Downtown Miami. Credit: Ryan Tishken/Adobe Stock A Real Estate Slowdown Depressed the Growth of Florida Law Firm Revenue, But an M&A Pickup Might Push It Up
"It was a more average type performance for the Florida-based firms this past year. They came off a really strong 2022, where they outperformed quite dramatically," Owen Burman, a Wells Fargo senior consultant, said.
February 01, 2024 at 06:05 PM
3 minute read
Business of Law
What You Need to Know
- Because Florida law firms play heavily into real estate, a slowdown in that sector helped bring revenue to more average numbers.
- Expenses have also kept climbing as law firms continue to scramble for talent.
- Although figures came in more average for Florida law firms last year, an expected pickup in deal work could give the region a boost.
After seeing record revenue growth for some time, Florida-based firms saw more average revenue growth at the end of 2023 as a dimming real estate market helped drag those figures down.
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