Corporate counsel rate McGuireWoods as one of just five law firms with the strongest client relationships and one of the firms they most highly recommend to their peers, according to BTI Consulting Group’s 2017 Industry Power Rankings.
2017 marks the second consecutive year McGuireWoods ranked among the top five in BTI’s Clientopia 24 — two dozen firms with such close client relationships that they are the first firms those clients recommend to peers. McGuireWoods achieved “Clientopia” relationships in food, manufacturing, retail trade, transportation and utilities industry sectors. BTI defines “Clientopia” as “the ideal state of a client relationship.” The firm also earned recognition in nine additional industry sectors: banking, chemicals, healthcare, high tech, insurance, pharmaceuticals, professional services, real estate and telecommunications.
The rankings are based on 960 in-depth interviews with top legal decision makers at large companies in 18 industries. The BTI report underscores the value of organizing law firms around industry groups, as McGuireWoods has done for more than a decade. Only a handful of firms use an industry-focused approach with great success, the report notes.
“More than ever, legal decision makers are seeking out law firms able to quickly understand an issue and provide business-focused recommendations in addition to exceptional legal guidance,” BTI noted. Firms with successful industry-focused groups enjoy premium rates and preferred access to the most complex client work, according to the report.
Melissa Glassman, McGuireWoods’ deputy managing partner for industry teams, said, “In 2006, McGuireWoods decided that we would differ from the traditional big law firm model and adopt an industry team approach to our client work. This allows us to deliver the highest level of skill and service to each client matter quickly and efficiently.”
BTI recently rated McGuireWoods among the “best of the best” law firms for innovations that enhance value for clients in its 2017 Brand Elite report, the fifth year in a row the firm was recognized in the survey.
Boston-based BTI Consulting Group is a strategic provider of objective, independent research to the legal community and professional services firms. It performs in-depth analysis of client experiences for firms through more than 14,000 independent interviews with top executives of Fortune 1,000 corporations.