This article originally ran in The Legal Intelligencer on August 7, 2023. All rights reserved.
According to The Legal Intelligencer's recent article, Philadelphia midsize firms fight to stay midsize, following Schnader's dissolution. The article discusses how observers noticed the firm struggling to institutionalize major clients and that it became top heavy with senior partners who were no longer bringing in as much work.
As a mid-sized firm celebrating 50 years of legal excellence serving the Philadelphia area, The Legal Intelligencer reached out to LaVine for insight.
“The more important thing than just growth is that you’re being strategic and bringing in practice groups and lawyers that can strengthen your existing bench. And as some more senior lawyers begin to slow down their practices, you’re bringing in young lawyers who can take on that existing work and service your clients,” Flaster Greenberg co-managing shareholder Jordan LaVine said.
Specifically, LaVine said it is important for midsize firms to foster a culture of collaboration and cross-selling between partners, which helps not only grow the work, but also retain talent.
Law firms run on tight budgets, so it doesn’t take much time “for things to come undone very quickly,” LaVine said.
“The challenges can come quickly. It’s why you can’t take your eye off the ball,” he said.
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