The leader of the first U.S. law firm operated by a Big Four accounting firm says that KPMG isn't looking to displace clients' existing relationships with their legal service providers. But firm leaders and market observers are taking its entrance seriously.
What you need to know:
- KPMG, one of the 'Big Four' accounting firms offering tax and advisory services to clients, is adding legal advice to its platform after winning an alternative business structure license in Arizona.
- KPMG leaders acknowledged the competitive nature of the legal business, and they feel they're well-positioned in this space due to technology and existing clients.
- The firm says that while its license to practice law is limited to Arizona, it still envisions being able to perform legal work on a national scale for new and existing clients.
When Big Four accounting firm KPMG decided to seek a license to run a law firm under Arizona's alternative business structure program, firm principals say the decision came in response to client demand for a more comprehensive set of professional services under one umbrella.
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