Today we will provide information and reviews about Big Law Firms Abandoning T&E Practices: Opportunities for Small Individuals?
Read the following article to get more information.
Interesting video here on Bloomberg News (in the first minute and a half) about large firms moving away from trusts and estate practices to serve larger clients. But nature abhors a vacuum – and the clients of these trusts and estates have to go somewhere. And while these clients—likely high-net-worth individuals or small businesses looking for old-fashioned planning—may be little kids to the big boys, they could make a profitable case for a smaller firm. Besides—let’s face it—most of these customers probably weren’t a priority at big companies anyway, so they might appreciate some white-glove service from a small company grateful to serve them.
How to find this business? Why not refer to companies that have abandoned their trusts and estates and introduce yourself as a reference. And for large firms that already have trusts and estate practices, you could propose a strategic alliance—perhaps asking the firm to retain the clients (because they may be doing other work for those clients) but offering to partner with a consultant or enter into a strategic alliance. The basis of this is a possible win-win for everyone.
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