Jeremy E. Poock, Esq.’s Post

Sharing a link to the April 2024 State of the Market for Law Firm Sales e-Newsletter. The April 2024 State of the Market for Law Firm Sales e-Newsletter takes a proverbial “deep dive” into the expectations by Senior Attorneys and their would-be Internal Successors, starting from 5+ years before a Senior Attorney law firm owner intends to retire to when a Senior Attorney announces plans to retire. Overall, the expectations of Senior Attorneys and their would-be Internal Successors do not align with respect to succession planning for the law firms where they practice together for the following reasons: Senior Attorneys: Most Senior Attorney law firm owners want, hope, and even expect that their would-be Internal Successors will someday offer to purchase the practices that Senior Attorneys developed during the course of their careers. Would-be Internal Successors: In a nutshell, would-be Internal Successors often consider themselves as employees of the Senior Attorneys who originally hired them, as compared to aspiring owners of small business law firms. Link to the April 2024 Newsletter: https://lnkd.in/dH6BpAGX Link to subscribe to The Law Firm Seller YouTube Channel: https://lnkd.in/e23R_fzE #lawyers #trialattorneys #lawfirms #successionplanning #attorneys #justice #Legal #Legalmarketing #attorney #legalnews

Sales of law firms to Growing Law Firms result in 4 wins. In Ep. 47 of the State of the Market for Law Firm Sales in 11 Minutes, Senior Attorney Match’s Jeremy E. Poock, Esq. explains the 4 wins that result when Senior Attorneys sell their law firms to Growing Law Firms. As Poock explains: The first win is for Senior Attorneys who “win” by monetizing their law firms and establishing a pathway to retirement. The second win is for the key employees at a Senior Attorney-led firm whom Growing Law Firms often hire as part of a sale of the practice. Their “win” involves getting a new job with salary, with benefits, with paid time off. The third win involves continuity for clients, where their “win” relates to the benefit of continuity of competent legal representation. And, the fourth win is for the Growing Law Firm that succeeds to a Senior Attorney’s law firm. Their “win” involves acquiring what Growing Law Firms want and need, namely, new client, plus talented lawyers to do the work. Watch here starting at Min. 14:37: https://lnkd.in/dG8N3BQA Link to subscribe to The Law Firm Seller YouTube Channel, home of the State of the Market for Law Firm Sales in 11 Mins.: https://lnkd.in/e23R_fzE #lawyers #trialattorneys #lawfirms #successionplanning #attorneys #justice #Legal #Legalmarketing #attorney #legalnews

Sharing a link to the June 2024 State of the Market for Law Firm Sales e-Newsletter. The June 2024 State of the Market for Law Firm Sales e-Newsletter includes describing the 4 Winners when Senior Attorneys sell to Growing Law Firms: Winner #1 – Senior Attorneys: As Senior Attorney Match’s Jeremy E. Poock, Esq. explains, the “win” for Senior Attorneys when they sell their law firms to Growing Law Firms consists of the following 4 components (1) Monetize the law firm; (2) No longer need to manage “The Office;” (3) Spend more time with family, as well as outside of “The Office,” generally; and (4) Continue practicing at the Growing Law Firm, but with a focus on matters in which Senior Attorneys enjoy. Winner #2 – Key Employee Lawyers & Para-Staff: As Poock points out, key employee lawyers and para-staff want job security. “They want to know that they're going to be able to maintain employment by joining a growing law firm, because what they really want and need . . . [is] to have reliable, predictable and safe jobs,” Poock states. Winner #3 – Clients: The clients of a selling Senior Attorney benefit significantly when Senior Attorneys sell their law firms to Growing Law Firms because of the peace of mind that they will continue receiving ongoing competent legal representation by lawyers at the Growing Law Firm whom their long-time Senior Attorney trusts. Winner #4 – The Growing Law Firms: As Poock explains, Growing Law Firms “win” based upon the following 3 components: (1) Succeeding a Senior Attorney’s Book of Business; (2) Adding competent, capable, and experienced lawyers and para-staff from a Senior Attorney-led firm; and (3) The treasure trove of digital content that Senior Attorneys and their key employee lawyers present to Growing Law Firms who need that digital content to attract the attention of post-2020 would-be clients who regularly search Google for attorneys to retain, as compared to yester-year’s Word-of-Mouth Era. Link to the June 2024 Newsletter: https://lnkd.in/dDCz6ihF Link to subscribe to The Law Firm Seller YouTube Channel: https://lnkd.in/e23R_fzE #lawyers #trialattorneys #lawfirms #successionplanning #attorneys #justice #Legal #Legalmarketing #attorney #legalnews

Sharing a link to the May 2024 State of the Market for Law Firm Sales e-Newsletter. The May 2024 State of the Market for Law Firm Sales e-Newsletter focuses on: 1. The 4 Winners when Senior Attorneys sell their law firms to Growing Law Firms. 2. The 3 reasons why would-be Internal Successors leave a Senior Attorney’s law firm to accept a job at another firm. Link to the May 2024 Newsletter: https://lnkd.in/d_6fZcmm Link to subscribe to The Law Firm Seller YouTube Channel: https://lnkd.in/e23R_fzE #lawyers #trialattorneys #lawfirms #successionplanning #attorneys #justice #Legal #Legalmarketing #attorney #legalnews

