News & ArticlesIndustry Updates and Insights from Saltmarsh


Word to the Wise: Know Your Leadership Style

3/23/2017 - By Zachary Farrington

What’s the difference between leadership and management? Perhaps management guru Peter Drucker put it best: “Management is doing things right; leadership is doing the right things.” 

As a business owner and leader, you must not only “do the right things,” but you must also inspire others to do the same. According to Daniel Goldman’s well-known Harvard Business Review article, “Leadership That Gets Results,” a manager’s leadership style is responsible for 30 percent of a company’s profitability.

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Deferred Compensation: How to Mitigate the Risks of an Unfunded Plan

3/23/2017 - By Zachary Farrington

The past can come back to haunt law firms that made promises to provide retired partners with substantial incomes, sometimes for life. Often, these promises of future benefits were made back in the “old days” when firms were smaller, partner incomes were lower and “for life” didn’t mean as long as it does now.

The problem with these deferred compensation arrangements is that they were often made without funding. Earning partners then became burdened by cash flow obligations to retired partners. The resulting impact on future profits can lead to some worrisome consequences, including these:

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Document Retention and Destruction: Understanding the Document Lifecycle

3/23/2017 - By Zachary Farrington

Documents have a distinct lifecycle. They move from being online (production) to near line (easily recoverable) to offline (archived). Knowing what to keep and for how long can be tricky business for law firms.

While it’s important to be able to produce critical documents when they’re needed, maintaining a file longer than necessary can cause trouble. Suppose a client follows standard document retention procedures and disposes of a set of documents. If the law firm retains related documents beyond that retention schedule, those documents then become discoverable in a legal matter. 

The key is to develop document retention and destruction procedures that protect your interests as well as those of your clients.

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Reingruber & Company, P.A. Joins Saltmarsh, Cleaveland & Gund

3/1/2017 - By Zachary Farrington

TAMPA, FLORIDA March 14, 2017 -- Saltmarsh, Cleaveland & Gund is pleased to announce that Reingruber & Company, P.A., of St. Petersburg, Florida and its Nashville, Tennessee-based affiliate have merged with the firm effective March 1, 2017. 

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Heineken and Heppler Earn the Certified Public Accountant (CPA) Designation

2/27/2017 - By Zachary Farrington

Nicole Heineken and Brandon Heppler have recently earned the designation of Certified Public Accountant (CPA). They both passed a four part exam that tested their knowledge in Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation.

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