Public Finance Blog

Last week, I wrote about the merger frenzy of the medium-sized law firms. I tried to share the perspective of the pros and the cons of this merger’s activity to lawyers at both medium and larger firms; however, my head of the public finance group, who shared this information with me, felt as though I did not do enough justice to the why of the move.

Let’s Talk Boutiques

So, here it is: medium-sized law firms are coming together to compete against the larger firms.  They are realizing that for them to continue to hire and be competitive, this is the proper play for them.  The days of the small boutique firms are also being extinguished, but not at a rapid rate.  The niche boutique firms have a place in the marketplace, but are aware of no chance to really grow and offer their clients additional non-niche assistance.  That is why they remain niche boutique firms.  Within the field of public finance, there are many powerful niche firms throughout the nation.

The Offering Platter

What do the larger firms offer (beyond the obvious size and a more robust platform)?  In a few words, they offer their clients a “full house” of products and services across all sectors.  Their goal is to control that client and offer everything they need.  Why is this important for you, the bond counsel/public finance team?  The major reason is you get to literally control your clients’ needs, in essence keeping the fox out of the hen house. You, the attorney, will be able to cross-sell your current clients and, in most cases, either receive billing credit or actual compensation for the in-house referral.

Location, Location, Location

Another reason is the new merged firm is offering new locations that were not available to your current marketplace before.  You will have the opportunity, due to their geographical market, to be able to work more effectively and broadly in more remote locations in the country.  Where you may be a lawyer in a lesser-known public finance marketplace, now you have the assistance of much larger firms, enabling you to expand your own individual marketplace.  In addition, with more firms not emphasizing public finance clients, you can now take your practice to firms that are truly dedicated to this “side of the pond.”  It’s the firms that are truly dedicated to our niche industry of public finance, and all its growing sectors.

If this blog resonates with you, let us introduce you to these firms.  We have been growing with them for numerous years and know what it takes for you to get placed there.

Conclusion

You don’t need a resume to chat with us! If you would like to discuss your options, please reach out for a confidential conversation at 760-477-1284 or email at harlan@hfriedmansearch.com. He can also be reached on LinkedIn. Harlan publishes a blog every Thursday here. Subscribe to our monthly newsletter here, which is a compilation of our weekly blogs, so you never miss one. We have also been mentioned in Forbes this year, click HERE to read more.  

About Harlan Friedman, JD & Founding Member, H. Friedman Search LLC. Harlan is a thirty-year veteran Public Finance Banker turned recruiter who specializes in the placement of all levels Public Finance Bankers, Healthcare Bankers, Municipal Advisors, Compliance Officers, Issuers, and Bond Counsels.