Covid-19 causes drain of law firm partners

Nearly 4,000 partners retired or moved to other law firms in 2019-2020, resulting in a net loss of 136 partners compared to a net increase of 956 partners in the previous 12-month period, Hazlewoods has found. The accountancy firm said many lawyers who retired probably worked in practice areas significantly impacted by the pandemic, including criminal and family law. Lawyer income dropped substantially, accelerating plans to retire. Hazlewoods partner Andy Harris said the crisis “has highlighted just how vital it is to plan early so that any unexpected events do not completely derail retirement plans”.