Kerry Price, the firm’s chief strategy officer, provided insight for an article in Law360 Pulse on the ways law firms can utilize advisory panels. While still not mainstream within the industry, some law firms have committees or boards comprised of executives from outside the firm to provide an outside point of view on firm strategy and business matters.
Bass Berry & Sims has had a client advisory board since 2017, which is made up of seven people and meets twice a year. As Kerry points out, this “board has allowed the firm’s leadership to gather valuable perspectives from outside the legal industry on strategy and management.”
Kerry added, “It is helpful to step out of the law firm itself, step out of the industry and think about management decisions not only from our clients’ perspectives, but from other industries’ perspectives.”
The full article, “Will BigLaw Embrace Nonlawyer Boards of Advisers?” was published by Law360Pulse on February 8 and is available online (subscription required).