In this episode of Great Practice, Great Life, Steve Riley is joined by Atticus Practice Advisor Daniel Struna for a candid conversation about one of the most consequential decisions a law firm owner can make: whether to merge practices.
Drawing on years of experience advising law firm owners, along with Steve’s own history with failed mergers, they identify exactly where law firm consolidations go wrong. The problem is rarely legal talent or goodwill. Too often, lawyers merge based on mutual respect or personal chemistry without pressure-testing whether their visions and financial realities actually align.
Steve and Daniel walk through the fault lines that undermine mergers early. They explore what happens when partners skip hard conversations about the future of the firm and personal life goals, and why avoiding early financial clarity around compensation structure, origination, and profit splits can lead to frustration later. They also draw a clear distinction between a true merger and what many firms mistakenly create instead: roommates sharing space while everything else remains separate.
This episode is the first in a two-part series designed to help lawyers slow down and think like owners. Whether you are actively considering a merger or simply curious about future growth options, this conversation will help you ask better questions and spot warning signs earlier.
Next week, tune in for Part 2, where Steve and Daniel sit down with the partners of a successful family law merger to unpack what worked, what they aligned on early, and the practical decisions that helped them build the new firm together.
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Inside This Episode
- Why most law firm mergers fail due to business misalignment, not legal skill
- The difference between a true merger and simply sharing office space
- The danger of merging based on personal rapport instead of strategic fit
- Aligning long-term practice vision with personal life goals before merging
- Critical money conversations that must happen early, including compensation and investment
- Common red flags that signal a merger should not move forward
- How the merger evaluation process can strengthen your firm even if you don’t merge
