Avenue Blog

Marry a Lawyer? Proceed With Caution

By Dr. Fiona Travis

In recent years, some of America’s most popular TV programs and films depicted lawyers winning in court but losing in love. A distortion of reality, or do lawyers really have problems building and sustaining relationships? Regrettably, the image is accurate.

It’s not that lawyers lack relationship-building skills. But, overworked, overburdened and squeezed by time – and now, the worst downturn in two decades – lawyers do exhibit communication and intimacy breakdowns peculiar to their education, their professional training and work environment.

More to the point, the same traits that bring lawyers success in the workplace also interfere with their achieving meaningful, intimate relationships in the home. And the profession works a special hardship on women lawyers. According to an ABA study, a third of all women lawyers have never married as compared to eight percent of male lawyers, and nearly half of the women lawyers report being unmarried, compared to 15 percent of the men. Furthermore, compared to female physicians and college professors, women lawyers are less likely to be married, have children, remarry after divorce and are significantly more likely to become divorced.

As a psychologist who has counseled lawyers and their families for more than 20 years, it seems to me that lawyer marriages are in trouble … perhaps even more trouble than other professional couples.

There is no one explanation, but when one combines the lawyer personality with the lessons learned in law school, the combination makes for great courtroom drama … but is also counter-productive in an intimate interaction with one’s spouse. The biggest obstacle is the so-called lawyer personality.

Individual lawyers may not have all the characteristics, but – when they’re honest – they will recognize that they possess such marriage-straining attributes as ambition, narcissism, skepticism, defensiveness, perfectionism and the need to be in control. Furthermore, on personality tests, most lawyers score high on the “thinking” scales and low on the “feeling” scales. And it’s not something that happens only after a lawyer passes the bar. It goes all the way back to law school, where one learns to argue, cross examine, stonewall, delay, outwit, and avoid showing weakness to opposing counsel.

According to Susan Daicoff, author of Lawyer, Know Thyself, “Some of the traits compromising the lawyer personality appear long before law school, suggesting that those who are suited to practice law self-select into the profession.”

In short, a disproportionate number of people who are less emotionally astute gravitate into the legal profession. Ironically, it is this same personality type that creates great lawyers.

Let me repeat, the same qualities that persuade juries and win cases can also work like acid on marital relations.

For example, a prosecutor or defense attorney comes home on Friday nights all hyped up and argumentative, as if they were still in court. Or a corporate or real estate lawyer engaged in intense negotiations finds it hard to switch to a different mindset at the end of the work-week. But regardless of the environment in which lawyers work, the demands on their time put even the strongest marriage to the test. In the words of Chief Justice William Rehnquist, “ … Lawyers who work harder (to make partner, to earn more money), and then tell themselves they don’t have time now for family and friends, are on a very slippery slope. They may think they are only postponing the opportunity (to be a better parent, a more loving spouse), but in fact they are sacrificing that opportunity.”

Non-lawyer spouses have their tasks, too. They must learn to deal with the sacrifices of time and intimacy that the spouse’s law practice demands. Such sacrifices may include cancelled or postponed vacations, time spent with the children and involvement in child-rearing decisions, minimal emotional support, lack of deep conversations about feelings, and little patience for working through emotional problems. Of course, another major threat to lawyer marriages is substance abuse, and many an attorney’s filial difficulties begin with after-hours drinking with colleagues. It’s a lawyer’s way of dealing with the high stress, but the practice also creates more stress for spouses.

Lawyers who choose not to become aware of how their work interferes with having a healthy intimate relationship at home are at a higher risk for becoming a divorce statistic.

So, how can lawyers be better spouses?

Listen with interest and without interruption. Don’t be a lawyer at home. Marriage should not be adversarial. It is not about “win at all cost” and “hardball ultimatums.”

Become aware of your style of argumentation. You do not have to win at home. Take note if your critique of spouse and children comes across as if your belief is the only truth, and there is no other way to view the issue at hand.

