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New Zealand’s legal sector in 2024 is valued at $4.7 billion, which is a rise of 1.2% compared to the figure 12 months prior.
With a relatively low market share concentration across the national industry (the top four firms are estimated to generate less than 40% of revenue), NZ Lawyer’s Fast Firms have seized on commercial opportunities and recorded remarkable growth in FY 2023–24, outstripping many of their larger competitors. These fastest-growing law firms have also triumphed over a sluggish economy and increasingly competitive legal landscape.
This success comes amid broader shifts in the regulatory landscape that have propelled the country’s legal services industry, driving revenue growth.
NZL’s Fast Firms of 2024 are critical contributors to the legal industry’s transformation, as highlighted in the 2023 ALPMA/Dye & Durham Australasian Changing Legal Landscape report:
Industry growth
72% of firms plan to hire lawyers in the coming year
41% of firms intend to recruit paralegals
35% of firms plan to hire for administration roles
Employee attraction and retention
32% of firms have a dedicated attraction and retention strategy in place
67% of firms believe that having a strategy would be beneficial
Popular retention strategies
offering flexible working arrangements
individually negotiated employment terms, commonly used by smaller firms
NZL’s examination of the law firm nominees’ breakthroughs in revenue, partnerships and general headcount enabled the team to identify the eight firms recognised as 2024’s Fast Firms.
The winners have proven themselves as legal leaders, prioritising innovative practices, embracing technology and strengthening their areas of specialisation.
Collectively, they have achieved the following:
Individually, the number of new partners added reached a high of 75%, while the number of fee earners stood at 50%. Additionally, the highest revenue growth rang in at 57%.
From small boutique firms to global organisations with a footprint in New Zealand, the fastest-growing law firms capitalised on new opportunities to secure their place on NZL’s list.
As the New Zealand Law Society documents in its 2023 annual report, the decrease in the number of New Zealanders per lawyer, from 326 to 312, suggests the lawyer supply is growing faster than the population.
This trend could intensify competition for clients among New Zealand’s 16,735 lawyers, driving them to differentiate themselves, as 2024’s Fast Firms have demonstrated.
Specialist legal recruiters highlight the importance of critical factors in propelling a firm’s growth, exemplified by 2024’s Fast Firms:
proactive in responding to a rapidly changing market
client-centric focus
right people in place to align with vision and culture
hiring and retaining top talent in a supportive and inclusive environment
strong brand
Managing director at Altitude Recruitment, Louise Hall-Strutt, says, “The pandemic has significantly accelerated the need for digital transformation, making it essential for firms to adopt new technologies and streamline their operations to deliver more efficient and effective services. Firms that successfully navigated this also strongly focused on staffing and branding.”
Adding to that sentiment, CoLegal’s managing director, Anand Ranchhod, stresses, “Firms will need a steady pipeline of work, which is partly driven by understanding the type of clientele they have and whether there will be growth in work from them. They also need staff with good business development skills and expertise to service the demand when it comes through.”
Reinforcing the mindset required to sustain impressive revenue and headcount growth in volatile market conditions, both industry experts emphasise that innovation, embracing technology, continuous learning and overcoming growing pains are crucial.
This year’s Fast Firms triumphed over stubborn challenges on both fronts.
“Leading firms are responding by building strong partnerships with legal recruiters, enabling them to source candidates proactively,” says Hall-Strutt on growing headcount. “Additionally, these firms recognise that in a competitive market like this, staff retention is just as critical as recruitment.”
While Ranchhod says, “To some degree, headcount growth is practice area dependent, but generally, firms still find it challenging due to a talent shortage for experienced lawyers. So many intermediate and senior lawyers leave for overseas opportunities or move into roles outside of firms, and fewer lawyers return to New Zealand.”
The construction and commercial disputes specialist continued its Fast Firm winning streak for the third straight year, driven by its high-profile litigation success led by the tight-knit team of directors Scott Russell and David van Hout.
With a rebranding to Russell van Hout to take effect in late 2024, the fastest-growing law firm has firmly set its sights on expanding its construction disputes practice and blazing trails in the country’s emerging class action litigation area of law.
“We’re at the forefront of developing cutting-edge law in the class action space in New Zealand,” says van Hout. “We were recently in the Court of Appeal defining the law on class actions and potentially heading to the Supreme Court. We’re actively shaping new law in this area.”
Several major cases contributed to the firm’s stellar FY 2023–24:
two appeal hearings in the Court of Appeal in New Zealand’s largest banking class action against ANZ/ASB by value (approximately $1 billion) and by plaintiff number (approximately 150,000 plaintiffs)
international defective product claims
complex construction defects claim over $9 million
construction disputes on some of New Zealand’s largest roading projects
enforcement of foreign judgements in New Zealand for unpaid debts over $100 million
Russell Legal has seen tremendous growth in the construction disputes space, due to its industry knowledge and solvency expertise. Many of its engagements on construction matters relate to insolvency and payment disputes.
