Steven Brodie, Co-Managing Shareholder, Miami Office, Carlton Fields
In an interview with Invest:, Steven Brodie, co-managing shareholder of Carlton Fields’ Miami office, discussed the firm’s expansion nationally while maintaining a strong Florida presence, economic opportunities in Florida’s legal sector, and noted the thriving insurance, health care, and construction sectors.
What have been some of the main highlights and key milestones for Carlton Fields in the last 12 months?
Carlton Fields has continued to see growth in our community and our practice, and we believe the future is very bright. We believe that we are uniquely positioned as a preferred alternative, being a firm that is over 120 years old, with a significant commitment to Florida. However, we have also expanded our national footprint with offices in Los Angeles, Hartford, New York, New Jersey, Washington, D.C., and Atlanta.
One of our core values is our commitment to cross-office and cross-practice group collaboration to ensure our clients receive the best service. Most of our partners are lawyers who worked their way up from associates, and many have spent their entire careers with us. This is because people understand the value of being part of a firm that emphasizes collaborative values, professionalism, community engagement, and the importance of maintaining a well-balanced family life.
What is your overview of the legal sector in Miami, especially in terms of trends or market dynamics?
After COVID-19, when people realized they could work remotely, we saw significant migration from the Northeast and Chicago to Miami. People are drawn to the benefits of Florida’s environment, the lack of state and city taxes, and its strategic position as a gateway to Latin America, South America, and Europe. As businesses have relocated to South Florida, national law firms have also opened offices here.
For those of us who have practiced here our entire careers, it is exciting to see the quality of growth in the business sector, particularly in innovation, real estate, and construction. Our firm has been involved in drafting many of Florida’s condominium laws and major land use projects. The population growth has resulted in new buildings, housing, and offices, driving economic expansion across the region.
When I started practicing law in 1981, there were only four office buildings in downtown Miami. By 2000, there were 30 cranes, which turned into 30 buildings. Today, there are another 30 cranes, a testament to South Florida’s growth. This growth has created an economic engine, supported by institutions like the University of Miami and Florida International University (FIU). FIU is one of the largest public universities in the country, and the University of Miami received over 40,000 undergraduate applications for just 2,000 spots, highlighting its appeal. These institutions are producing top talent, which is a great resource for businesses growing in the region.
Which industries and practices are driving growth for the firm?
We had our best year ever last year, and we have continued to see growth across our footprint. I chair our national insurance practice group, which started in the early 2000s and now includes over 60 lawyers. We handle some of the largest and most complex issues facing the insurance industry, with cases in over 25 states. Many of our insurance clients are opening offices in South Florida, seeing it as a place for significant growth.
Our healthcare practice has also grown substantially, driven by the influx of new residents and the need for health care services throughout Florida. We have a strong life and annuity practice, which is growing as more people look toward retirement and seek annuity and life insurance products.
Additionally, our construction practice is one of the top-ranked nationally. We have been involved in major projects, from football stadiums and hospitals to large land developments. Our real estate, construction, and finance practices are all benefiting from Florida’s growth. As a firm, we focus on markets with significant financial activity, ensuring we provide the best service to our clients on a national basis. We form client teams to understand their business plans and help them achieve their goals.
What are the common legal challenges or obstacles that your clients are facing?
Given the diversity of our practice, it is hard to pinpoint just one challenge. However, one area we have focused on is cybersecurity. We have been involved in developing protocols for companies to respond to cyber breaches and drafting insurance policies that provide coverage for cyber risks. We are committed to staying at the forefront of understanding these issues and providing guidance to clients on protecting their data and minimizing the risk of breaches.
When cyber insurance products were first launched, the general sentiment was that there are two types of individuals: those who know they have been breached and those who have been breached but do not know it yet. As businesses grow and gather more information, the risk of bad actors attempting to access that information increases. We see a constant need for our advice across various areas, and we are proud to be trusted partners to our clients, many of whom have been with us for decades.
What are some changes in the legal or regulatory environment under the new administration that could affect your work or your clients?
I spend a lot of time in Washington, D.C., and both Democrats and Republicans have unique perspectives. From a legal standpoint, I believe there will likely be fewer restrictions on businesses and less government enforcement from agencies like the U.S. Securities and Exchange Commission and U.S. Department of Justice. At the same time, there may be more opportunities for creative solutions in the legal and regulatory landscape.
What are the biggest challenges for Carlton Fields, and how do these challenges relate to what is happening in the wider legal industry as a whole?
From an insurance perspective, catastrophic losses in California and hurricanes in the southeastern United States have created challenges. In Florida, the cost of insurance and the ripple effects of catastrophic losses are significant obstacles. Insurance companies need to balance state regulations with the need to remain profitable. If premiums increase too much, companies may pull out of the state, putting a greater burden on public sector insurers like Citizens.
Another challenge in Florida is the cost of housing and transportation. South Florida’s traffic has increased significantly, making it harder for support staff to commute. This has reinforced the trend of remote work, which, in the long run, may not be ideal for the legal profession. Many firms are implementing mandatory in-office requirements, but compliance has been mixed.
I often tell our associates that if they want a job, they can work remotely, but if they want a career, they should come to the office. We believe in training the next generation of lawyers and ensuring they have the tools to succeed, which is harder to do remotely.
Despite these challenges, South Florida’s diversity is a strength. It brings multicultural experiences, enriching our community and workplace. We are committed to making a ripple every day to improve our community and profession.
