The American Lawyer recently highlighted Spencer Fane in the feature article, “Spencer Fane Notches 16.5% Topline Growth as Firm Seeks Out More Markets.”
In the piece, reporter Andrew Maloney highlighted not only the firm’s double-digit revenue growth but also areas in which the firm has made gains with other crucial metrics, such as revenue per lawyer (8%), profits per equity partner (8%), and nonequity compensation (21.8%). Spencer Fane Chair Patrick J. Whalen spoke with Andrew about some of the key drivers behind the firm’s ability to maintain such progress while also spreading into new geographical markets and practice areas.
“[Our performance] was really broad-based. It’s just clients and talent, increasingly attracted to our firm,” Pat said. He also explained that the Spencer Fane business strategy is equally multifaceted.
“You can’t grow at all costs, and your strategy shouldn’t just be focused on growth,” he shared, speaking to the firm’s decision to instead centralize elevating client service and creating an exceptional environment for its industry thought leaders. “[But] it can be a good tool to unlock these opportunities that we continue to see.”
Over the past year, such opportunities have included expansion into California, Utah, and Washington, D.C. As Pat notes, this increase in scale has had benefits for businesses far beyond client reach. Fueled by overwhelmingly positive results across progressive industry initiatives, Spencer Fane plans to continue its nuanced approach, utilizing a culture-first value proposition that draws top talent and generates client satisfaction.
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