A must for every law firm partner, this comprehensive webinar will explore how to use your firm’s profitability data to identify opportunities to:
- Improve processes,
- Make better business decisions, and
- Increase net income per partner.
During this power-packed session, our expert faculty will examine the most current factors affecting profitability analysis and methods to apply profitability data for:
- Target profit margins for timekeepers
- Ongoing comparison of real profitability performance to budgeted performance
- Allocation of resources
- Crafting and Managing Alternative Fee Arrangements (AFAs):
- Risk versus reward
- Designing and retaining AFA profitability
- Hiring and Salary Decisions
- Combination of salary, fringe benefits and overhead
- Reasonable profit margin for different levels of attorneys and paralegals
- Incorporating expected profit (first year, second year, etc.) into the negotiation with a lateral attorney
You will also learn profitability reporting best practices, and how to improve firm efficiency by applying profitability information as it relates to:
- Individual matters
- Partners, and
- Practice groups
Product ID: 5633
Discover How to Develop Improved Analysis Tools that Maximize the Way they Apply Profitability Data!Order my recording now
William Josten, Esq.
National Law Firm Profitability Specialist, Thomson Reuters
Bill Josten is the Westlaw National Firm Profitability Specialist, consulting with Large and Medium law firms nationwide on strategies regarding pricing, profitability, and cost recovery. Bill has also worked with large law firms as a National Account Representative and as a Reference Attorney. Prior to joining Thomson Reuters, Mr. Josten was an attorney practicing in criminal defense and general civil litigation. Bill was previously an Adjunct Professor of Law at the University of St. Thomas School of Law in Minneapolis, Minnesota, and has clerked at the Minnesota Court of Appeals.
James A. Loeffler
CPA, CFE, Certified Six Sigma Black Belt, CEO, LegalEye
Jim has over twenty years of financial, operational and information technology experience, which includes leadership roles with Ernst & Young LLP (EY), Campbell Soup Company and MBNA America (Bank of America). He founded LegalEye® in 2005 with the mission of helping businesses and the law firms that serve them reduce and control legal costs and the processes and risks that drive them. As a CPA, Jim has developed and implemented scalable data mining and analysis protocols, financial reporting structures and data visualization solutions that engage diverse groups of stakeholders.
Peter Lane Secor
Director of Strategic Pricing and Project Management, Pepper Hamilton LLP
Peter Lane Secor is the director of strategic pricing and project management with Pepper Hamilton LLP. Mr. Secor concentrates on legal project management, with focuses of improving efficiencies through shared management responsibilities,strengthening communication and making value transparent.