PracticePeople In PracticeSmith & Williamson creates LLPs to drive partner investment

Smith & Williamson creates LLPs to drive partner investment

LLPs' tax efficiency should encourage Smith & Williamson partners to buy into the firm

SMITH & WILLIAMSON has revamped its corporate structure to encourage younger partners to invest in the business.

The firm has created two LLPs to sit at the base of its corporate structure. Tax and services are within one LLP, while investment management and banking will sit in the other.

Smith & Williamson chairman Gareth Pearce told Accountancy Age that the structures were more tax-efficient for its partners than awarding shares, and the move should encourage “up-and-coming” partners to take a “meaningful stake” in the business.

There are no concerns for succession planning at the firm, he added.

The launch of the investment management and banking LLP is awaiting FSA approval.

Related Articles

David Cobb, Co-CEO, Smith & Williamson

People In Practice David Cobb, Co-CEO, Smith & Williamson

4m Lucy Skoulding, Reporter
Financial Power List 2018: 36-40 revealed

People In Business Financial Power List 2018: 36-40 revealed

4m Emma Smith, Managing Editor
Kevin Stopps, Co-CEO, Smith & Williamson

People In Practice Kevin Stopps, Co-CEO, Smith & Williamson

4m Lucy Skoulding, Reporter
Smith & Williamson appoints new partner from EY

People In Practice Smith & Williamson appoints new partner from EY

8m Emma Smith, Managing Editor
Top ten firm pinches partner from EY

Administration Top ten firm pinches partner from EY

2y Fraser Simpson, Reporter
First female board member for Smith & Williamson

People In Practice First female board member for Smith & Williamson

3y Beth Abel, Reporter
Nexia International breaks $3bn

Accounting Firms Nexia International breaks $3bn

3y Kevin Reed, Writer
Taking Stock: You don't have to look like Gareth Pearce to work here..

Accounting Firms Taking Stock: You don't have to look like Gareth Pearce to work here..

4y Taking Stock