Legal Services Act

Conveyancing chief calls on government to back post-Veyo portal as Land Registry unveils expansion plans

Eddie Goldsmith

The chairman of the Conveyancing Association has called on the government to create a new portal to help fill the void left by the collapse of Veyo. Eddie Goldsmith said conveyancing consumers suffered from a “lack of knowledge” about the process and he would like to see a “government initiative” to create an information portal.

December 7th, 2016

Gateley on the hunt for more non-legal acquisitions as it boosts partner share scheme

Michael Ward

AIM-listed law firm Gateley is keen to explore acquisitions of further non-legal businesses, it said yesterday as it announced that the revenue in the six months to the end of October was up by almost 19% on the same period last year. It has also poured millions of shares into an incentive scheme for partners.

December 7th, 2016

Cost of oversight regulator to profession set to fall again

Sir Michael Pitt

The Legal Services Board is to reduce its cost to the profession to the lowest level since the oversight regulator was established in 2009. Its draft business plan for 2017/18, published yesterday for consultation, anticipated a £150,000 reduction on the current year’s budget to £3.85m.

December 7th, 2016

ABS founders move into third-party litigation funding

Ferguson Financial pix at Flag Fen Business Exchange

The founders of an alternative business structure which helps insolvency practitioners to process mis-selling claims against financial institutions have now launched a litigation fund. It is being bankrolled by Steve Clark, founder of investment management company Omni Partners.

December 5th, 2016

London firm launches fixed-fee arbitration in bid to stem spiralling costs of divorce

divorce

A central London law firm has launched a fixed-fee family arbitration service in a bid to slash what it says is now an average £70,000 cost for divorcing people to reach a financial settlement. It comes as research shows those who have been through a divorce are less likely than the average to see lawyers as truthful.

December 5th, 2016

Firms “need to embrace commercial approach” to fixed fees

Jeff Winn LF 2016

Law firms are unnecessarily afraid of operating on fixed fees, and need to take a more commercial approach to how they market and price their services, according to the solicitor who created The Law Superstore. He said he had also found that firms do not monitor how much work their marketing generates.

December 2nd, 2016

NAH to spend £1.7m on restructuring PI operation in response to whiplash reforms

London Stock Exchange

National Accident Helpline is to invest £1.7m over the next year so as to accelerate changes to its operating model that will enable it to respond to the government’s proposed personal injury reforms. NAH’s profits will be hit in the short term and its share price took a significant hit as a result.

December 1st, 2016

Early test for will-writing firm that opted into SRA regulation to help protect clients

will 3

A man who tried to get a vulnerable client to loan him money – shortly after the will-writing firm he worked for became an alternative business structure – has been banned from working in the profession after it reported him to its new regulator.

December 1st, 2016

Slater & Gordon’s legal action over Quindell deal “has merit”, independent barrister decides

Open bank vault

Slater & Gordon has overcome the first hurdle in its bid to recover some of the money it paid for Quindell’s professional services division last year, after an independent barrister said its claim had merit. The Australian-listed firm began legal action in September.

November 30th, 2016

Consumer panel: We don’t need to be separated from the Legal Services Board

Elisabeth Davies lo res

There are “clear benefits” in the Legal Services Consumer Panel remaining part of the Legal Services Board, the panel’s chair has argued. Elisabeth Davies said the status quo allowed the LSB and the approved regulators to “access consumer insight on tap”.

November 30th, 2016