In light of rising concerns amid corporate legal teams about managing the cost of legal services, it’s worth drawing attention to an informative piece by Ary Rosenbaum, Partner at The Rosenbaum Law Firm P.C. He emphasizes that picking plan providers simply because they are the cheapest option could be a serious mistake.
This article draws an insightful analogy with savvy shopping – noting that just as it’s never a good idea to buy purely on cost alone, it’s equally unadvisable when it comes to choosing legal plan providers.
Rosenbaum and his wife feel they are skilled at finding bargains, extending this principle to their major purchases at stores like Costco where items ending in 97 cents are known to be discounted. The critical caveat here is that they only find value in items that are both high quality and on sale. They are firm proponents of patiently waiting for the right moment to buy, rather than rushing to get something at retail price that could be obtained later for 30% less.
Notably, Rosenbaum’s point of view holds real weight in the legal community. Comparable to the shopping analogy, it’s critical that legal plan providers offer more than just a lucrative price tag. They must also be reliable, deliver high quality service, and fulfill requirements that potentially go beyond the initial contract extension.
Choosing a provider based solely on their proposed fees can lead to a myriad of potential issues – including unanticipated costs down the line, or having to replace them due to unsatisfactory service delivery. The critical notion here is, in Rosenbaum’s words, that it’s “about value, getting something in quality that is on sale.”
Rosenbaum’s piece isn’t just a savvy shopping guide, but a clear warning for legal professionals weighing up potential plan providers. The emphasis on value over cheapness, and quality over quick savings, is key to making the right choice in the market.