Rachel Davison joined the Taylor Wessing partnership in 2021. She shares her story, how she maintains her client relationships and tips on how to succeed with that all important jump.
How would you describe your progression up to the partnership?
This is probably common to most people, but I wouldn’t say it was a straight-line trajectory. Starting as an associate on day one, looking forward and being ambitious, which I always was, I sort of knew early on that, ideally, I’d like to become a partner. But it wasn’t a case of ticking the boxes each year, and then boom, year ten, I’m suddenly ready to become a partner.
Part of that journey, to use the cliché, was slowly but surely realising what all the different component parts are to being a partner and that appreciation over the years of the different skills that you need to have within your toolkit to be an effective partner.
There will always be times when you’re receiving constructive criticism, and it can feel quite difficult sometimes receiving this, but you need to learn and develop, and some things will be more natural than others.
How did you know you were ready?
For me, it was the moment when I no longer felt insecure about the thought of having the partner badge. It really came down to my client relationships and how those had developed, specifically how I was interacting with key clients and how they were looking to me as their trusted advisor and the first point of contact. It was that moment of realising when the client had a problem I would be the first person they called. They trusted me to do that, and I trusted myself to play that role for those clients.
That is such an integral part of being a partner, but it’s not the only part. You also need to be able to go out there and win work. Having built up a profile in the market and having referrals coming directly to me, I could see how I could develop this if I had the partner badge, and I was ready for that.
It wasn’t waking up one day and just saying, ‘I’m ready now’. It was that slow but sure appreciation that actually, I was effectively performing the role of partner, which I think is the ideal. You don’t want to be made a partner and suddenly be floundering around saying, ‘Oh my God, what do I do now?’. I think that’s a necessary part of it, that you feel you are operating at the level of a partner before you actually become a partner.
How did you build your client base?
I would say it was two aspects, the first being existing clients. I think a big mistake anyone could make is to say, ‘I’ve won those clients, I’m now the client partner, it’s done and dusted, so I must focus on new clients’, because existing clients continue to be the best referrals of new clients. When you start neglecting your existing clients or even seem not to be paying them attention, you’re really doing yourself a disservice in terms of your ability to win new clients from them. So that’s something I always do my best to keep an eye on. In terms of completely new clients (i.e., those that existing clients don’t refer) it’s all about contacts and trying your hardest not to let any go cold, which is easier said than done.
Time just passes so quickly, and you need to make sure that you’re not looking at your contact list and saying, ‘Gosh, I haven’t spoken to that person in six months or a year’ because that’s just way too long. There needs to be that continuity and that constant sort of engagement in whatever form that may be, if it’s updates, phone calls, going for a coffee, etc. But just so that when that matter comes into them, you are there in their mind because if you’re not there, you’re not part of the thought process. And you just never know where your next instruction might come from. I think what I’m realising as a partner is that new work can come from really weird and wonderful places.
You said that you keep up with all of your contacts. How do you manage that list in practical terms?
I suppose it’s a bit old-fashioned, but I have an Excel spreadsheet, and it’s kind of broken down by category. The US market is my central focus, so I have a list for the various ‘hubs’ making up the US private wealth market e.g. Miami, New York etc, and I have a list of the people who work in the US space. I literally look at it each week. I have a handwritten list in my BD to-do list, and it’s just putting their names so that I make some contact with individuals on my list, so that, as I say, they’re not going completely cold because it is quite hard to pick things up over a year, when you may as well be starting from scratch.
What strategies or activities have been most effective for you in building your client base?
I think it comes back to the earlier point about the lists. It can sound a little mundane, but I think it’s having that discipline of knowing you have to give a certain amount of time on a daily or weekly basis in order to keep all of the plates spinning.
Clearly there’s your fee-earning work, and I’ve talked about how fundamental it is that your clients are getting the best possible and highest quality service because your reputation rests upon the work you’re doing out there for your clients. But then also, there’s going out into the market and looking to win new work. I spend around 30 – 40% of my time on business development.
