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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.

Legal Practice Management
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.