AVAILABLE OPPORTUNITIES (312) 781-9000
13 Feb

Law Firm Revenue, Profits Up in 2017, Wells Fargo Report Finds

by: Astor Professional Search

Law firm financial performance finished 2017 on a positive note, with a larger segment of the legal market contributing to upward trends in revenue and profits than in recent years, according to a new report by Wells Fargo Private Bank’s Legal Specialty Group.

The report, drawn from a survey of 160 firms, reported that law firm revenue and profits were up between 3 percent and 4 percent for the legal market overall. Firms in the Am Law 50 reported revenue growth of 6.8 percent in 2017, while the Am Law 100 as a whole reported a 5.26 percent increase in revenue. Firms in the Am Law Second Hundred saw a smaller revenue uptick of 2.33 percent in 2017, the report revealed (as quoted in The American Lawyer).

“The enthusiasm is derived from a slight-to-moderate improvement in transactional activity,” the Wells Fargo report said. “Most believe the corporate tax changes and a general improvement in our economy will buoy corporate, M&A, capital markets, and other transactional work.”

See highlights from the full article on The American Lawyer.

Contact Bill Sugarman for more information.

Share it here
Related Posts
15 Jan ‘Big Law’ Firms Continue to Struggle as ‘Large Enough’ Firms Thrive
‘Big Law’ Firms Continue to Struggl...

The world’s largest law firms are still feeling the heat from their stagnated approaches, as discussed in last week’s po...

18 Jul Women in Big Law: Reaching Gender Parity
Women in Big Law: Reaching Gender Parity

Law.com reported that only 34% of lawyers in large firms today are women. That statistic has faced less than a 1% increase over the ...

05 Jun Despite Latest Results, The Am Law Second Hundred Firms Show Steady Progress
Despite Latest Results, The Am Law Second Hundr...

The American Lawyer published results from its annual Am Law 200 report, which includes data and rankings for th...