November 18, 2021
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Trailing National Averages, Florida Law Firms Kept Growing in Q3 | Daily Business Review - Law.com

Boca Raton skyline and reflections on a starry night, Florida.Credit: jovannig/Adobe Stock

What You Need to Know

  • While Am Law 50 firms lead the nation in revenue and profit gains, regional Florida firms are seeing significant gains as well, according to a new Wells Fargo survey.
  • Florida firms are also paying less in attorney compensation than the national average.
  • A 12% increase in inventory bodes well for a strong close to the financial year.

Large and midsize Florida law firms continued growing revenue and profits in the first nine months of 2021 compared to the same period of 2020, according to the Wells Fargo Legal Specialty Group nine-month check-in survey.

The survey polls more than 120 law firms, half of them Am Law 100 firms. In Florida, nine firms were polled. But, according Wells Fargo private bank legal specialty group senior director Joe Mendola, about two-thirds of the Florida firms aren’t in the Am Law 200, which makes their results even more impressive.

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source: https://www.law.com/dailybusinessreview/2021/11/18/trailing-national-averages-florida-law-firms-kept-growing-in-q3/

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