My new firm has a large real estate deal practice. There is one regulatory portion that they refer out because they don’t have the expertise. I have that expertise and want to develop a team to handle. What are your thoughts on origination? They’re not my clients but it’s a new line of income for the firm. Yes, I know the “talk to them about it” answer, but I’m more interested in how other firms handle these situations. Also, I’m not a partner.

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My firm almost exclusively determines origination on a client, and not a work stream basis.

That would be true in this case too.

The occasional exception is if there are distinct business units within a client and work came to the firm from those business units independently.

But for additional work on deals that the team would be handling anyway that comes from the same client business unit, we’d never split origination.

But given your expertise, you should still draw that work if you can, even without getting origination. Sounds good in reviews, secures you more quality work, makes the firm more profitable, reinforces your expertise, helps you establish one with clients that you may end up in-house with or taking with you to a new firm some day.

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Additionally, if partnership is your goal, having your own speciality with the firm’s clients will vastly improve your chances.

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