Law Firms Urged to Be Cautious Despite Robust 2020 Forecast (1)

The year 2020 is predicted to be robust for law firms with healthy revenue growth, but Citi Private Bank is still cautioning law firms in its latest report on the industry to prepare for more uncertainty ahead.

The report from the bank’s Law Firm Group and Hildebrandt Consulting said revenue growth will rise between 5.5% and 6% for 2020, which would match growth in 2019. It does not predict that a recession will hit this coming year, though that’s not a universally shared viewpoint across the legal industry.

“It’s really important that the fundamentals are sound,” said Gretta Rusanow, head ...