Accounting and Financial Planning for Law Firms

Prospering in the ‘New Normal’

By J. Mark Santiago

Raising Costs and Declining Demand are Sapping Profits The “New Normal” of today is one in which raising operating costs, associate salary increases, and reduced realization rates coupled with AFAs and demands from corporate counsel for reduced rates are sapping firm profits and there is no relief on the horizon. Law firm leaders, seeing current conditions, should be asking if there is a better way.

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