“While overhead expenses continued to cool during the first part of 2024, tech spending remains especially hot,” Andrew Maloney noted in Law.com’s coverage of the Q1 2024 Thomson Reuters Law Firm Financial Index. “Taking inflation into account, law firms are investing in technology at their most rapid pace since at least 2014, the report noted. …
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Andrew Maloney
2022 Highlights: Law Firm Financial Index Reports Highlight Trends in Law Firm Profitability
Legal Current’s year-in-review series looks back at 2022 milestones for the Legal Professionals business. Today we revisit the quarterly Law Firm Financial Index (LFFI) reports from the Thomson Reuters Institute. LFFI is a composite index of law firm market performance using real-time data drawn from major law firms in the United States and key international …
Thomson Reuters Law Firm Financial Index: Technology Shines as a Growth Area
Despite gloomy headlines about the Thomson Reuters Q2 2022 Law Firm Financial Index, released earlier this week, the report findings saw “[a]reas of growth shine through,” including technology spending, as the Thomson Reuters Institute and others noted. The tech spending uptick was highlighted in Reuters Legal by reporter Karen Sloan: “Technology spending was also up …
Reactions to the 2022 Report on the State of the Legal Market
Last week, Legal Current shared the five key takeaways from the 2022 Report on the State of the Legal Market, which explored why law firms can’t just keep throwing money at the growing talent war. Today, we highlight takes from journalists, bloggers and industry influencers on the report findings. Many focused on the industry’s retention …
2021 Highlights: Report on the State of the Legal Market
As the 2021 clock ticks down, Legal Current is looking back at the milestones and key accomplishments from the Legal Professionals business of Thomson Reuters. Today we revisit findings of the 2021 Report on the State of the Legal Market, which showed this year may have been a “tipping point” that accelerated significant changes in …
2021 Highlights: Can Law Firms Retain Talent in a Cooling Legal Market?
With the year winding down, Legal Current is looking back at the milestones and key accomplishments from the Legal Professionals business of Thomson Reuters. Today we highlight a recent episode of Law.com’s Legal Speak podcast that featured ALM Business of Law Reporter Andrew Maloney talking with Bill Josten, manager of enterprise content for Thomson Reuters. …
2021 Highlights: Law Firm Talents Wars
As 2021 winds down, Legal Current is looking back at the milestones and key accomplishments from the Legal Professionals business of Thomson Reuters. Today we look at three recent thought-leadership reports that provided insights into how law firms are handling the rising competition for talent: the 2021 Law Firm Business Leaders Report, the Q3 2021 …
2021 Highlights: Peer Monitor Insights into Law Firm Performance and Recovery
As 2021 comes to a close, Legal Current is looking back at the milestones and key accomplishments from the Legal Professionals business of Thomson Reuters. Today we revisit findings of the quarterly Peer Monitor Economic Index reports through the first three quarters of 2021 and the insights they provided into how law firms are recovering …
Peer Monitor Index: Legal Industry Reaction to Record-High Rating
Last week Thomson Reuters released the Q2 2021 Peer Monitor Economic Index (PMI), a composite index of law firm market performance, with a record high of 84 points – a 22-point jump and the biggest quarterly increase in the history of Peer Monitor. The report explored the factors and trends contributing to the rating, including …
