Accounting firms that are focused on growing the leadership bench have typically followed a conventional path for partners, which includes, among other requirement, an internal or external candidate who has worked full time in practice, just like every other partner.
However, with the advent of ever-changing technology, hybrid work environments, and a robust and competitive mergers and acquisitions market, CPA firms are finding their options limited when it comes to adding new partners following the conventional parameters. To overcome the industry’s talent shortage, firms need to look for more creative practice-strengthening solutions.
One viable solution is the concept of a fractional partner, which Ira Rosenbloom covered in a recent blog for PICPA's CPA Now.