“Build Your Practice/Retain Your Clients”
Ohio State Bar Association www.ohiobar.org
We needed some ideas about succession planning; more specifically, how to best transition our practice to our non-equity partners. We wanted to make sure that any proposed buyout was a fair one for all parties. We received thoughtful, timely and very…"
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You’ve heard it from me and others; the key to satisfied clients is managing client expectations. And fees are perhaps the single client service area where lawyers fall short the most when managing expectations. Failure to manage fee expectations will not only lead to an unhappy client, it could also subject you to possible discipline. Remember, Rule 1.5 of the Model Rules of Professional Conduct (Fees and Division of Fees), states in relevant part:
A key aspect of any law firm succession plan is keeping the firm’s best clients when the rainmakers are gone. As more Boomers retire or start their winding down efforts, concerns about client retention and proper compensation are at the forefront of succession plan conversations.
Roy is a lawyer by training and trade. He has 30-plus years of experience practicing and representing clients in a variety of environments: big law firms, small firms, in-house counsel and solo practice. He still practices part-time in a solo practic…