Also: Firms rethink retirement age.
By Allan Koltin
The Rosenberg Survey
The issue of capitalization has definitely come to the forefront. With all of the changes taking place in the profession, trends ranging from technology (artificial intelligence) to new products and services, it is apparent that firms will need to make significant investments if they want to remain competitive.
This dynamic brings in new issues of overall firm profitability, as well as the potential compression of current partner earnings. It is a classic case of the investment in innovation vs. the wants and needs of partners in terms of compensation.