Why Consulting Firms Are Buying Their Own Law Firms

What this episode covers

In this episode of Service Business Talks, Lucas and Luna explore the growing trend of consulting firms acquiring law practices to embed legal services within their consulting offerings. The conversation centers on McKinsey's creation of a new subsidiary, McKinsey Legal Solutions, which now employs over 200 lawyers in the US and UK. Lucas breaks down the numbers: McKinsey's clients are paying an average of 30% less for combined consulting-legal engagements compared to hiring separate firms, while the consultancy generates an additional $800 million in annual revenue from these bundled services. Luna pushes back on regulatory ethics concerns and whether auditors like Deloitte and PwC will follow suit. The episode also touches on the talent race for hybrid consultants with law degrees and how law firms are responding by launching their own strategy arms. A behind-the-scenes moment reveals how listener support funds the show's ad-free model. #McKinsey #ConsultingFirms #LegalServices #LawFirms #AlternativeLegalServices #BundledServices #ProfessionalServices #BusinessStrategy #LegalEthics #Deloitte #PwC #BigFour #Regulatory #Business #ServiceBusinessTalks #FexingoBusiness #BusinessPodcast #ConsultingTrends Keep every episode free: buymeacoffee.com/fexingo

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Frequently Asked Questions

How long is this episode of Service Business Talks with Fexingo: Consulting, Agencies, and Professional Services?

This episode is 9 minutes long.

When was this Service Business Talks with Fexingo: Consulting, Agencies, and Professional Services episode published?

This episode was published on June 2, 2026.

What is this episode about?

In this episode of Service Business Talks, Lucas and Luna explore the growing trend of consulting firms acquiring law practices to embed legal services within their consulting offerings. The conversation centers on McKinsey's creation of a new...

Can I download this Service Business Talks with Fexingo: Consulting, Agencies, and Professional Services episode?

Yes, you can download this episode by clicking the download button on the episode player, or subscribe to the podcast in your preferred podcast app for automatic downloads.