Top Dogs in 2009
Oct 23rd, 2009 | By Scott Trost | Category: Lead Stories, featured articlesSomeone asked me for a list of firms whose growth is worthy of study. I’m sure I’ve missed a few but here is what I came up with on a first pass. Let me know who you think should be added.
I included some comments. Although some of the comments may be unfavorable, make no mistake that all of these firms are top dogs. Any flaws or weaknesses I point out shouldn’t detract from what they have accomplished and will accomplish in the future. (Writer’s note – It’s a delicate balance between good manners and writing something that serves as more than just a fluff piece. If I have offended or mischaracterized anyone, my apologies in advance.)
You’ll also note that the two firms at the top of the list are from Australia. These firms have gone public and the heat is on to bring their resources and expertise to this country. I can guarantee you that some of the finest minds in the plaintiffs’ bar are working overtime to figure a way through or around the bar prohibitions against non-attorney ownership of law firms. I know. I’ve talked to them.
Practice saying the name – Slater & Gordon. It may be on your business card someday.
National Firms
Slater & Gordon (Australia)
- Went public two years ago. Reported to have raised over $35 million in a day on IPO. (A large amount in terms of population.) Has bought up several other firms to establish national footprint and engaged in branding marketing campaign. Biggest question mark is which country they will pick to expand into next.
Integrated Legal Holdings (Australia)
- 2nd firm in Australia to go public. Different business model – micro-branding. Looks like distant 2nd at this point.
- Boston based. Largest national advertiser for many years. Nielsen reports $20 million a year in national advertising (probably overestimated). Has recently de-emphasized consumer branding in favor of branding & PR efforts within the bar. Could be part of “going public” strategy where perception within the bar will be key. Cleverly disguised advertising agency that also operates as a law firm (this allows it to collect fees on much more profitable back end while establishing its brand). Sokolove has been one step ahead of everyone else for years.
- In last year has upped national advertising to Sokolove levels. Niche practice – Social Security Disability. Could be called the Sokolove of Social Security Disability law.
- New York personal injury firm that engages in heavy mass tort national advertising. Also moving into other New York markets, like Syracuse.
- Phoenix firm that recently begun more aggressive national advertising (probably mass tort). Also spends at various levels in random local markets. (What are they doing in Traverse City, MI?)
- Legal forms website that began heavy national TV advertising in 2008 with Robert Shapiro as spokesperson. Not technically a law firm but aggressively up-sells legal services on its website.
Multi-Market Firms
- Biggest spender in local markets. Spending about $20 million a year in 6 markets in Florida, Georgia and Mississippi. Also owns advertising agency that markets for several firms around country. Co-founder of Mass Torts Made Perfect Conference. Rumored to own part of Cochran Firm (although that may no longer be the case). Projects image of dominant alpha male and watertight operations but data and word on the street suggest a more complex picture.
- King of Michigan by a wide margin. Covers 5 markets at very heavy TV weight. Best spokesperson on TV. The 2nd generation of his family is already in place in firm. Extremely nice guy. Only question is whether ambition extends beyond state borders. Everyone knows that, if you’ve been hurt in Michigan, you just “Call Sam.”
- Is the Sam Bernstein of Louisiana. Very dominant player. Innovator in affiliating himself with professional sports teams to build his brand.
- Has offices in 30 cities but on TV in only 8-10 and in only 3-4 cities at a competitive level. Co-founder of Mass Torts Made Perfect and the new ATLA. Well-positioned for growth but word on street that parts of “franchise” structure may be problematic.
- Ken is a dominant player in Georgia. In Atlanta, he has held his own and more against Morgan’s invasion which could prove to be ground zero in the battle for Plaintiff’s bar dominance. Ken should be thanking Daniel Newlin in Orlando for putting competitive pressure on John Morgan in his home market.
- Edgar has been quietly dominating western Pennsylvania for several years. An early innovator who has also stocked his firm with a next generation of high-end attorneys. Still waiting to see if firm makes a move into new markets.
- Adler one of few firms still standing in tort-reform ravaged Texas. Given challenges inside state, hard to imagine him moving beyond the borders but a smart marketer so you never know.
- Dangerous player in the west especially since teaming up with another savvy marketing firm. One of few firms that is experimenting with expanding beyond personal injury cases (bankruptcy and criminal).
- Savvy, visionary and aggressive player in three states – Kentucky, Tennessee & New Mexico. One of few firms to skip into non-contiguous markets. The firm runs twice a year marketing conference which allows it to leverage its experience with other firms.
- Advertising across the Carolinas. Visionary founder. Very strong brand. Positioned well for growth. Hard to imagine they will confine their ambition to just the Carolinas.
- George is advertising at very heavy levels in South Carolina. He is smart, aggressive & ambitious and a nice guy to boot. It is hard to tell where he will take his brand given how crowded this part of the country is.
- Aggressive and ambitious marketer in Kentucky. Recent foray into Indiana may suggest larger ambition.
- Advertising at off-the-chart weight in western New York State. Hard to imagine they won’t look to more markets. (LATE BREAKING NEWS! – Just as I was getting ready to publish this entry I saw that Cellino & Barnes has recently entered the Syracuse market. Whatever truce they may have had with the other big-time upstate New York firm, Alexander & Catalano, must be off. Could be fireworks, especially since Weitz & Luxenberg is testing the Syracuse market as well.)
- All over huge population state of Ohio, albeit at less than average weight. Ability to increase TV weight and growth plans beyond the borders of Ohio are two biggest question marks.
- Firm’s record advertising weight in Memphis alone makes this firm worthy of study. Its heavy presence in other markets makes it worthy of watching for its next move.
























