1
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Speakers
CPD Hours Level
Learn Live 1.5 AdvancedInformation
SRA Competency D

Introduction

Law firms and professional practices are in many respects like any other business.

However, one crucial difference is the need to harness the skills and expertise of notoriously independent professionals for the benefit of all.

This new virtual classroom seminar will focus on how to best harness the skills of the partners with an appropriate and motivational profit-sharing regime and ownership and funding structure.

It will provide you with a solid understanding of the alternative profit-sharing models available, how to separate ownership from profit sharing and how to cater for the challenge of succession.

There will also be an exploration of what your firm may be worth, how best to fund the firm and how the ownership of the firm can best be managed.

If you are involved in the management of a firm or an adviser to such firms, the session will enable you to understand the issues involved and to implement changes that will address motivational, succession and ownership issues.

If you are a prospective partner, it will help you understand the risks and rewards of partnership.

Find out:

  • How can partners be rewarded fairly?
  • How should the firm be owned?
  • How can the firm be best funded?
  • What is my firm worth?
  • What You Will Learn

    This live and interactive session will cover the following:

  • What profit sharing regimes are available
  • How to separate capital ownership from reward for working as a professional
  • Is a performance related profit share appropriate?
  • How to allocate performance related profits
  • How a ‘points system’ works
  • How financially to bring in and retire partners
  • What funding may be available from the banks and other funders
  • How to set a drawings policy
  • Does goodwill exist?
  • How much funding should come from the partners and how much externally?
  • The best way of dealing with the ownership of the firm’s premises
  • The role of self-administered pension arrangements
  • Limited company or LLP?
  • Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.

    Book now

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    Learn Live | 22.09.2022

    N/A | 9:00am - 10:30am


    Profit Sharing, Capital Structures & Funding in Partnerships & LLPs

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    Sep
    22
    2022
     
    9:00am - 10:30am

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    £121.50
    £135
    £270
    Group bookings
    Discounts are available for multiple places. If you have 5 or more people interested in participating in this virtual learning session please email us at group@mblseminars.com for more information.

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