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ABS brings together conveyancing with estate agency and financial advice

A solicitor has merged her law practice with the family estate agency and finance business in an alternative business structure that is thought to be the first in Cumbria.

April 8th, 2014 | No Comments »

ABS update: MDP gains licence, employee ownership move, NewLaw’s latest JV, Co-op “restructuring”

A multi-discipinary financial services group has obtained an ABS licence to complete its broad-based professional advice offering by bringing legal services in-house. Meanwhile, a specialist fertility law practice is considering using its licence to introduce employee ownership,

November 22nd, 2013 | No Comments »

Listed IFA business gains ABS licence to launch law firm

A firm of midlands-based financial advisers has received approval to set up an alternative business structure so as to extend its service to existing clients and drive revenue growth. It is a wholly owned subsidiary of listed independent financial advisory and wealth management firm AFH.

June 28th, 2013 | No Comments »

Bobby dazzler as financial advisers become first to launch own law firm

An East Midlands firm of independent financial advisers is building a law firm from scratch to provide a one-stop shop for clients after obtaining an alternative business structure licence. Bobby Dhanjal Wealth Management has launched Bobby Dhanjal Legal Services Limited.

February 8th, 2013 | 2 Comments »

Ombudsman prepares for ABSs after Parliament approves rule changes

The Legal Ombudsman has won approval for changes to its rules that bring them more in line with the Financial Ombudsman Service and so equip it better to deal with alternative business structures like Co-operative Legal Services.

January 14th, 2013 | No Comments »

LSB backs end to minimum salary and to IFA referral requirement

Controversial rule changes that scrap the minimum salary for trainee solicitors and allow solicitors to refer clients to tied financial advisers were approved last month by the Legal Services Board. In both cases the LSB found that there was no reason to refuse the applications.

January 10th, 2013 | No Comments »

Wealth manager targets ABS licence after major hire

Sports and media stars will be among the wealthy clients of a new alternative business structure (ABS) which has already made a high-profile legal hire while awaiting its operating licence. BlackStar Legal is associated with the tax and wealth management giant, BlackStar Group.

December 3rd, 2012 | No Comments »

Law Society tells solicitors to ignore SRA’s financial services reform as IFAs threaten JR

The Solicitors Regulation Authority’s decision to change the rules on recommending financial advisers to clients has come under fire from opponents, with the Law Society taking “the unprecedented step” of urging the profession not to follow the new provisions and IFAs threatening judicial review.

November 30th, 2012 | 1 Comment »

SRA set to reject solicitor lobbying and change controversial referral rule

The Solicitors Regulation Authority is to push ahead with controversial changes to the rules on referrals to financial advisers that will no longer preclude them from choosing those tied to particular institutions, despite opposition from the Law Society, SIFA and others.

November 27th, 2012 | Comments Off

New ABSs target high net-worth individuals and Yorkshire high street

A Mayfair-based private client firm that has close links to a wealth manager and a personal injury practice that is diversifying into other areas of law have become the first new alternative business structures in nearly a month.

October 18th, 2012 | No Comments »