Hangley Aronchick Segal Pudlin & Schiller shareholder Jason Levine authored an article for The Legal Intelligencer titled, “The Staying Power of Small and Midsize Firms.”
Jason summarizes the current merger-friendly legal market, highlighting several recent examples. He notes that there is plenty of opportunity for law firm combinations, as the legal profession is among the least consolidated professional services industry in the country, but he also shares some of the downsides of mergers, including an increased risk of client conflicts and the challenge of integrating cultures.
Within this market, small and midsized firms hold a valuable place as an alternative to the larger, combined firms. Citing Hangley Aronchick as an example, Jason explains that boutique firms handle the most sophisticated litigations and deals across the country but tend not to take on matters that require throwing a small army of attorneys at them. Rather, they can focus on doing what they do well (litigation, for instance) without trying to be all things to all clients. Smaller firms also tend to have more competitive rates and can be more flexible in structured fee arrangements.
Hangley Aronchick’s growth has been careful and deliberate, supported by the firm’s close attention to bringing in attorneys and staff who will contribute to a collegial, engaged community. Jason also notes the opportunities associates have at a smaller firm, with the chance to develop skills and handle meaningful work earlier in their careers.