Make room for emotional support (especially if your spouse is a non-lawyer). Most lawyers are great problem-solvers, and they tend to rush in to solve family problems without considering their spouse’s feelings. This results in a disservice to the spouse, who feels that he or she hasn’t been heard or understood.

So, how do you leave certain behavior patterns in the office and adopt a more conciliatory behavior at home? To begin, it would be helpful to acknowledge that certain lawyerly goals and techniques are at cross-purposes with the behaviors that foster good marriages – for example, win (compromise), doubt (trust), cross-examine (discuss), argue (admit error), attack (accept fallibility in self and others), avoid vulnerability (concede), think for others (respect partner’s opinions and ideas), deny weakness (allow for vulnerability), hinder and delay (cooperate).

Lawyers, take note: Be aware that the adversarial, argumentative style that works at the office and in court works against you if used with your spouse and children. Awareness is the first step to successful change. So, practice taking a deep breath at the midway point between home and office, and as you exhale, let go of that lawyer style until you inhale it back again tomorrow on your way back to work. You are good at practicing law, try practicing love!

Dr. Fiona Travis, who practices in Ohio and is married to a former prosecutor, is the author of Should You Marry a Lawyer: A Couple’s Guide to Balancing Work, Love & Ambition. To order a copy, go to www.LawyerAvenue.com, and click on Bookstore.

Professional Women & the Executive M.B.A.

Professional women typically make up 30% of the class at top MBA programs, and 40% in part-time programs. But it’s a different story when it comes to executive MBA programs.

EMBA programs usually require a nearly two-year commitment of two long weekends on campus. For these programs, women make up less than 20%, and as low as 5% at some programs! The problems are three-fold: EMBA programs interfere with raising a family, women have a tougher time securing company sponsorship for the costly degree, and women often believe the degree won’t help them break through the glass ceiling.

Now, some leading business schools are reaching out to professional women by offering courses specifically for them. This week (Jan. 21), the Wall Street Journal this week identified six such programs:

Executive Program for Women Leaders. A five-day program launched in 2008 by Stanford University (www.gsb.stanford.edu). Cost: $9,200.

Moving From Managing to Leading: The Women’s Program at Babson College. A five-day program for women who are ready to transition into leadership roles or who are looking for added responsibility within their company. Cost: 5,9950. Babson (www.babson.edu) is located in Wellesley MA.

Women’s Director Development Program. Northwestern University’s Kellogg School of Management (www.kellogg.northwestern.edu) has one of the few programs in the country preparing women who want to serve on boards of directors. A 2 1/2-day program; cost $5,500.

Strategic Leadership for Women. Launched more than six years ago by Switzerland’s IMD (www.IMD.ch), the first European business school to offer an executive program for women. A four-day program; cost $8,972.

Global Leaders Program for Women. Sponsored by the Smith/Dartmouth College’s Tuck School of Business (www.tuck.dartmouth.edu). The New Hampshire-based program provides an international perspective for women seeking to move up the corporate ladder. Cost: $8,200.

A New Path. Taught by Harvard Business School faculty, the program provides career-development help for senior professional women who are rethinking their careers or who are eager to return to the workplace. A week-long program; cost, $5,000. For details, go to www.exed.hbs.edu.

The Greatest Lawyer Movies

What are the greatest lawyer movies of all time? In online discussions recently, the legal community achieved consensus on 20 that we list here in alphabetic order (and one of our personal favorites, #21). Curiously, the 1950s and 60s produced nearly half of the “greatest lawyer movies”, including two cinematic giants in 1957 — Witness for the Prosecution and 12 Angry Men. So, if you need a movie fix this weekend, look no further than these legal dramas:

