"Change Your Fate: How to Avoid a Future of Financial Ruin," Managing Partner Magazine
Michael H. Trotter, member of Taylor English and author of “Declining Prospects: How Extraordinary Competition and Compensation Are Changing America's Major Law Firms,” was featured in the September issue of Managing Partner Magazine. As author of the article “Change your fate: How to avoid a future of financial ruin,” Mr. Trotter discusses the changes to America’s law firm growth strategy and partner obligations that safeguard firms against financial failure. He states that financial instability in the legal industry has occurred because there are not enough high-paying legal business available to law firms to produce the compensation that so many partners at major law firms now expect. Consequently, to improve their financial performance, many firms have decided to grow the size and scope of their practices by employing, or bringing into their partnerships, lawyers with established books of business and by opening offices in new locations. For more information on how competition and compensation are changing the legal industry, please contact Mr. Trotter at firstname.lastname@example.org.