If you are an attorney, ask yourself the following questions:
Can you easily refer all of your clients, both in-state or out-of-state, to other trusted attorneys for areas of law that you don’t practice and/or to states you are not licensed in?
Have you ever told a client that you couldn’t help them while seeking out other attorneys?
Do you have a steady network of current clients that you refer out without receiving referral fees?
Do you need more quality client referrals from other attorneys to help grow your practice?
If you answered “Yes” to any of these questions, then you need to know more about Overture Law…
Watch Our Interview with Arya Firoozmand, CEO of Overture Law
Most successful attorneys will tell you that their best cases come from referrals. Famed Author Richard Kiyosaki once said that “The richest people in the world build networks. Everybody else is trained to look for work.” Therefore, it is no surprise to me that many of the most successful attorneys I have known and worked with over the years have all had extensive and highly valuable referral networks.
But unfortunately for most attorneys, creating and leveraging these referral networks has been a complicated and challenging process due to rules, restrictions, and limitations on time, resources, and know how.
But all of that is about to change.
In the accompanying video to this article, we spoke with Arya Firoozmand who is the co-founder and CEO of a company called Overture Law that has set out to help change the world of attorney referrals forever. This new system, launched in 2022, now provides a national network for attorneys to easily send and received referrals and manage referral fees in one easy-to-use platform.
Overture currently helps manage and facilitate attorney-to-attorney referrals in every state of the United States with the current exception of Wyoming and Hawaii. Once an attorney becomes a member, they are then able to post and/or receive referrals from other member attorneys through the Overture System. Attorneys can select the right attorney for each client/case and once work is completed, the attorney who receives the referral is invoiced from the system with payment then deposited directly into the referring attorneys bank account.
Attorneys who wish to join this service can start by going to Overture Law’s website to signup for a new account. Once received, the team at Overture Law will setup a formal interview to check your background and needs to help determine if you are the right fit for this service.
There are no fees to become a service member and referral fee percentages are published in the FAQ section of their platform page for both transactional and contingency fee referrals. Clearly this concept is being well received already within the legal community with around 100-150 new attorney members signing up for this service each month.
There is clearly high value provided with a service like Overture Law and rarely do you see a clear win-win value proposition in such offerings – especially within the legal community. In this case, client’s win by receiving more effective referrals, especially for matters of an interstate nature while attorneys with more valuable and extensive client networks win by now being able to better and more confidently monetizing these connections thereby generating additional fees and income from existing resources.
For most attorneys, these benefits are evident, including enhancing their capabilities in marketing, facilitating improved sending and receiving of referrals, and effectively managing the associated fees. While this wouldn’t pose a challenge in most other industries, the reality is that a majority of attorneys still lack the systems and processes needed to connect more efficiently with other attorneys, particularly those outside their own geographic sphere of operation. Which means this new service may be leading us in a new direction…
Overture Law could finally interconnect the nation-wide legal community.
So, what are the overall impacts that Overture Law could have on the business of law? Most attorneys and Law Leaders members I work with tell me that networking, referral management, and generating quality referrals are at or near the top of their list of ongoing issues. And with around 1.3 million active lawyers currently operating in the United States, the impact could be significant and likely only the beginning of a much larger initiative to ultimately connect and better facilitate nation-wide networking and business management in an industry that has historically been plagued by state rules and regulations that have prohibited such innovation.
With services like Overture Law, my guess is this will only be the beginning of what could end up being one of the largest disruptions in the legal industry. Yes, legal Artificial Intelligence (Ai) will likely continue to dominate legal headlines in the months and years to come but while does, don’t be surprised when companies like Overture Law do something potentially even bigger for the business of law that Generative Ai cannot do with ChatGPT alone.
To learn more about Overture law and apply for membership, visit their website at: Overture.Law
– Dustin Ruge