1. A Civil Action (1998) – John Travolta
2. A Few Good Men (1992) – Jack Nicholson, Tom Cruise
3. Anatomy of a Murder (1959) – James Stewart, George C. Scott
4. And Justice for All (1979) — Al Pacino
5. A Time to Kill (1996; Grisham adaptation) — Samuel L. Jackson
6. Devil’s Advocate ( 1997) – Al Pacino, Keanu Reeves
7. Erin Brockovich (2000) – Julia Roberts, Albert Finney
8. Inherit the Wind (1960) – Spencer Tracy, Frederick March
9. I Want to Live (1958) - Susan Hayward
10. My Cousin Vinny (1992) – Joe Pesci, Marisa Tomei
11. Philadelphia (1994) - Tom Hanks, Denzel Washington
12. The Firm (1993; Grisham adaptation) – Tom Cruise
13. The Verdict (1982) – Paul Newman
14. The Wrong Man (1956) - Henry Fonda
15. To Kill a Mockingbird (1962) – Gregory Peck
16. True Believer (1989) - James Woods, Robert Downey Jr.
17. 12 Angry Men (1957) – Henry Fonda, Lee J. Cobb
18. The Caine Mutiny (1954) – Humphrey Bogart
19. The Man Who Shot Liberty Valance (1962) – James Stewart, John Wayne
20. Witness for the Prosecution (1957) - Tyrone Power, Charles Laughton
and …
21. Michael Clayton (2007) - George Clooney, Sydney Pollack

The Upside of Outplacement

By Sheila Nielsen, JD/MSW

What are the two words you don’t want to hear in the worst economy since the 1930s?

You’re fired.”

Let’s face it, though: More than at any time in recent memory, that’s the reality for associates in practice groups without enough work, for associates and partners whose contract position is not being renewed, and for partners without portables.

But all is not lost. After all, your firm’s professional development person did say something about outplacement options. Which means you can choose to work with a career or outplacement counselor. But which counselor is best for you? What’s more, how do you conduct a productive job search with a job market in deep freeze?

Here are eight points to consider:

1. Your Counselor Should Help You Talk About What You’re Going Through

Maybe “outplacement” sounds nicer than being fired or being let go, but it hurts just as much.

Most attorneys asked to leave their firms after working long hours and doing their best to succeed, feel a justifiable combination of betrayal, embarrassment, anger, and/or depression. In fact, some lawyers can become clinically depressed from job loss. To the point where it’s hard to get up in the morning, and harder still to take the steps necessary to conduct a job search. In fact, some lawyers I’ve worked with feel such a sense of shame that they cannot tell anyone that they are looking for a new job. And others are so adrift they turn to alcohol or drugs.

A good outplacement counselor should encourage you to vent about whatever discomfort you are experiencing, including anger, frustration, sadness, self-doubt, and/or embarrassment. It helps to air your feelings, and to express yourself outside of the confines of the law firm. If your counselor is a trained therapist, all the better; if not, your counselor must at least be capable of identifying a clinical depression and help you to get medical attention for that condition if it does occur.

2. Your Counselor Should Help You Improve Your Game

One of the most important things you want to learn from outplacement is why you might have been let go in the first place, and how to avoid the same fate later.

Your outplacement counselor should help you find out why your workplace targeted you, what made you vulnerable, and to help you recognize and overcome whatever problem(s) might have led to your loss of this job. An employer will rarely if ever tell you this directly.

I have worked with associates who, fairly or not, did not have the partners’ trust to work at their class level. As a result, the associate was passed over, and the partner(s) used associates they believed to be more capable. Perhaps the associate made too many mistakes, perhaps they expressed uncertainty about their ability to handle matters, perhaps they were slow to turn the work around, perhaps they performed with too many errors. Or, perhaps the associate asked a few too many questions, leading the partners to use another associate who performed more efficiently.

A good outplacement counselor is able to read between the lines when given somewhat “coded” information about the outplaced associate or partner. A good counselor will work with that lawyer to improve his or her game as well as to demystify the often-opaque reviews that sound reasonably good but actually reflect an individual’s shortcomings.

The kiss of death for many partners is their lack of business origination.

