Personal Risk Management for Partners

Professional Practices Alliance (PPA)

Partners of professional practices spend their entire careers focused on protecting the interests of their clients. This can sometimes be at the expense of their own planning.

We are pleased to share with you the recording from our recent Professional Practices Alliance (PPA) expert discussion, ‘Personal Risk Management for Partners’.

In this podcast recording, you can hear Chair, Corinne Staves (Partner and Head of Professional Practices, Maurice Turnor Gardner LLP) and panel speakers, Rachel O’Donoghue (Partner and Head of Financial Planning, Buzzacott LLP), James Currie (Senior Tax Manager, Buzzacott LLP), David Shufflebotham (Founder, PEPUp.consulting), Fiona Poole (Partner, Maurice Turnor Gardner LLP) and Beth Hale (Partner and General Counsel, CM Murray LLP) explore the actions that all partners should be considering and the extent to which firms should be involved in personal risk management. In particular, this panel address the following:

• the key personal risks for professional partners;
• financial planning and legal protections that partners should put in place;
• the extent to which firms should implement measures to protect partners, for example, death in service and/or life insurance benefits;
• how a firm can manage the risks of partner death/incapacity; and
• how a firm’s agreement and policies can support this process including the protections which should be included in LLP deeds as well as powers to remove and suspend.