5 Most Common Reasons Why My Firm’s Small-Cap Clients Switch Law Firms (Spoiler Alert: Billing and Service Aren’t on the List)
Prior to my tenure as an institutional investor, I was a large-firm lawyer and in-house counsel. Consequently, I spend a lot of time discussing legal services with my firm’s clients. I increasingly see small-cap companies changing law firms, and the reasons for them leaving those mid- and large-sized firms actually has nothing to do with billing rates or service/responsiveness.
My takeaway from hearing the repetitive concerns of CEOs, and also speaking to many attorneys, is that there is a pretty substantive disconnect in the marketplace. Put differently, many of the partners with whom I speak (and the associates who support them) don’t have an accurate rendering of why their clients leave for other firms. The goal of the webinar is to speak frankly to partners and associates from mid- and large-sized firms about what I hear from my firm’s clients so that law firms can both retain and garner more small-cap corporate work.