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The rise and rise of the consultant lawyer
Modern Lawyer
Vol. 8 - Iss. 3 pp. 46–54
Oct 2024
A report by Arden Partners plc in 2023 revealed that legal consultancy firms are growing three times faster than mid-market law firms. The study suggests not only an increase in the numbers of lawyers entering consultancy firms, but also in revenue, achieving a two-year compound annual growth rate (CAGR) of 26%, in contrast to just ten percent for the legal mid-market. This article explores the consultancy lawyer market and shares insight from consultancy lawyers and platform law firms, plus practical tips and self-reflective questions.