Is the law firm across the street (where a partner’s spouse works) more profitable than yours? What is an acceptable profit margin and how does leverage impact profit margins? Some law firms struggle with identifying what to measure, and how metrics and analytics can support business strategies. Be sure to attend this program that will assist you in knowing how to identify metrics that provide insight on how your firm is performing.
Objectives:
• Identify the differences between corporate and partnership profits
• Determine the pitfalls to avoid comparing profits and benchmarks
• Explain how your firm differs from other firms with respect to profitability
• Determine what metrics are more important, what to analyze, benchmark, and use for planning purposes
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Using metrics to improve financial performance
CLM Credits: (Note that only the CLM credit available for this webinar is stated below. If a credit is not stated, it is not available for this program.)
CLMSM Recertification Credit: 1 hour in the subject area of Financial Management (FM)
CLMSM App Credit for Functional Specialists (who are not Finance Specialists): 1 hour in the subject area of Financial Management (FM) towards the additional hours required of Functional Specialists to fulfill the CLM application.
Stephen M. (Pete) Peterson is the CEO of the advisory firm Maxfield Peterson and is the Managing Director of the Firm’s specialty practice, the Law Firm Business Institute. Prior to this, he was the COO for Hildebrandt International, the CFO and Director of Administration for an international law firm and the CFO for a regional law firm. He counsels firms on strategy, mergers & acquisitions, compensation, governance, and profitability. Peterson is also an adjunct
professor in the Master of Science in Legal Administration program at the University of Denver’s Sturm College of Law and a Fellow in the College of Law Practice Management since 2008.
If you intend to take a course for CLE credit, please make sure your state is listed in the "Accreditation" section to the upper right of the program description. Accreditation displayed is unique to the purchased program format (live conference, live webcast, on demand, podcast). Credit totals listed for live conferences are the maximum credits available. Credits issued will be based upon actual time in attendance. Credit totals for other formats are for complete programs. Partial credit is not available for any online or downloadable format.
West LegalEdcenter will not provide accreditation for states not listed.
This product is intended for individual use by the named purchaser. Group viewings for online programs may be arranged for five or more attorneys within the same organization prior to viewing by emailing west.wlec-sales@thomson.com.