Why Attorneys Are Great Clients For Accounting Professionals
Who is this article for?
We wrote this article for accountants and bookkeepers who are looking to niche into the legal world, especially for small and solo law practices. This guide will help you understand what lawyers are looking for in terms of financial guidance and how to position yourself as an expert. We’ll help you get there.
Why attorneys make for great clients.
Aside from the fact that attorneys make enough money to pay their bills, they also make good clients because many lawyers are attracted to legal work in the first place in order to provide “justice for all.” (See: Lawyers are Heroes) They are willing to do detailed, sometimes tedious work (sound familiar?) so that their clients can achieve the best outcomes. They are like you: smart, detail-oriented, service providers.
Lawyers get a bad rap and the stereotype is wrong. We’ve been working with thousands of lawyers over the years. We know why they are good clients.
- Many have interesting cases with altruistic missions (See the LeanLaw series, Lawyers are Heroes)
- They ask good questions, are detail oriented and care about their clients.
- Attorneys are intellectual – these are the clients who have the capacity to learn about their accounting – making your job easier and more fulfilling.
- Attorneys take direction well – they are used to giving direction and appreciate it when it’s done in a professional way.
- Lawyers also have specific accounting rules established by their bar associations. Once you have ingested and understood the rules of say, trust accounting (bookkeeping, reconciliation, auditing, etc.), you can use the same expertise on all of your other attorney clients in that state. The rules are the same.
- Attorneys are a great referral source. And if you can get more lawyers as clients, you’ll be interfacing with similar businesses which speak the same language and see you as a fellow service provider.
Lawyers who receive trust accounting retainers from their clients are lawyers who have a high level of trust from their clients. This is a marker for you as well: to be associated with trustworthy attorneys.
Being recognized as an accountant who has a lot of lawyer clients will elevate your brand and give you the positive association with a sophisticated group of professionals.
UP NEXT…How Accountants Can Help Attorneys – it’s more than just accounting.
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