Even if you’re not in the market to sell your law firm, there are several reasons to value your firm such as a possible firm merger, securing loan financing, the addition of new partners, and other business and personal matters such as your succession/exit strategy.
Nate Dinger is the Senior Vice President of Commercial Banking at Signature Bank – he helps small, mid sized businesses, and law firms in Chicago manage their finances. Often times lawyers don’t have any time to take care of their own firm’s financial concerns so Nate, along with Signature Bank, helps them through financial advise, management and even through giving out loans for cases – which is uncommon since banks usually see court cases as high risk situations.
Steve Mesirow is the Senior Managing Director in Mesirow Wealth Management and he has been providing expert investment advice and financial planning strategies to his clients for over 25 years. In this episode, Steve talks about how law businesses are at a disadvantage because they register their taxes at the highest rates. He discussed all the ways in which lawyers can build and protect their wealth in a tax-advantaged way.