Spencer Fane is proud to be recognized as one of the top five firms in its cohort by Bloomberg Law’s inaugural 2025 Leading Law Firms report. The ranking is especially meaningful given the way in which Bloomberg sets a new standard for measuring law firm value – one that goes far beyond traditional financial metrics in search of “what makes a best-in-class law firm in 2025.”
Unlike rankings that focus solely on revenue or headcount, Bloomberg’s Leading Law Firm report measures firms based on their strength in four critical areas of value: talent, growth, business innovation, and financial strength. The approach reflects the evolving definition of success in the legal industry. As the report notes, “a leading law firm is defined by a combination of agility, innovation, creativity, and strategic growth, rather than just money.”
In the report, Spencer Fane ranked fifth overall in the nation among a cohort of firms with up to $500 million in revenue. Additionally, the firm ranked first in growth among the same cohort and second in terms of both talent and innovation.
Bloomberg Law’s analysis recognizes that the most successful firms are those that invest in their people, embrace technological change, and plan strategically for the future. In today’s rapidly changing legal landscape, these qualities are the true markers of a best-in-class law firm.
“Leading Law Firms starts from the idea that what a successful firm looks like today is very different than what a successful firm looked like 25 years ago,” Bloomberg reported. “And as the legal world continues to change, we expect the metrics that measure winners will change as well.”
Spencer Fane earned its place on the ranking as a result of its strategic decision to embrace an entirely new internal organizational structure that abandons the traditional top-down hierarchical structure of a law firm for a design intended to nurture a culture of empowerment, autonomy, and accountability.
In addition to innovating the way in which it manages its business, Spencer Fane has also been recognized by The American Lawyer as the fastest-growing law firm in the nation, while U.S. News & Report recognized Spencer Fane as the only firm on its Best Companies to Work For: Law Firms list to earn perfect scores on all six of its dimensions driving the success of talent in the profession.
“The credit for these remarkable recognitions belongs entirely to the professionals of our firm, whose unwavering commitment to our core values and dedication to nurturing our unique culture set us apart,” Spencer Fane Chair Patrick J. Whalen said. “While we are keenly focused on constantly improving in each of these areas, we are truly humbled to be recognized among our peers for the unique value our firm has demonstrated in its approach to serving clients.”
Read the full survey results here. Please note, a subscription may be required.