuring partner compensation
- Data reviewed by the CC
- The role of partner evaluations
- Partner goal setting
- Examples of Partner Roles
- Should the system be open or closed?
- Compensation Committee Timetable
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What Really Makes CPA Firms Profitable
This monograph summarizes dozens of high-impact techniques to maximize firm profitability. Based on Marc Rosenberg’s experiences with over 600 CPA firms across the country, this monograph focuses on the most effective techniques and practices.
Chapter titles include:
- The Essence of CPA Firm Profitability
- CPA Firm Benchmarking
- Strong Management and Leadership: The Most Reliable Path to Profitability
- 25 Best Practices that Move Firms From Good to Great
- Partner Relations: Happy Partners are Productive Partners
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- Accountability and Acting Like a Partner
- Marketing and the Bottom Line
- Other Ways to Improve Profitability
- What Doesn’t Seem to Be Important to Firm Profitability
- 40 Great Ways to Improve CPA Firm Profitability
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This monograph includes benchmarks from the Rosenberg MAP Survey to rate your firm’s profitability.
Guide to Planning the Firm Retreat
The complete guide for planning a successful management retreat. Marc has facilitated 10-15 retreats a year for over 20 years. This monograph walks you through his proprietary process of planning, selecting agenda topics & running the meeting itself, all geared to enable the firm to take action on retreat ideas.
Topics include:
- reasons for convening a retreat
- how a retreat differs from a partner meeting
- alternative formats
- potential agenda topics
- ground rules for participants
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- logistical issues
- retreat facilitators and speakers
- suggestions for ensuring implementation
of ideas
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Effective Partner Relations and Communication
Jointly written by Marc Rosenberg and Dr. Ellen Rosenberg, an experienced clinical psychologist with more than 20 years of experience in private practice. They have worked together on CPA firm projects involving partner relations issues, and their experiences are chronicled in this monograph.
Topics include:
- A look into the causes of difficulties among partners
- Partner collegiality vs. accountability: why we can have both
- Picking your partner right to begin with
- Why conflict is good and how to resolve conflict
- What partners should talk to each other about
- Partner relations issues common to men
- Partner relations issues common to women
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- What groundwork should be laid in the beginning of partner relationships
- Communication: What it means, why it’s important and how to be good at it
- When it is best for partners to stay together and when it is best to part
- How to have effective partner meetings
- Health and psychological issues
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