Features
Drumming Up Business While Trumpeting Your News
An Integrated Strategy Despite the current uncertainty, though, developing solid plans with accountability, results and measurement can be done. Preparing a comprehensive business development strategy — one that is integrated with public relations — is more critical than ever to avoid being considered pleasant but boring elevator music.
Features
Communicating During the COVID-19 Crisis
The COVID-19 pandemic has likely changed how law firms operate from now on, and it has affected all areas, from client service and IT to business development and attorney recruiting and advancement. One area that has been especially hit hard is the communications function.
Features
Year End Is 90 Days Away, Make Every Day Count.
We are now into the sixth month of the COVID-19 pandemic and law firms across the country are entering the critical last quarter of the year. Historically, law firms collect between 30% and 50% of their annual revenues in the final 90 days of the calendar year. This year will be more challenging than prior years for a number of reasons.
Features
COVID-19 and Benefit Planning
The COVID 19/Pandemic/Shutdown has caused turmoil and upended benefit planning.
Features
Redefining Law Firm Financial Management In An Era of Unprecedented Economic Uncertainty
The pandemic has forced law firms to reevaluate their expenses, refine their budgets, and review their overall operations to adapt to an environment of perpetual uncertainty. To understand their approach, options, and considerations, LSQ engaged Ari Kaplan Advisors to benchmark a range of metrics and perspectives from leaders at an array of organizations.
Features
Law Firm Profitability Expected to Be Stable for 2020 Despite Decreased Revenue
Economists are increasingly gravitating to the concept of a "K-shaped" recovery following the steep plunge of the early days of the coronavirus crisis. With a slight tweak, that "K" may well serve as a useful depiction of law firm profitability in 2020: just add a horizontal third line at the center.
Features
Undercutting the Cost of Underperforming Attorneys
As a firm leader it is your fiscal responsibility to address underperforming attorneys. With COVID-19 are your underperformers flying under the radar? The cost to a firm is not only to the bottom line, but to your reputation as a leader.
Features
Technology Investments for Law Firms Moving Forward Post-COVID
We're never going back the way we were — and this will be to the benefit of firms, profitability, clients and lawyers if we make the right technology investments. Here's some specific ways firms can capture these benefits.
Features
The SECURE and CARES Acts Change Required Minimum Distributions
A key aspect of saving for retirement through qualified retirement plans and IRAs is deferring taxes until required minimum distributions (RMD) begin. Even with Roth IRAs, beneficiaries who inherit them must also follow RMD rules despite the tax-free treatment of the distributions. The SECURE Act and the CARES Act made dramatic changes in RMD rules for 2020 and beyond.
Features
Buying In to the ALSP Market
Some Firms Are Forming Subsidiaries to Deliver Legal Services In New Ways Buyers have a broader slate of options in 2020 than ever before, whether that means handling more work in-house, hiring temporary lawyers during a crunch, or turning to a recently launched "alternative provider" to address the massive pile of contracts they need to manage.
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