Financial and Economic Improvement Plans
Earnings Improvement Programs
We work with firms to identify earnings improvement opportunities and identify best practices and policies. Our deep experience across our varied client base gives us in-depth knowledge of what tactics most effectively bolster partner profits - and just as importantly what has been tried in the past by other firms with unforeseen and undesirable consequences.
Financial Benchmarking
By relying on both public and private sources, as well as the Hoffman Alvary Survey on Law Firm Economics, we work with many firms of all sizes on a variety of financial benchmarking engagements. These projects often start with meetings with firm management but frequently result in a presentation to the full partnership on identified earnings improvement opportunities.
Management Reporting
In many firms, the management reporting systems have not kept pace with the ever increasing sophistication of the practice. Traditional reporting focused on individual lawyers' performance and contributions. More sophisticated reporting today focuses on the client base and group performance. We have helped design or modify management reporting in dozens of firms to help ensure that key managers have the information they need to optimize practice economics and positioning without overwhelming practitioners with too much detail.