Financial Benchmark Reports
Compare your numbers with other solicitors and legal practices like you, so you know where your law firm stands - and what should be possible.
More importantly - as you probably already know the numbers - share this information with your fee earners to set expectations and develop a better understanding of how their ways of working can put more money in their pockets.
Key measures include:
- Fees per Fee Earner
- Fees per Equity Partner
- Profit as a % of Fees
- Profit per Equity Partner (PEP)
- Gearing
- Fee Earners as a % of total headcount
- Recorded chargeable hours per fee earner
- Recovered rate per hour
- Business Model options
- Lock-up - Work in Progress, Debtors and combined (days)
- Partner capital as % of fees
- Bank Borrowings as a % of real partner capital
- Client account balances as a % of fees
You can evaluate where you stand and what you want to improve on. There is a good chance that you will find that your lawyers need more help to understand how the way they work and manage client relationships impacts directly on financial performance - and what they should change to make a difference.
This is an area where we provide powerful training and ongoing support to help you improve the financial performance of your practice.
2021: LMS
2019: LMS
2018: NatWest
2018: MHA
2018: LMS
2018: Crowe
2017: Armstrong Watson
2017: NatWest
2017: MHA
2017: Crowe
2017: LMS
2016: NatWest
2016: MHA
2016: Crowe
2016: PwC
2015: NatWest
2015: NatWest Annual Review
2014: NatWest
2013: NatWest