Law Firm Banking Partnership Leads to Increased Case Fees & Revenue
For Florida-based personal injury law firm, Ged Lawyers, LLP, finding a law firm banking partnership that could provide legal industry insights, business expertise, and tailored financial solutions for the firm’s growth aspirations was essential – the results were impressive.
Over a two-year period, with the support of Esquire Bank, Ged Lawyers increased its investment in marketing by 371%, resulting in a marketing ROI of 500% and a revenue increase of 88% over the same period. Additionally, the law firm nearly doubled its case fees in a single year, growing by 95%.
“In partnering with Esquire Bank, we found that their underwriters are lawyers who have practiced law and understand how a law firm and lawyers work. Esquire Bank is not only our banker, they’re also a mentor in different practice areas and expertise areas,” noted Marius Ged, co-founder and managing partner of Ged Lawyers.
In a position to expand throughout Florida and into new geographic markets, Ged Lawyers sought a financial institution that understood the unique business model of a contingency fee law firm looking to expand, and could provide the financing to support that growth. With Esquire Bank’s financing solutions, the law firm successfully expanded its operations in Florida and also Massachusetts.
For the managing partners at Ged Lawyers, the combination of a consultative relationship and case cost financing provided the strategic guidance and growth capital to help the firm pursue its roadmap for law firm growth and increased revenue. “I can tell you there is no one or no bank other than Esquire that I can call the CEO up and say hey this is what I’m thinking about, what do you think?” noted Marius Ged. “We found just by working with them and explaining to them our specific needs, they’ve tailored all the different products to become personalized and work best for us,” he added.
Watch the 3-minute video below to learn more about how Ged Lawyers leveraged its law firm banking partnership with Esquire Bank to realize its ambitions for future growth and increased revenue.