Financial Benchmarking Service

The ability to compare the financial performance of your law firm with that of other firms within the Legal Sector, particularly against best practice within the sector, is a powerful and valuable tool that allows Armstrong Watson to improve the financial results of your business.

Armstrong Watson maintains a financial benchmarking database for the Legal Sector. All of the data we hold is anonymous and is drawn from accountancy firms throughout the UK.

Our database allows us to produce bespoke reports for individual clients. Each report analyses the key performance indicators for that particular firm over a number of years and also compares those key performance indicators to the averages and best practice within the Legal Sector.

The result is a report with recommendations that enables your law firm to improve its financial performance.

Contact our Legal Sector Partner, Andy Poole, on 07828 857830 or andy.poole@armstrongwatson.co.uk to discuss how we can help you.

What is it?

A benchmarking service that compares your law firm's financial performance against that of other firms in the same industry and against best practice for the Legal Sector.

Who is it for?

This service will benefit all law firms of any size in all locations.

What are the benefits for your firm?

You will clearly identify specific areas of opportunity
You will prioritise improvement opportunities
You will set performance expectations
You will monitor your performance & manage change

What do I have to do?

You will need to provide financial information for analysis. Pre-agreed partners and staff will need to attend the delivery of your report.

What are the deliverables?

A bespoke report interrogating your law firm's financial performance. A meeting to deliver and review the report and discuss implementation of our recommendations.

What is the cost?

Free added value service to our core accountancy clients. The payment in advance fixed fee is £1,430 plus VAT and disbursements for law firms of up to 15 partners. Bespoke costs agreed for larger firms.

How long will it take?

Two weeks from the date that we receive the required financial data.

Our experience

Armstrong Watson provide benchmarking for over 50 law firms from sole practitioners to 100+ partner firms. We also facilitate numerous interactive benchmarking workshops.