I was sat with a client last week who talked about their changing brand and social media policies, along with how they want their team to carry themselves online: "We want to be solutions experts and trusted advisers first, lawyers second." It was really quite a striking sentence given the context - a top 50 UK law firm.
Then when I read the below post a few moments ago, it then rang very true once again: Law firms need to be the trusted advisers (on more than just the law!) to guarantee long-term profitability. Showing you are committed, show you care and how you can add value over & above the legal knowledge you are delivering.
A great boost for UK law firms as we move towards 2020!
What is particularly interesting in this piece is how the UK firms are seen to be doing a better job positioning themselves as those long-term advisers, rather than short-term bread winners.
Helen Bradley, Baker Mckenzie’s London corporate finance head, said some US firms in London “just want to do the big ticket deals”. “Our strategy will be much closer to the Magic Circle,” Bradley said. “We want to be retained advisers to FTSE companies, we see value in that.” Sarch said: “You have to show these guys you are committed and not looking simply to monetise the short-term relationship.