Lawyers Make Great Clients

by

Deciding to move your accounting practice to a specific niche is a difficult decision. Working exclusively with attorneys can be a great choice! Of course, we all know the stereotype of a lawyer and all of the “bad jokes” surrounding that profession. However, I am here to tell you that it can be a fulfilling decision to work exclusively with attorneys. Here are my top five reasons why:

  1. They are professional and treat you with respect.
  2. They respond to every phone call, email, text without delay. You never have to reach out twice. Document requests are fulfilled instantly.
  3. Attorneys are intellectual and ask great questions. 
  4. The legal industry is not as cyclical and is less apt to be affected by a recession like other industries.
  5. They are a great referral source! They belong to professional networks and interact with each other on a day-to-day basis. Referrals will help grow your practice.

An attorney is also a business owner. They understand and appreciate the accountant’s expertise and most of all, lawyer’s place a high value on keeping their records compliant.

Working with attorneys requires a higher level of expertise. As an accountant, you need to understand the lingo from retainers to advanced client costs, to IOLTA accounts, to name a few. Additionally, knowledge of how trust accounting works is paramount. An attorney can lose their license to practice if trust funds are mismanaged. The American Bar Association sets standards that must be followed. This time invested as the accountant in learning the ins and outs of the legal profession will set you apart from other accounting professionals, and you can demand higher pricing on your accounting packages.  

So, yes, there is time involved in learning how to become the best accountant for the legal industry. However, the time spent far outweighs the benefits of working with lawyers. Most attorneys I have worked with place a high value on giving back to the community. They are genuinely good people who are passionate about what they do and why they do it. They also appreciate your time and respect you as a professional that can guide them to a prosperous business.  

Author Bio: Lynda Artesani is the president of Artesani Bookkeeping where she uses her expertise and organizational skills to help her small business clients grow their firms, thrive and become profitable.  Her specialty is working with attorneys, real estate clients and start-ups. Lynda was recognized by Intuit and invited to be a member of the Intuit Advisory Council and the Intuit Trainer Writer Network.  Additionally, she is the first Expert Columnist for the QB Community forum.  She also co-admins a Facebook group with Matthew Fulton to help other business owners with QuickBooks, marketing, apps, workflow challenges and much more.  The group is called QB Community Live!Originally from Rhode Island, Lynda relocated to Estero Florida.  She is a registered yoga teacher and teaches two classes per week.  Connect with Lynda on Facebook or Twitter @lynda_artesani and subscribe on YouTube at Artesanibookkeeping.