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Managing Partners Forum

All UK firms were represented by their managing partners and the day started with a review of each firm by the respective partner. This surprisingly took us through to lunchtime, with many firms having a lot to say – there’s obviously plenty going on in some of our member practices as the moment.

Beyond that, we discussed in detail the roles of a manager in the firms and how members can help each other by sharing experiences to improve and develop management skills.

The recent EAM in Luxembourg was discussed with all member firms showing concern about the high level of costs. It was felt that to send two delegates without spouses would cost between £3,000 and £4,000, even with the low cost of travel to European cities. Whilst everybody recognised the value of interaction at this event it was felt to be more expensive than it needed to be, particularly compared to the price for a UK conference delegate of £325.

We discussed the desire of members to see if a group medical insurance scheme could be set up and I will be pursuing this. I noted we had been offered an association discount by CCH for firms wishing to take on more of their services than they already do. Whilst this is still being finalised I wanted to make all members aware so that if they are thinking of buying any CCH products they speak to me first to ensure they get the appropriate discount.

With regard to the inter-firm comparisons that will be prepared in the autumn, member firms asked if there were any additional questions they would like added to expand the information we gather. It was highlighted that earnings before EBITDA would be a useful additional piece of information to see how firms are performing compared to each other.

Paul Winder