Law firms didn’t get a hoped-for transactional rebound to end 2023. But they did see acceleration on the demand and revenue front, a strong collections push and billing rates that continued to climb to new heights, according to results from a Wells Fargo survey.
Additionally, as opposed to last year, many in the industry believe they have their staffing levels calibrated to capture an upswing in work and they’re optimistic that countercyclical practices will stay hot while also getting that much-anticipated transactional pickup.