I have worked with many partners who were let go because they did not know – nor want to know – how to develop business. Unfortunately, many of today’s more senior partners entered the workplace before business development became a requirement for job security. They never learned how to build practice, and some would like to avoid business development in the future as well. But, depending on one’s practice area, client-development has become a necessity. When appropriate, a good outplacement counselor should do some basic client-development training. In the event you need to develop business, you will know more about what to do, and, better yet, you can start laying the groundwork for future business once you begin your new job.

A good outplacement experience includes coaching to learn more productive ways to deal with workplace situations that are problematic for you, and ways to manage or cope with such problems as procrastination or organization and time management. If you get nothing else out of your outplacement experience, this knowledge about how to change your game for the better is worth its weight in gold.

3. Your Counselor Should Help You Assess Whether to Leave the Law and How to Make That Transition

Another question that may need addressing is whether law is even the right game for you.

After being let go, it’s only natural you would wonder if your choice of a legal career was a mistake. After all, practicing law does not meet everyone’s needs. Some lawyers who are outplaced say they have not been enjoying their jobs, and maybe it showed. I have worked with disappointed lawyers who tell me their dream had always been to do something to make the world a better place. But in most law firms lawyers rarely have a mission that satisfies that wish, and pro bono work is hard to manage when you are an overworked associate or partner.

Doubts about a career in the law also arise from other common sources of dissatisfaction: long hours, billable hours, lack of a work/life balance, difficult partners, demanding clients, lack of interest in the law itself, and the workplace culture itself. Many of these stressful concerns will prompt soul-searching about whether to continue as a lawyer. Outplacement can be an opportunity to look at other prospects for a future career and identify a more meaningful direction.

Careers work best when you get to do more of what comes naturally to you. And in the course of outplacement, you will want to look for a career that allows you to be immersed in the work, and that you enjoy what you are thinking about and doing for much of the day. You want a career that maximizes your aptitudes, interests, skill set, and provides the lifestyle you need to be satisfied.

Not all outplacement counselors know how to assess the issue of career-change effectively. Done well, self-assessment work is a mixture of vocational counseling and insight-oriented work. And yes, it can at times even border on therapy! Your counselor should be able to guide you through a process that includes a work history and personal history, as well as a series of exercises that allow you to think outside the box about work that would be a better fit. If you are considering a new career direction, you will benefit from a counselor who has worked with many lawyers and helped many of them to launch new careers or change their practice area or move into a different sector of the field of law such as government, not-for-profit, or trade associations.

Recently, I worked with a conflict-avoidant litigator. He’s bright, soft-spoken, studious, thoughtful … and shied away from confrontation most of his life. It was as though conflict-avoidance was hardwired into his DNA. And this failure to confront, argue, and aggressively litigate was seen as a serious weakness, of course, and he was eventually outplaced by his firm. Recruiters tried to interest him in similar positions, which is only natural for a recruiter to do since they earn their fee by finding jobs that fit the current skill set of a candidate. Fortunately, this lawyer took the time to do some self-assessment and wisely decided against pursuing another litigation position. Had he accepted one, it’s likely he would have failed again.

People cannot radically change a major personality trait. No amount of exhorting, even by Dr. Phil, will do the trick. Far better to help a lawyer move to a job where he can be a stand out for being himself.

A good outplacement coach ought to help an attorney with a case of severe career mismatch to identify likely places in the field of law where doing an excellent job does not require a personality lobotomy, and where the move is realistically possible to accomplish. This particular client left litigation for a government job where his strengths in investigation, research, and writing are all called into play. He enjoys his work, and is likely to be very successful.

4. Your Counselor Should Be Psychologically Astute & Realistic

Some vocational counselors will stop their work with a prospective career changer at the point when that person has identified a career direction that seems to be a better fit. But there is still more work to be done. The new career direction has to be something that is “doable” and realistic given the person’s situation. Would this career change necessitate re-credentialing. If so, can and will the person do that? What is his or her financial situation and home situation? Is the person motivated enough to make this change? These are just a few of the questions that the counselor should be assessing.

