Rob Romanoff

Ed. note: The Aspiring Lateral, a new series from Levenfeld Pearlstein, will analyze a variety of issues surrounding lateral moves, drawing on the firm’s experience in the lateral market as well as the individual experiences of LP attorneys. Today’s post is written by Rob Romanoff, LP’s Managing Partner.

You’re 35-50 years old. You’re a partner at a large law firm, thinking about leaving for something smaller. You’ve been given an offer by a firm that interests you. The firm has a good reputation, steady business, and a solid practice in your area. It consists mostly of partners over 60 and associates younger than you.

Is this a great opportunity, or a career dead-end? Based on the above, it could be either. You’re missing a fact critical to determining whether this — and many other lateral opportunities — is one worth pursing, or one that should be avoided. That fact is this: what is the firm’s succession plan?

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Ed. note: The Aspiring Lateral, a new series from Levenfeld Pearlstein, will analyze a variety of issues surrounding lateral moves, drawing on the firm’s experience in the lateral market as well as the individual experiences of LP attorneys. Today’s post is written by Rob Romanoff, the Managing Partner of Levenfeld Pearlstein.

When it comes to the ultimate departure, you can’t take it with you. When it comes to professional departures, however, it’s a different matter entirely. Whether or not you can take it with you — that is, whether your clients will follow you to a new firm — is a very open question indeed, and a critical one in any lateral candidate’s recruitment.

But how much portable business is enough to catch the eye of suitor firms? How can lateral candidates even determine the amount of their portable business? And how do they actually go about moving it? Let’s consider these questions in turn…

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Ed. note: This is the latest installment of The ATL Interrogatories, brought to you by Lateral Link. This recurring feature will give notable law firm partners an opportunity to share insights and experiences about the legal profession and careers in law, as well as about their firms and themselves.

Rob Romanoff is Managing Partner of Chicago-based Levenfeld Pearlstein, LLC. He is also a partner in the firm’s Trusts & Estates Group. Rob has extensive experience in estate, gift and income tax planning and broad-based wealth transfer planning for high net worth individuals and owners of closely held businesses and their families. Rob is a fellow in the American College of Trust and Estate Counsel (ACTEC).

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