Researching 'Leadership in Law firms'

The next few months sees opportunities for Leaders in the Legal Profession to learn more about not only the published – but the unpublished – information about Leadership in Law firms, through a variety of conferences and seminars. The research was undertaken 6 months ago but with continuing amendments and up-dates from and with the contributing Managing Partners.

Each week there are details of yet another firm who has decided to take plan to take advantage of the changes driven by the LSA to incorporate: the question is: is there a common denominator as to why they have chosen this path? Sizes of firm ranges from small with under 5 partners through to some with over 100 staff and 15 + partners; what is most interesting are the reasons given to their staff and salaried partners – their inheritors.

Of course any change to the overall structure of the firm will impact hugely on the career paths and opportunities for all lawyers and through whichever route they are coming (law school/ college or ILEX) and this will then impact on remuneration. Yesterday when a firm with @100 staff and 5 equity partners, the MP was clear performance related profit share was out of the question: ‘we are a partnership and I don’t want to be checking and chasing my fellow partners to work out how to divvy up our portion of the pot’. Other firms are battling to hold onto their great, younger partners who are working hard and see older plateau equity partners taking out more than they put in: and are leaving for more fruitful pastures.

Leadership in Law firms is a book full of the pros and cons for each structure as viewed by your peers in the profession and makes good and easy reading. Buy your copy now at a special Autographed Author’s Discount of £85 per copy – plus £3 p+p to ensure that the decisions you make are based on good information – not some whim or because your competitor is doing it.

Law Society Gazette gives Simon Tupman's new book the Thumbs Up.

Simon Tupman's new book 'Legal Eagles' has been reviewed by the Law Society Gazette's Paul Rogerson, the review is worth reading and Paul does a really good job of spotting what 'Legal Eagles' is trying to do. Namely re-enforce the impression that Lawyers really need to work on their image with their clients.

All to often lawyers are seen as a necessary evil: true whether in the corporate world or on a personal basis. Simon's book concentrates on collecting testimonials from 'visionary' lawyers from around the world, the aim is to say 'look - we're lawyers - but we're human too and we run businesses just like everyone else'.

We at Trafalgar have very much support Simon’s thinking and support lawyers at all stages in their careers to ensure their personal brand (values and behaviours) fit with the firm’s overall brand and market positioning. All too often the ‘necessary evil’ brand gains dominance, when in reality lawyers are supportive and passionate about their clients: we help them bridge that perception gap. We provide a unique service for Partners, CEOs and Directors of law firms and other professional practices, in accord with the ideas that Simon's book bring forward.

3rd Global M&A Symposium

Through Rohit Talwar, CEO, Fast Futures, we have been connected to AM & AA who are holding their 3rd Annual Symposium in London 10th – 12th May. It is designed for key middle market global players from Asia, Central & South America, Europe, the Middle East, and North America to share deal-making insights with delegates and to meet others in the same milleu.

From talking to Mike Nall (Founder) and Diane Niederman (VP Marketing) I think it could be of interest to all our Private Equity, Venture Capitalist and M&A Lawyers as an interesting event – and encourage you to look at the detail below. I understand you can attend certain parts of the events – not least the networking!

I and colleagues will be popping in and out during the 3 days so do let us know if you are going to be coming along and let’s meet up!

Working with Buzzacott Accountants

I ran a seminar with Alistair McQuatar, Partner on the impact different structures in law firms will have on their ability to lead effectively – all linked to ABS. It was very well received with positive feedback from all. With gatecrashers attending it was a great turn out – and a lot of Buzz was generated. Key outcomes are:

• Don't pick a structure just for tax purposes
• Do consider what your clients want, the services you will provide
• Do review how you will deliver those services – outsourcing, better precedents, etc.
• Do consider what people you will need, - and their skills and reward mechanisms and...
• Then look at the structure that will best enable you to do all this!
• Ensure you leave a legacy...

As a result of this combined work – both I and Alastair will be meeting many firms to review their strategy – and support them through which change might be appropriate.