Posted by: johnocunningham | August 14, 2013

Best Blogs of July: Transitioning Clients When Lawyers Retire

This is my 11th post in a series of monthly features that I have dubbed “Best of My BlogRoll.” The concept is simple – each month I peruse my own blog roll (see that column on the right) for material created by other bloggers that I think is most worthy of sharing with others, and then I report on it here.

For the month of July, I have chosen to highlight a post by Susan Saltonstall Duncan on her In-Focus blog about “Holding on to Clients When Senior Rainmakers Retire.” This post is particularly poignant now as senior “baby boomers” enter the retirement zone, and their law firms are consequently in danger of losing those clients.

This post also offers a number of good practical suggestions to law firms about insuring that clients are not lost when a senior lawyer is transitioning to retirement. It also identifies many of the problems that law firms have in recognizing the obstacles to a smooth transition. and setting up a process to insure it.

She saliently points out the need for:

  • A policy or consistent approach to retirement of partners;
  • A transition plan geared to each individual client;
  • A client succession team and succession partner in charge of the relationship;
  • A transition process that is at least a few years, and not a few months in the making.

Hats off to Susan for another great post on her In-Focus blog.

 

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