Comments on: “Panic or paranoia” driving some firms to ABS http://www.legalfutures.co.uk/latest-news/panic-paranoia-driving-firms-abs Market intelligence for law firms of the future Thu, 23 May 2013 03:53:28 +0100 hourly 1 http://wordpress.org/?v=3.4.1 By: Solicitor Business Development http://www.legalfutures.co.uk/latest-news/panic-paranoia-driving-firms-abs/comment-page-1#comment-58961 Solicitor Business Development Fri, 29 Jun 2012 10:30:45 +0000 http://www.legalfutures.co.uk/?p=13509#comment-58961 How many mid-sized firms would be in breach of accounting rules were they limited companies I wonder in terms of their drawings relative to the firms' profitabilities? ABS's are indeed a means to an end and not an end in themselves. I have lost count of the number of firms I have spoken to who want to find a merger partner for the sake of it or site 'critical mass as a driver for merging. But not one has a coherent business plan or means of differentiating themselves. Maybe the very root of the issue is the partnership structure itself? Investors seek strong management and strategic leadership. How many managing partners could be described as displaying both? How many mid-sized firms would be in breach of accounting rules were they limited companies I wonder in terms of their drawings relative to the firms’ profitabilities?

ABS’s are indeed a means to an end and not an end in themselves. I have lost count of the number of firms I have spoken to who want to find a merger partner for the sake of it or site ‘critical mass as a driver for merging. But not one has a coherent business plan or means of differentiating themselves.

Maybe the very root of the issue is the partnership structure itself? Investors seek strong management and strategic leadership. How many managing partners could be described as displaying both?

]]>