The Benefits of Growth by Acquisition Explained

As Jeremy E. Poock, Esq. explains, Growth by Acquisition in the Legal Industry presents the following 2 benefits:

1. Pure Growth by Acquisition: In pure Growth by Acquisition, a Growing Law Firm acquires a Senior Attorney lead firm with “like kind” practice areas such as both law firms practicing in the areas of Estate Planning, Business Law, and Real Estate Law. In terms of how it works, Growing Law Firms accomplish pure Growth by Acquisition via Trust Transfer involving Senior Attorneys transferring the trust of their established clients and referral sources to the lawyers at the Growing Law Firms that they join.

2. Cross Marketing / Cross-Solving: By joining Growing Law Firms that offer complimentary practice areas to the Mature Practice Attorneys of a Senior Attorney, Growth by Acquisition presents Cross-Marketing, or really, Cross-Solving opportunities that: (i) Benefits the clients of Senior Attorneys; and (ii) Presents “1 + 1 = 7” business development opportunities to Growing Law Firms.