Future of Finance for Law Firms

Adjusting the numbers – the future of finance in law firms


I was recently honoured to be asked to write part of a new book by Globe Law and Business on the future of finance in law firms.

Details of the book can be found at:


This new title follows on from the principles of my first published book https://bookshop.lawsociety.org.uk/p/financial-stability-toolkit-paperback-cd/ where I covered the basis of running a successful law firm.

In this new book, I look to the future of law firms and extend on those principles.  I argue that whilst the historic principles remain, the profession was slowly modernising and then Covid hit like a thunderbolt moving the requirements of managing a law firm on to another level completely – and there is no turning back as we move into the future.

I conclude that there is one key word to take forward to describe future management of the finance of law firms – and that is Flexible.

There will be a need for flexible …

  • Fee earning – timing/location/method of services/self-service/automation/processes
  • Office environments
  • Employment/self-employment status – the rise of self-employed consultants both within law firms and within virtual/platform firms
  • Reward
  • Pricing
  • Ownership models
  • Outsourcing – turning fixed costs to variable costs, including fee earning
  • Off-shoring/North-shoring
  • Management – and the use of professional managers/CEOs

For more details behind this, including coverage of:

  • Historic foundations
  • The financial impact of Covid on law firms
  • Anticipated impacts on law firms as we emerge from Covid
  • Lessons learned from the Covid experience
  • Law firms of the future

copies of the book can be purchased at https://www.globelawandbusiness.com/books/adjusting-the-numbers-the-future-of-finance-in-law-firms

To discuss any of the issues mentioned above, please speak to one of our Legal Sector experts on 0808 144 5575

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