Succession and Transition

Effectively Transitioning Clients

CPA firms across the country are preparing for the retirement of thousands of talented Baby Boomer CPAs. Many elements of succession need attention, but one of the most important areas to manage is effective client transition. In addition, all client service professionals, no matter their age, should ensure that their clients have multiple contacts and relationships within the firm. When you operate this way, you overcome objections and client transition becomes a regular and normal occurrence for team members and clients both! The learning objectives for this course are to:

• Identify the "best" time to start transitioning and recognize that it might be when you’re selling the engagement
• List the five steps involved in effectively transitioning a client to a new owner
• Recognize how to identify and develop the appropriate successor for each client
• Identify methods and timing for client discussions to ensure their buy-in to your plans

The future sustainability of your firm depends on your successful client transition. Leave this session armed with the information you need to plan and execute your firm's client transitions effectively.

Effectively Transitioning Responsibility from One Generation to Another

Organizations across the country are preparing for (or are already facilitating) the retirement of thousands of talented Baby Boomer CPAs. Many elements of succession need attention, but one of the most important areas to address is effective transition of responsibility. Transition affects far more than the retiree - because of their transition creates a ripple effect that causes all others in the organization to shed responsibility to. Transition will be an ongoing process for you as you develop as a leader and move your responsibilities to others so you can take on new ones. In this session, we will discuss answers to the most common transition questions those engaged in transition ask:

• When should we start transitioning?
• What mindset do I need to have to either let go or step up?
• How should we approach transition?
• How do we choose the people that we transition to?
• When and how do we tell staff, clients, and/or other external stakeholders?

Your ability to grow depends on your ability to successfully transition. Leave this session armed with the information you need to plan and execute your transitions effectively.

Effectively Transitioning Responsibility from One Generation to Another

Organizations across the country are preparing for (or are already facilitating) the retirement of thousands of talented Baby Boomer CPAs. Many elements of succession need attention, but one of the most important areas to address is effective transition of responsibility. Transition affects far more than the retiree – because their transition creates a ripple effect that causes all others in the organization to shed responsibility to. Transition will be an ongoing process for you as you develop as a leader and move your responsibilities to others so you can take on new ones. Attend this session to discuss answers to the most common transition questions those engaged in transition ask:

• When should we start transitioning?
• What mindset do I need to have to either let go or step up?
• How should we approach transition?
• How do we choose the people that we transition to?
• When and how do we tell staff, clients and/or other external stakeholders?

Your ability to grow depends on your ability to successfully transition. Leave this session armed with the information you need to plan and execute your transitions effectively.

Firm Governance, Buy-Ins, Buy-Outs, and Your Partner Agreement

How do your firm’s key decisions get made? How many partners must agree to move strategic issues forward? How will your practice be valued upon retirement? Is it the same for when a new partner buys in?

These often misunderstood aspects of a partnership become critical and sometimes divisive when firm changes cause you to apply them. In this session, we’ll explore things to consider when creating or updating your partner agreement and determining the governance of your firm where you will:

• Identify the roles, responsibilities, and decision-making authority of the partners
• Recall ways for determining buy/sell and retirement values
• Understand the essential elements that should be included in all partner agreements

Leave this session with the key elements to include in your buy/sell and governance agreements to incent and reward the right partner behaviors for the firm.

Helping Your Clients Retire with Grace: Understanding the Psychology of Letting Go

For many, it can be very difficult to give up their life’s work and transition into retirement. This session is designed to help you guide those nearing retirement to develop an all-new possibility for life after retirement. We’ll explore:

• Overcoming the psychological barriers involved in retirement
• Developing new roles that leverage retirees’ wisdom and abilities
• Identifying up-and-comers and the skills, experience, and behaviors expected for replacement
• Creating and managing an operational transition plan

Retirement can be a fantastic new phase of life when planned for and embraced. Join us for this session to see how you can help your clients experience the positives of this important life transition!

Letting Go with Grace - Leaving the Legacy You Intend

For many, it can be extraordinarily difficult to give up your life’s work and transition into retirement. This session is designed to help those retiring, and those supporting retirees, in developing an all-new possibility for life after retirement. In this session we will::

• Explore ideas for overcoming the psychological barriers involved in retirement
• Understand new roles that leverage retirees’ wisdom and abilities
• Learn ways to transfer skills, experience, and expected behaviors to your future leaders
• Recognize methods for creating and managing an operational transition plan

The retirement of a leader can be a fantastic new phase of life – for the retiree and the firm. Join us for this session to see how!

Make Succession a Strategic Process (1-day workshop)

Whether you or someone in your firm is nearing retirement age, being promoted, considering a sabbatical, or just concerned about the fact that you’re carrying too much responsibility for your firm, the issue of succession planning is probably weighing on your mind. Worse yet, the topic may feel overwhelming to address. We think you may be putting off your succession planning unnecessarily – it’s easier to get started than you think. Attend this session to gain strategies for hurdles that prevent most firms from success planning, including:

• Overcoming the psychological barriers involved in retirement
• Creating and managing an operational transition plan
• Identifying successors for the retiree’s clients, referral sources, and internal assignments
• Establishing knowledge transfer and mentoring relationships that work
• Developing new roles that leverage retirees’ wisdom and abilities
• Aiding the retiree in creating a powerful possibility for their future
• Managing setbacks as they occur

Leave this session with clear actions you can take to make succession a strategic and ongoing process in your firm!

Making the Transition from Manager to Partner, from Employee to Owner

Running an accounting firm can be a wonderfully creative, lucrative entrepreneurial effort that also drives high job satisfaction. But making the transition from staff member to firm leader can be challenging, and there are no two paths that are exactly alike. Added to that, most firms haven’t yet developed a clear path to partner for the next generation to follow. Explore your personal partnership path where we will:

• Review typical path-to-partner attributes and assess yourself
• Identify ways you can distinguish yourself inside your firm
• Develop methods for investing in up-and-comers and building a base of supportive future leaders
• Understand how your thinking and mindset will need to shift from that of a staff member to that of an owner
• List very specific next steps you can take to lead at a higher level and encourage growth from those around you

Leave this session with new leadership behaviors and specific actions you can put in place to elevate yourself and your contribution to your firm.

Mentoring Your NextGen Leaders

Building a team of NextGen leaders is a challenge most organizations face today. NextGen leaders are clearly different from current leaders, including their use of technology, collaborative approach to projects, and their feedback expectations and communication approaches. Motivating and supporting NextGen leaders requires a shift in our approach to mentoring and developing them. Attend this session to explore the changes we can expect from our NextGen leaders and strategies and approaches to be effective mentors for them, including:

• Understanding the differences and expectations of your NextGen leaders
• Developing rapport with your NextGen leaders and really “knowing” them
• Building a collaborative environment where your NextGen leaders can be involved in planning, decision-making and executing deliverables
• Understanding the role of reverse mentoring and making feedback a two-way street
• Being an advocate as well as a mentor so your NextGen leaders are represented and have visibility with current leadership

Leave this session with an approach and at least one action you can take to develop a pipeline of bright NextGen leaders!