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Pitfalls of Client Retainers

Tech Tip #195: Three Pitfalls of Using Client Retainers

Most attorneys use client retainers to maintain positive cash flow for their firm. It’s important to be aware of the most common pitfalls associated with client retainers. If your firm is using retainers make sure you have the proper recording structure in place to keep track of all funds accurately, have a retainer replenishment method in place, and ensure that all retainer agreements are clearly stated. If you aren’t on top of these items it could create compliance issues for your firm. Read more for Easy Solutions for Improving Your Legal Client Retainer Management.

CosmoLex Team