Law, accountancy and architects practices, along with other professional services firms are undergoing significant changes. This cycle of change impacts both financially and operationally. Firms are not always well equipped to deal efficiently and effectively with the multitude of work streams, particularly stakeholder interests, stemming from change.
The legal industry is probably undergoing the most rapid change. In times gone by law firms with reasonable reputations and service offerings, could look forward to comfortable levels of success. That was then, this is now. Recent years have seen a stark increase in the number of firms finding themselves in real financial difficulties, highlighted by a number of mergers and failures. Those not ready to change with the times are increasingly finding themselves being rapidly left behind.
At De Novo Advisory, we have extensive hands on experience of working with multiple stakeholders in often highly charged situations – there is a lot at stake on a personal level too for individual partners, and value preservation is imperative in securing a viable model for future success. We have strong relationships with a multitude of funders, acquisitive parties, and also links with the SRA gained from past experience.
We want to hear from you, if you have concerns about your Practice; please contact us for a no obligation conversation.