Attorney Harriet Alexson was recently profiled in the USC Law Magazine: Fall 2009, sharing her experiences of opening her own law firm.
Indispensable Insight
In boom times and bust, Harriet Alexson ’83 thrives on change
The nation’s economy has been on a roller coaster this past year and Harriet Alexson ’83 finds the ride exciting. A transactional attorney, Alexson has consistently shifted the focus of her legal career to keep abreast of economic changes and, in doing so, has built a highly successful practice in the financial services industry. Her experience from the real estate booms and collapses over the past 25 years give her the insight needed to advise her clients during today’s rough times. “I think it’s really important when you’re at the table with clients and adversaries negotiating loan workouts in this economy to be sensitive to the concerns of all parties,” Alexson says. “And you can do that when you’ve represented the financial institutions and the developer/borrower business community.”
Alexson began her career in downtown Los Angeles working with financial institutions. When commercial real estate woes beleaguered Southern California in the early 1990s, Alexson shifted her work to represent real estate promoters and developers. Her years of experience at large firms proved to be excellent training for her when she stepped out on her own in early 2005. “Having an institutional practice as a sole practitioner is unusual,” she says. “I considered how I could deliver legal services attuned to the same complexities that a large firm partner delivers, and do it cost effectively.”
Ultimately, Alexson found that advances in technology and the contacts she developed over her career provided the foundation for the boutique environment she wanted her clients to experience. Legal research tools, referrals for specific services and “of counsel” relationships have all supported her busy practice. “You can’t be comfortable referring attorneys to your clients without having worked with them,” Alexson says. “When you’re in the trenches with someone negotiating and documenting complex transactions, you learn how good they are. I think my institutional clients understand that I can be a great triage officer and place litigation cases with the right attorneys.”
Alexson’s energy level — she has studied ballet and other dance forms since grade school — and her experience developing business early in her career are other elements that allow her to thrive. Although her practice is based in Irvine, her clients are located throughout California. There are aspects of a solo practice that were new to Alexson, such as keeping abreast of her website traffic, attending to accounting and payroll chores and managing office equipment. “I’ve been frustrated with the administration aspects of the business,” she says with a laugh. Alexson found it more practical to delegate the aspects of her practice she doesn’t have time for, allowing her to devote her time to her clients and enjoying new experiences, such as hiring staff. “I’ve learned a lot about people,” she says. “I realize now that people have different skill sets. If you’re going to nurture and develop your staff and attorneys, you have to appreciate the positives.”
Reflecting on the momentous turns the world of financial services can take, Alexson is keen to write a book about her experiences. “I think many lawyers want to write the Great American Novel,” she says. “Whether non-fiction or fictionalizing some of my experiences and using the current economy as the backdrop, the book will be exciting.”
Alexson is married to Mark Sugar, M.D., and has four children. She resides in Villa Park, Calif.
–Maria Iacobo
