Legal Beagles, a consumer rights forum, has launched a comparison website using its own research on fixed fees to decide which law firms are listed. Kate Briscoe, chief executive of Legal Beagles, said only around 500 firms published fixed fees on their websites.
Cambridgeshire financial advisers Beacon Wealth Management have used an alternative business structure to buy a local law firm. Tony Larkins, managing director of Beacon, said it had always been his aim to own a law firm and accountancy practice.
A new firm formed by some of the country’s best-known private client lawyers is promising to provide high net-worth clients with a service provided only by “exceptionally knowledgeable” senior lawyers.
Private client departments with fewer secretaries are more profitable, new research has suggested. The mini-survey found that firms with less than one secretary for every two fee-earners reported a gross profit margin of 52%, as against 44% for firms with a higher ratio.
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.
News round-up: Kennedys eyes investment, run-off cover call, Manchester firms’ growth stalls, and more
Our latest news round-up reports on City firm Kennedys’ likely need for external investment, Law Society lobbying over run-off cover, Mishcon’s new private client service, a review of Manchester firms’ financials and an anti-HSBC petition.