Many people say they want to change their careers but are ambivalent to the point of being incapable of making the change they desire. The psychology of ambivalence is complex. For example, some people dream about a new career but won’t take steps to further their dream. In fact the dream itself sustains them, and if it is challenged, or removed, the person may become depressed. Motivation to change can also be dampened by a fear of failure or lack of self-esteem. A good outplacement counselor should be able to recognize these and similar psychological issues, and help the lawyer work through his or her roadblock, develop a longer term plan for career change, accept that s/he is wedded to the status quo, or help them to add satisfaction through activities outside of work.

And even if the career-changer is motivated enough and can launch a viable effort to make a career direction change, most people need some form of continued coaching or guidance to leave the law and successfully transition into the new field. Without that support, many lawyers end up falling back into a job that might be undesirable for them but will pay the bills. Their doubts about the law often linger, and undermine long-term career satisfaction.

Many lawyers who take the time to assess the “rightness” of their legal career discover that, in fact, the law is a good avocation after all. That the grass is not always greener.

If you are unhappy at work, it might seem as if you need to get out of the law. But your dissatisfaction might vanish if you are able to work with a more compatible group of people, or lose the boss-from-hell, or work fewer hours. Some lawyers who take the time to assess their career direction will decide to stay in the law, but the difference is that they know more about what they need from the next legal job, and they make a well-thought out choice to stay. Not all legal workplaces are alike, and it is unfair to paint them with too broad a brush. An outplacement counselor should understand the legal work world as distinct from the business work world in order to guide a lawyer to a better-fitting job in the law.

5. Your Counselor Should Know How to Coach Your Job Interview

Doubts about being a lawyer are important to address if for no other reason than this: a good interview cannot be faked. People are too good at reading credibility for you to try to pretend you are thrilled at the prospect of working at a particular place when you really could care less. If you are not interested, your demeanor and body language subtly convey that disinterest, which has a negative impact on the interviewer. Even ambivalence can usually be detected by an astute interviewer unless you are a really good actor or actress.

Your outplacement counselor can help you to perfect your interview approach by doing a mock interview and asking you all the questions that usually get asked in a standard interview as well as any you are afraid a potential employer might decide to ask you. Your counselor should be able to help you answer all questions honestly, and with the strongest response possible as well as provide feedback on your demeanor and dress.

You should also be helped to craft a strong statement of advocacy punctuated by anecdotal evidence that supports your contention that you would be a good match for this job and why. The counselor should provide a framework for interviewing, and that framework should be shaped to the job for which you are interviewing.

6. Your Counselor Should Understand the Legal Market

It is possible that a different practice area, or a switch to government or another sector of the field of law, might satisfy more of your workplace needs, be a better match for your personality, and maximize your chances to land a job even in the current market. If so, you will need to understand how to make that switch. The success of such an attempted move may hinge on whether you can convince the next employer that it is a good idea to hire you even if your skill set is not a perfect match. What should you say to advocate for yourself? What should you say or not say about why you want to make this move? A good outplacement coach should be able to help you, and not simply insist that you stay in the same practice area.

Of course your coach also needs to help you to assess whether this career move is realistic given all the variables: the ability to transfer your skills, how well you can make the case for yourself, the economic climate, etc. You may need to shift your career in stages, developing a new direction by attending conferences, joining committees, doing pro bono work in your area of interest, or returning to school to improve your credentials for a new career direction.

Part of self-assessment is about “market need”.

For example, think of the job market in terms of “appetite”. When a particular market expands, it is very hungry and needy, and a transition into that market is easier. During the dot.com era, lawyers without perfect credentials moved into that rapidly expanding field in a fairly wide variety of roles from in-house to business side to IT. At the moment, we have a legal job market many of whose practice areas have little or no “appetite”. Which means that career transitions will be limited and employers will be very picky. There may still be need, however, in bankruptcy, benefits, IP, and litigation, and markets in Asia may still be hungry for lawyers in certain practice areas that reflect continued growth rather than contraction.

