He predicts the market «will now be dominated by the big firms with
a few niche firms filling the gaps».
Not exact matches
ONE of Perth's newest, and smallest, law
firms is working with some of the world's biggest companies, capitalising on a
niche area in which
few other businesses in the Asia Pacific region have experti
Silver Lake specializes in such areas, but
few other
firms are as comfortable in the
niche.
At the moment, an array of
firms is competing for different market
niches, but Coleman predicts a thinning - out as a
few production techniques dominate.
While there will still always be a
niche for active management with a proven track record or strategies that an ETF can't employ (which are
few), as outflows continue, the cost structure of many of the largest mutual funds will become less attractive and
firms will have to either continue to run them as loss leaders, increase add spending — or actually outperform benchmarks, which decades of research has shown to be very difficult.
In Canada, however, the direct market is still a
niche, with only RBC Phillips, Hager & North and a
few other small
firms (including Steadyhand) taking it seriously.
Here are a
few great reasons why solo practitioners and small law
firms need to have a more
niche focus to succeed in the modern legal industry, and some growing legal
niches for lawyers to consider.
If you're a personal injury lawyer, you would have to build a massive following to generate regular business from the social web — unless you're a
niche injury lawyer that specializes in truck accidents, motorcycle accidents or birth injuries (just a
few examples), because your target market could actually be other lawyers who want to refer cases to your law
firm.
The paper notes that private - practice lawyers will increasingly be entrepreneurs and some will continue with solo practices, although with much more specialized
niches, while
firms will be smaller with
fewer permanent lawyers and staff occupying less square footage, and offices will be reserved only for the most influential partners.
The aging bar, the huge numbers of young lawyers joining the bar,
fewer partners in big
firms, more
niche work in boutique
firms, alternative fee arrangements, a changing economy, client pushback — all of these are disruptive forces.
Webuild is one of the
few resune writing
firms in the country with a strong foundation of knowledge about your specific industry
niche and professional discipline.