An increased number of construction participants are fighting over the cost of construction, and clients often cite the challenging economic climate and issues of insolvency as reasons for the disputes arising.
Four cultural pillars have propelled the firm’s fast growth, encompassing values that the team lives and breathes:
continuous learning, iteration and progress
commitment to challenging each other and attaining mastery in their respective practice areasconnecting with clients by sharing kai, engaging in conversation and enjoying time together
determination, resourcefulness and tenacity
integrity and authenticity
“The firm places a high value on down-to-earth relationships within the team and with clients, and this genuine approach helps build long-term relationships and maintain a positive working environment, which is crucial in the often stressful area of dispute resolution,” says van Hout. “The big one is doing great work that supports a big life.”
Recognizing work-life balance is paramount at the fastest-growing firm; it celebrates its wins and ensures that everyone is empowered to enjoy work-life balance.
van Hout says, “This approach is designed to create a well-rounded and satisfied workforce that can bring their best to the firm.”
The Auckland-based two-time Fast Firm winner’s commitment to investing in leading technology to streamline legal processes and enhance client experience has driven its growth and expansion, which includes a second location in New Plymouth, which opened in 2024.
Convey Law’s proprietary practice management system, Honour.Law, is at the core of its evolution, enabling the legal team to deliver accessible and efficient conveyancing services throughout New Zealand. It currently has over 14,000 registered users.
The firm can generate an online fixed-fee quote in significantly less time than through traditional methods involving legal appointments.
“We’ve embraced technology and streamlined processes to deliver faster, more cost-effective services without compromising quality,” says director Jay Park. “We’ve fostered an environment that encourages teamwork, open communication and a proactive approach to problem-solving, as well as work-life balance with flexible working arrangements to support our team’s wellbeing.”
The firm established a new client care department in 2023 to better manage and serve its growing customer base.
Convey Law’s fast growth can be attributed to several factors:
specialisation: focusing on property law, especially conveyancing and subdivision, enables the firm to develop deep expertise and efficient processes, leading to faster turnaround times and satisfied clients
technology adoption: embracing legal tech has streamlined operations, enhanced communication and enabled the firm to scale its services. Its proprietary Honour.Law system allows automation of fee generation and client onboarding through pre-generated electronic forms
client focus: prioritising clear communication, transparency and proactive updates, ensuring clients feel informed and supported throughout the conveyancing process
strong reputation: positive client feedback online and referrals have contributed significantly to its growth, with 300 and counting Google reviews
“This unique blend enables us to deliver exceptional service, faster turnaround times and cost-effective solutions, setting us apart in the market,” says Park. “Our Honour.Law system further strengthens this advantage, allowing us to automate key processes and provide clients with a seamless and efficient experience.”
Its ambitious multi-year growth plan has already borne fruit with the opening of a new branch and a goal to establish branch offices in all major cities and regions throughout the country.
In addition, the Fast Firm seeks to expand its services within the property law sector by leveraging its expertise and technology infrastructure. It spends between 5% and 10% of its turnover on innovation and technology.
Its online conveyancing services have grown the most due to the increasing demand for convenient and affordable legal solutions, supported by a user-friendly platform, transparent pricing, and commitment to excellent customer service, which have resonated with clients.
“Strengthening our network is a priority for our future growth; collaborating with other practitioners to share knowledge and grow together,” says Park.
At Russell Legal, maintaining client engagement through clear communication and regular feedback ensures its client-first approach remains strong. The Fast Firm also leverages technology, such as AI, to deliver better service and efficiency.
“We’re currently looking at how we can integrate an AI into both our legal research tools and general practice management system,” says van Hout.
The firm aims to partner with leading experts in other fields, from construction to accounting, to ensure it achieves the best possible client outcomes. Guided by the concept of “better together,” they work with consultants and advisers to balance its fast growth as they continue to expand and position the firm as market leaders.
Convey Law’s Park emphasises balancing growth with other priorities requires careful planning and execution. The firm has achieved that with three top strategies around strategic hiring, tech investment, and client-centric processes:
attracting top talent by offering competitive remuneration, professional development opportunities and a supportive work environment
allocating resources to implement and integrate advanced legal technologies, freeing up time for the team to focus on client relationships and complex matters
designing processes to prioritise client communication and satisfaction, ensuring growth doesn’t come at the expense of client care
“We also recognise the importance of celebrating successes and fostering a positive team culture to retain our valued employees,” Park says.
NZ Lawyer invited submissions for its 2024 Fast Firms report on 3 June, as the publication sought to recognise the fastest-growing law firms in New Zealand.
The research team asked firms to list their revenue and headcount for the 2023–24 financial year, in addition to any other growth milestones they wanted to highlight. Global firms were instructed to focus only on the figures related to their New Zealand operations.
The NZ Lawyer team then evaluated the nominations to determine which firms experienced standout growth in revenue, partnerships, general headcount, and expansions. A total of eight firms made the final list of Fast Firms for the year, comprising both smaller boutiques and large global firms. All of these firms have demonstrated their resilience and cemented their strong positions in the New Zealand legal market.
