The Top 4 Law Firm Sale Trends in 2023 consist of the following:
Trend No. 1: Internal Successors do not want to purchase a Senior Attorney’s law firm because they went to law school and not business school. Most Internal Successors also cannot afford to purchase a law practice.
Trend No. 2: Growth by Acquisition has arrived to the legal industry, which will continue throughout the remainder of this decade . . . and beyond.
Trend No. 3: Trust Transfer works. During the Law Firm Sales 1.0 Era, Senior Attorneys will continue monetizing their law practices by transferring the trust of their clients to lawyers at the law firms that they join.
Trend No. 4: Business Development during the Post-2020 3.0 Digital Era points to Google. Senior Attorneys will either need to themselves adopt Multi-Channel Digital Marketing, or, as Senior Attorney Match recommends, consider joining Growing Law Firms who welcome utilizing and expanding upon the Digital Value that Senior Attorneys present.
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