A confidential, considered approach to your most important transaction
Selling a legal practice is not the same as selling any other business. Partner structures, work in progress, goodwill tied to relationships, and the regulated transfer of client matters all shape what your firm is worth — and how a sale is best handled. Rob Knights Practice Broking brings 50 years of professional services advisory to that process.
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A complete service for principals considering a sale — from initial appraisal through to a settled transaction. Tailored to the realities of a legal practice.
We manage the sale on your behalf — promotion, qualification and negotiation — so only genuine, qualified parties ever reach you, and you keep running the firm while the transaction runs.
An honest read on how the market will value your firm before you take any step towards a sale — and formal valuations where a defined purpose, such as partnership change or dispute, requires one.
Price, retention, transition and the treatment of work in progress, negotiated at arm's length on your behalf — so the deal completes cleanly and holds after settlement.
Your firm's identity stays protected throughout. Qualified, genuinely interested parties are approached discreetly, and nothing that identifies your practice is released before a confidentiality agreement is signed.
Most brokers value a professional services firm on revenue and a multiple. That misses what a buyer is genuinely paying for. After 50 years advising professional services practices, we understand the parts of a legal practice that move the number — and the ones that quietly destroy it.
Goodwill tied to one or two partners is fragile. We help you understand whether your firm is partner-dependent or business-dependent — because the difference shapes both the price and the deal structure a buyer will accept.
Recurring, embedded work is valued very differently to one-off matters. We look at the composition of your fees and client concentration the way an acquirer does, so there are no surprises when due diligence begins.
WIP, lock-up, and the orderly transfer of client matters are particular to legal practice. These details affect timing and value, and they are where poorly handled sales come unstuck.
The objective is not the most buyers — it is the right one. We bring vendors and purchasers together where there is a genuine cultural and commercial fit, and we do it without putting your firm or your people at risk.
Succession isn't an event you schedule for the year you want to leave. For most principals, it is a decade-long strategy — and the firms that prepare are the ones that sell well.
Few brokers show you how the process actually runs before you commit. We think you should know exactly what to expect. Here is the shape of a typical engagement.
An objective view of what the open market would pay for your firm — and what would lift that figure before you go to market.
Positioning the practice, assembling the information a serious buyer expects, and addressing value risks while there is still time.
Promoting the opportunity to the market to reach genuinely interested buyers — but releasing no particulars that identify your firm until a confidentiality agreement is signed.
Structuring and negotiating the offer on your behalf, through to a settled transaction, with you informed at every stage.
The questions principals raise most often when they first start thinking about a sale.
Earlier than most principals think. The firms that sell well start the conversation years before they go to market, not weeks. As a rule of thumb, speak to a broker who knows professional services at least twelve months before you want to be at the negotiating table. That window is what lets you address the value risks while there is still time to fix them.
Far more than a multiple of fees. In our experience four things move the price above all else: how much of your goodwill survives your departure, the quality of your revenue rather than its volume, how cleanly your work in progress and client matters can be transferred, and whether we can find the right buyer rather than the most buyers. A firm with the same fee line can be worth markedly different amounts depending on those factors.
It comes down to one question: if you walked away tomorrow, what would the firm be worth six months later? If the answer is very little, the goodwill is in you, and the firm is partner-dependent. If the answer is about the same, the goodwill is in the practice, and it is business-dependent. Business-dependent firms sell cleaner and closer to full price; partner-dependent firms tend to sell at a discount, often with earn-outs and longer transition periods.
The opportunity is promoted so genuine buyers can find it — in that sense the listing is public. What stays confidential is your firm's identity. We release no particulars — your firm's name, its financials, or any detail that could identify it — to any party until they have signed a confidentiality agreement. That lets us generate real interest without your clients, staff or competitors knowing your firm is the one for sale.
A well-run process from first appraisal to settlement typically takes twelve to twenty-four months. Some move faster and some take longer, depending on the state of the firm and how much preparation is needed. We treat the quality of the outcome as more important than speed, because a rushed sale almost always leaves value on the table.
Yes to the first, and there is no cost for the second. A first conversation with Michelle Knights is confidential and carries no obligation. The aim is simply to understand your firm, your situation, and whether we are the right fit for the work ahead.
We have spent half a century inside professional services firms — understanding what makes them profitable, what makes them saleable, and what buyers are really buying. That perspective is what we bring to a legal practice sale.
Fifty years advising accounting and professional services practices on profitability, structure, and value. The principles that drive a firm's worth carry directly across to legal practice.
We are building a network of buyers actively seeking acquisition opportunities across professional services. Every approach is made discreetly and only to parties we believe are a genuine fit.
A sale process can unsettle staff, clients, and partners if it is mishandled. Discretion is built into how we operate — from first conversation to settlement.
“Michelle was fabulous in helping to sell my practice: no-nonsense, no fluff, straightforward and always available. She communicated clearly and promptly and always did what she said she would do. The process was thorough and Michelle is honest, efficient and trustworthy.”
A practice principal
If you would prefer a direct conversation about your firm and your options — privately, before anything else — book a confidential session with Michelle Knights. No agenda, no pressure, no record.
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What drives the value of a legal practice, how a confidential sale runs, and the questions to settle before you go to market — including the particularities of WIP, trust handling and the regulated transfer of client matters.
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Download the Seller's GuideAt Rob Knights Practice Broking, we specialise in connecting accounting practices and financial services businesses with the perfect buyers or partners. Whether you’re looking to sell your firm, acquire a new practice, or explore strategic partnerships, our expertise ensures a seamless and successful transaction.
Explore our current listings to find the right opportunity for your business goals, or browse our past listings to see the success stories we’ve helped create.
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