HOW MUCH IS PARTNER GOODWILL WORTH?

Most firms have been avoiding discussing their eventual "retirement from the firm" departure with senior partners sufficiently in advance to achieve smooth, non-threatening and client-retaining transitions. Admittedly, it is sensitive and uncomfortable. It's also a challenge firms will face more frequently as Baby Boomers age and need to confront a change in status.

Don't neglect this crucial management responsibility until panic and resentment set in and till you risk the exit of talented younger partners eager to move into more authoritative roles.

There is a better way. Firms have looked to Practice Development Counsel's *Next Generation, Next Destination* services to help remove the burden from their shoulders. We deal with the relevant and emotional issues as neutral parties who bring the required expertise with no vested interests. We partner with you to develop a management process for transitioning, and we provide a customized framework of workshops and individual coaching.

How much is partner goodwill worth? It's a risk management calculation firm leaders ought to make.