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We constantly hear from clients that they want us to know their business and anticipate their needs, to help them to see around corners. We hear about the ongoing cost pressures clients face, which force in-house counsel to do more with less, and the pressures on outside counsel to provide greater efficiencies and cost predictability. We also hear that clients hate to be cross-sold. However, this does not mean that clients are not interested to be introduced to new colleagues who can provide insight. Rather, cross selling must be thoughtful and tailored to clients’ needs — a concept many of you will recognize from Heidi Gardner’s work and the success to be gained from Smart Collaboration strategies.
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Undercutting the Cost of Underperforming Attorneys
By Sharon Meit Abrahams
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.
Technology Investments for Law Firms Moving Forward Post-COVID
By Christopher Zegers
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.
The SECURE and CARES Acts Change Required Minimum Distributions
By Sidney Kess
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.
By Dan Packel
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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