Law firms in the southeastern United States, including in Florida and Georgia, are seeing expenses grow faster than revenues—a trend that is shaving down profit margins, according to a survey by Citi Private Bank’s Law Firm Group.

The survey saw participation from 190 law firms of varying size—44 Am Law 50 firms, 35 Am Law 51-100 firms, 51 Am Law Second Hundred firms and 60 others— a group that includes boutique and niche firms. Figures for the southeast region were drawn from a sample of 22 firms on the east coast bounded by Virginia to the north and excluding Washington D.C.

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