2019 Q2 Newsletter: Siren Song of National Prestige

As we hit the halfway point on 2019, it’s clear the trend is continuing: Non-Texas-based firms are winning the race to snatch up local talent. In Q2 of this year, just 31% of partner moves went to a Texas-based firm. 

We’re seeing it firsthand with Aspire’s own clients — partners who are increasingly enticed by the perceived prestige of a national/international firm with a large footprint and a competitive M&A team to buoy the firm’s billings. This is a marked change from just a decade or so ago, when these same powerhouse firms had trouble earning trust among local talent and Texas businesses.    

Those who see the appeal of Texas-based law firms are typically bypassing the midsized firms for smaller, specialized operations. Of the 20 partner moves to Texas-based firms in the second quarter, only five were to Am Law 100 or 200 firms. Which leads us to believe we’ll see more of these middleweight Texas firms merge with national firms in the months and years to come.