Topic: Ownership transition

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What’s Next

We’re all trying to figure out what’s next. Whether you’re considering a career move, an investment, or a retirement plan, it’s important to identify alternatives and their potential results – and plan ahead. If you want to make a change – whether it’s heading to the door for a well-deserved retirement or advancing your career…

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Transitioning Your Firm for What’s Next

The AIA Trust organized a panel discussion for the virtual 2021 AIA Conference on Architecture. A panel of architects familiar with the importance of firm transitions shared their expertise about how vital planning for leadership succession is for a successful architecture firm — and what it takes to make that happen on an ongoing basis.…

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Advice to Potential New Principals

So, you have been invited to become a principal in your firm? Congratulations! Now, what can you expect? Are there lessons learned from other design firms that have successfully gone through internal ownership transition? Yes, there are. Cameron MacAllister consulting firm completed a benchmark study a few months ago on how architecture firms are handling…

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Ownership Transition: Developing Future Firm Leadership

A session about Ownership Transition: Developing Future Firm Leadership was presented at A’19, the AIA Conference on Architecture 2019.  The PowerPoint slides address the following learning objectives: Recognize what current owners need to do well in advance to prepare for a successful firm transition in the future. Recognize the challenges and decisions for those who…

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Firm Valuation Service Providers

When considering firm ownership transition–whether internal or external acquisition or a  merger, employee stock ownership plans, equity-based incentive plans, shareholder dispute, tax issues, litigation support, or other corporate planning–you need to determine firm value. When seeking a firm valuation, it’s important to consider companies that can offer you A/E industry experience, as well as professional…

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Making the Transition to Running Your Own Firm

In operating a professional practice as a private business, a licensed design professional faces many risks. A prudent design professional entering private practice should consider insurance to cover certain exposures, including professional liability, cyber liability, commercial general liability, commercial auto coverage, and the risk of property loss. In addition, practitioners should be sure they have…

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Architecture Firm Ownership Transitions

By Ed Hord, FAIA, 2014 Chair, AIA Trust & Ann Casso, Hon. AIA, Executive Director, AIA Trust The slowly improving economy has led to an increasing pace of mergers and acquisitions among architecture firms. In addition, ‘baby boomer’ firm owners now considering retirement also fuel various ownership transitions. Privately owned architecture firms in today’s consolidating,…

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What You Need to Know About Business Continuity Planning

When running a firm, you need a business continuity plan to ensure orderly leadership transition in case one or more key people leave, no matter the reason. Leaders, whether owners or managers, may leave because of retirement, death, a disagreement over strategy, or a job opportunity at another firm. Planning is crucial–and an important part…

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Coping with Inevitable Firm Transitions

Every firm has a life-cycle. Professionals leave firms to practice individually or to join another firm; a firm might dissolve as a business entity or be acquired by or merge with another firm; or, firm owners may retire or be unable to continue providing professional services. These firm transitions require special protection, and they should…

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