Alternative business structures
Exclusive: now it’s Stobart Solicitors as well after SRA grants ABS licence
Famous logistics company Stobart Group now has a law firm to sit alongside its direct access barrister service, Legal Futures can reveal. The Solicitors Regulation Authority has granted an alternative business structure licence to One Legal Ltd, which was set up by the company.
Direct Line outlines plan for ABS in partnership with Parabis
Direct Line Insurance Group plc is to partner with alternative business structure Parabis Law to launch a wholly owned law firm, it announced yesterday. The insurer will offer a range of injury and non-injury services to existing and new customers.
ABS to relinquish licence after acquisition
A specialist public sector law firm is set to relinquish its alternative business structure licence after being acquired. London-based TPP Law has been bought by Geldards as part of the regional law firm’s bid to grow a national public services practice.
ABSs face fines of up to 2.5% of turnover for serious misconduct
Alternative business structures with a turnover of more than £2m face fines of up to 2.5% of their turnover in cases of serious misconduct, under plans being considered by the Solicitors Regulation Authority.
Accountants become ABS to offer clients complete service
An accountancy firm for contractors, freelancers and self-employed professionals has launched its own law firm as the “missing piece in the client service jigsaw”. Brookson Ltd – based in Warrington – is only the second firm of accountants to become an ABS.
White-labellers unveil accident management deal and hire of Co-op pioneer
Alternative business structure Quindell Portfolio plc has signed a contract to provide white-labelled accident management services to Renault UK. Meanwhile, the white-label arm of Manchester law firm Pannone has announced a major hire.
SRA targets risk in streamlined law firm and ABS authorisation process
Alternative business structures, law firms and sole practitioners looking for authorisation by the Solicitors Regulation Authority will for the first time fill in the same form as the regulator steps up its risk-based approach.
New entrants and ABSs “making inroads into market” through affinity deals
New entrants and alternative business structures have made their mark on the consumer legal services market by striking major affinity and partnership deals to win new business, according to an in-depth study of distribution relationships in place for legal services in the UK.
First ABS start-up reports strong first year with barrister-only model
The first start-up alternative business structure (ABS) – offering clients ‘early access’ to barristers – has smashed expectations in its first year and aims to be turning over £500,000 in the next 12 months.
Innovative ABS to package up legal services for financial advisers
A newly established alternative business structure (ABS) set up by two lawyers and a wealth management expert is set to package up legal advice for financial advisers to provide to their customers.
Blog
Beyond the PII premium – rethinking risk
Professional indemnity insurance renewal is often treated as an annual pricing exercise. But it is also a chance to show how effectively you identify, manage and mitigate risk.
The AI governance gap in law firms and why it matters now
A third of law firms are already using AI tools with no formal policy in place to govern how AI gets used, what data goes into it, or who’s accountable when something goes wrong.
Information isn’t oversight – lessons from the PM Law review
The PM Law review’s real findings perhaps point to a failure mode applying to any organisation sitting on scattered risk information.
Reports
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