(60) Tax, Estate and Succession Planning + Subscriptions with Matthew Burgess of View Legal

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SPEAKER 1

Welcome to Law Subscribed. This is your dedicated news source for all things subscriptions and the law. My name is Matthew Kurbis. I'm the subscription attorney and I believe subscriptions can help bridge the access to justice gap and incentivize attorneys to modernize and scale their practice like never before. In this episode, I interview Matthew Burgess.

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Matthew is disrupting the billable hour down under. He has a deep understanding of all the benefits of productizing your legal services and separating the value of time from money. He's experimented with subscriptions over the years and shares what worked and what hasn't in this interview. I'm releasing videos of my podcast to all my Substack subscribers.

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You can subscribe for free at www.lawsubscribed.com Thank you to my sponsors 650 and Gavel. Links to both in the show notes. More on them later. And remember to use the code Law Subscribed when signing up. It lets them know you found out about them from the podcast. You get 10% off and it really supports the show.

(60) Tax, Estate and Succession Planning + Subscriptions with Matthew Burgess of View Legal

Mathew Kerbis, The Subscription Attorney

Law Subscribed

Feb 17, 2024

Transcript

Matthew Burgess shares how he transitioned away from the billable hour early in his career to offer fixed fees, eventually evolving to subscriptions for estate planning clients. Burgess cautions lawyers that subscription models with high client service have limits on scalability, so value pricing may work better. However, he sees the power of subscription for building trust and aligning incentives.

Burgess explains his firm's specialized, referral-only business model serving other firms' clients, allowing them to scale through professional advisors instead of direct-to-consumer marketing. He believes lawyers must hyper-specialize to remain profitable in an age of technology disruption and legal services democratization. Burgess also discusses insights on tiering subscription services at 10x the value, not simply 5x the price, and offering annual client "checkups" as valuable touchpoints.

On the tech side, Burgess shares his firm's journey into custom platforms but suggests configurable solutions work better for most. He previews excitement about PatternBuilder in NetDocuments with AI potential to automate millions of words of firm content. Burgess concludes lawyers who grasp subscription business models and AI's power to scale will build the legal businesses of the future.

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