PHILADELPHIA, April 28, 2016: Morgan Lewis has been ranked as a top law firm in developing and delivering alternative fee arrangements, according to a new report released today by BTI Consulting Group that was based on responses from corporate counsel.
The BTI report listed Morgan Lewis among 22 firms that in-house counsel, without prompting, cited as the best at making these fee arrangements—a category that includes fixed fees, capped fees, and other alternatives to traditional billing—successful in controlling costs. The recognition places Morgan Lewis among an elite group within the 650 core firms serving large and Fortune 1000 clients.
“Our firm has been an innovator for many years in developing alternative fee programs, which provide great opportunities for us to partner with our clients,” said Firm Chair Jami McKeon. “Offering predictability and improved efficiency in the delivery of legal services is something that clients have told us is important to them, and our inclusion in BTI’s report on alternative fee arrangements is a clear reflection of that reality.”
The report, “BTI: State of Alternative Fee Arrangements 2016,” said alternative fee arrangements accounted for $21.1 billion in outside counsel spending in 2015, up from $13.1 billion just two years earlier. Primary factors in prompting companies to embrace alternative fee arrangements were improved client focus, budget predictability, a streamlined approach to the work, and cost savings.
BTI, a leading provider of strategic market research to law firms and professional services firms, has consistently identified Morgan Lewis and its lawyers as providers of exceptional client service. Last month, for the fifth consecutive year, BTI recognized Morgan Lewis in its Brand Elite, which highlights the performance of the top global law firms in client service, innovation, recruitment, and pricing. BTI also recently placed Morgan Lewis on its select list of “Client Service All-Stars,” which included five Morgan Lewis partners. Morgan Lewis took the number five spot in the 2016 Client Service A-Team report issued by BTI at the end last year, one of only three firms to have earned a place on the prestigious list for each of the last 15 years.