financial planning for law firms
Financial Planning for Law Firms
5 Trends Law Firms Face that May Impact Your Business
- Cybersecurity: Many law firms still have outdated cybersecurity systems which make them highly susceptible. Protecting client records and data is becoming an increasing concern.
- Technology adoption: The legal industry has been slow to adopt new technology. The large number of options such as AI, workflow automation and file management can overwhelm a firm.
- Rate pressure & Competition: Clients expect more from law firms as Do It Yourself (DIY) legal services have become cheaper setting unreasonable expectations regarding pricing. Alternative Legal Service Providers (ALSPs) offer different options to complete work and have become competition to not only internal staff but to smaller law firms who have assisted with tasks ALSPs now provide.
- Talent: War for talent, hybrid work environments, providing remote work options, salary pressures and workload have become issues law firms face when managing talent.
- Operational Efficiency: Law firms are seeking new ways to becoming more efficient in the areas of managing support staff and improving financial practices, including billing and collections.
Law firms many challenges regarding income and new spend allocation. Our clients look at the long term and have a financial plan built to protect and preserve their wealth. When our clients face business obstacles or industry turmoil happens they have a long-term strategy for retirement.
4 Key Factors to Financial Planning

Discovery
We create strategies that are tailored to your needs and goals.

Personal Goals
Years of experience have prepared us to guide you through your life transitions.

Financial Plan
Selecting the right investments that will be the vehicle to drive you to reach your Goals, while being suited for their tolerance for volatility in the market

Monitor
Constant monitoring and updating of the plan as you make your way through your ever changing life
Try Two of Our Financial Planning Tools

Find Your Risk Number
Step 1: The first step is to answer a 5-minute questionnaire that covers topics such as portfolio size, top financial goals, and what you’re willing to risk for potential gains.
Step 2: After pinpointing your Risk Number, we’ll craft a portfolio that aligns with your personal preferences and priorities, allowing you to feel comfortable with your expected outcomes.
Step 3: We will also review your progress toward your financial goals by building a Retirement Map.

Is Your Financial Plan Aligned with Your Goals?
When markets turn as volatile and confusing as they have in the past, even patient investors may come to question the wisdom of the investment plan they've been following. You may have come to the realization that you believed you had a good plan when in fact, you don't.
As Warren Buffet once said, “When the tide goes out, you find out who was swimming without shorts.” What we offer...A cup of coffee and a Second Opinion from a Board Certified Financial Planner (CFP®)
Branden Carney, CFP®
Wealth Planner
248-499-8721
Branden’s career in the financial industry began with Plante Moran Financial Advisors in 2016, after receiving his degree in Finance from the Eli Broad College of Business at Michigan State University. He then moved on to work...

Sales & Cigars: Building Trust with Branden Carney
Branden has appeared on the Walter Crosby Podcast Sales and Cigars. His episode is Building Trust with Branden Carney. During the podcast Branden covered:
- Building trust with your clients.
- The variables that might affect your retirement plans.
- The financial industry is all about planning.
Links to Podcast

Authority Magazine
Jason Hartman's Investing During the Pandemic Series
Excerpt from Branden's Interview:
My first piece of advice to everyone is turn off the news, especially as it relates to the financial markets. Unfortunately, there is never anything good that comes from the ongoing news cycle today. Most of the time, especially as it relates to the financial industry, they are just feeding you the next apocalypse “de jure” that is going to “take down the markets”.