Addleshaw Goddard announced this week that it would be launching a management consultancy wing to share the secrets of its, err, mediocrity.
The new business will offer advice on mergers, equity restructuring and strategic decisions to both law firms and other professional services firms. Given that AG's turnover fell by 11% and PEP crashed from £586,000 to £405,000 last year, it's hard to see why other firms will rush to the advice. Seminars on how to get by when your drawings fall by a third overnight, perhaps?
Managing Partner Mark Jones is heading up the scheme. He says the consultancy will target law firms below the top 20 as potential clients, and that it will offer either hourly rates or a retainer.
Hats off to Jones for bare faced chutzpah, but whether the plan amounts to anything more than massive optimism remains to be seen.
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The new business will offer advice on mergers, equity restructuring and strategic decisions to both law firms and other professional services firms. Given that AG's turnover fell by 11% and PEP crashed from £586,000 to £405,000 last year, it's hard to see why other firms will rush to the advice. Seminars on how to get by when your drawings fall by a third overnight, perhaps?
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Lesson one: How to work out whether you can still afford your mortgage |
Managing Partner Mark Jones is heading up the scheme. He says the consultancy will target law firms below the top 20 as potential clients, and that it will offer either hourly rates or a retainer.
Hats off to Jones for bare faced chutzpah, but whether the plan amounts to anything more than massive optimism remains to be seen.
?