Industry analysts are forecasting a modest year of financial gains for law firms headquartered in Pennsylvania, if any growth at all, as an uncertain transactional environment and the return of pre-pandemic expenses conspire to minimize the gains that made 2021 such a boom for corporate practices.

“The messaging by firms to their partners is that it will be one of the best years ever but it could be a down year,” said Owen Burman, segment manager for the Wells Fargo Private Bank Legal Specialty Group. “But it’s not anything they don’t already know.”

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