Growth / Other Resources
A great Leadership Conference. The MPIEs always excel.
I look forward to this Conference every year. It really helps me to be a more effective firm leader.
A very organized and well-run conference. Great food. Great hospitality.
Thank you for allowing me to participate. Your team is masterful at making all feel valued at your event and I dare say helping attendees see the value in attending.
Thank you for the invite to speak on the Managing Partner panel. Even though I have now attended 7 MPFs, I always bring back substantive and helpful information for my partners.
Hands down the best leadership conference for managing partners I've ever attended.
I highly recommend the MPF Leadership Conference. I've participated many times, as have several of my partners. We leave with new ideas and fresh perspectives every time.
I thoroughly enjoyed participating in this year's Conference. Thank you for your enthusiasm and leadership.
Thank you for what you do for our industry. I go to a lot of conferences, and your event is the one I look forward to and gain the most from each year.
Thank you for putting on another outstanding MPF Conference. I came away, once again, feeling reassured and encouraged.
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On occasion, we kick off the MPF Leadership Conference with a keynote presentation to set the stage for the Conference. In 2018, we invited Patrick Fuller to present an overview of the legal industry based on data collected by ALM Intelligence. It’s a tough market place out there, full of change and volatility. Here are a few highlights:
- Sluggish Revenue Growth for BigLaw
Since 2008, revenue for the AmLaw 200 firms has hovered at a sluggish two percent (2%) growth rate per year. Compare that to 2000-2008, when revenue growth for BigLaw averaged more than ten percent (10%) per year.
- Effective Hourly Rate Increases Slowing Down as Well
Since 2008, effective hourly rate increases achieved by the AmLaw 200 firms has also slowed significantly with the ACC Value Challenge, Alternative Service Providers (ASPs) and the Corporate Legal Operations Consortium (CLOC.org) largely responsible.
- BigLaw Experiencing Declines in Financial Performance
In fact, nine out of ten (91%) AmLaw 200 firms report a decline in at least one key performance metric over the last three years, including sixty-one percent (61%) reporting declines in total revenue, eighty-three percent (83%) reporting declines in revenue per lawyer (RPL) and eighty-five percent (85%) reporting declines in profit per lawyer (PPL).
- Corporate American Bringing More of its Legal Work In-House
Before the downturn, sixty-nine percent (69%) of the legal spend by the Fortune 500 in-house legal departments was performed by outside counsel. In 2017, that percentage shrunk to sixty-one percent (61%), with the trend projected to continue.
- BigLaw Expanding Aggressively into Major US Markets
AmLaw 200 firms are expanding aggressively into big legal markets like Atlanta, Dallas, Denver, Houston, Miami and Salt Lake City primarily through acquisitions of smaller and mid-size firms. Analysis suggests mixed results. Interestingly, none of the managing partners at this year’s MPF Leadership Conference want their firms to be acquired.
At MPF, we believe that these and other long-term trends present exciting opportunities for well-run smaller and mid-size firms with focused plans and effective leadership.
- Sluggish Revenue Growth for BigLaw
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Founded in 1971, the Association of Legal Administrators (ALA) has grown to more than 10,000 members in 30 countries. If your firm is looking for a new administrator, its Career Center has a number of articles and resources that will be helpful to you, including:
– Evaluating Your Firm’s Needs
– The Candidate Search Process
– Defining the Role of the Firm Administrator
– How to Succeed When Hiring for the First Time
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Even today, 60% of mid-size commercial law firms do not have a written strategic plan. Among those that do, 90% report that it has led to improved firm profitability and performance. Why, then, do most firms still not have a firm-wide plan? The reasons vary…but it’s not really that hard if you go about it in a thoughtful, systematic way.
MPF CEO John Remsen, Jr. led a Web seminar presented by the ABA’s Law Practice Management Section in September 2011. Panelists included MPF Advisory Board member, Vince Valenza, Managing Principal McNamee Lochner in Albany, New York, and Bob Young, Managing Partner of English Lucas in Bowling Green, Kentucky. Allison Shields was the moderator.
This is a timely and helpful program if your firm is thinking about embarking on a strategic planning initiative. Click here for more information and to download the session.
Additional Information
Please contact us at 404.885.9100 or info@managingpartnerforum.org
