Succession in the legal profession

Keypoint is pleased to advise that is has been featured in an article on Succession in the October 2016 edition of the NSW Law Society Journal.  

The article identifies the challenges many lawyers face, as they approach retirement, in realising value for the goodwill they have built up during the course of their career: 

  • For partners in firms, many simply hand their clients over to other partners in the firm without any payment for that transfer of value.  
  • For sole practitioners, many find it difficult to sell their practice and will often close it down when they retire. 

Generally, it can be hard for lawyers to achieve an exit strategy or succession plan that rewards their many years of hard work. 

Keypoint has developed an approach which responds to these difficulties, and which offers a solution to the challenges of succession. 

More about the article can be found here.

Keypoint is one of Australia’s leading NewLaw firms.  It has grown to 21 senior lawyers since launching just over 2 years ago, and recently won “Australian Boutique Law Firm of the Year” at the 2016 Australasian Law Awards.

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