Thanks, But No Thanks…

September 2000
Journal of Financial Planning;Sep2000, Vol. 13 Issue 9, p23
Academic Journal
This article highlights the attitude of the American Bar Association (ABA) towards partnership with non-lawyers, including accountants and financial planners. In an age of consolidation, mergers and acquisitions, the ABA has once again said thanks, but no thanks to partnering with non-lawyers. Following an ABA commission proposal and bitter debate, the ABA reaffirmed its rule forbidding lawyers from sharing legal fees or forming a partnership with nonlawyers if the activities involve the practice of law. Despite the ABA ban, individual bar associations can still allow partnerships, known as multidisciplinary practices, though few do.


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