Working with boutique law firms

Colt Wallerstein Partner Tom Wallerstein discusses the advantages of working with boutiques

Q: Tell me about your firm.

A: My partner and I founded [the firm] in July 2009. We both had been with big law firms our entire careers. We were nine and 10 years out of law school at the time. The whole idea was to do the same kind of work, the same quality of work and to pitch to the same types of clients that we were working with when we were at the big law firms, but to offer them much lower billing rates, a better, more client-focused billing philosophy and more responsiveness. Our whole pitch was, “We’re the same lawyers we were when we were at our big firms, except our rates are now approximately 50 percent of what they used to be.” We were billing around $700 an hour [at the big firms]; if we were still there, we’d probably be at about $800 an hour. Instead, we went from $700 an hour to $350 an hour. In the world that we came from, that’s quite a deal.

Ashley Post

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