But because we are in a recession (and edging towards what some economists say is a depression), a radical career transition that might have been possible before may have to be worked on for a longer time, and even landing a job in the same practice area could be a challenge requiring job search strategies that might not have been so crucial to success before this meltdown began. And by search strategies, I mean strategies that go beyond mailed resumes, answering ads, and the usual networking tropes.

In the economic climate we now face, companies and law firms will be less likely to use recruiters if and when they have a need. To be successful in this extraordinary market, a job seeker must use more advanced techniques and strategies for networking and will usually need more close coaching from the outplacement counselor as well.

Not every outplacement counselor understands how to teach attorneys more sophisticated networking search techniques. I base that comment on the numbers of lawyers I work with who report their prior or even current outplacement experiences to me, and say that they do not have a grasp of the kinds of more advanced networking strategies I am alluding to. As part of a more sophisticated networking search, for example, you need to tell a consistent story to the potential employer by utilizing informal interviews which are supported by your resume or bio.

7. Your Counselor Should Know How to Help You Tell Your Story

Your resume is your particular way of telling your story. There are few hard and fast rules about how to construct your resume, and it can be challenging for the job seeker to craft a resume that he or she feels confident about.

A resume needs to be crafted based on the particular job one is interviewing for, which means that the resume will usually highlight particular parts of your background depending on the position you seek. A resume might also have a different look depending on whether the job seeker is trying to land the same kind of job or is trying to move into a different field or practice area. Close attention needs to be paid to the transferable skills that a potential employer will need to see in order to give the job seeker a shot at an interview. The resume must be just right when it has the potential to get you into the pool of applicants that will be vetted for the job. A standard business-style resume is not always the best approach for a lawyer, and sometimes outplacement groups do not seem to know that. Your counselor should know that some law firms are more comfortable with a very readable chronological resume with an attached deal sheet, for example, and help you to craft that version of your background if you are shooting for that market rather than in-house.

8. Your Counselor Should Suggest Knowledgeable Legal Recruiters When Appropriate

If you create a relationship with a recruiter, it is important to tell him or her about any other search efforts you are engaged in so that they are not stepping on anyone’s toes. Good recruiters have to guard their good reputations because their livelihoods depend on the trust of their employers, namely, law firms and corporations. So you need to be honest with your recruiter. If you were let go because you were dealing drugs in the office lunch room, don’t say you were let go because your group was slow. On the other hand, if you need to move on because you blew a crucial deadline, and the sole partner you work with went ballistic and vowed never to give you work again in this lifetime, but your background is stellar in every other way, you should tell your recruiter about this aberration and see what she or he says about it.

Last Thoughts

Outplacement could be your best chance to get your career right Spend the time to vet your outplacement counselor. It is well worth the effort. Done the right way, your outplacement could assist you to avoid the dreaded pink slip ever again and set you on a course for a better future career.

– Sheila Nielsen, JD/MSW (www.nielsencareerconsulting.com), is a leader in the field of law career consulting, and has counseled more than 2,500 law clients over nearly 20 years. She is a trained social worker and former state and federal criminal prosecutor. Reprinted with permission.

Sheryl A. Odentz, M.A., Ed.M, CMF

New York City based, with a national practice. Career management for the legal profession. In 20 years, Ms. Odentz has counseled/coached more than 3,000 attorneys and other legal professionals from AmLaw 200 law firms and Fortune 500 companies, and helped them optimize their career potential. Ms. Odentz was formally trained in psychological counseling at Columbia University (M.A. and Ed.M., with honors and a specialty in Business and Industry). She is a Fellow in the Institute of Career Certification International. For more information, go to www.progressinwork.com.

A Toast to the Lawyer/Novelists of 2008

It’s been a good year for legal thrillers. And before the sun sets on 2008, we want to take a moment to look back and honor the eight current and former lawyers whose suspense novels were published this year, each them brimming with insider elements only a lawyer could love:

David Baldacci, JD (www.DavidBaldacci.com) – The former trial and corporate lawyer is the author of 17 novels, including this year’s NY Times bestsellers – Divine Justice and The Whole Truth.

