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Generally speaking, attorneys are most concerned about law firm revenue — which makes sense.
However, attorneys, more often than not, neglect managing their personal finances — which are, arguably, just as important, if not more important, than what the firm makes.
So, naturally, for this episode of the Non-Eventcast podcast, we brought in Niraj Chabbra of Sidebar Advisors, who helps attorneys manage their personal finances, to explain what that looks like — in a best-case scenario.
To start, Niraj discusses what triggers attorneys to look for financial planning advice (8:50) — or, what should trigger them to do so — while also addressing how to get started with a professional advisor (6:31).
We then discuss the difference between wealth management and financial planning (10:06), as well as how a financial planner can help both managing attorneys and law firm employees (13:03).
After that, Niraj gets into some hot financial tips for lawyers, as well as the latest trends they should be aware of in financial management (14:10) to increase their net worth (17:19).
Later, Niraj talks about the technology applications he uses (19:38), as well as his favorite financial planning apps (24:15). Niraj then discusses how he walks clients through different financial scenarios using technology tools (21:27).
Finally, Niraj addresses how he doubled down on in-person networking (including via web conference), to grow his own business (22:20).
If your personal bank accounts are looking empty as a pocket, give this episode of the Non-Eventcast a listen, to see if you can’t improve your situation.
Feel free to also check out our CRM Buyers Guide at the Non-Event for more on the latest resources to improve your firm’s cash flow. (The Non-Event is supported by vendor sponsorships.)
Jared Correia, a consultant and legal technology expert, is the host of the Non-Eventcast, the featured podcast of the Above the Law Non-Event for Tech-Perplexed Lawyers.
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