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Law Firm Financial Index

Q4 2022 Thomson Reuters Law Firm Financial Index: Top Five Takeaways

Law firm profitability fell for a fifth consecutive quarter in Q4 2022, according to the Q4 2022 Thomson Reuters Law Firm Financial Index, (LFFI) powered by Financial Insights. The report notes that demand, productivity, and expense challenges “have nearly eaten through the record profit gains of 2021” as firms contend with multiple ongoing issues. However, …

  • February 14, 2023
  • Carrie Brooker

State of the Legal Market Report: Predicting the Factors That Will Shape 2023

Ahead of the 2023 Report on the State of the Legal Market – the annual report issued jointly by the Center on Ethics and the Legal Profession at Georgetown Law and the Thomson Reuters Institute – Legal Current is looking back at the trends that shaped the industry in 2022. The 2023 report, which Thomson …

  • January 3, 2023
  • Carrie Brooker

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 …

  • December 14, 2022
  • Carrie Brooker

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 …

  • August 11, 2022
  • Carrie Brooker

Fourth Consecutive Quarter of Decline for Thomson Reuters Law Firm Financial Index

Law firm profitability continues to slide due to an inevitable cooling off in demand and a rebound in expenses, according to findings of the Q2 2022 Law Firm Financial Index, released today by Thomson Reuters. Powered by Peer Monitor/Financial Insights, the index fell for a fourth consecutive quarter – the longest such slide in its …

  • August 8, 2022
  • Carrie Brooker

Thomson Reuters Law Firm Financial Index Q1 2022: Three Takeaways

Law firms will be challenged to surpass the high bar set in 2021, according to findings of the Q1 2022 Law Firm Financial Index, released today by Thomson Reuters. The index, powered by Peer Monitor/Financial Insights, showed law firm growth in demand and rates were no match for surging expenses. Legal Current shares top takeaways …

  • May 9, 2022
  • Carrie Brooker

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Press Releases

Anti-Money Laundering Compliance Leaders Addressing New Requirements with Technology, Staff
MINNEAPOLIS-ST. PAUL, October 24, 2018 – The commencement of anti-money laundering (AML) requirements for financial institutions issued in May 2018 has caused increasing numbers of firms to shift their... Read more ...
Oct 24, 2018
Thomson Reuters Unveils New Legal Research Platform with Advanced AI: Westlaw Edge
MINNEAPOLIS-ST. PAUL, July 12, 2018 – Thomson Reuters today introduced Westlaw Edge, the latest advancement in legal research, providing legal professionals with the next generation of AI-driven legal search,... Read more ...
Jul 12, 2018
Thomson Reuters Legal Tracker LDO Index Notes Budget Squeeze, Prioritization of Cost Controls and Technology
Report details focus on legal operations, workload increase EAGAN, Minn. June 25, 2018 – For many corporate legal departments, budgets are not keeping up with the growing volume of... Read more ...
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