Bantam Inc. has launched a service for lawyers to help them evaluate and negotiate high-stakes lateral moves to other firms.
Bantam levels the playing field for attorneys contemplating the move and helps them think through the risks and opportunities.
Today, biglaw attorneys are like unrestricted free agent athletes, able to play for any team and signing big contracts with eight-digit salaries and bonuses. However, these moves are not without risk.
The attorneys are negotiating with savvy law firms and their CFOs, who have negotiated similar deals many times, whereas the partner will likely only do it once. Attorneys who undertake this task alone, have a fool for a client.
Given the risks involved with making a lateral move, attorneys need support in evaluating deal terms, structure, evaluating the business strategy and plans of the acquiring firm, and comparing the offers to staying or starting their own firm.
Making it Work
It is widely known that many lateral moves do not meet expectations. We believe this is due to two factors. First, there are unrealistic expectations on both sides as to the percentage of clients and revenue that can be ported to the new firm and how fast the revenue can ramp. Second, there is deficient strategic planning and execution to make the move a success.
Lateral moves must be planned with military precision and every action planned down to the minute over the first few days, to the hour over the first week, and daily over the first month. There also needs to be weekly and monthly milestones for both the partner and firm and diligent management, execution, and accountability.
The process requires an enormous amount of planning, focus, and execution on the part of the moving partner and the acquiring firm’s management. Bantam can help with this as well.
Bantam’s Attorney Services
You can also contact Bantam Inc. CEO Jack Duval at 845.605.1007 or firstname.lastname@example.org
Bantam is a registered investment advisory firm focused on financial strategy, risk management, and due diligence for individual investors. The firm serves attorneys and ultra-high net worth investors.
To find out more about Bantam, please visit our website.
Company Name: Bantam Inc.
Contact Person: Jack Duval
Email: Send Email
Address:107 East Meadowbrook Lane
State: NY 12580
Country: United States