Clients are increasingly seeking specialized legal advice delivered by smaller, senior teams, especially for complex, sensitive or novel matters. That demand is contributing to the rise of elite boutique firms in advisory practice areas historically associated with larger firms.
Managing partner Sandra Cohen discussed the trend on the Jabot podcast, exploring how elite boutiques differentiate themselves through efficiency, niche focus and direct access to experienced attorneys.
Building on her background as a Wall-Street lawyer, Sandra noticed that hundreds, perhaps thousands, of U.S. business law firms operate without the sophisticated employee benefits and compensation practices that are routinely found within AmLaw 100 Firms. She believed that she could establish a boutique firm to collaborate with multiple other law firms to provide access to the same type of advice. In 2016 Sandra and Carol Buckmann co-founded Cohen & Buckmann to concentrate exclusively on transactional and advisory executive compensation and employee benefits law, advising law firms, companies, and executives nationwide on high-stakes and sophisticated matters.
The trend isn’t limited to benefits and compensation. Boutique managing partners across practice areas, including investment funds, M&A, commercial real estate, franchise law and intellectual property, are seeing similar market opportunities as clients prioritize specialization, agility and results.
Sandra also discussed what it takes to build and sustain a high-performing boutique, including hiring, collaborating with other firms, building professional relationships with intention and effectively communicating what makes your firm distinct.
Listen to the episode: https://podcasts.apple.com/us/podcast/an-inside-look-at-the-law-firms-law-firm/id1386838312?i=1000742298973