As Baby Boomers Retire, Faith in Computers Grows, Report Finds

As the baby boomer generation ages, only about a third of law firms are formally planning for succession, a recent survey found.

Roughly, 320 law firms, of all sizes, participated in the survey conducted by the legal consulting firm Altman Weil.

It suggested a retirement crisis may be looming on the horizon, and painted a picture of the legal industry as poised for seismic shifts: A majority of the responding law firms said that partners aged 60 or older control at least a quarter of the firm’s total revenue.

It is not clear who or what will replace them when they leave. About ...