Tom Lenfestey, Founder & CEO

Attorney, CPA, Accredited Business Intermediary, and BBP Industry Expert in Law Firms

In his role as the Founder & CEO of The Law Practice Exchange, Tom’s goal is to guide lawyers through the next chapter of their legal career, whether that’s succession planning, exit planning, or strategic growth through law firm acquisition. As a respected leader in law firm sales, Tom has guided The Law Practice Exchange to be the leading marketplace and expert team specializing in aiding attorneys and law firms in buying and selling law firms through continuation, exit and succession strategies. Its mission is to provide education and essential services to facilitate seamless law firm sales and acquisitions and lawyer transition planning.

Recognizing the challenges faced by retiring lawyers due to a lack of succession planning, Tom, a seasoned attorney in private practice and law firm owner, launched The Law Practice Exchange in 2013. This trusted and innovative platform and service model serves a dual purpose. For lawyers looking to pass the torch, LPE empowers them to smoothly transition their practice and secure their future. For firms looking to strategically grow, LPE provides expert and personal guidance for smooth and efficient law firm acquisition.

Tom spends much of his time as a speaker on law firm valuation, buying and selling of law firms, law firm mergers, and lawyer succession planning. He is a regular guest speaker at legal associations, CLEs, and podcasts, and is also a frequent author of and contributor to legal articles and publications. Tom has co-authored the book Succession Plan for your Law Practice: A Step-by-Step Guide for Preparing Your Firm for Maximum Value with LPE team member Camille Stell.

Tom was appointed to and served on the Transitioning Lawyers Commission and Professional Vitality Committee with the North Carolina Bar Association, and serves as advisor and contributor to legal insurers, law firm lending institutions and others regarding the law firm buying/selling/succession marketplace.

Tom’s mission is to ensure that every law firm owner knows they have an option to sell their firm, that they understand the strategies to make that sale successful, and to motivate them to not wait until it’s too late. He is dedicated to empowering attorneys and law firms with the understanding that achieving a successful succession plan is well within reach.

Tom is a NC State Wolfpack fan and a past Michigander (who has always believed in the Lions). However, his true passion in life is his family, including his wife and two sons, coastal living, and their travel adventures.

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Why Tom Started The Law Practice Exchange

Why Tom Started The Law Practice Exchange

Tom’s years in private practice 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 available in the legal profession to attorneys and their own practices, specifically in the realm of succession planning and other transition or exit opportunities. As a result, Tom founded The Law Practice Exchange to provide education, options and brokerage and consulting services to the legal profession on selling, buying and overall law firm succession strategies.

Podcast Appearances

Experience: Sample Law Firm Transactions

Keynotes + Speaking Engagements

Published Work

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