Janders Dean founder Justin North was quoted in the Financial Times discussing the current Australian legal market and the nature of the competition that law firms now face. The article celebrated the rise in innovation amongst a number of Australian firms, including Janders Dean clients Gilbert + Tobin, Herbert Smith Freehills and Minter Ellison. North was quoted on an exploration of the major challenges law firms face within the market.
“As the ‘Big Four’ accountancy firms continue their growth within the legal sector, their ‘depth of alternative offerings and consulting approach,’ offers distinct advantages in terms of ‘legal capabilities’ ranging from ‘tax disputes to M&A,’ said North. This itself will pose a natural threat to existing legal providers.”
As the rise in innovation continues, the boundary between legal and professional services is gradually being broken down leading to the emergence of a number of newcomers to the market. Although a threat, North also sees a wealth of opportunities for existing practices to diversify and change their approach to capture the changing market.