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I think firms love counsel bc it almost always works out better for the firm than the attorney. My firm announced they are open to discussions about alternative arrangements bc of pandemic. I would think you can raise it anytime with your practice chair or a partner you trust, and annual evaluations is a natural time since that's when the firm is considering promotion anyway.
Practically, I'd be careful not to put yourself on counsel track before you're ready bc I think partners do treat counsel track as less serious than partner track. Try talking with counsel track folks, not partner track lateral counsel to see how those conversations went for them. If you're remotely interested in becoming partner, I'd ask about that before you move tracks, some find it hard to come back...