Case Studies
Issue No. 54 - August/September 2010
GFC a marketshare winner – Finlaysons
Adelaide legal practice, Finlaysons, had a “positive” GFC, according to CEO, Graham McGeagh, not only maintaining its existing client base but building upon it.
The decision to stick to its strategy of servicing a national client base from Adelaide enabled Finlaysons to continue advising our clients, without the large overheads associated with eastern seaboard offices. In May, Finlaysons was named Adelaide Law Firm of the Year at the ALB Australasian Law Awards in Sydney, a repeat of the same honour in 2007.
“I believe we demonstrated an understanding of the GFC’s impact on our clients and, along with finding cost-effective ways to value-add during this period, we did not pass on any fee increases,” Graham says. “This was widely appreciated and I am pleased with the outcomes.”
Finlaysons did not cut its intake of graduate lawyers maintained its summer clerk program.
“We maintained a focus on the future, realising we needed to continue securing high quality graduates to ensure we were positioned strongly for the years ahead,” Graham says.
“That said, the firm continued to focus on growth, was vigilant about managing its expenditure and had contingency plans in place to address any significant issues that may have arisen.
“The strategy the firm had in place, coupled with the strong reputation Finlaysons enjoys, ensured we did not need to action those contingency plans.
“Securing the Adelaide Law Firm of the Year Award was particularly satisfying, as it reinforced the fact that the strategic direction we have taken is correct.”
“We are certainly very satisfied with the range of work we are currently securing from around the country. We see this as an increasing area of growth.
“During the GFC, many national firms suffered as many clients became more conscious of costs. In relation to legal spend (according to revenue statistics released by FMRC), there was minimal growth for many ...
