Changing Client Relationships
Managing partners agree that change is inevitable and that we are entering a new era of client relationships with different expectations around the services professionals provide and how these services are provided.
It is now a decade since the start of the Global Financial Crisis which saw a seismic shift in the relationships between law firms and their clients. This resulted in a clear shift of power and control towards the client who themselves were being measured on their control of spend and efficiency. Whilst this aspect appears to have settled to a degree, change is a constant and the need to adapt is still an essential element of a Managing Partner role and function.
Our research shows Managing Partners think that how law firms interact with their clients will be key to maintaining and growing a successful law firm. It is times of rapid change that create
opportunities for the bold and we are seeing some law firms spending time with their clients to understand their business to adapt their offering to align with the clients own business and markets.
Read our full report on the changing nature of client relationships here.