The Relationship Partner: Planning For A Smooth Transition

Begin the process years ahead of time and don’t treat it as a simple administrative task, say this article’s co-authors, who come from opposite sides of the table. The act of preparing a succession plan should be considered an opportunity for the law firm to deepen its relationship with the client, to solidify a mutually beneficial partnership and “to open a discussion with the client about their needs: their key drivers, what they’re looking for in a new relationship partner, the importance of diversity,” the authors write. At the law firm highlighted in this article, relationship partners are required to begin formal succession planning for clients once they reach age 55.