Finally, succession planning worth planning for.

Introducing a client to a successor partner is an important first step toward keeping the client after a partner retires. But it is only a first step, and should not be confused with a thoughtful strategic transition of the relationship. Clients do not form close working connections with new lawyers based on introductions alone. Building trust takes time, but can be accelerated when the retiring partner brings the client a plan for the thoughtful, incremental transition of the service relationship to successor partners. Over time, the retiring partner gradually recedes from the leadership position into a support role. Curated this way, the client’s new relationship with the successor partners will be on solid footing before the retiring partner leaves practice.

Over his final two years of practice, David planned and executed the transfer of his $6 million book of business to younger partners at his firm, Barnes & Thornburg. While doing so, he developed a step-by-step process for choreographing the transition of client relationships to successors. Now he coaches law firms and retiring partners on how to customize this process to meet their needs and the needs of their clients.

Over 38 years, David built a big practice that he transitioned to younger partners as the final achievement of his career. The marketing strategies and initiatives he used to get there are part of the wealth of information he passes on to lawyers in half-day and day-long training sessions on how to begin and develop lasting client relationships.

David works on a per-project basis. This way, the firms he helps know up front what his services will cost.

Partners in the final years of law practice, often at the height of their careers, are busy people. They understand the importance of succession, but they do not have the time to figure out the specific tasks needed to transition their practices to successors. They want and need help from their firms. When they don’t get it, they assume that succession is not important, and do little to make it happen. When they retire, their clients decamp for other firms. Then the rest of the partnership has to go out and replace the business just to keep profits steady.

Good retirement succession programs provide retiring partners with coaching, guidance and support on the planning and execution of effective client transitions. Firms that have them are far more likely to retain retiring partners’ clients and the revenue opportunities they represent. David helps firms design and implement these programs. Typically, his fees are a fraction of the revenue retained from the successful retention of a single corporate client.