The TX-LW Story
Service firms provide critical services that we all use. Yet service firms are often not seen as being as profitable or scalable as technology-first and manufacturing businesses. This is especially true for firms that provide legal and compliance services.
This results in client-service firms missing out on the innovation and best practices that come with the significant investment of capital and talent. It results in the proliferation of small firms in industries with no or just a few market leaders.
The smaller transitory firms that fill these voids vary widely in terms of standards and quality. Innovation and efficiency often take a back seat to survival for these firms.
At the same time, our extensive experience in professional services tells us that clients prefer firms that specialize in the particular problem they need to solve. Professional service firms that combine tend to gravitate to one or more services or problems to the exclusion of others. While there may be some benefits for the combined scale, the combined firm members no longer need to innovate in their own spaces. The focus on solving specific problems goes away. Eventually, the combined firm is not able to provide first-rate solutions. This is why we do not believe in acquiring and building a single unified firm is the right answer.
This is where TX-LW comes in. TX-LW focuses on client-service firms that provide legal and compliance services. We grow firms as standalone firms that are committed to delivering superior client services in their individual markets. We help them innovate, take advantage of technology and automation, and further develop their first-class client services. We provide back-office assistance and knowledge, but encourage each firm to remain independent and separate to focus on its services and clients.