Latest news
Property management company becomes first multi-disciplinary ABS
A London property management company has become the first multi-disciplinary alternative business structure. Crabtree Property Management is also the first company to use the ABS structure to enter the legal services market.
Hundreds of firms given preview of complaints data to be published by LeO
Hundreds of law firms have been sent details of the complaints information that the Legal Ombudsman is set to publish about them, Legal Futures has learned. However, it is still not clear when it will actually be published, after the July target was missed.
ABSs and City law firms could be a volatile mix to the detriment of all, consultant warns
The advent of huge amounts of “unthinking external capital into the fragile ecosystem of the legal profession” could create many unforeseen and irreversible effects among City law firms, a well-known consultant has warned.
News in brief: pre-pack saves law firm, Pannone’s white-label arm wins contract, and more
Our latest round-up includes the pre-pack sale of a Devon law firm, new business wins for Pannone and Gateley, the merger of big-hitting law firm consultancies, a new PII offering for small firms, and a bogus e-mail warning from the SRA.
Exclusive: leading non-solicitor probate provider becomes ABS
One of the country’s leading non-solicitor probate providers will today be unveiled as the newest alternative business structure. Kings Court Trust has chosen to be regulated by the Council for Licensed Conveyancers.
SRA finds support for outcomes-focused approach to referral fee ban
There is broad support for an outcomes-focused approach to implementing the ban on referral fees in personal injury cases, according to early indications from the Solicitors Regulation Authority’s consultation on the issue.
CMCs enjoy 33% income rise to £774m but standards plummet in PPI goldrush
Claims management companies saw a 33% increase in turnover to £774m last year, but standards are plummeting as they “fall over each other” to bring payment protection insurance mis-selling claims, their regulator has reported.
Cost dominates thinking of consumers when choosing solicitors, SRA research finds
The economic climate is exacerbating the focus consumers put on cost when choosing solicitors, early findings from Solicitors Regulation Authority research have indicated. However, there were also good signs for high street firms in the pull they have with their local communities.
Whatever happened to the ProcureCo – part 2
Ian Dodd of the Bar Consultancy Network responds to our article earlier this week on the apparent disappearance of the ProcureCo concept a little over two years after the Bar Council launched it with great fanfare.
Exclusive: now the Canadians target UK’s online legal services market
An online legal document business from Canada is set to launch in the UK this month, starting with a will which it plans to promote through group buying websites like Groupon, Legal Futures can reveal.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
