With a mix of former Big Law partners and federal prosecutors, Stumphauzer Foslid Sloman Ross & Kolaya offers legal guidance on complex commercial litigation and white-collar criminal defense.

The Miami law firm got a makeover in March with the addition of three Greenberg Traurig partners, triggering a name change. Other Big Law experience comes from attorneys previously with Skadden Arps, Carlton Fields and Gunster.

Jeffrey Sloman, a former Miami U.S. attorney, and Ryan Stumphauzer, previously a top federal health care fraud prosecutor, highlight the federal experience. To add other levels of expertise, one of the attorneys is an accountant and another a civil engineer.

Their objective is to provide "elite and efficient representation" supported by extensive litigation experience.

In a question-and-answer format, the firm offers more insight into its operations and thinking.

Firm: Stumphauzer Foslid Sloman Ross & Kolaya

Firm leaders: Ryan Stumphauzer, Adam Foslid, Jeff Sloman, Ian Ross and Tim Kolaya, partners

Head count: Eight lawyers

Location: Miami

Practice areas: The firm is a full-service litigation boutique that focuses on complex commercial litigation and white-collar criminal defense. Our civil practice is led by former Big Law partners experienced in defending: all forms of commercial, business, real estate and corporate disputes; class action, products liability and consumer protection litigation, cross-border matters and international arbitrations. Our criminal defense practice is led by two former high-ranking federal prosecutors who focus on health care fraud, securities fraud and other white-collar criminal cases. The firm also routinely handles matters at the intersection of our civil and criminal practices, such as whistleblower-qui tam cases, internal investigations, and regulatory and enforcement actions. Additionally, we frequently provide clients with compliance advice involving, among other things, health care laws, litigation risk mitigation, consumer protection statutes, privacy and data issues, the Foreign Corrupt Practices Act and Office of Foreign Asset Control sanctions programs.

Governance structure and compensation model: The firm is governed and led by its five name partners but maintains a culture built on individual engagement and collaboration. All of our attorneys and support staff participate and have a voice in all of the firm's decisions. We want our younger attorneys to be invested in the future of the firm and part of the culture we are growing. The firm's compensation model is focused on attracting top legal talent and includes highly competitive base salaries and bonuses consistent with those offered by the Miami offices of large national and international law firms.

Do you offer alternative fee arrangements? Yes. The firm is singularly focused on delivering high-caliber legal services to our clients, without the inefficiencies, bureaucracy and inflexibility of our larger peers. We strive to work hand-in-hand with our clients to develop competitive fee structures that align the firm's interests with those of our clients. Those structures include pure contingency fee arrangements, traditional or blended hourly engagements, hybrid models that combine hourly and contingency components, and "flat" or "capped" fee agreements.

What do you view as the two biggest opportunities for your firm, and what are the two biggest threats? We believe that our experience is our biggest strength. Our partners have decades of experience in Big Law and as federal prosecutors. We've litigated bet-the-company cases at trial and on appeal in a variety of jurisdictions involving a multitude of legal issues. This experience, coupled with the efficiencies of a litigation boutique, creates a unique opportunity for us to provide elite and efficient representation to national and international clients through a lower-cost, conflict-free and relationship-focused model.

We appreciate the challenges of growing a litigation boutique in this legal environment. We know that large companies and senior officers will often look to a national law firm rather than a litigation boutique to solve their biggest problems, and we know that clients are increasingly sensitive to the costs of litigation, especially during discovery. The challenge for all law firms then becomes convincing clients that they can deliver the same quality and expertise as the biggest and best law firms in the world, while also maintaining efficiencies and managing litigation costs like a small firm. We believe our firm strikes the right balance between these competing challenges. We have significant experience in disputes of all shapes and sizes, we have expertise managing e-discovery costs in large and multinational cases, and we pride ourselves in providing accurate estimates for legal costs and in our ability to manage those costs in large and small matters.

The legal market is so competitive now—what trends do you see, and has anything, including alternative service providers, altered your approach? Is your chief competition other mid-market firms, or is your firm competing against big firms for the same work? More than ever, clients want predictability and efficiency in their representation. Increasingly, our clients expect us to provide forward-looking budgets, to consider alternative fee arrangements, and to look for opportunities for early dispute resolution in our matters. We think these trends will continue and are already finding that clients also want our advice on litigation financing options and other alternative approaches to litigation in our larger matters.

We are competing with both mid-market and big firms because, simply stated, there are a lot of great firms in Miami. On our more complex matters, we are frequently litigating alongside these firms and working collaboratively with them. Although we are competing for the same work, we take pride in our ability to collaborate effectively with co-counsel and foster relationships within the South Florida legal community.

There is much debate around how law firms can foster the next generation of legal talent. What advantages and disadvantages do midsize and small firms have in attracting and retaining young lawyers, particularly millennials? We think we only have positives to offer the next generation of attorneys interested in high-level litigation. Our clients are the same clients they would be working with at a national law firm. Our work is just as complex and diverse, and our compensation is competitive with that offered at large law firms, but with far less bureaucracy, conflicts and other developmental impediments.

We are also focused on building a culture where young attorneys are part of the processes that run our firm. Our associates have sat in on partnership meetings, they wrote our website and marketing materials with us, and they are helping us design our new offices. We are always looking for them to participate in our decisions and become more personally invested in the success of the firm. We are hiring the people that want to be a part of what we are building.

Does your firm employ any nonlawyer professionals in high-level positions (e.g. COO, business development officer, chief strategy officer, etc.)? If so, why is it advantageous to have a nonlawyer in that role? If not, have you considered hiring any? Our firm's office manager is truly a one-person C-suite. We are growing quickly and are looking for opportunities to add marketing-business development and information technology personnel as things move forward. In the meantime, we use experienced third-party professional services for the firm's administrative, marketing, information technology, and accounting functions. All of that said, we believe it is critical that our lawyers — as the ultimate stakeholders and client service-providers — take ownership over the firm's high-level business decisions and strategic direction.

What would you say is the most innovative thing your firm has done recently, whether it be technology advancements, internal operations, how you work with clients, etc.? Our innovation strategy focuses less on technological and operational innovation and more on continuously staying at the forefront of our practice areas. We spend countless hours within our respective practice areas studying litigation and enforcement trends, and analyzing the ever-changing legal, legislative and regulatory landscapes affecting our clients.

Does your firm have a succession plan in place? If so, what challenges do you face in trying to execute that plan? If you don't currently have a plan, is it an issue your firm is thinking about? Right now, the firm is singularly focused on delivering unparalleled legal services to our clients. We are, as part of that client-centric focus, committed to attracting, developing and retaining top-notch legal talent. That commitment is at the core of our who we are as a firm and will end up defining our growth strategies and succession plans.