Elephants in the Room Part II
Over the past decade the Big Four, as the largest accounting firms have come to be known, have expanded aggressively into the legal market. Today, their legal arms are as large, at least in lawyer terms, as many of the biggest law firms in the world. As documented in an accompanying paper by ALM Intelligence, Elephants in the Room Part I: The Big Four’s Expansion in the Legal Services Market, the Big Four have penetrated many lower and mid-value areas of the legal market. In some areas the Big Four have even eclipsed law firms as the primary provider of legal services.
This second part looks at the current state of the Big Four in today’s global legal market. Accounting firms have learned valuable lessons from their prior misadventures in the legal industry. They are approaching expansion more cautiously and are using more sophisticated business models that combine traditional aspects of legal services delivery with newer methods. This strategy, combined the Big Four’s relationships with large clients, have allowed the Big Four to penetrate many areas of the legal industry and, once again, rival the largest law firms in the world.uture.
Table of Contents
- About the Authors
- Scenario One: Deepen Focus on Legal Services with an Accounting or Consulting Overlap
- Scenario Two: Develop A Full Service Legal Offering
- Scenario Three: The Managed Services Model
- Survey Results
- Research Methodology