A STARs analysis can help law firms to identify their strengths and weaknesses and develop strategies to improve their performance. The analysis looks at the normal workflow of a law firm’s fee center, help determine the efficiency of the firm, and how to improve overall performance.
You might be ready for the SDBA in your firm’s 401(k). Self-directed brokerage accounts (SDBAs) within 401(k) plans, are under-utilized by attorneys. This under-representation is a shame. It indicates missed opportunities for attorneys. To optimize their retirement savings and achieve…
Accountability necessitates an even higher level of responsibility and readiness to accept responsibility for one’s own conduct for legal practitioners. Accountability is established through culture, which is built through every member of the firm’s strategic actions. If you want to influence change…
Job hunting is a job within itself. It can be rewarding as well as discouraging. In my day-to-day as a recruiter, I see many things I would have done differently if I was the job hunter. As the hunter, you want to stand out above all other candidates. This does not mean watermarks, pictures, colored or…
Stick to the phone script. The script that works is your best friend, influencing your prospective and established clients to do business with you–what they wanted to begin with or they wouldn’t have called you. If you get lazy about this and allow your team to deviate from the script…
Many law firm 401(k) retirement plans offer a self-directed brokerage account option. For those that do not, a simple request to the firm’s 401(k) provider can make this option available. The self-directed 401(k) provides potential advantages for small and mid-size law firms.
It certainly didn’t take long for 2021 to get one foot out the door. Despite what felt like a never-ending winter for a good portion of the country when a polar vortex sat on it, we’ve made it to summer! Here at RJH Consulting, we know that it can feel like the year, and your goals are quickly slipping away…
I have been providing investment advice for law firm retirement plan participants since 1999. My experience leads me to conclude that legal professionals suffer from the same investment management dilemma that plagues my CPA, doctors’ group, and Fortune 500 company…
Learning how to manage a small law firm is often regarded as easier than learning to manage a larger law firm since there are fewer people, departments, and resources. Yet, this isn’t necessarily true. Law firm management for a small law firm is often more difficult because one person is…
The pandemic led to many managing attorneys taking a good, hard look at their law firm operations. Many law firms believed the only way to survive the pandemic was to cut pay and layoff their employees. For some, this type of cost control may have been necessary. What many legal industry…