Bloomberg Law
Feb. 3, 2020, 7:57 PM

Law Firm Revenue Growth Expected to Dip in 2020, Report Says

Roy Strom
Roy Strom

Revenue at U.S. law firms grew 4.6% in 2019, and law firm management expects that figure will dip to 4.4% for full-year 2020, according to a report released by Wells Fargo Private Bank.

Net income for the 150 law firms Wells Fargo surveyed was up 3.9% from the prior year and demand grew 1.4%, the Wells Fargo report said Monday.

The 2019 results faced a difficult comparison from 2018, when law firms turned in a decade-best performance and saw revenue grow nearly 6% and net income surge 7.6%.

“The industry successfully overcame headwinds including the government shut-down, geopolitical conflicts, and ...

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