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Ask your new firm if they’ll honor your current rate for clients coming with you.
My current firm split the difference between my old and new rates to soften the blow so it’s definitely worth the ask.
Chief
It’s very common for firms to offer big rate discounts for at least the first year. You can also showcase to clients the bigger team, and more support at lower rates, such as more highly skilled paralegals.
Appreciate it. With the exception of one rockstar paralegal who is often booked because everyone wants his help, the paralegals at my current firm have very high rates and are not the most skilled. I’m sure there would be better paralegal support at the new firm at comparable rates. Another good selling point
My GC was good friends with a partner at a boutique firm that we outsourced a lot of creditor issues to. The associate who did all the heavy lifting got passed over for partner, so he jumped ship to another firm. I wanted to move our business with him, but GC said no (I presume because of his friendship).
The lawyer who took over for the departed lawyer wasn't nearly as effective as the person who left. Not only did he struggle with tasks that were routine to the other lawyer, but he billed at least a quarter hour every time he touched an envelope containing any sort of two-sentence boilerplate notice from the case.
We got the firm to remove many of those charges, but after a couple of months I was able to convince the GC that it would be cheaper to follow the other lawyer to his new firm.
Another great insight! I think I would be able to pitch the same idea. My rate would be higher but I believe I would manage the matters more efficiently resulting in less expenditure for the client.