More Law Firms Are Paving the Path to Partner, But What Happens Once One Gets There Is Less Than Certain
In some ways, the country’s most recently promoted partners are more prepared than ever to take on their new roles. But the change still comes with its surprises.
A rundown of the top items lawyers should have on their financial checklists, based on their career stage.
Joel A. Rose
Strong Hands-on Leadership is Crucial in Today’s Competitive Practice Environment
A financially and professionally successful law firm does not simply evolve. It must be built in an orderly and systematic manner. The values important to a firm have to be identified, defined, organized and centrally placed. The responsibility for achieving these goals must be keyed to an organizational factor. Whether this is a committee or an individual, ultimately someone must be responsible.
Lawrence L. Bell
The Tax Cuts and Jobs Act made significant changes to certain Internal Revenue Code provisions dealing with highly compensated employees. Among these are restrictions (in the form of excise taxes) on compensation of certain highly paid employees of “applicable tax-exempt organizations.”
Here are some common retirement planning pitfalls that lawyers often experience.
If you listen to the marketplace, you will know what to do in connection with client growth and client retention. Are firms listening to this advice?
A lawyer can utilize the platform of media outlets to share insights that will develop business by attracting the attention of potential clients and referral sources.
Despite all the strategic planning CMOs may devote to individual attorney coaching and training, it is often not enough to support the lawyer client in connecting the dots of relationship building, reputation enhancing and contact management over the course of a career to make a remarkable difference.
While 401(k) cashout leakage may not stink in our streets, its economic effects are deplorable. Each year, this slow-motion train wreck robs millions of Americans of their retirement security and converts their retirement savings into wasted consumption and avoidable tax penalties.
Gina Passarella Cipriani
With an Eye on Efficiency, Firms Are Ditching Old Methods for a More Corporate Form of Governance
A growing number of firms in the United States and the United Kingdom are eschewing historical partnership norms in favor of more centralized management, and with that comes fewer and fewer partnership votes.
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