For many attorneys, mass torts represent both an opportunity and a challenge. These large-scale cases can drive meaningful outcomes for countless numbers of claimants who have suffered harm, while also offering firms diversification and a new potential revenue source. On the other hand, the barriers to entry can make mass torts feel out of reach.
In this blog, we explore common barriers to participating in mass torts, how The Consortium for Mass Tort Access (CMTA) makes this more accessible, and what firms can expect from participating in CMTA. You’ll see exactly why 100% of CMTA participants would recommend it to their peers.
The Challenges: Potential Barriers to Mass Tort Access
Firms must consider several factors before choosing to participate in mass torts:
- Investment in a single tort: For many firms, the greatest hesitation lies in concentrating resources on a single tort, a risk that can be especially daunting for smaller practices.
- Financial risk: Lack of understanding of the tort timeline and visibility into its progress can often make firms hesitant to commit resources without a clear strategy.
- Uncertainty about where to start: Without tailored guidance, firms may struggle to identify which torts fit their profile and the processes needed to effectively and ethically source claimants.
- Limited collaboration: Too often, firms enter the mass tort space without the benefit of learning from those with expertise in the field or collaborating with peers who have faced similar challenges.
The Solution: A Collaborative Model for Access
Broughton Partners created The Consortium for Mass Tort Access (CMTA) to address these challenges head-on. CMTA makes entry into mass torts more accessible through three core pillars:
Personalized Consulting
Every firm has unique strengths, budgets, and growth goals. That’s why CMTA provides expert guidance tailored to each member’s specific profile instead of offering one-size-fits-all advice. One participant noted that the Broughton Partners team is “well-versed in the law and are experts at crafting a diversified mass tort portfolio. I trusted them through the whole process.”
Collective Buying Power
By joining forces, member firms leverage the group’s resources to access mass tort opportunities at a lower entry point. This reduces the financial risk so firms can craft diversified mass tort portfolios. As one participant shared, CMTA is “a good way to invest and diversify without putting hundreds of thousands in any one tort.”
Collaboration & Peer Learning
Through mastermind sessions, members connect with seasoned mass tort experts and like-minded firms to exchange insight and learn from one another’s experiences. This network effect ensures firms aren’t navigating the mass tort space alone. One participant explained that CMTA was “a good way to meet other attorneys with similar interests” and yet another participant shared that they were able to gain “knowledge of various projects that are outside of our typical practice area.”
Explore Mass Tort Co-Counsel Opportunities
At Broughton Partners, we understand that there are many considerations when it comes to expanding into new practice areas. Whether budget has been a limitation, or strategy has been a stumbling block, The Consortium for Mass Tort Access can provide a solution catered to your firm’s unique position and potential by offering a blueprint for success that balances both ambition and fiscal prudence. Engage with thought leaders and peers to find the solution that could set your firm apart in a competitive market. Contact us today to get started.
