Should You Change Law Firms as a Partner? A Strategic and Personal Framework

by Pete Smith, TARANIS Professionals. Contact me confidentially at 415.937.6686 or peter@taranisrecruiter.com to start a conversation.

I've drawn on several sources that I trust in the industry, as well as my own experience, to come up with the below summary of early considerations for a platform change:

Change in your practice may be inevitable

If you’re a partner at a major law firm, you’ve likely asked yourself—quietly, maybe more than once—“Should I stay here?” The answer is rarely simple. You’re not necessarily unhappy. You’ve invested years, perhaps decades, building your reputation, relationships, and institutional knowledge. You know how to navigate the political landscape, flawed though it may be. You’ve earned internal capital, built a team, and established a rhythm. But over time, the foundation can begin to shift—sometimes subtly, sometimes dramatically. What once felt like a solid platform may begin to feel misaligned with your values, your practice, or your clients.

This isn’t about chasing greener grass. Most partners who eventually decide to make a move don’t do so in response to a single event. The discomfort that prompts a platform change is rarely acute—it builds over time. Slowly, almost imperceptibly, the firm you joined becomes a different place. And then, one day, the realization hits: staying may now carry more risk than leaving.

Why Do Partners Stay Too Long?

For every successful lateral move, there’s a cautionary tale: the partner who jumped too soon, who misread the culture, or who underestimated the difficulty of integration. These stories are powerful—and they keep many partners in place longer than they

should be. They justify their hesitation with familiar refrains:

• “Every firm has issues.”

• “The politics may be bad here, but at least I know how to navigate them.”

• “I’ve invested too much to start over now.”

• “It’s too risky in this market.”

• “I don’t want to lose my team, my origination credit, or my leverage.”

These are rational thoughts. But often, they mask a deeper truth: that the professional and financial cost of staying may already be higher than partners are willing to admit. Inertia—disguised as loyalty or prudence—can keep even high-performing partners tethered to platforms that no longer serve them or their clients.

What Drives Partners to Finally Move

Based on interviews, surveys, and recruiter data from leading lateral advisors (Major, Lindsey & Africa, BCG Search, Astor Group, Wealthspire), several themes consistently emerge among partners who eventually make the leap—and often wish they had done it sooner.

Client Constraints are a common tipping point. When you find yourself referring out work you could handle—or should be handling—because your firm lacks capabilities, it’s more than a missed opportunity. It’s a strategic failure. Similarly, rate pressure—especially when driven by rigid firm-wide policies—can price you out of key client relationships. Today’s clients expect flexibility. If your platform can’t offer it, your competitors will.

Compensation dissatisfaction is another signal. Many partners cite opaque, overly political, or erratic compensation systems as key reasons for exploring other platforms. This frustration deepens when the firm's leadership doesn’t fully understand—or properly value—your practice and its contributions.

There’s also the growing burden of administrative overload. Committee work, firm management, and mentoring junior attorneys are essential, but when they go unrecognized at comp time, resentment can set in. Meanwhile, strategic drift at the firm level—chasing prestige laterals, expanding into ill-fitting markets, or pivoting away from your core strengths—can make it feel like your practice is no longer part of the long-term vision.

Other factors are structural. Leadership succession gaps create instability. Partners look ahead and see no clear successors—or worse, no plan at all. Overly conservative conflict or reputational filters can block valuable new clients. And the firm’s geographic footprint may no longer align with your clients' needs, particularly as cross-border and multi-jurisdictional matters increase. Finally, many partners describe a quiet but powerful sense of cultural erosion: “This isn’t the same firm I joined—and I’m not sure I believe in the version we’ve become.”

These aren't minor irritants. They are strategic constraints—ones that directly affect your ability to serve clients, grow your book, and realize your professional ambitions.

The Real Risks of Moving

Despite these issues, changing firms carries legitimate risks. The most common is client portability. Even long-standing clients may hesitate to follow you, whether due to institutional relationships, conflict issues, or rate misalignment. If you don’t have a clear sense of who will come with you, the move may underdeliver from day one.

Another risk is reputational fatigue. In the lateral market, perception matters. Too many moves—or poorly explained ones—can signal instability or opportunism. The narrative you share with recruiters, clients, and internal stakeholders must be strategic and forward-looking, not reactionary or grievance-driven.

Integration is another major variable. Even firms with strong platforms can fail at onboarding new partners. Without a structured plan—including internal sponsorship, client transition support, and relationship-building across practice areas—lateral partners often feel isolated or underleveraged. Platform strength on paper means little if the post-arrival experience is chaotic or neglectful.

Finally, there are financial and contractual pitfalls: capital account recovery, clawbacks, notice obligations, and restrictive covenants. These can complicate exits and reduce the near-term financial upside. Every move must be evaluated with counsel and careful attention to partnership agreement terms.

What a Smart Partner Does Next

The best lateral decisions are made strategically—not urgently. Not every frustration justifies a move, and not every attractive firm is the right fit. But staying by default isn’t a strategy. It’s inertia.

Begin with a pressure-test of your current platform. Are you empowered to serve your clients the way they need to be served? Or are you constantly working around limitations—conflicts, rate pressures, insufficient practice support? If the answer is the latter, that friction deserves a closer look.

Understand your market value. What would another firm pay for your book? What resources would they offer to grow it? Don’t guess—engage trusted recruiters and advisors who know the lateral market and understand your practice's unique value proposition. This isn’t about maximizing compensation in the abstract—it’s about knowing your leverage.

Next, identify your friction points. What parts of your practice feel unnecessarily hard? What are you tolerating that you wouldn’t accept if you were starting fresh? This exercise often reveals just how much partners have normalized misalignment.

Throughout the process, protect your confidentiality. Work only with trusted advisors who understand the nuances of partner mobility, client sensitivities, and the unspoken rules of lateral negotiations. Discretion isn’t just about risk mitigation—it’s about preserving optionality.

Lastly, think beyond prestige. The Am Law rankings are one data point—not a roadmap. Some of the most successful partner moves happen outside the “top 20,” in firms with strong cultures, clear strategic focus, and better alignment with your specific practice and client base.

The Right Time to Move

Exploring your options doesn’t make you disloyal. It makes you responsible. Law firm practice is not built for permanence—it’s built for performance. When your current platform no longer gives you the tools, flexibility, or strategic alignment your practice needs, it’s time to start looking seriously.

You don’t have to be unhappy to explore. You don’t need to have “had enough” to start a conversation. Sometimes, the most empowered moves happen when you’re still in a position of strength—when you have the clarity and leverage to evaluate new opportunities from a place of confidence.

This isn’t about chasing a better title or comp bump. It’s about future-proofing your practice. It’s about owning your narrative and building a platform that reflects your values, supports your clients, and sets you up for sustained growth.

The right time to move isn’t always obvious. But the wrong time to assess your options is after the window has closed.

I'm happy to discuss your practice goals at a convenient time. Call, write or use my calendar app to set an agreeable appointment: Pete Smith, TARANIS, 415.937.6686, peter@taranisrecruiter.com, https://calendly.com/taranisrecruiter/60-minute-meeting