Jeffery Deaver, JD (www.JefferyDeaver.com) – The former legal journalist and Wall Street lawyer is the author of 23 suspense novels, including this year’s NY Times bestsellers – The Bodies Left Behind and The Broken Window.

Joel Goldman, JD (www.JoelGoldman.com) – The former Kansas City trial lawyer is the author of five crime novels, including this year’s Shakedown. Goldman juggled his law and writing for about 10 years, finally retiring to write full-time in 2006.

James Grippando, Esq. (www.JamesGrippando.com) – The former Miami trial lawyer is the author of 13 legal thrillers, including three this year – Born to Run, Last Call and Lying With Strangers. Grippando is currently Of Counsel at the David Boies law firm.

Phil Margolin, JD (www.PhillipMargolin.com) – The former criminal defense lawyer is the author of 13 thrillers including this year’s Executive Privilege. Margolin retired from law to write full-time in 1996.

Steve Martini, JD (www.SteveMartini.com) – The former legal journalist-turned-lawyer is the author of 12 legal thrillers, including this year’s Shadow of Power. Martini practiced for 10 years before retiring from the law in the mid-1980s. His first novel was published in 1992.

David Rosenfelt, JD (www.DavidRosenfelt.com) – The former entertainment lawyer and marketing executive for Tri-Star Pictures is the author of eight thrillers, including this year’s Don’t Tell a Soul. Rosenfelt wrote film and TV scripts before turning to legal thrillers.

Michael Schein, Esq. (www.MichaelSchein.com) – The Seattle trial lawyer and former professor of American legal history is a first-time author with this year’s Just Deceits, a fact-based legal thriller involving John Marshall, first Chief Justice of the Supreme Court.

Sheldon Siegel, Esq. (www.SheldonSiegel.com) – A corporate and securities lawyer in San Francisco, Siegel is the author of six courtroom thrillers, including this year’s Judgment Day.

How’s your own novel coming along? We thought so. That’s why we recommend the weekend fiction workshop in April in Chicago, sponsored by SEAK, the legal education company. The workshop will be taught by lawyer/crime novelist Robert Dugoni. For details, go to www.seak.com and click on Writing Workshops.

Steering Clear of Investment Fraud

There are some 400,000 professionals providing financial advice in the US today. Bernard Madoff was one of them. Of course, the self-admitted author of a $50 billion Ponzi scheme is the exception, but his arrest this month doesn’t exactly inspire confidence in the others. So, how do you find a dependable (honest) financial adviser in these skeptical times? The Wall Street Journal recommends using fee-only advisers who charge an hourly fee, or a percentage of your portfolio’s value, or a fixed annual retainer. In addition, that you work only with certified brokers, planners, and insurance agents, and that you interview them critically with the following questions:

* What are your qualifications/credentials?
* Are you a Certified Financial Planner? If so, how long have you been practicing as a financial planner?
* Are you a Registered Investment Advisor?
* What other licenses or certificates do you have, and when did you obtain them?
* How are you compensated for your services? By the hour, by a flat fee, or by commission on the sale of products?
* What is your approach and/or philosophy of financial planning and investing?
* Do you sell/recommend specific investment products?
* What experience do you have working with lawyers or other professionals?
* Is there a minimum account balance that you require?
* What size accounts do you typically handle?
* How frequently do you review your accounts?
* Who will be the person(s) working on my account?
* May I have the names and contact information for 10 current clients for reference? You will then randomly select several to call.

And to help you sort the wheat from the chaff, here are some of the better-known and well-established designations you might see behind the names of financial advisors looking to win your business:

CFA (Chartered Financial Analyst). Awarded by the CFA Institute, this designation goes to investment professionals who successfully complete a rigorous three-year, three-exam program of study in the fields of portfolio management and investment analysis. While held by some personal financial advisors, the designation is especially popular among Wall Street security analysts and money managers who cater to institutional investors.

