Finn Dixon & Herling’s Managing Partner, Chris Craig, was one of three leaders of Connecticut-based law firms who were interviewed by Law360 regarding the challenges and opportunities that lie ahead in the new year for law firms. The article focused on both internal and external factors, including how the incoming Trump administration would impact business. All three managing partners, including Craig, anticipate plenty of opportunities to help clients as they adjust to the policies of the new administration. Craig said the incoming administration will probably be less restrictive from a regulatory standpoint and believes that having the election over, regardless of who won, will create more confidence in the firm's client base in consummating deals and transactions.
When asked about growth potential in the next 12 months, Craig said the firm saw an uptick in deal activity toward the end of 2024 and thinks it will continue. Craig attributed this to changes in interest rates and inflation, and the election results no longer being uncertain. He also said that he’s feeling "bullish" about 2025 due to changes in legal costs for clients at other firms.
"The New York firms, and what I would call the large national firms, over the last few years have extraordinarily increased their rates on a much faster pace than normal and certainly outpacing inflation," Craig said. "I think that provides an opportunity for us to pick up market share in our core practice groups, including business law and litigation." The firm's team — which includes a former U.S. attorney for the District of Connecticut, prosecutors from the Southern District of New York and a former senior attorney from the U.S. Securities and Exchange Commission - allows it to compete with large New York firms for clients in the white collar space, investigatory work, and SEC compliance and regulation, according to Craig.
"We're certainly not a cheap or a bargain-basement type firm, and I don't want to suggest that, but I do think we offer a good value proposition for the clients when you look at the experience and the quality of our team," Craig said. "Overall, I'm quite bullish."
On the topics of hiring and retention, Craig said he expects a year of growth for Finn Dixon, which has recently hired a new real estate attorney and has an active search in the corporate group. Retention, according to Craig, is also a major focus for Finn Dixon. A few years ago, the firm instituted a committee focused on quality of life, with the goal of making it a meaningful experience for the attorneys to work at the firm, beyond compensation. The firm focused on mentorship and internal communications to manage employee expectations, which Craig said has worked as attrition has since been low. Other activities, including a supper club, which features small groups of attorneys led by a partner, gather a few times a year for ball games, dinner and other outings with the goal of enhancing the cohesiveness and fabric of the firm.
See the full Law360 article here.