Sample Partner Policy Statement

The goal for the selection and admission of partners is to promote to partnership only those people who are expected to perform at a level equal to or higher than the Firm’s present effective partners. A partnership is in part a reward for past services, but it is primarily an indication of confidence in the future performance as a partner.

This policy statement is designed to accomplish the following objectives:

• Give assurance to potential employees that they have adequate opportunity to become partners;
• Retain personnel the Firm needs to maintain its expected growth rate;
• Assure staff that they will have the opportunity to qualify as partner and what the requirements are;
• Maintain a proper ratio of partners to clients and staff;
• Replace retiring partners;
• Encourage partners to withdraw from the partnership whose goals are no longer compatible with the firm.

Standards for Partnership Admission

• Practice Composition – client base consistent with firm strategy
• Personal Attributes – appropriate skills, attitude and ability
• Economic Considerations – new sales, retention, profitability of practice
• Marketing Orientation – able to demonstrate business development success
• Client Management – maintains low attrition and high client satisfaction
• Safety – prudent client acceptance, and reviews approach with others