Page 97 - The Handbook - Legal and Accounting Networks 81
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Law and Accounting Networks and Associations
resources. Because the multidisciplinary network can expand within different states and countries, the number
of members can be much greater than any of the single profession networks. This means a larger budget for
marketing. The multidisciplinary approach also contains efficiencies since the network overhead is shared. The
result can be an established brand.
Multidisciplinary networks also have the most growth potential. The larger law firm networks are now
complete with firms representing most locations where business is being conducted. The accounting networks
are also essentially complete. If one looks at the overlap in services, the accounting companies now have very
few legal contacts within their own offices, so they must reach out to law firms.402 Law firms do not provide
the services that accounting organizations do. These are synergistic opportunities.
There are challenges for multidisciplinary networks because the members are from two or more professions.
In the case of accountants and lawyers, their approaches to practice and thus to a network may be very different.
While both are analytical, lawyers tend to search out problems that they can then resolve, spending as much
time and money as necessary.403 Accountants may work toward numerical results rather than taking into
consideration the intangible aspects of a transaction or personal relationship. Lawyers are prone to attend a
significant number of meetings of associations at which they spend a lot of money. Accountants generally do
not attend as many functions. Law firms have offices in the center of the city. Accountants have offices in the
suburbs because having an office downtown would be unnecessary. The experience of accountants in networks
is bottom-line cost versus benefit. Lawyers view network participation broadly because of the number of
practice areas and the social element of the network. Accounting networks have fixed objectives that are
defined by the profession itself. Legal networks have objectives that are defined more by the clients because
law firms are not regulated.
Predictions:
1. The networks will focus on industries rather than practices (like law firms) or on categories of
services (like accounting firms). This will allow the members to interact in many new ways to serve
clients and develop business.
2. The networks will use technology to tap the expertise of the multidisciplinary members. This will
add a new dimension to network.
3. Multidisciplinary networks will allow clients to join the network, since the network neither practices
law nor provides accounting services. The clients will be able to develop their own networks using
members of the network.
4. The networks will expand to other professions once the infrastructure is fully in place, taking full
use of the network model.
Specialty Boutique Networks
In today’s world of the Internet, the specialty groups have their greatest potential. This can be seen by the fact
that there are now more than 30 networks. They are able to bring together hundreds of individual practitioners
or boutique practices into a single network. Combining medium-size firms in the network and extending
402 Accountants with law degrees represent only 1 percent of all CPA. What this means is that accountants and attorneys do not have contacts with each
other in professional associations. About Us. AICPA, www.aicpa.org/About/Pages/About.aspx.
403 Harrison Barnes, Avoid the Lawyer Mentality, HARRISON BARNES BLOG (Oct. 26, 2015), www.hb.org/avoid-the-lawyer-mentality/; see also
Michael Melcher, Why Thinking Like a Lawyer is Bad for Your Career, ABA J. (April 15, 2009),
www.abajournal.com/news/article/why_thinking_like_a_lawyer_is_bad_for_your_career.
85
resources. Because the multidisciplinary network can expand within different states and countries, the number
of members can be much greater than any of the single profession networks. This means a larger budget for
marketing. The multidisciplinary approach also contains efficiencies since the network overhead is shared. The
result can be an established brand.
Multidisciplinary networks also have the most growth potential. The larger law firm networks are now
complete with firms representing most locations where business is being conducted. The accounting networks
are also essentially complete. If one looks at the overlap in services, the accounting companies now have very
few legal contacts within their own offices, so they must reach out to law firms.402 Law firms do not provide
the services that accounting organizations do. These are synergistic opportunities.
There are challenges for multidisciplinary networks because the members are from two or more professions.
In the case of accountants and lawyers, their approaches to practice and thus to a network may be very different.
While both are analytical, lawyers tend to search out problems that they can then resolve, spending as much
time and money as necessary.403 Accountants may work toward numerical results rather than taking into
consideration the intangible aspects of a transaction or personal relationship. Lawyers are prone to attend a
significant number of meetings of associations at which they spend a lot of money. Accountants generally do
not attend as many functions. Law firms have offices in the center of the city. Accountants have offices in the
suburbs because having an office downtown would be unnecessary. The experience of accountants in networks
is bottom-line cost versus benefit. Lawyers view network participation broadly because of the number of
practice areas and the social element of the network. Accounting networks have fixed objectives that are
defined by the profession itself. Legal networks have objectives that are defined more by the clients because
law firms are not regulated.
Predictions:
1. The networks will focus on industries rather than practices (like law firms) or on categories of
services (like accounting firms). This will allow the members to interact in many new ways to serve
clients and develop business.
2. The networks will use technology to tap the expertise of the multidisciplinary members. This will
add a new dimension to network.
3. Multidisciplinary networks will allow clients to join the network, since the network neither practices
law nor provides accounting services. The clients will be able to develop their own networks using
members of the network.
4. The networks will expand to other professions once the infrastructure is fully in place, taking full
use of the network model.
Specialty Boutique Networks
In today’s world of the Internet, the specialty groups have their greatest potential. This can be seen by the fact
that there are now more than 30 networks. They are able to bring together hundreds of individual practitioners
or boutique practices into a single network. Combining medium-size firms in the network and extending
402 Accountants with law degrees represent only 1 percent of all CPA. What this means is that accountants and attorneys do not have contacts with each
other in professional associations. About Us. AICPA, www.aicpa.org/About/Pages/About.aspx.
403 Harrison Barnes, Avoid the Lawyer Mentality, HARRISON BARNES BLOG (Oct. 26, 2015), www.hb.org/avoid-the-lawyer-mentality/; see also
Michael Melcher, Why Thinking Like a Lawyer is Bad for Your Career, ABA J. (April 15, 2009),
www.abajournal.com/news/article/why_thinking_like_a_lawyer_is_bad_for_your_career.
85
