Legal Practises Survey Results

By admin - February 29, 2016

Pitcher Partners Melbourne recently conducted a Legal Industry Research Survey as part of our benchmarking research project.

The survey was designed to gain further insight about:

  • The way firms in Australia are organised and operate
  • Firm’s financial performance and indicators from the 2015 financial year
  • Key industry themes, challenges and opportunities
  • Strategies for succession, practice exit and value maximisation

This year’s survey confirmed many of the major themes affecting legal firms:

  • Revenue continues to slow. This will affect profitability and require some smarter thinking about marketing and digital strategies.
  • Staff remain a major cost, which means utilisation as well as pricing need to be a key focus.
  • Outsourcing is becoming more popular, but those who have not considered it yet have no plans to in the future, perhaps widening the gap between innovative and other firms.
  • Succession is a major issue, with almost half the practices having an average equity partner age over 51 but only a third having documented succession plans.

To read more download the full survey results please click here


Other articles


 

Top of Page


 Back to News




IN THIS SECTION:


Rob Southwell

Sydney

Managing Partner and Partner – Private Clients Group


> View profile

John Brazzale

Melbourne

Chairman - Pitcher Partners Association Partner/Executive Director - Tax Consulting


> View profile

Bryan Hughes

Perth

Chairman


> View profile

Michael Minter

Newcastle

Managing Partner


> View profile

Tom Verco

Adelaide

Managing Principal


> View profile

Ross Walker

Brisbane

> View profile



Partnership fraud

SUCCESS

Paperwork and independent advice saves partnerships from fraud

Discover more

Kia Ora Horse Stud

CASE STUDY

Pitcher Partners fills a Financial Manager gap to keep the business on track

Discover more

Fuel Injection Company Administration

LEADERSHIP

A fuel injection company began life as an Australian public company before being acquired by a UK publicly listed company while in the research and development stage of a “green...

Discover more



@PitcherPartner NEWS | Pitcher Partners are incredibly proud to be named as a finalist in the state-based SMSF and Accounting Award… https://t.co/gM0HXWMBu7