Law Practice Management

Offer Your Clients AFAs
Before They Ask for Them.

January 26, 2012

If you’re billing by the hour and have never considered offering your clients alternative fee agreements (AFAs), here’s some research that might get you thinking.

A recent study by Altman Weil found that: “Firms that are proactive in their pursuit of non-hourly business were more than twice as likely to report higher profitability on non-hourly projects compared to firms that are reactive.”  Moreover, 95% of the law firms surveyed use AFAs and “75% of respondents believe there will be more non-hourly billing in the future.”
– From 2011 Law Firms in Transition. Download the full survey here.

Check out these books on AFAs and value pricing:
Winning Alternatives to the Billable Hour: Strategies That Work
Implementing Value Pricing: A Radical Business Model for Professional Firms

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