Got an offer from a Big4 to join as MD and this Indpendence stuff is both confusing and concerning. I have multiple LLCs that are primarily investment vehicles - some sole, some with friends. We have a family trust - all of these have holdings in “restricted” entities. How do the Big4 monitor and track this? Is the expectation that all these would liquidate the respective portfolios? If so, how do these firms ever make senior hires?

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