Industry
Law Firms
Law firms, regardless of their size and areas of specialization, often face complex issues that demand technical knowledge, expert advice, experience and insight.
Strategic Challenges
Armanino is the only firm in the Western U.S. with a combined consulting and accounting practice that is exclusively dedicated to serving the business needs of law firms. From “bet the firm” strategic guidance, to tax compliance services that understand the specialized tax rules that apply only to law firms, Armanino’s Law Firm Services team provides best-in-class service from the boardroom to the back office.
Our approach is customized for each client; nothing is off the shelf. Whether your firm is transitioning from one generation to the next, or evaluating a software platform, Armanino has the team, the experience, and the solutions to help. Our experienced team provides a full spectrum of advisory services including:
In today’s ever more competitive legal market, many law firms face challenges in day-to-day operations that prevent them from growing or having a strategic focus on the future. These challenges are multifaceted and may include: general counsel pricing pressures, industry consolidation, commoditization of certain practice areas, retirement of rainmaking partners, cybersecurity threats, generational culture differences and partner compensation issues.
Armanino’s analytical approach offers an informed perspective to help you overcome these hurdles. We perform leadership interviews, profitability analysis and external market analysis with information gleaned from your peer firms via our law firm benchmarking survey. We examine the various aspects of your firm, including interviewing your partners, to gain a true understanding of your culture, operations and strategy.
Our specialists use this information to perform a fact-based diagnostic assessment of your unique situation. We then produce an evaluation with quantitative benchmarks for compensation, technology, rates and demographics. Our recommendations will help your firm build an improved framework to implement growth-oriented change.
Our specialists have worked with hundreds of law firms of varying sizes and needs. They provide not only an accurate report of your monthly transactions, but also analysis and keen insights to help drive further growth and profitability for your firm. And we design your solution to best meet your needs.
Our full outsourcing solution includes: subledger transaction entry, journal entries, general ledger processing, billing and e-billing, work-in-progress and accounts receivable management, financial statements, bank reconciliations, tax reporting, and fractional controller and CFO services. Or, if you prefer to keep some functions in-house, you can take advantage of our limited outsourcing solution and select from a subset of these services.
Tax & Assurance
White Paper
All partnerships should opt out of the CPAR (centralized partnership audit regime) to account for new tax rules.
Read the Free White Paper
This monthly subscription-based service is accessible 24/7 and comes at a fraction of the cost and time needed to train or add staff to perform the same analysis in-house.
We offer multiple levels of support, providing you with the financial reporting, attorney utilization, inventory review and profitability analysis that will give you a new way to visualize and analyze your firm’s data.
If you have any questions or just want to reach out to one of our experts, use the form and we'll get back to you promptly.