Jimmy Adams, Managing Partner, Brooks Pierce

In an interview with Invest:, Jimmy Adams, managing partner of Brooks Pierce, discussed the firm’s expansion across North Carolina, evolving client needs, technology, and its approach to developing future leaders. “We are hiring for our future every time we hire somebody,” Adams said.

What have been the key milestones for Brooks Pierce over the past year?

The most significant milestone over the past year is establishing an office in Charlotte for the first time. We are a 127-year-old law firm. Historically, we started in Greensboro, established an office in Raleigh 32 years ago, and in Wilmington nearly 14 years ago. Last year, we brought on three litigation partners in Charlotte, and we’ll build from there.

From an organizational standpoint, that is clearly the biggest development. We now have physical offices in Greensboro, Raleigh, Charlotte, and Wilmington. We have always represented clients across the state, from the mountains to the coast, but having a physical office in Charlotte is new for us. Beyond that, we continue to focus on organic growth, taking care of our clients, and doing the good work we have done for 127 years.

What opportunities do you see as North Carolina’s major markets continue to grow?

Growth brings complexity, and more and more businesses need a legal partner who understands growing pains. Our attorneys see that play out every day, so the opportunities for the firm are endless. We are a full-service, business-focused firm doing everything from transactional work, mergers and acquisitions, intellectual property, and business litigation to trust and estate work. This is particularly relevant for clients dealing with significant wealth transfers, as demographic changes are driving what is forecast to be the largest transfer of wealth in U.S. history.

We also have a robust white-collar criminal practice, so we are positioned to assist businesses facing government investigations. We believe we are positioned to do essentially anything the business community needs.

Depending on which study you look at, North Carolina is either No. 1 or No. 2 for business in the country. I think we are No. 1. With the firm’s capabilities and presence across the state, we think the sky is the limit.

How have business clients’ needs changed amid the current economic and regulatory environment?

The challenges the business community has faced over the last 18 months have surrounded higher interest rates, which in some respects have tapped the brakes on economic and capital expansion. There has also been the impact on consumers and how consumer restrictions affect what businesses can and cannot do.

It has been my perception that there was a lot of capital sitting on the sidelines before the presidential election, with an expectation that there would be significant deployment of capital after the change in administration. Some policies coming out of Washington caused people to tap the brakes because things did not free up the way they expected, while interest rates remained high.

Now, it seems the current climate is the new normal. People are saying this is where we are.
Well, we have factored it in; we know where we are going; we advise our clients accordingly, and we can move forward based on current conditions rather than where people thought the conditions would be.

You can see capital expansion across North Carolina. In Greensboro, we recently had the JetZero groundbreaking, which will be a massive capital investment and do a lot for the aviation industry. There is growth throughout Raleigh, and it seems like there is always another company deciding to move its headquarters to Charlotte.

Wilmington is another huge opportunity. A lot of people are moving there, including retirees, and they are looking for local expertise in areas such as labor and employment, real estate, and transactions. We are positioned to facilitate that. North Carolina is not what it was 10 or 15 years ago. We are at the top of the heap right now.

What has driven Brooks Pierce’s longevity, growth, and reputation?

The thing that grows who we are is our people. Our people are what make us go, and that has always been the case. Over the years, we’ve been recognized as one of the preeminent law firms in North Carolina, not simply because of the name, but because of the people.

We continue working to make sure that reputation follows from generation to generation. You cannot last 127 years without passing down a dedication to quality and to having the right people. We always say our hiring is the most important thing we do because we are hiring for our future every time we hire somebody.

We expect the new lawyers we hire to eventually become partners and leaders in the firm. We have a roughly 90% to 95% retention rate, so we do not have many lawyers leaving Brooks Pierce for other places.

That continuity creates great synergies for our clients. They know who their lawyer is and who their team is. They do not have to continually invest in reacquainting a new group of people with their work. In some respects, that longevity can also save clients money because the same team retains its knowledge of the client and the work over time.

We are always looking for good opportunities and good people, both to grow and to serve different sectors of North Carolina’s business community.

How does the firm support companies establishing or expanding operations in North Carolina?

We have a robust government relations practice that pays attention to what is happening in and around government. When clients come to North Carolina, we help them navigate the state’s economic, regulatory, and real estate landscapes, among other issues.

People regularly call our partners and say they are interested in coming to North Carolina and need help understanding available economic incentives, finding a place, acquiring real estate, or setting up the business. Once they are here, we can assist with transactional work and employment relations, and if they encounter disputes, we can help with litigation.

It is pretty much soup to nuts, and it has always been that way. Particularly over the last 50-plus years, we have been in a position to provide clients with a broad range of services, and we continue doing that today.

How are you developing the firm’s next generation of leaders?

I have only been in this job a little over a year, but investing in the people coming behind us has always been part of Brooks Pierce. We try to operate as a partnership rather than simply as a business because that is what law firms historically are and have been.

We encourage the upcoming generation to become involved in leadership early to gain a full understanding of how the firm operates so we can pass down the same values that make the firm special. We give a lot of freedom to our partners and associates to make their law practice what they want it to be.

We have a flat organization and do not have practice groups because, in our experience, practice groups can be restricting. We try to give people as much freedom as possible while the firm provides support. When someone we recently brought on asked what I expected, I said I expected that person to do what they wanted to do. We are not cookie-cutter in any way.

The firm’s prospects are bright because we have great people. We are progressing in the same way previous generations did and trying to pass on what has always been successful for the firm. As long as we keep doing good legal work and showing the business community that Brooks Pierce is a place they can rely on, our future is bright.