More than three-quarters of those responding to our law firm leaders survey said their most pressing business concern was recruiting staff, with over a third having difficulties retaining staff.

Firms can no longer expect clients to stay long term, and so should be ready to transfer clients out and onboard new ones continually. Simultaneously, the war for talent is hotting up.

Many of the financial planning firms we work with have assisted the COLPs of the firms they work with to look at what is important in a selected partner.

Given the economic issues with the old staff-up or send-out approach, in-house legal leaders operating in a new cost-controlled environment must find alternative solutions.

In September, the Californian State Legislature blocked alternative business structures, retaining the prohibition of non-lawyers ownership of law firms in America’s largest state.