Thursday, December 13, 2018
ABA Journal, Law Firms Are Having the Best Financial-Growth Year in About a Decade, Two Reports Conclude:
Law firms increased revenues this year, posting gains during the first three quarters that are the best in about a decade, according to two new reports.
The numbers differed slightly, but the conclusion was the same: 2018 is shaping up to be a good year, thanks to higher billing rates and higher demand for legal services.
Wells Fargo Private Bank’s Legal Specialty Group found revenue growth of 7 percent among its surveyed law firms, while Citi Private Bank’s Law Firm Group reported revenue growth of 6.3 percent.