Olmstead & Associates

Olmstead & Associates is a practice management, marketing, and technology consulting firm that works with law and other professional service firms ranging in size from 100 professionals to firms with solo practitioners. The firm, founded in 1984 and based out of St. Louis, Missouri, serves clients across the United States assisting them with implementing change and improving operational and financial performance, management, leadership, client development and marketing. Our clients benefit from our results-orientated team approach to consulting engagements where we focus on implementing change and improvements rather than simply providing advisory services. We partner with our clients and serve as a member of our clients management team and function as an advisor, coach, teacher, and facilitator. Our coaching program provides attorneys and staff with one-on-one as well as group coaching to help them get “unstuck” and move forward on initiatives, reinventing both themselves and their law practices.

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Question:  Our firm is a ten attorney boutique litigation firm located in Memphis with four partners and six associates. We are in very early discussions with another firm in town that has three partners and four associates. We believe that a merger would improve our lawyer talent base and help us grow. In our last meeting the topic of firm name was discussed and it was an unpleasant discussion and we are concerned that we…
Question:  Our firm is an insurance defense firm based in Denver, Colorado. The firm was founded in 2015 by two founding partners and we have grown to a firm of twelve attorneys – two founding equity partners, three non-equity partners and seven associates. Non-equity partners are included in firm management and the non-equity partners serve as members on the management committee. Non-equity members are compensated in the same manner as are equity partners – salary…
Question:  I am the sole owner of a litigation firm in San Antonio, Texas. In addition to myself I have two associates and three staff members. Both associates have been with the firm over five years. I am 66 and am just starting to think about my exit plan down the road. While I am not in a hurry to retire or work less I believe that I should at least be thinking about my…
Question:  I am the firm administrator of a sixteen attorney firm in Kansas City, Missouri. We, like many other firms, have done our best to face up to the challenges presented by COVID-19. For several months attorneys and staff worked remotely from home office using the internet, telephone, and video conferencing as the primary means of communications with clients and the office. To our surprise it worked fairly well but most of the attorneys were…
Question:  I am a solo practitioner in Southern Indiana. I have been practicing law for 43 years and I want to retire next year. My practice is a general practice firm although approximately 80% of my work is estate planning and estate administration. I am the only attorney in the firm and I am assisted by one paralegal that has been with the firm for twenty years. She plans on working for another ten years…
Question: I am a partner and a member of a three member management committee in a eighteen attorney firm in Chicago. During the past year we have discussed conducting an offsite long range planning retreat in the fall that would include the partners and other attorneys in the firm. We have never done this before so this would have been a new experience for us. However, with the COVID-19 crisis we have cancelled our site…
Question:  I am the owner of a six-lawyer law firm in San Diego, California. Our firm is a business litigation boutique firm. I founded and formed the firm nineteen years ago. The other attorneys are all associates of which one has been with me for over ten years, one over five years, and the other three less than two years. I am 56 and still plan on working another ten to fifteen years. However, I…
Question:  I am a member of the executive committee of a fourteen attorney firm in Houston, Texas. We have ten partners and four associates in the firm. Seven of our partners are in their sixties and we have done nothing to prepare for the succession and transition of our senior partners and have concerns whether we will be able to continue as a firm. Where and how do we start? Response: You need to begin to…
Question:  I am a sole owner of four attorney, including myself, boutique litigation law firm in Chicago. I am fifty-two and looking for a long-term succession strategy for my firm. I have been approached by a large Chicago national firm involving merging my practice with their firm. We have had several meetings and they have provided me with an initial proposal. I have spent many years building my law firm, and, by merging with a…
Question:  I am a partner in a small law firm in Northern Virginia. We are a four attorney firm with two equity partners and two associates. We are interested in acquiring a solo practitioner’s practice that is 60 years old and ready to retire. What are the issues that we should be concerned with before we spend a great deal of time on this matter? Response:  I understand your concern and reason for asking for…