Forget investing in banks. Lets look into investing in law firms! Is that a good idea?

SallyG answered 2 months ago …

My gut reaction is to be wary of law firms actively courting investors; they seem to be inviting conflicts of interest, even of unintentional.
As a consumer, in banks, in law firms, in tax accountants, in doctors, in hospitals--in short, for all confidential and serious personal business, I will always have as a first choice a local, individual provider with long-term presence who will be around and available and get to know me and my complete situation personally. We actually had a broker like that at the local Merrill Lynch office, believe it or not, but he took early retirement about 10 years ago as the company stepped up the pressure to rely exclusively on MER research (not completely impartial) and push MER products. His decision goes a long way to exemplifying what went wrong at MER (and possibly in more full-service brokerages), IMHO.
To get back to law firms, I don't believe they should be profit-driven, and being a public corporation is antithetical to that, IMHO.
Profit-making healthcare companies have run up costs for the consumer, interfered with giving Medicare the same drug-price negotiation abilities that the Veterans' Administration has, increasing the cost of that program and hence the potential federal deficit, and tried to limit citizens' choice of providers. I would hate to see that sort of thing happen to our legal system more than it already has.