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There is nothing worse than meeting with your client and discovering to your surprise they are having discussions, good or bad, with other members of your firm. Such dissonance within the firm can undermine the trust of your clients and compromise your business development and client retention efforts. From a client perspective, these missteps tarnish their experience with your firm. From the firm perspective, instead of working to expand business with these clients, you must now fight to repair the relationship. In today’s time-constrained law firm, however, it is often difficult to track such client engagements, let alone manage or understand them. Fortunately, advances in client relationship management (CRM) software can help connect lawyers across the firm, allowing them to compete as one firm and build on the successful results they have already delivered for clients.
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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.
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.
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.