We are delighted to share with you the recording of the recent Professional Practices Alliance webinar, ‘Show me the Money! Shaping a Dynamic and Flexible Profit Sharing System to Smooth the Bumpy Road of Succession‘, in which our expert panel discuss profit sharing systems.
In this webinar, you can hear from guest speaker Jonathan Blair (Womble Bond Dickinson), chair Zulon Begum, (CM Murray LLP), and PPA speakers David Shufflebotham (Pep Up Consulting), and Sarah Chilton (CM Murray LLP) as they discuss the following:
- A refresher on the different types of profit sharing systems used by firms and how to deploy them, focussing on fixed share, variable share, managed lock step, and managed merit systems
- An assessment of the impact that each profit sharing system can have on partner behaviours, specifically assessing the impact that they have on collaboration, apportionment of risk, and investment
- Structuring a firm to motivate, encourage, reward and incentivise partners not only financially but through peer recognition and career progression
- The succession of the partnership, including elegant exits, smooth retirements and the importance of structuring a firm to appeal to the next generation of partners
If you would like to discuss any of the above issues in further detail, please contact Partner, Zulon Begum, who specialises in partnership law for firms and partners.
The Professional Practices Alliance (PPA) is a multi-disciplinary collaboration between leading UK independent legal, accounting and law firm management specialist advisers, CM Murray LLP, Pep Up Consulting and Cambridge Strategy Group. Find out more and subscribe to the PPA blog: www.professionalpracticesalliance.com.