CFP (Certified Financial Planner). Awarded by the Certified Financial Planner Board of Standards to candidates who complete a personal financial planning curriculum, pass a 10-hour, two-day exam, and provide evidence of financial planning-related work experience. It is increasingly becoming the most well-known designation for financial planners.

ChFC (Charter Financial Consultant). To become a Chartered Financial Consultant, financial advisers must complete an educational program offered by The American College, which cover financial planning, investments and insurance, meet experience and ethical standards, and complete 30 hours of continuing education biannually.

CPA/PFS (Certified Public Accountant/Personal Financial Specialist). CPAs who wish to specialize in financial planning can go on to earn the Personal Financial Specialist credential from the American Institute of Certified Public Accountants by accruing at least 1,400 hours of financial planning business experience, committing to continuing education in the field, and passing any one of six qualifying exams, including those required to a CFP, ChFC or CFA designation.

RIA (Registered Investment Adviser). A financial adviser who has registered with the Securities & Exchange Commission or his or her state securities regulator to manage the investments of others. To become an RIA, advisers typically must pass the Series 65 Uniform Investment Advisor Law Examination administered by the North American Securities Administrators Association, or have earned one of the following certifications: CFP, ChFC, or CPA/PFS.

And to make sure you’re getting someone knowledgeable, search for a CFP at www.cfp.com. If you use a broker, check for disciplinary problems at www.pdpi.nasdr.com/pdpi. And if you want to find a fee-only adviser in your area, go to www.feeonly.org or to www.garrettplanningnetwork.com.

– Excerpted from Lawyers at Midlife: Laying the Groundwork for the Road Ahead (2008). Available from LawyerAvenue Press. Click on Bookstore.

Ranking the Executive MBA Programs

These days, tuition for executive MBA programs run $40,000 (Univ of Florida) to more than $136,000 (Univ of Pennsylvania’s program at Wharton). But do the most expensive programs offer the best return on investment? Emphatically not! This week, the Wall Street Journal published it’s first rating of the five-year ROI of more than two dozen executive MBA programs. Some big surprises: most of the schools that topped the list weren’t big brand names. In fact, the ROI for the executive MBA programs at Wharton, Cornell, Columbia, and NYU all ranked at the bottom of the list! Even Northwestern’s Kellog School of Management ranked only 12 out of 27. At the top of the list were Texas A&M, University of Florida, and Ohio State. Applications for most executive MBA programs are due early next year. Check out the Journal article (www.WSJ.com/MBA). Caveat emptor.

4.5% for a 30-Year Fixed-Rate?

Looking for a house, but waiting for the market to bottom? Don’t wait too long. Five or 10 years from now, when the financial crisis is a story you remember over a glass of single malt, first-time home buyers will look at this moment in time and realize the golden opportunity they passed up. Rates on 30-year fixed-rate mortgages are close to 5.5% now, and this week there are suggestions the Fed might soon drive them down to 4.5%! Pretty good for a 30-year fixed. So good, NY Times financial columnist Ron Lieber says it might be time to get off the sidelines. And if your credit score isn’t 720 or higher, he says, take steps for the next several months to improve your score and qualify for many of the best mortgage rates.

Travel News & Deals

Airline passengers are willing to pay extra to check a bag or reserve a seat with extra legroom. Now, United Airlines (www.united.com) is betting some of us will pay more to join fast-track security lines to qualify for PRIORITY BOARDING. At a dozen or so major airports, including Boston, Chicago, Denver, Washington DC, New York’s LaGuardia, Los Angeles, San Francisco) economy class passengers can now join first-and business-class and frequent flier elites in special “premier” lines for $25 each way … Snow has begun falling on ski slopes, and so have prices of lift tickets and luxury hotel rooms at many big destination resorts. The New York Times reports today that the STEEPEST DISCOUNTS can be found in Rocky Mountains whose destination resorts rely on visitors flying from distant locations. Aspen Skiing Co., says business fall 5-15% this year, and Vail bookings is already off 23% for the season.