So, I think it’s being disciplined and not letting any one aspect completely take over, because that’s clearly bad for the business, bad for my role as partner, but also quite bad for one’s mental health because you’re always aware of the bit that you’re neglecting. Taking this approach then keeps you feeling positive about what you’re doing day to day.
Are there specific things that you prefer to do? Is it more coffees? Do you write articles, or prefer speaking slots?
I do all of them, and I’ve sort of upped the ante in terms of speaking slots because this is a great way to raise profile. You don’t want to let conferences take over though because speaking slots do take a huge amount of time in terms of preparation, but I think they are important.
It’s such an easy thing to provide comment pieces and use LinkedIn to share with those contacts that you’ve spent all that time nurturing. In a way that does the job of sending individual emails, albeit I think a personalised approach is necessary too.
Is there anything that you wish you’d known earlier or done sooner before you started on the path to partnership?
I slightly wish I’d taken advice given to me on board sooner. For example, the idea that being a good or hopefully an excellent technical lawyer is all there is to becoming a partner. And I do remember partner mentors saying, “but that’s only part of it”. I kind of wish I’d taken that on board sooner because I think the sooner you’re thinking more as a commercial person within the business, the better. It’s a hard message, and I don’t think I’m the only one to have been resistant to hearing it. We’ve all done well academically, and that’s always been the most important thing, and the attention to detail and being a good technical lawyer is hammered home, but then you reach a point, and it’s probably around three to four years qualified, where that becomes more of a given.
You still need to spend a lot of time maintaining technical/legal skills, but there’s so much more that you need to be doing if you want to become a partner. It’s not for everyone and we know that, but I think that if you realise that when you get to mid-level associate, the more helpful that will be. Because then you are thinking more with an entrepreneurial mindset of how are we going out there as a firm and me as an individual within the firm and carving out our space and winning new work? Because that really is such a large part of being a partner. So, yeah, taking on board that message, but in a really positive way, would be my advice.
I totally agree with you and I think it links with developing your own niche as well. I think that, as you say, being a good technical lawyer is almost a given in the industry. But what will stand you out from the crowd? For example, when should you develop your niche? I know that you focus on the US, amongst other things. At what stage of your career should you be thinking about that?
I think it can be really early on, but not to the exclusion of other things. By that I mean if you’re two years qualified and you’re developing an interest in a particular area, by all means, run with that, embrace it and try and get involved in related initiatives. But I wouldn’t at that stage be saying to a junior associate, that’s your sole focus. Because I think it’s so vital that you gain that broad experience across different areas within your discipline. But there is no reason at a really early stage not to be starting to think about what areas you enjoy over others.
By the time you’re getting to mid-level associate, by which I mean four years, five years, then I think it is time to ask yourself: Where are the areas that I’ve done more work than other people within the team or that I really enjoy or that I seem to be really good at? Okay, how can I take that forward and carve out that niche? I think it’s one thing saying this seems to be my area of expertise, but what are you going to do with that? Because you can’t rely upon a partner to suddenly say “this is your area, and we are going to give it to you”.
If you had to give associates who are looking to progress within the next 12 months one piece of advice, what would it be?
I think it’s everything we’ve just talked about but really evidencing your hunger, your enthusiasm and making sure people are aware of that and what you’re doing. It’s not just doing lots of work at your desk, it’s making sure you’re out there and communicating that with people – what you’ve been doing, how you think that’s helping the business and asking for support where you need it.
Most partners are so stretched that they’ll always be incredibly grateful to members of the team who sort of help pick up some of the load on business development. Never think that you’re treading on toes. That was probably a trap I fell into as an associate thinking I’m not a partner, and therefore I’m not the one who should be doing this. Not every firm is like TW, but generally I think most partners will just be grateful that someone is helping them with the load and coming up with ideas. It shouldn’t ever be an individual effort in my opinion. So don’t be afraid to show your ambition and your hunger to lead on things.
