In a recent article for Manging Partner Magazine, DMH Stallard's Managing Partner, Tim Aspinall provides his insight into the structural changes needed in law firms of the future.
The recession has had a big impact on law firms. The volume of work declined post-Lehman and, although firms shed staff faster than they had done in previous recessions, there are still too many firms for the work currently available in the UK.
With supply greater than demand, prices have fallen over the past three years. Clients have taken steps to reduce their legal spend and law firms have had no option but to agree to lower prices. Panel reviews (often conducted by procurement specialists not lawyers) and beauty parades continue to force prices down as equally competent law firms which need the work are pitted against each other.
A full copy of the article from Managing Partner Magazine is available here
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Scott Garner
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Note to Editor:
About DMH Stallard LLP
DMH Stallard is dedicated to making our clients the centre of our business and delivering technical excellence, so we can work together as legal and commercial partners. The firm invests in building long term relationships with its clients, so we can support their strategic objectives and deliver solutions that are needs driven.
Our practice has been developed to provide users of traditional City firms with a genuine alternative. To put it simply, our clients benefit from technically excellent advice led by senior partners whilst enjoying sensible and transparent pricing structures.
We are proud to work with some of the most innovative and successful organisations in the country including major financial institutions, many FTSE listed companies, private equity backed businesses and high profile public sector bodies. We are also delighted that the firm continues to be recognised with prestigious awards.
One Firm Approach
DMH Stallard provides integrated legal services from our offices in London and Gatwick.
Our one firm approach ensures our clients have access to technically excellent advice across the board that is efficient, economical and perfectly aligned to their needs. This approach enables us to deploy integrated teams that are capable of working on large complex projects that require expertise from multiple disciplines.
We continue to attract some of the best talent in the City who want to work with us, and our approach continues to attract clients looking for a genuine alternative to traditional City law firms.
