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Vol 21 No 10 Oct/Nov 2016

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Law Management Section Financial Benchmarking Survey 2013


ISBN13: 9781853286230
Published: January 2014
Publisher: Law Society Publishing
Country of Publication: UK
Format: Spiral Bound, A4 Landscape
Price: Out of print



The Law Management Section (LMS) annual benchmarking survey is widely regarded as the leading annual health check report for medium-sized firms. With over 165 firms responding, the survey contains detailed data essential for rigorous evidence-based decisions.

The survey shows a general increase in profitability resulting from a combination of increased income and continued control over spending. It also reveals that a greater number of practices have converted to a limited company or LLP.

As a unique source of data that is essential for rigorous evidence-based decisions, the Financial Benchmarking Survey 2013 will help you to look at your firm's financial performance objectively and to plan your strategy effectively.

New to this edition is a chapter on financial stability and the key challenges to firms in the future. The survey also covers areas including:

  • fee income
  • interest receivable
  • the ratio of fee earners to equity partners
  • the future of the legal profession.

Now in its fourteenth year, the survey is produced in association with Hazlewoods LLP andsponsored by Lloyds Bank.

Subjects:
Legal Practice Management
Contents:
1. Introduction
2. Summary of findings
3. Fee income
4. Employment costs
5. Profitability
6. Profitable practices' characteristics
7. Working capital
8. Financial stability
9. The short-term future
10. The future of the legal profession
11. Key financial challenges
12. Appendices.