SERVICES

Consultancy/Pre-Search Analysis

Fides Search is better informed, more responsive, and delivers better results than its competitors
Head of Partner Recruitment, International Law firm.

We started out with a simple concept – we were asked by a law firm partner, ‘what would our clients say’. Our response was, ‘let’s ask them, and while we are on the subject, why don’t we speak to people who aren’t your clients yet?’

We ran with the idea and realised we could help clients garner a better understanding of their market by utilising our extensive in-house network, thus giving them access to valuable feedback. Fast forward almost a decade and it turns out we have developed a number of tools designed to help clients make informed decisions. We have undertaken consulting projects in over 20 jurisdictions for clients across private practice and industry.

Why Consultancy?

  • To help clients acquire a thorough perspective of a certain geographic ambit or practice area which can, in turn, help facilitate improved and more informed decision making.
  • To identify an array of potential solutions, both internal and external, to help clients improve their offering and market perception.
  • To provide a third-party viewpoint which can potentially help validate or negate a pre-existing business plan and/or to assist in the formulation of future strategic initiatives.
  • To glean competitor insight that can benefit clients and help qualify the thought process behind the solutions we present them with.

What is important?
Who we meet:

Senior in-house lawyers and business side leaders from corporate and financial institutions, as well as other market participants such as barristers, insolvency practitioners, consultants and accountants.

Relevant individuals from domestic and international law firms and the wider Professional Services market.


Anonymity:

Preserving client anonymity when undertaking  projects means we can take unbiased soundings from purchasers of legal services and provide truly objective feedback on clients and their competitors.


A proactive approach to solving problems:

We aim to keep an open mind throughout the lifetime of the project so we can be nimble and react to live market news. We adapt our investigations to the information harvested, affording us a more comprehensive perspective of the market. This means we can offer clients a range of options and solutions which will, in turn, help clients to achieve better formulation and execution of ideas to meet their strategic goals.



From the point of instruction, what is involved?

Phase 1. Client Briefing:

An initial meeting to agree project outline, objectives and desired outcomes in detail.


Phase 2. Planning and executing relevant meetings:

Identify key individuals with in-depth knowledge of the relevant practice area, market or jurisdiction, arrange to meet and interview them to gather market intelligence. The process typically takes around three to five weeks.


Phase 3. Report:

We compile our findings into a formal report which is delivered to the client in both electronic and hard copy. Findings are also presented and discussed by way of a thorough debrief with key stakeholders to maximise the quality of information imparted to the client. Following the successful completion of the project, we are available to confer further with regards to next steps and additional action points which may arise, including going down a formal search route.


What is included in the reports?

While each consultancy project is tailored to our clients' specific objectives, we are often asked us to provide the following:
Current law firm overview:

Analysis of leading law firms and their key fee earners. This would typically include an overview of ranked lawyers within the relevant practice area and/or jurisdiction.


Competitor Analysis:

In-depth assessment of the competitor field, outlining ranking, market perception, client base, team size and capability mix. This affords our clients a better vantage point from which to formulate strategic ideas.


Market Feedback:

Objective feedback from clients and target clients as well as the wider market on key topics such as pricing, pitching and deal team structures.


Analysis of market moves:

Tracking of key moves which have occurred over a reasonable and relevant time frame to discern possible trends and areas of demand.


Network Importance:

Gauging the impact and market perception of our clients’ international network within the given geographical market or practice area.


Identifying Potential Growth Sectors:

Identifying specific industry sectors which may be poised for growth, in order to help steer our clients towards making qualified decisions as to where to devote additional resource.


Analysis of your current offering:

Thorough analysis of our clients’ incumbent offering to identify weaknesses or indeed highlight strengths.


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