Partner Article

Should I take Equity? –  Experts Offer Solution

Partnership experts from the legal and financial worlds have joined forces to create a bespoke solution to the big question potential partners are asking – should I take equity?

Mark Briegal of leading law firm Aaron & Partners LLP and Charted Accountant Howard Hackney of Howard Hackney LLP and formerly Head of Professional Practices in the North West for a Top Six firm of accountants, both renowned professional practices specialists in their respective fields, have launched a new service offering.

Mark said: “Promotion to partner is a massive step in anyone’s career, but becoming an equity partner may not be the right move for either the individual being offered the partnership, or the business making the offer. That’s where Howard and I come in.

“We’re offering a fixed-price package – encompassing a full audit of past experience, personal and technical attributes, fee earning potential and risk assessment – to flag up any areas of concern and hopefully facilitate the best outcome for both parties.”

The pair have frequently worked closely together on a range of issues for law firms including mergers, partnership disputes, LLP and limited company conversions and constitutional arrangements. They formulated the idea of offering a bespoke package whilst presenting the latest in series of webinars for The Law Society, which aimed to shed light on the potential legal, commercial and financial issues facing both the partnership and the proposed partner entitled “offering and taking equity”.

Howard added: “Equity partnership in all its various forms can be a minefield, and it’s essential that both parties consider all the commercial and personal ramifications before offering or accepting a partnership.

“Financial aspects such as tax retention policies, capital contributions and profit sharing are equally as important as the partnership structure and the relationship with the existing partners, and both require expert advice.

“By combining our expertise we’re able to offer potential partners a complete solution which we think will be beneficial to all involved.”

For more information regarding the bespoke ‘should I take equity?’ packages, please contact Mark Briegal mark.briegal@aaronandpartners.com or Howard Hackney howard.hackney@hshadvice.co.uk.

For more information on Aaron & Partners and its services, please visit www.aaronandpartners.com.

For more information on Howard Hackney and its services, please visit www.howardhackney.co.uk.

This was posted in Bdaily's Members' News section by Elle Brunton .