Referral share

For a professional services partner, the fee value of their clients' matters worked by other practices over the fee value of all their clients' matters. Read beside the client gap against the firm's norm, never alone.

DefinitionFor a professional services partner, the fee value of their clients' matters worked by other practices over the fee value of all their clients' matters. Read beside the client gap against the firm's norm, never alone.

Low is not bad

A partner whose clients are single-practice by nature has a low share and no gap. The gap is the finding; the share is context.

Source fields

Originating partner and working practice on the matter record. Where the practice field is unreliable, use the fee earner's practice from time entries.

How it is computed

The fee value of a partner's clients' work done by other practices, divided by the total fees of those clients.

Example

Partner A's clients paid $3.0 million, of which $1.1 million was for work in other practices: 37 percent. Partner B's clients paid $2.6 million and $90,000 went elsewhere in the firm.

Where it goes wrong

Only origination credit tracked. Who introduces colleagues to their clients is not.

Articles that use this term

Wallet share and penetration · Law firms

Practice-area gaps and dormant clients per partner: matter analytics for law firms

How a law firm measures, from the practice management export alone, which practice areas each client instructs against the norm for clients like them, which long-standing clients have gone quiet, and how referrals flow between partners, reconciled to billed fees and without exposing any partner's book to another.

16 Sept 20263 min read Board and management reporting · Law firms

Realisation by client: the clients whose discount grew without anyone deciding it

How a law firm measures realisation per client from time entries and bills: billed value over worked value at standard rates, the write-downs and write-offs behind the gap, the trend per client and per partner, and the clients whose effective discount has widened year on year through a hundred small decisions that nobody made as a policy.

16 Sept 20262 min read Coverage and territory · Law firms

Referral share: which partners send work across the firm, and which keep it

How a law firm measures cross-referral from its own matter data: the originating partner against the working practice, referral share per partner, the norm from the firm's own book, and the list of clients with a single-practice relationship whose profile says they should have three.

16 Sept 20262 min read Coverage and territory · Wealth managers

Referral source by adviser: where new clients come from, and what each source is worth

How a wealth management firm measures its new client sources from the client master and the assets and fee records: clients won per source per adviser, assets and first-year fees by source, retention at three years by source from the firm's own history, the advisers whose books grow from client referrals against those dependent on one introducer, and the concentration risk in an introducer that sends a third of a firm's new assets.

16 Sept 20262 min read Board and management reporting · Law firms

Ten questions a managing partner asks about the firm's clients, and the table that answers each

The ten questions a managing partner of a law or accounting firm puts to the partners about the book, which clients use one practice, whose book depends on one client, which clients drifted in price, which have not started this season, where is the cash locked up, which partners send work across the firm, which proposals cost more than they win, what triggers sit in the compliance data, which matters were staffed above their price, and what changed, each with the table from the practice management system, the identity behind it, and the answer a managing partner should send back.

16 Sept 20262 min read How-to guides

The norm by industry: what 'similar customers' means on twelve desks

Every gap on this site is measured against a norm from the company's own best customers of the same kind, and what the same kind means changes by desk: same menu type and covers, same size band and sector, same tenure band, same rig count, same property type and market. This hub gives, for twelve industries, the fields that define similar, the unit of size the norm scales by, the population the norm is drawn from, and the guide for each.

16 Sept 20263 min read