Pennsylvania and Delaware law firms could have a banner year if the 2014 collections cycle goes well, according to another survey that shows area law firms have strong inventory along with revenue projections that are outpacing expense growth. But the firms still lag when it comes to rate increases and come in above the national average when it comes to attorney head count growth in what one banker described as an industry that continues to deal with overcapacity.
Wells Fargo Private Bank’s Legal Specialty Group’s nine-month survey comparing the first nine months of 2014 to the same period in 2013 mirrored a number of findings from a recent survey released by Citi Private Bank that looked at the same time period.
