Navigating the ever-changing and turbulent waters of the Big Four is a challenge—one that demands more than just a generic roadmap.
If you are not familiar with Allen Stevenson Advisors (ASA), we are a global search firm with decades of experience placing Tax Partners, groups, and practices. In the Big Four accounting firms, mandatory retirement is fraught with issues. But you probably already know that. What you may not know is how complex and nuanced these transitions have become. While governments, agencies and the courts are gradually eroding the use of non-complete clauses, resolving that is still a ways off. The incentives offered to ensure the smooth transfer of clients to junior partners prior to a partner retiring is standard procedure. However, while lucrative pensions certainly have value, they often come with their own set of challenges. One of these is attempting to transition from the Big Four to other consulting environments without a portable book of business. The reality is stark: without the right strategy, even the most seasoned partners can find the transition more challenging than anticipated. This is where ASA steps in. We have seen firsthand how high-profile departures are handled behind closed doors, with firms often cloaking the details of agreements reached between exiting partners and General Counsel.
For young partners, the choice of which clients to grow a practice around is critical. The largest clients often have deep ties to the firm, with cross-sold services that make migrating to another firm difficult. These relationships have immense value to the current firm and are not easily ported. The more successful practice is developing clients more loyal to the individual partner than the firm. This principle, common in law firms, is something to consider when mapping out a career path.
At ASA we are not about offering generic advice. Our approach is tailored to the individual, taking into account the unique circumstances and aspirations of each partner we work with. We address the portability issue as frequently as we establish a new partner relationship. We would be happy to discuss your personal situation and different strategies which could best support and align with your long-term career goals.
If you are not familiar with Allen Stevenson Advisors (ASA), we are a global search firm with decades of experience placing Tax Partners, groups, and practices. In the Big Four accounting firms, mandatory retirement is fraught with issues. But you probably already know that. What you may not know is how complex and nuanced these transitions have become. While governments, agencies and the courts are gradually eroding the use of non-complete clauses, resolving that is still a ways off. The incentives offered to ensure the smooth transfer of clients to junior partners prior to a partner retiring is standard procedure. However, while lucrative pensions certainly have value, they often come with their own set of challenges. One of these is attempting to transition from the Big Four to other consulting environments without a portable book of business. The reality is stark: without the right strategy, even the most seasoned partners can find the transition more challenging than anticipated. This is where ASA steps in. We have seen firsthand how high-profile departures are handled behind closed doors, with firms often cloaking the details of agreements reached between exiting partners and General Counsel.
For young partners, the choice of which clients to grow a practice around is critical. The largest clients often have deep ties to the firm, with cross-sold services that make migrating to another firm difficult. These relationships have immense value to the current firm and are not easily ported. The more successful practice is developing clients more loyal to the individual partner than the firm. This principle, common in law firms, is something to consider when mapping out a career path.
At ASA we are not about offering generic advice. Our approach is tailored to the individual, taking into account the unique circumstances and aspirations of each partner we work with. We address the portability issue as frequently as we establish a new partner relationship. We would be happy to discuss your personal situation and different strategies which could best support and align with your long-term career goals.
