Why We Are Here
For many years in his practice, Tom Lenfestey, an attorney and CPA worked with professional businesses by assisting them in ownership transfer and succession strategies. As an attorney and partner in a law firm himself he realized that most lawyers or law firms didn’t have a plan for transitioning lawyers and the practice ownership they hold when that lawyer is ready to walk away. Additionally, very little knowledge was available to the law firm owners on the options available for ownership transfer, especially when it came to
sale of that ownership through internal or outside sale methods. To Tom, this lack of knowledge was hurting lawyers and law firms as compared to other professions who had abundant transfer resources available to help them through planning for retirement, sale or succession of their law practices. The Law Practice Exchange was created to answer those questions and provide the services needed to promote and help implement ownership transition strategies for lawyers. The Law Practice Exchange has become the national
eader in law practice sales and helping attorneys and law firms implement their succession plans. Our goal is to truly show attorneys and law firms that succession planning through an internal or external ownership transfer is achievable and doesn’t have to be something you talk about, but never do.
What is The Law Practice Exchange?
First, we see ourselves as a resource for the how-to of lawyer and law firm ownership transition planning. Second, we are consultants and practice brokers to provide the knowledge and services needed for lawyers to implement their desired exit strategy. Whether it is internal transfer and succession to the next generation within the firm or a confidential marketplace search approach to find a firm or individual attorney buyer, we provide the expertise and work to achieve those goals.
Marketplace selling of law firmsInternal sales and succession planning
If you are an attorney with unanswered questions on what to do to plan for your professional transition or a lawyer or law firm looking for your law practice internal succession plan or exit path The Law Practice Exchange can help. The Law Practice Exchange serves as your confidential law practice broker or transition advisor in developing a plan that works for you, your firm and your successors in order to see it through to implementation.
Attorney, CPA, Accredited Business Intermediary BBP Industry Expert: Legal/Law Practices Founder of The Law Practice Exchange, LLC
Tom Lenfestey is the Managing Member of The Law Practice Exchange, LLC as well as a practicing North Carolina attorney and licensed CPA. Tom’s years in the legal world focused on transition and succession planning for other professions including creating, advising and implementing strategic business and estate plans for those clients. In doing so, he came to recognize the lack of knowledge, attention and options that were provided in the legal profession to attorneys for their own practices, specifically in the
Sales & Client Manager
Amanda Myers leans on her experience in client relations and business management to lead the way for attorneys as she guides them through LPE’s transition process. Her goal is to help lawyers and law firms facilitate strategic sales and acquisitions while maintaining a deep commitment to ensuring a successful outcome for all involved. For the attorney looking to exit their practice or a lawyer or law firm looking for growth through acquisition, it is Amanda’s mission to not only provide an introduction, but also keep them informed and lead them down The Law Practice Exchange’s proven steps to completing a successful transaction for all involved.
What is The Law Practice Exchange?
The Law Practice Exchange has trusted relationships with experts across the country in order to make sure we can provide the right service as well as local expertise to lawyers and law firms as needed. Our affiliate team of brokers and consultants work with us to deliver the LPE process or their specific expertise needed to lawyers and law firms to make sure all the resources can be provided as needed. Our affiliate team are from the following areas:
- Market specific real estate professionals
- Career transition and retirement planning
- Business development and marketing
- Technology and information systems
- Law firm management
Why should I choose The Law Practice Exchange?
Our platform was built by lawyers for lawyers. Law firms and lawyer exit planning is all we do and we understand that the process of selling your law firm or working on an internal succession plan is different and our process is built to address those law specific challenges and structures.
Our team. We are committed to promoting exit and succession planning knowledge to the legal industry. We also take the same professional approach that lawyers expect and should require to make sure the sale or succession planning is carried our appropriately. We are the experts in this arena and we aim to show it through our service and knowledge.
As the resource for lawyer exit planning we receive inquiries across the country (and beyond at times) from lawyers and law firms looking for help in planning their ownership transition through a marketplace sale of their firm or an internal sale through a succession plan. As a result, we operate in most states across the country and have built out a great team of local brokers in certain regions who understand what we do and how we carry out that process to make it all work. As a result, we can continue our mission of providing knowledge and resource by assisting lawyers across the country in selling their law firms or by through internal sale and succession.
We also have tremendous trusted relationships with outside resources required through the process. Whether the need is a lender, consulting or some other arena we typically have the resource that can help us service that needed step of the process.
Lastly, we also are overwhelmed by the trusted relationships we have with state and local bar associations as well as lawyer insurance companies and other legal consultants. LPE was born in North Carolina and has expanded strategically from there across the country, but some of our strongest relationships are here with the NC Bar Association and Lawyers Mutual Insurance Company of NC and those have led to even greater compliments of introductions and referrals to legal associations across the country.