Market monitor

McKenzie Friend Marketplace to ban “active” students from giving legal advice in wake of criticism

Fraser Matcham

The McKenzie Friend Marketplace, which hopes to help hundreds of law students find paid work offering legal services, has responded to criticism from practitioners by announcing that it will ban active students from providing legal advice – although they will be able to give clients other types of support.

March 28th, 2017

FOIL vice-president opts for Bar Standards Board to set up new business

Stephen Hines

A prominent solicitor-turned-barrister specialising in insurance litigation has set up a chambers under the oversight of the Bar Standards Board, which eventually will offer litigation in addition to advocacy. Stephen Hines is also the vice-chairman of the Forum of Insurance Lawyers.

March 27th, 2017

ABS update: Good news for Slater & Gordon, corporate services business sets up law firm, and more

Jason Spencer Crawfords

Slater & Gordon announced another sliver of good news, with the Australian Securities and Investment Commission deciding to take no further action following an investigation into whether the firm’s accounts had been falsified. We also round up other ABS news, including a law firm created by a London corporate services business.

March 24th, 2017

Online marketplace targets “hundreds” of law students to become paid-for McKenzie Friends

Fraser Matcham

A second-year law student in London has launched an online ‘marketplace’ for McKenzie Friends that he hopes will be boosted by “hundreds” of fellow students taking up the opportunity to gain practical experience and offer services to the public on a paying basis.

March 23rd, 2017

Law firm secures financial support from Welsh government to launch global anti-piracy business

CJCH Solicitors

A south Wales law firm has secured a £432,000 grant from the Welsh government to establish a global intellectual property anti-piracy business in Cardiff. The business – which will create 71 jobs by 2020 – is being spun off by CJCH Solicitors, which has expanded in recent years to include a standalone anti-piracy and compliance offering within its IP division.

March 23rd, 2017

Profits up but turnover down for NAH as Underdog faces being sent to his kennel

Underdog NAH

NAHL plc – the legal marketing business that owns National Accident Helpline – has reported a 15% increase in profits despite a small fall in turnover in 2016 that would have been significantly larger had the non-personal injury elements of its business not performed well.

March 21st, 2017

Good news at last for Slater & Gordon as new lenders want “solvent restructure”

Slater & Gordon sign

Shares in Slater & Gordon (S&G) soared overnight – albeit from an historically low base – after it told investors that its new lenders “fully intend to implement a solvent restructure of the company”. Its share price rose 46% to 13c, having dipped to an all-time low of 7c a fortnight ago.

March 17th, 2017

Metamorph heads south with deal securing trio of offices

Legal Futures Conference Nov16: Innovation

The expansion of consolidator Metamorph Law has continued after it took on the private client practice of a firm in Hampshire, its first venture in the south of England. Some 17 fee-earners and six support staff have set up new offices in Southampton, Lymington and Basingstoke.

March 17th, 2017

Online road traffic offences pioneer to launch private client service

Martin Langan

A solicitor and online legal services pioneer who developed the first automated system for clients to send briefs to counsel, is launching a private client service this summer that “enables people to pick and choose the legal services they need and want to pay for”.

March 14th, 2017

Legal market growth forecasts revised downwards as research finds it contracted in 2016

mechanical counter 2020

The value of the UK legal services market fell last year and there will only be modest growth over the next two years, with uncertainty over Brexit a contributing factor to researchers downgrading their forecasts, a new report has revealed. Large law firms have continued to see revenue growth, but medium and small firms have been hit.

March 10th, 2017