Market monitor
Profession “on the cusp” of explosion in consultants
The profession is “on the cusp” of an explosion in solicitor consultants, an expert in a law firm regulation has predicted, saying the number of instructions about such set-ups has trebled.
Confirmed: No advertising campaign to tell public about whiplash reforms
There will not be an advertising campaign to let the public know about the new way to pursue whiplash claims through the Official Injury Claim portal, it has been confirmed.
Listed company buys specialist employment law ABS
A specialist alternative business structure has been bought by a listed company to boost its fast-growing national employment law business and compete with traditional law firms.
Law firm run as social enterprise aims to sit in “middle ground”
The founder of a not-for-profit law firm that operates as a social enterprise says he wants to sit in the “middle ground” between profit-focused law firms and the underfunded legal aid sector.
Setfords unveils second round of private equity investment
National profit-share law firm Setfords is embarking on the next stage of its development after taking on Series B private equity investment, with its original investor exiting.
Surge in income but not profits for smaller law firms
The average fee income per equity partner at law firms with up to seven partners rose by 29% last year despite the pandemic, research has found. But profit per equity partner was static, with margins tumbling.
Budget: Get ready for a very busy six months, conveyancers told
Conveyancers are facing more cliff edges and greater pressures on their practices following Chancellor Rishi Sunak’s decision to extend the stamp duty holiday.
Senior solicitor wins libel claim over misconduct allegations
A senior solicitor at the Environment Agency has won his libel action against the owners of a garden centre business who accused him of professional misconduct in prosecuting one of them.
NAH to step up transformation from claims company to law firm
NAHL – the listed company that owns National Accident Helpline – is to step up its transformation from a claims management company into a law firm, it told investors yesterday.
Lawyers’ lockdown “reflection” aids growth of consultancy firm
A consultant-led law firm launched shortly before Covid struck has said that “reflection” by lawyers during lockdown of what they wanted from their lives and careers has aided its expansion.
Blog
Change in regulator shouldn’t make AML less of a priority
While SRA fines for AML have been climbing, many in the profession aren’t confident they will get any relief from the FCA, a body used to dealing with a highly regulated industry.
There are 17 million wills waiting to be written
The main reason cited by people who do not have a will was a lack of awareness as to how to arrange one. As a professional community, we seem to be failing to get our message across.
The case for a single legal services regulator: why the current system is failing
From catastrophic firm collapses to endemic compliance failures, the evidence is mounting that the current multi-regulator model is fundamentally broken.
