How Retired Partners Are Robbing their Own Firms

Masked man carrying large money bagIf you don’t set policies and enforce retirement deals, your firm could become a financial hostage.

By Bill Reeb and Dominic Cingoranelli

As many as 30 percent of firms pay more to retiring partners than they initially agreed, according to our succession survey.

MORE ON PERFORMANCE MANAGEMENT for PRO MEMBERS: How Involved Should Retired Owners Be? | Firms Say What Would Change Retirement Pay | Action Plans for Transitioning Partners | How Retirement Issues Affect Succession Planning | How Partner Ratings Factor Into Equity | Develop Your Employees or Suffer the Consequences | What Having Your Employees’ Backs Means | Do CPA Firms Need Management or Leadership? |  Job 1 for The Practice Owner: Client Management

Here’s why.