Stinson Recognized as a Top Firm for Alternative Fee Arrangements by BTI Consulting
Clients and top legal decision makers from across the country have identified 70 of the top 600 law firms serving large and Fortune 1000 clients as the best at developing and implementing alternative fee arrangements (AFAs). Stinson LLP is ranked as an AFA Distinguished Law Firm in the report by BTI Consulting.
Firms were ranked based on a streamlined approach to AFAs, proactivity and knowledge of alternative fees by partners, visibility of the strategy and approach, communication regarding any changes to an AFA, and high-trust relationships between clients and attorneys.
"We actively promote the use of AFAs and develop them in close consultation with our clients. This helps ensure our pricing is tailored to match their matter objectives and will help reach their stated business goals," said Brendan McInerney, Director of Strategy & Innovation at Stinson. "Our partners are extremely fluent in the language of AFAs due to the robust support of our firm’s leadership, the firm’s culture and our focus on the efficient delivery of legal work."
Stinson's dedicated Legal Project Management (LPM) team has over 70 years of combined experience in project management, with a focus on aligning pricing options and matter management strategies with clients' business goals. The LPM team provides price predictability, budget transparency and streamlined matter management, while helping clients control legal spend and meet business objectives without sacrificing quality. In addition to Stinson's dedicated LPM team, attorneys across practice areas are also LPM Certified, ensuring transparency and efficiency.
"Matter planning helps my clients understand their legal spend, but it's more important than that," said LPM Certified Partner Chuck Hatfield. "Budgets and matter detail ensure that I'm communicating with my clients and they have a good sense of what is being—and will be done—on their matters. That improves overall communication and leads to a "no surprises" relationship."
The majority of partners at Stinson work directly with the LPM team to ensure clear and understandable project plans and develop fee and cost estimates.