Florida Firms Outperformed Most Among Am Law 200 in 2021, Wells Fargo Data Shows | Daily Business Review - Law.com

What You Need to Know

• Florida law firms in a new Wells Fargo survey reported an average of 13% revenue growth in 2021.
• The Am Law 1-50 posted 16% average revenue growth, while Am Law 51-100 firms and Second Hundred firms reported 11% and 9% growth, respectively.
• Competition for legal talent drove Florida expense increases above the national average.

Without the benefit of the elite corporate M&A practices that drove record profits at Am Law 50 firms last year, a group of 11 Florida law firms performed nearly as well as the Am Law 1-50 by revenue growth and outpaced the Am Law 51-100 and Second Hundred.

That’s according to a new Wells Fargo Legal Specialty Group year-end survey of 130 U.S. law firms, including 65 Am Law 100 firms and 65 Second Hundred and unranked firms. It found that the best-performing firms in 2021 tended to be in California and the Northeast, which the survey authors attributed to the growth of capital markets, life sciences, and technology companies in those areas.

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source: https://www.law.com/dailybusinessreview/2022/02/03/florida-firms-outperformed-most-among-am-law-200-in-2021-wells-fargo-data-shows/

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