As has been the case for the last few years, firms located in large metropolitan areas on the east and west coasts continue to dominate the list. Two-thirds of the firms are located in just three areas: California is home to seven of these firms; the Washington, D.C. corridor is headquarters of five; New York claims four; Miami, Atlanta and Boston collectively are home to five of the firms. Only three of 25 firms can lay claim to being the best of the "interior" states – representing Houston, Dallas and Denver.

The $20 million to $50 million firms dominate the list, with two-thirds of the firms falling into this spot. This size firm typically has the management and marketing resources to focus strategically, yet is still nimble enough to move fast and take advantage of market opportunities. Aggressive billing rates, competitive salaries, and significant increases over last year define success strategies for these firms.

Seventy-five percent of the firms are more than 20 years old, and six have caught up to their counterparts in under 20 years in business. As a group, the firms grew an average of 23.1 percent compared with 14.7 percent for all non-national firms. They manage $2 million per partner, with fees per employee just over $209,000. They reported 25 percent growth in net income from last year – 80 percent greater than other firms.

"Best of the Best firms represent the top 25 in the nation who are pushing the right buttons and pulling the right levers to move the entire firm to a recognized level of excellence," said Michael Platt, IPA publisher.

Each of the hundreds of firms participating in IPA's annual survey of firms is eligible for the "best of the best" honors. Thirty-five management metrics are reviewed when selecting these firms, including net income per partner; revenue growth; income growth; profit margin; partner compensation; leverage; net fee per charge hour; staff turnover; management of expenses; and more.

The full list of the IPA Best of the Best  is available at www.plattgroupllc.com/bob2007.pdf. The list includes 25 honorable mentions.