As partners and firm leaders from the baby boomer generation have begun to reach retirement age, legal consultants said succession planning has become a subject of increasing concern at small law firms, and is a topic they encourage those firms to prioritize.
Consultants said small firms have employed a number of different approaches when it comes to preparing for the retirement of senior partners and firm leaders. Lori Carpenter of Carpenter Legal Search in Pittsburgh said she hasn’t noticed a particular trend in how firms prepare for these changes, but an overall increase in awareness.
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