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Partners Approaching Retirement: Transitioning Their Clients and Setting Their Compensation

By Joel A. Rose

While most firms like to consider clients to be those of the firm and not of any particular attorney within the firm, it is generally acknowledged that specific attorneys are responsible for developing, nurturing and maintaining the firm's relationship with each of its clients. This article describes a common procedure that may act as a guide to transitioning clients during a partner's pre-retirement years.

To continue to maintain the firm's good relationship with these clients upon the retirement of the attorney responsible for their account, certain steps should be taken to allow and assist other attorneys within the firm to develop a direct relationship and have responsibility for managing these clients.

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