Partner Considerations: Making a Lateral Move to a New Firm

When a law firm partner is considering moving to a new firm, there are several important considerations to keep in mind. Here are some of the most significant factors that partners should consider:

1. Practice areas: Make sure the new firm has a strong reputation and established client base in the areas of law that you practice. This will help you maintain your current level of business and continue to grow your practice.

2. Culture: Consider the cultural fit between you and the new firm. Are the values, work environment, and professional goals aligned with your own?

3. Compensation structure: Make sure you understand the compensation structure at the new firm, including how partners are compensated, what the earning potential is, and what the long-term financial outlook is for the firm.

4. Support resources: Consider the level of support and resources that the new firm offers to partners, such as technology, marketing, and administrative support.

5. Growth opportunities: Look for a firm that provides opportunities for growth and advancement, both in terms of your professional development and your ability to build your practice.

6. Colleagues and professional network: Consider the quality and reputation of the partners and associates at the new firm, and whether you will have opportunities to build strong professional relationships and expand your network.

7. Geographical location: Consider the location of the new firm and whether it is convenient and accessible for you and your clients.

By considering these factors and conducting thorough due diligence, a partner can make an informed decision about whether a new firm is the right fit for their professional and personal goals.