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The young partners and senior managers get screwed! They can keep making good money but will never make that crazy money! Always paying that cut to PE instead. Now for three years of money getting pumped into advisory and specialty groups to eventually be carved out and flipped. Nothing says a management team is selfish and greedy in PA like a PE deal does. Those guys took what the partners before them passed on to them and cashed out instead of taking that retirement annuity and passing it on like the ones who came before them did.
I’d argue the retirement annuity concept in general will be gone in the next 10-20 years with the last of the grandfathered in P’s. It’s a joke that this is still being sold as a viable benefit to people coming up through the ranks. It’s been gone at DT for 10+ years
Don't know - but having come from an alternative practice structure (before we bought back the firm) this is a big positive for any partner with less than three years to retirement, neutral for 3-6, and a disaster for anyone with a runway over 7 years.
lol. H&R Block says hi.
Enough for them to walk away.
Advisor to both the the Grant Thornton and BDO deals has posted on LinkedIn that he believes more of the top 25 will soon follow suit.
Alex, I’ll take how to bring down an entire industry for $1,000