Good Morning from sunny Miami Beach Florida. My colleague Tina Burns and I are exhibiting at this year’s 2017 Trial Lawyers Summit. It is always so nice to visit with our clients and actively support the hard work of so many dedicated lawyers fighting and advocating for justice.
I thought I would share a story from yesterday. Our booth runs a testimonial video that features many of our longstanding clients. An NTL member came by, watched the video turned to me and said:
“I know these guys! Boy and am I glad I don’t need companies like Advocate Capital because I have PLENTY of money to fund my cases!” To this I replied, “Congratulations on the success of your firm and enjoy the rest of the conference!”
(You can watch this video here. Maybe there is someone you know?)
Serving firms because of a ‘need’ for money is a common misconception of what we do. Our clients do not need money. They all have successful practices with plenty of cash. Through many conversations with us over time, our clients have come to realize that extending an interest free loan to their cases is not the best way to invest their hard earned firm profits. They have discovered the freedom of pulling this hard earned cash out of their cases and re-investing this capital throughout other areas of their practice. This has resulted in significant net worth growth and the pursuit of additional business opportunities (like mass torts for example).
Friends, the question is not whether you “need” the money. The question is really about:
“Is investing my hard earned after-tax profits into my cases at no rate of return the best way to run a business?”
“If I had all this cash sitting in my operating account right now is there something I could do with it?”
We may not be a fit for your firm, but we do have a better way to help you manage the capital and liquidity of your firm. Take a moment to watch this 2 minute video. If this describes you, let’s talk. We won’t sell you anything. We will see if we can support your firm’s goals and objectives.
Thanks for doing what you do!