Utilizing Alternative Fee Arrangements for Greater Predictability & Client Satisfaction

recording Utilizing Alternative Fee Arrangements for Greater Predictability & Client Satisfaction

You Will Learn:

  • How to deliver predictability, and avoid clients bringing their business ‘in-house’
  • Which AFAs leading firms are using
  • Key steps to make pricing more transparent, and client friendly
  • Common pricing mistakes, that every firm can change
Access the pre-recorded audio conference

Alternative fee arrangements are here to stay.

In fact, more and more clients, both large and small, are proactively asking for the cost predictability, certainty, and transparency which they provide.

This CLE will give you a structured, practical approach to fee management, with a special focus on the pricing structures clients want, and how to deliver.

Learning Objectives

  • Create a pricing strategy that goes beyond one-size-fits-all, and attracts more business
  • How to price a matter so it demonstrates clear value for clients, while leaving room for adjustments (and firm profits)
  • Law departments and law firms- How to speak the same language
  • Transparency- the devil in the pricing details, and how much data client expect firms to share
  • How to use data analytics to support pricing decisions (and delight clients)

Plus, our faculty panel will guide you through the types of AFAs flooding the marketplace:

  1. Flat or Fixed Fee
  2. Contingent or Success Fee
  3. Task or Unit-Based Billing
  4. Percentage Fee
  5. Retrospective Fee Based on Value
  6. Statutory or Other Scheduled Fee Systems
  7. Hybrid Fee Arrangements
    1. Blended Hourly Rate
    2. Fee Collars
    3. Fixed Fee Plus Success Fee
    4. Hourly Rate Plus Contingency

AFAs can provide greater fee predictability and better value in appropriate matters. This CLE will explore how.

Product ID: 7866

Find Out How AFAs Can Help Your Firm Avoid Clients Bringing their Business in House!

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James A. Loef­fler
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
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.

William Josten, Esq.
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.

Continuing Education Units

  • cle

    C4CM provides audio conference attendees with CLE credit processing services. To expedite C4CM processing your CLE request, please complete and submit the evaluation form available from C4CM at the conclusion of the audio conference. It will be necessary to enter the following information: name of each attorney requesting CLEs with full contact information, including e-mail address, bar number, and the state in which the attorney wants credits. Each attorney requesting credits must submit an evaluation.

    Please be advised C4CM audio conferences are subject to approval from each CLE issuing organization and approval is not guaranteed (state bar associations in Delaware, Indiana, Kansas, Ohio, and Pennsylvania do not grant CLE credits for audio conferences). The approval process takes approximately 6 – 8 weeks for most organizations but can take as long as 3 – 4 months. You will be notified via e-mail with the final status of your CLE application.

    Any person applying for CLE credits must attend the audio conference from start to finish (attendance will be taken for compliance reasons). Requests for CLE credits must be received no later than two weeks following the conclusion of the audio conference or live conference. CLE credits are not available for CD recordings.

    If you have any questions regarding CLE credits, contact Jill Adler at 631.368.2082 x 21 or jill.adler@meeting-matters.com.

Find Out How AFAs Can Help Your Firm Avoid Clients Bringing their Business in House!

Order my recording now

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