Unfortunately for all of us, high profit margins are not necessarily guaranteed in the current market. This can be attributed to any number of individual, or a combination of many, factors; a majority of which are closely aligned with the increased levels of external competition.
Factors such as the decreased level of client loyalty, the competitiveness of panel membership, the growth of in-house representation and the pressures caused by the growing divide between the first and second tier firms, all contribute to the pressures a firm faces in its struggle to maintain profitability.
