Firm leaders are looking to expand in high-growth markets outside of Philadelphia to broaden their client base, diversify industry expertise and expand service offerings that are expected to drive growth in 2021.

That’s according to a recent advisory report by Citi Private Bank and Hildebrandt Consulting. Firm leaders in Philadelphia and across the country are placing their bets in high-growth markets—New York, Chicago, Boston and California—and a balance of in-demand practices and industry expertise—litigation, bankruptcy and financial restructuring—to stay competitive, according to Brad Hildebrandt, chairman of Hildebrandt Consulting and a report principal for the advisory.