Page 56 - The Handbook - Legal and Accounting Networks 81
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Law and Accounting Networks and Associations
Level 2 networks’ annual meetings are larger and may take place over more than one day. Because the networks
are organized around a very small support staff, the meetings are usually held at the offices of one of the
members. The subjects covered are typically specific topics dealing with the particular profession. There may
be a registration fee to cover some of the costs.
Several hundred participants may attend a Level 3 network annual meeting in hotels or convention centers.
There is always a registration fee. The meeting may cost several hundred thousands of dollars. While the
meeting panels cover topics of interest in the profession, annual meeting sessions may include more general
subjects of interests such as the economy, politics, technology, etc.
Regional meetings are common in Level 2 and Level 3 networks. The purpose of the regional meetings varies
from network to network. In some networks the purpose is to introduce and develop regional relationships. In
others, an additional purpose is to bring all members who have an interest in the region together irrespective
of whether they are actually part of the network.
In the case of a meeting limited to the regional members, it may have more of an organizational focus. The
subjects discussed are the interests in the local region as distinguished from other areas, and how the members
can collaborate, refer business, and exchange information.
Practice groups are commonly found in Level 2 and 3 networks.242 The objective is to address the needs of
specific individuals for developing relationships. They may have independent meetings or ones held in
conjunction with the annual meeting. Practice groups may also invite clients to attend, thus using them as a
marketing tool.243 By building on these interests, the entire network is strengthened.
Not all of the time is devoted to the network itself. The network can bring together panels on subjects or
speakers to address the issues of the day, practice area issues, or issues in management of professional firms.
In professional services networks, particularly at Levels 2 and 3, the attendees are professionals involved in
the management of the firm. Panelists of members are also useful in discussing best practices. The panels can
save firms considerable money for those who are trying some new technology.
Paid speakers are rare in networks because of the number of experts who have an interest in getting in front of
the network members. They may be management consultants, vendors, management from other networks, etc.
Some will cover their own costs; others expect reimbursement. It is important that any reimbursement be
specified in the engagement letter so there is no confusion.
Large networks can leverage the relationships their members may have in other networks. Meetings of
professional associations like the American Bar Association, AICPA, IFA, and many others occur throughout
the year. The networks can host events at these other meetings where network members will already be in
attendance.244 Large networks have members attending many other events throughout the year. Many of those
professionals do not know one another because they practice in the offices of different members. A network
can tie an event to the other meeting. In this way, professionals have the opportunity to meet other professionals
who are in the network.
242 INTERLAW, supra note 161.
243 ALFA International, Staying Ahead of the Curve: Practical Guidance, Updates, and Strategies for Insurance Professionals, ALFA INTERNATIONAL
(2013), www.alfainternational.com/filebin/events/2013_Insurance_Brochure.pdf.
244 See supra TERRALEX, note 240.
44
Level 2 networks’ annual meetings are larger and may take place over more than one day. Because the networks
are organized around a very small support staff, the meetings are usually held at the offices of one of the
members. The subjects covered are typically specific topics dealing with the particular profession. There may
be a registration fee to cover some of the costs.
Several hundred participants may attend a Level 3 network annual meeting in hotels or convention centers.
There is always a registration fee. The meeting may cost several hundred thousands of dollars. While the
meeting panels cover topics of interest in the profession, annual meeting sessions may include more general
subjects of interests such as the economy, politics, technology, etc.
Regional meetings are common in Level 2 and Level 3 networks. The purpose of the regional meetings varies
from network to network. In some networks the purpose is to introduce and develop regional relationships. In
others, an additional purpose is to bring all members who have an interest in the region together irrespective
of whether they are actually part of the network.
In the case of a meeting limited to the regional members, it may have more of an organizational focus. The
subjects discussed are the interests in the local region as distinguished from other areas, and how the members
can collaborate, refer business, and exchange information.
Practice groups are commonly found in Level 2 and 3 networks.242 The objective is to address the needs of
specific individuals for developing relationships. They may have independent meetings or ones held in
conjunction with the annual meeting. Practice groups may also invite clients to attend, thus using them as a
marketing tool.243 By building on these interests, the entire network is strengthened.
Not all of the time is devoted to the network itself. The network can bring together panels on subjects or
speakers to address the issues of the day, practice area issues, or issues in management of professional firms.
In professional services networks, particularly at Levels 2 and 3, the attendees are professionals involved in
the management of the firm. Panelists of members are also useful in discussing best practices. The panels can
save firms considerable money for those who are trying some new technology.
Paid speakers are rare in networks because of the number of experts who have an interest in getting in front of
the network members. They may be management consultants, vendors, management from other networks, etc.
Some will cover their own costs; others expect reimbursement. It is important that any reimbursement be
specified in the engagement letter so there is no confusion.
Large networks can leverage the relationships their members may have in other networks. Meetings of
professional associations like the American Bar Association, AICPA, IFA, and many others occur throughout
the year. The networks can host events at these other meetings where network members will already be in
attendance.244 Large networks have members attending many other events throughout the year. Many of those
professionals do not know one another because they practice in the offices of different members. A network
can tie an event to the other meeting. In this way, professionals have the opportunity to meet other professionals
who are in the network.
242 INTERLAW, supra note 161.
243 ALFA International, Staying Ahead of the Curve: Practical Guidance, Updates, and Strategies for Insurance Professionals, ALFA INTERNATIONAL
(2013), www.alfainternational.com/filebin/events/2013_Insurance_Brochure.pdf.
244 See supra TERRALEX, note 240.
44