Sharing a link to the May 2024 State of the Market for Law Firm Sales e-Newsletter. The May 2024 State of the Market for Law Firm Sales e-Newsletter focuses on: 1. The 4 Winners when Senior Attorneys sell their law firms to Growing Law Firms. 2. The 3 reasons why would-be Internal Successors leave a Senior Attorney’s law firm to accept a job at another firm. Link to the May 2024 Newsletter: https://lnkd.in/dgmgcySn Link to subscribe to The Law Firm Seller YouTube Channel: https://lnkd.in/e23R_fzE #lawyers #trialattorneys #lawfirms #successionplanning #attorneys #justice #Legal #Legalmarketing #attorney #legalnews

Which is America's largest law firm in 2024? As we navigate the evolving landscape of the legal industry, it’s essential to stay informed about the leading players. Here are the top 10 largest law firms in the United States by headcount for 2024: Kirkland & Ellis: 3,043 U.S. attorneys Latham & Watkins: 2,614 U.S. attorneys Greenberg Traurig: 2,155 U.S. attorneys Holland & Knight: 2,035 U.S. attorneys Sidley Austin: 1,798 U.S. attorneys DLA Piper: 1,696 U.S. attorneys Morgan Lewis: 1,688 U.S. attorneys Jones Day: 1,647 U.S. attorneys Gibson Dunn: 1,629 U.S. attorneys Goodwin: 1,598 U.S. attorneys These firms have established themselves not only by their large headcounts but also through their extensive range of services and impact across various sectors. Understanding more market trends and details on how to approach these firms can be crucial. At #MES, we specialize in helping legal professionals navigate their careers with the right strategy. We focus on understanding each of our clients' needs and expectations to tailor our approach effectively. If you're looking to stay ahead in the legal industry or seeking new opportunities, MES can help you with the right insights and strategy to make informed decisions. E: info@molinaexecutivesearch.com

"There is not one 'right way' for a career path or even how one goes from law school graduate to partner at a firm," says Kerri-Ann Griggs of Alston & Bird in the latest in the "How I Made It" series. "My advice to an associate who wants to make partner is to make sure they’re not pursuing the role of partner as an end, but as a means to something larger and more meaningful. Who do you want to be more broadly and what type of impact do you want to have? How can the platform of being partner at a great firm like Alston & Bird enable that? That sort of underlying motivation is critical so that it can help you persist through challenges and bumps you will undoubtedly experience along the way. Moreover, it will help make sure that you continue to have fuel and don’t experience the milestone of becoming partner as hollow once you achieve it." . . . #lawfirmgrowth #lateralhiring #jobsearch #revenue #promotion #law #iplaw #mergersandacquisitions #transactionallaw #taxlaw #litigation #flexibility #lawfirms #atlantalawyer #legalrecruiting #AtlantaLegalRecruiters #theRMNagency #legalrecruitingfirm #legalrecruiter #legalrecruiters #legalsearch #atlantalegalrecruiters #atlantalawfirms #biglaw #smalllawfirm #inhousecounsel #associate #partner

Key employee lawyers typically do not want to purchase their boss’ law firm. During Ep. 9 of the Ask the Law Firm Seller Show, Jeremy E. Poock, Esq. addresses the following question: Why are today’s Senior Attorneys tired of running their law firms? Addressing the second reason why today’s Senior Attorneys are tired, Poock states: “The second reason why Senior Attorneys are expressing today that they feel tired as they're running their law offices is because they are either realizing or still just hoping that their would-be internal successor will walk down the hall on any given afternoon or morning and say, ‘Hey, now is the time. I want to sit down and have the conversation with you about purchasing the practice.’ And in reality, most internal successors, whom Senior Attorneys hired as their key employees, they really don't want to purchase your law practice. They can't afford to. And really, they just want to have a job.” Listen here: https://lnkd.in/dnjac9A2 #lawyers #trialattorneys #lawfirms #successionplanning #attorneys #justice #Legal #Legalmarketing #attorney #legalnews

Key employee lawyers and support staff win when Senior Attorneys sell to Growing Law Firm. In Episode 14 of “The Ask the Law Firm Seller Show,” Senior Attorney Match’s Jeremy E. Poock, Esq. explains the following 2nd of 4 Winners when Senior Attorneys sell their law firms to Growing Law Firms: “The second winner are those key employee lawyers . . . They wanted a job. They didn't want to purchase your practice. And so, when the entire team joins a Growing Law Firm, it's a huge win for those key employee lawyers, as well as the para-staff, because they get what they want and need, which is a stable job.” Watch here: https://lnkd.in/dQRNd7qj Link to subscribe to The Law Firm Seller YouTube Channel: https://lnkd.in/e23R_fzE #lawyers #trialattorneys #lawfirms #successionplanning #attorneys #justice #Legal #Legalmarketing #attorney #legalnews

Key Employee Lawyers do not want to purchase their boss’ law firm. In the Q&A segment of Ep. 15 of the Ask the Law Firm Seller Show, Senior Attorney Match’s Jeremy E. Poock, Esq. shares the following in response to the question: “Why does Senior Attorney Match suggest selling to a Growing Law Firm?” “In terms of why it is that Senior Attorney Match recommends selling to Growing Law Firms, let's first look at who we recommend not to sell your law firm to. And, this is not 100% the case, but we find that it's probably 80% plus, maybe even 90% plus, that your internal Key Employee Lawyer is typically not the right person or persons to purchase your law firm.” Watch here: https://lnkd.in/dEjksvKc Link to subscribe to The Law Firm Seller YouTube Channel: https://lnkd.in/e23R_fzE #lawyers #trialattorneys #lawfirms #successionplanning #attorneys #justice #Legal #Legalmarketing #attorney #legalnews