By Martin Bissett
Passport to Partnership
A big concern in recent years has been how the incoming partners will purchase equity or fund the capital account and exit of a retiring partner.
MORE ON THE PASSPORT TO PARTNERSHIP: It’s Not the Challenge, It’s Your Response | Why Hitting Your Numbers Isn’t Enough | What Do Your True Colors Say About Your Commitment? | How to Build Your Pipeline | 6 Keys to the Perfect Proposal | Communication Can’t Be Overrated | How to Read Your Firm’s Cultural Blueprint | 12 Ways to Determine Your Competence | Passport to Partnership: New Research Shows Wide Gap between Partners and Partners-To-Be
Much has been written that examines the mathematical complexities of this topic but the bottom line is simple. Would-be partners in the age demographic of 28-42 are part of a generation who are already heavily borrowed in the form of credit card debt, mortgage debt and other forms of personal loans.