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© Copyright 2017 by MP Media, LLC

Perfect

PARTNERSHIP

With over 40 practice areas, the firm’s total of 60+ lawyers 
have amassed one of the most impressive client rosters in 
the Southwest. And with soon leasing another floor in the 
Esplanade, it continues to grow even more. “Based upon 
interest we have received from outside attorneys wanting to 
join our firm to be part of our economic structure, our firm 
could easily grow to 70-75 lawyers within the next 12 months 
after our new space becomes available,” Tiffany says.   

A DIFFERENT MODEL

Long before the 1996 merger that created the firm, Tiffany had 
his own established and successful practice, as did Bosco and 
his father, Michael Bosco Jr. “I was looking for an alternative to 
the traditional law firm economic structure,” Bosco says. “And 
I found that Mike had that at his firm.” 

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 “I had developed the 

financial model in 1967 and it has been in place at our practice 
since then, with minor modifications suggested by Mark at the 
time of the merger,” echoes Tiffany. 

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 The proprietary formula 

differs from the standard operating procedure at most law 
firms because it does not involve a compensation committee, 
and instead of tracking seniority or other metrics, the Tiffany 
& Bosco model simply focuses on the mathematics.   In fact 
the firm does not have such a committee, because the system 
does not require one.  It follows an alternate economic model 
where profits are measured in each department. “We run 
our firm like a business,” Tiffany says.  Bosco concurs: “Our 
accounting system mirrors Corporate America. We look at every 
department based on profitability.”  In 
fact, even during the downturns, Tiffany 
& Bosco did not lay off any employees 
and actually grew during what was a 
down market for most law firms. 

THE

PARTNERSHIP

From the beginning, Bosco and 
his father along with Tiffany had a 
shared understanding of the type of 
organization that they wanted to build. 
“When Mike and I met and we agreed 
to merge our respective firms to form 
Tiffany & Bosco, P.A., we believed our 
concept would work well because we 
shared the same vision of what we 
wanted to accomplish,” Bosco says. 

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Over the years, Tiffany cannot recount 
one argument with Bosco. “We have 
always gotten along very well. Mark has 

been a great partner for me,” he says. 

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 Praise flows back to 

Tiffany from Bosco, as well as to his father. “My dad is a great 
partner, mentor in the law and a wonderful man,” he says. “And 
Mike has also afforded me another type of legal mentorship 
that has been very helpful.”

TRENDS TODAY

Both men see the legal environment as changing rapidly due 
to technology and the need to protect against communication 
disruption. “Communication is accelerating and we are more 
connected than ever,” Bosco says. “We are using technology 
to be more efficient.” 

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 Another big change, according to 

Tiffany, is the client’s position. “They are smarter and more 
sophisticated,” he says. “They are more knowledgeable 
and expect more than ever before.” 

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 “We also have made 

a significant commitment to serve and take care of the 
community in which we  live,” Bosco says.

LOOKING FORWARD

Besides their unique compensation model, the firm from 
inception has focused on controlling costs as a competitive 
advantage to their peers. “A comparable size firm might have 
overhead of $100,000-$200, 000 per attorney,” Tiffany says. 
“We have worked to keep overhead steady at $50,000 per 
attorney for 20 years, while still providing a state of the art 
operating platform, benefits and insurance coverages.” 

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 That 

frugality has allowed the firm to expand 
consistently and never reduce staff 
levels. “We always grow based on client 
demand. At times, available space has 
also dictated our growth,” Bosco says. 

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 For attorneys both seasoned and 

new to the profession, the potential is 
tremendous at Tiffany & Bosco. “We are 
very transparent,” Bosco says. “A young 
attorney’s chance for ultimate success 
is very high, if they are willing to make 
the proper commitment because you’re 
given a roadmap for success from 
day one. There is no guess work.” 

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For partners Tiffany and Bosco, the 
firm’s positive trajectory is built on 
a phenomenal partnership with core 
principles that drive superior results. 

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“We do what is best for our clients and 
understand that there is no substitute 
for hard work,” Tiffany says.