Successful Succession And Exit Strategies

A practical half day workshop for firms of all size

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This half day intensive workshop will equip you with the skills to ensure a smooth and successful transition of your practice from one generation to the next.

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Successful Succession And Exit Strategies

Parramatta
Nov 20th 2018 9:00am
Nov 20th 2018 1:00pm
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Successful Succession And Exit Strategies

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The Program

What Is Your Firm Worth?

Common rules of thumb around law firm valuations are being challenged. Given variances in profitability, areas of law, demographics and cash flow, not all law firms have the same value. We will guide you through the valuation process and how it applies specifically to your firm.

Making Your Firm More Saleable

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There is a subtle difference between value and saleability. Making your practice more attractive to potential purchasers relies heavily on the ease of transferability, or integration, of the practice. We will address the qualitative aspects of legal practice that purchasers and banks look for and what you can do to make them chose your firm over another

What Options Are Open to You?

With an increasingly aging profession, the next three to five years will see a significant transfer of ownership from one generation to the next. The high number of retirements is creating a ‘buyers market’. We will help you realistically assess the options available and develop a robust plan that best suits your needs.

Developing Internal Successors

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In most instances an internal sale is the safest bet. All the traditional views on how to bring in new equity holders have been turned on their head. We will show you how the best solutions are reached.

Options for Equity Transfers

One of the key tactical challenges is to structure the deal so that it is attractive to both parties. There are numerous options available regardless of whether you are a small firm, large firm or incorporated legal practice.

External Purchasers

In addition to large professional aggregators, many firms are looking to boost revenue and profits by consolidating local competitors. We will discuss how to find them and how to present your firm.

WHO SHOULD ATTEND?

Law firm owners and managers who want to explore or implement a robust succession plan.

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Presenters

Sam Coupland

FMRC

Sam’s client facing roles span directconsulting and management training. In anyone year he would be engaged by 50+ firms to assist with strategic planning, partner compensation, equity valuation and succession related issues. With industry experience gained since 1999 and the capacity to draw on the many resources of FMRC, Sam has developed unique insights into the workings of a wide range of firms. Sam is considered the foremost authority on law firm valuations having developed a robust valuation methodology and values more than 20 firms each year. Prior to joining FMRC Sam worked at Ernst & Young for four years followed by a stint in London conducting due diligence on businesses listing on the London Stock Exchange.

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