Today sees the publication of the 2020 eprivateclient Top Law Firms – a detailed ranking of the best private client legal teams working in the UK.
Ranked on indices including the number of private client partners and fee earners, as well as private client revenue and this revenue as a percentage of total firm income, the 2020 rankings feature 48 law firms - up from 43 last year - divided across three tiers. Tier I features 16 firms, Tier II 18 firms and a further 14 featuring in Tier III.
Overall, the 48 firms have a total of 638 UK based private client partners (up from 539 last year) at an average of 13 partners per firm. The firms employ 2247 fee earners (an average of 45 per firm), total UK staff of 3044 (down around two percent on last year) and total UK fee income of more than half a billion pounds at £517.5 million, up slightly on last year (£500.2 million).
Across the three tiers the firms hired a total of over 150 new private client solicitors last year and generated on average 32 percent of all fee income at the 48 firms.
In Tier I 16 firms feature for 2020. The firms employ a total of 258 private client partners at an average of 15 partners per firm. Mischon de Reya has the most partners at 35 whilst Stephenson Harwood features in Tier I with just four UK private client partners. The firms have 1032 fee earners (an average of 60 per firm) and employ just over 1300 private client staff (80 per firm on average).
The 16 law firms recorded fee income totalling £295.3 million with Withers heading the rankings with fee income of over £48 million. The firms hired 64 new solicitors in the past year and generated an average of around 27 percent of all the firms’ fee income...