The structure of partnership is evolving fast. From synthetic equity and phantom equity to modernized buy-in/buyout arrangements, firms across the spectrum — both independent and PE-backed — are rethinking how they attract, retain, and reward the next generation of leaders. In this sharing call, Winding River Consulting's Brian Blaha and David Toth lead a candid conversation with Lee Cohen, LMC and Greg Denning, Larson & Company, who are actively redesigning their capital and governance models, removing barriers to partnership, and building compensation structures that work for today's market — whatever path their firm has chosen.