Tag: Retirement for Lawyers

How to Do Succession Planning in Large Law Firms (Ep. 59)

How to Do Succession Planning in Large Law Firms (Ep. 59)

Are you a law firm owner pondering the future of your practice? Succession planning might be the key to securing the longevity and happiness of both you and your firm. In the latest episode of “The Lawyer Millionaire Podcast,” hosts Darren Wurz and David Ernst unravel the complexities of succession planning, offering you the wisdom and strategies needed to seamlessly transition leadership within your firm

David underscores the importance of transparent communication and the necessity of setting specific dates and goals for planning. He shares his personal journey, detailing the proactive measures he took to ensure a smooth transition for his successors, and provides invaluable advice on how to make succession planning a gratifying endeavor.

David discusses:

  • The significance of picking a specific date to start succession planning.
  • How to set clear goals for the succession planning process.
  • How transparent and open communication can eliminate the common pitfalls in succession planning.
  • Why senior lawyers should be compensated for planning and transferring their duties to successors.
  • The satisfaction that succession planning brings not only to senior lawyers but also to the rising stars within the firm.
  • How robust financial planning can empower your retirement and succession strategies to provide peace of mind.

 


Resources:

 

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About our guest:

David Ernst retired from law practice last fall after 37 years as a litigation attorney focusing on food safety. Dave worked at two firms over the course of his career, joining Davis Wright in 2011. Throughout his career, Dave served in many firm leadership and management roles.

This included office managing attorney, firm president (175 lawyer firm), the compensation committees of two firms, and the firmwide succession planning partner at Davis Wright. Dave has a particular interest and expertise in succession planning for lawyers and law firms.

He has worked with many lawyers over the years to develop thoughtful succession plans which ensure the continuation of client relationships and the development of younger lawyers.

What It Looks Like to Help Attorneys to Achieve Financial Independence (Ep.2)

What It Looks Like to Help Attorneys to Achieve Financial Independence (Ep.2)

When you hear the words client experience, what do you think of? 

In this episode, we spend more time getting to know the host, Darren Wurz, MSFP, CFP®. He discusses what client experience means to him and his team at Wurz Financial Services, and shares the process he uses to help his clients plan for retirement. 

Darren discusses:

  • What it is like to be a client at Wurz Financial Services
  • Common questions clients have when it comes to retirement planning
  • The three step process to creating a financial plan
  • The importance of investing in powerful software for financial planning
  • How a client’s account is managed in his office
  • And more

Resources:

Connect with Wurz Financial Services:

Meet Your Host, Darren Wurz, MSFP, CFP® (Ep.1)

Meet Your Host, Darren Wurz, MSFP, CFP® (Ep.1)

The highly anticipated podcast, named after the book “The Lawyer Millionaire”, has officially launched! 

In this inaugural episode, get to know your host, Darren Wurz, MSFP, CFP®. He highlights what led to the start of his business and what made him so passionate about creating successful financial plans for professionals working in law firms. Along with some insight into what’s to come on his show.

 Darren discusses:

  • How Wurz Financial Services was created – this includes following in his dad’s footsteps of being a financial advisor in the family business
  • How the majority of his clients turned out to be attorneys and how that reshaped his business entirely
  • The importance of investing time into understanding your clients’ needs and not treating every client with the same advice
  • How “The Lawyer Millionaire” is an extension of his business
  • And more

Resources:

Connect with Darren Wurz and Wurz Financial Services: