ABA Journal: More Firms Are Helping Lawyers Stress Less Over Money

In response to study findings that highlighted the financial stress young lawyers face, more law firms are incorporating financial well-being initiatives to boost their overall wellness programs. “We know that there can be multiple, diverse sources of stress that impact well-being, and several studies have shown that financial stress can be particularly challenging, especially given the strain felt by many in the current economic climate,” said O’Melveny partner and chief operating officer George Demos, who in 2019, led the creation of the firm’s Living Well program. O’Melveny wanted financial well-being to be a core component “to help our people deal with the unique financial pressures they might face, to prepare them for unexpected expenses and to get them on track for retirement,” Demos said. At O’Melveny, attorneys can connect with several outside providers to learn more about expense management and investing and estate planning, alongside personalized financial education and one-on-one sessions with wealth advisors to establish plans that align with their goals. “We’re committed to ensuring that everyone at O’Melveny feels that they work in a place where they’re supported and empowered to thrive,” Demos said. “Promoting holistic well-being—including financial well-being—is key. Not only is this the right thing to do, but when we help our people be their best, they deliver their best for our clients and our firm.”

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