taking my client base??

taking my client base??

Didn't find your answer?

I am being forced out of my job because my employer is selling the practice to the first bidder.

There is only me and him and I have brought in quite a few clients since I have been here and I am now looking at setting up on my own but would obviously want to take my client base with me.

How do I go about this??

Can I simply write to the clients and say that I am now acting for them?? If so, is there some sort of template letter that someone can give me.

Alternatively, do I have to give them a choice?? Again, if so, does anyone have a template that I can use.

What are the likely pitfalls??

Anyone else got experience of this particular senario.

Thanks in advance
YAS

Replies (7)

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By IanRiley
24th May 2005 15:51

Your client base ?
Strikes me it's not your client base at all. They are clients of the practice even though you may have had some part to play in introducing them.

If someone else buys the practice, he/she is buying the client base too. Having said that they are all free to go elsewhere if they so wish so if you want to set up on your own and try and convince them you are there best option, good luck.

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By listerramjet
25th May 2005 16:58

legal position
don't think the legal position is clear, which is why you should seek advice. It seems clear that you acted to introduce clients into the business on the understanding that you would get a share of the business at a later date. Thus it may be for example that you can establish that the existing owner is effectively holding your share on trust, or you might be able to argue that you were a salaried partner rather than an employee. - but this probably depends on the exact nature of the agreement, which may be difficult to demonstrate if it was not in writing.

You should also bear in minds the costs of a legal battle. You would be better to establish what might succeed before he sells, so that you are in a stronger position to bargain.

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By AnonymousUser
26th May 2005 16:03

thank you
thanks all for your comments and thoughts - it has helped me to make a couple of decisions

kind regards

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By User deleted
24th May 2005 19:06

Unprofessional/is it worth it?
The client base isnt yours it is your employers.

Assuming you have no clause in your contract of employment preventing you from soliciting your employers clients then you could do so.

However a few thoughts -

1. As a professional person your reputation is paramont - you could very easily damage it.

2. If the clients respected your work, and valued what you did, they will come to you anyway if they are aware of where you are setting up in practice.You only need a few adverts in the right places, and to discretly let people know.

3. Their really are PLENTY of clients to go around once you are in business.

Make a fresh start and set yourself up in practice on your own. You will in the long run then feel you achieved something on your own merits not got it in an underhand way.

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By AnonymousUser
24th May 2005 22:33

i agree....but
i worked hard to get these clients for the practice and he is now doing the dirty on me

we had agreed when i started that although it's his practice, WE would run it and a couple of years down the line it would become a partnership (and the cost would depend on the amount of new clients I had brought in)

since I've been there I have quite comfortably brought in 80% of the new clients (about 70% of the new fees)

maybe you can see now why I feel as if I have been taken for a mug

I do appreciate your point Nicola but i have worked hard to bring these clients in and feel aggrieved that I potentially have nothing to show for it

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By listerramjet
25th May 2005 08:45

other options
sounds like you may have an agreement which has some value. I would suggest that you seek legal advice before taking any actions

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By neileg
25th May 2005 09:35

Two different issues and a suggestion
1. You may have an enforceable contract that will mean your employer/partner will have to compensate you. As Alistair says, you need legal advice on this.

2. These clients do not belong to you or the practice. They are customers and as such are free to choose their accountant. Subject to a restraint clause in your contract, you can let them know you are setting up in practice and see if they will follow you.

3. Assuming you are as valuable to the practice as you set out, you may have a negotiating position with the new owner. He/she may be prepared to do a deal to keep you in place and pay you your worth.

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