Market monitor
Sole practitioners ‘more profitable than small firms’
Sole practitioners have overtaken small firms with two to four partners in terms of profit per equity partner, a survey has found. Sole practitioners also led the way in fee income growth compared to larger firms.
Financial problems force major legal charity to close doors
A major London-based legal charity has shut its doors due to a worsening financial position, not long after unveiling ambitions for greater national coverage and digital services.
Call for greater transparency over small claims portal
MPs on the justice select committee have been urged to press the Ministry of Justice for information about the development of the small claims portal to be made public.
Strong results propel Keystone’s share price ever upwards
Keystone Law today announced annual results “comfortably ahead of market expectations” as its share price continues to soar, having more than tripled in the 18 months since it listed on AIM.
DWF unveils first acquisition since stock market listing
DWF has made its first acquisition since becoming a listed law firm, buying Polish practice K&L Gates Jamka for an estimated net asset value of £3m.
Gauke “hoping to make progress” on MoJ budget
David Gauke, the justice secretary, delivered an upbeat assessment this morning on his chances of boosting the Ministry of Justice budget after huge cuts. He also spoke about raising the judicial retirement age.
Consumers like law firms that publish prices, survey finds
A large majority (77%) of consumers are more likely to use law firms that publish their fees online, a major survey has found. A smaller majority (58%) would be prepared to use freelance solicitors.
Listed firm talks up benefits of equity participation for staff
Giving staff equity participation is proving a better way to run a law firm than doling out standard bonuses, listed practice Rosenblatt said today as it announced its first results since going public.
Insurers “should be already be monitoring” Civil Liability Act savings
The Treasury expects insurance companies will be already be monitoring savings from the personal injury reforms set out in the Civil Liability Act and the new regime for calculating the discount rate.
External funder backs litigation firm launch
A specialist litigation law firm with support from an external backer that means it can fund cases itself goes live today as an alternative business structure, Legal Futures can report.
Blog
Modern search is about ‘knowledge’ retrieval
Search has long been understood as data retrieval – the ability to call back information and check a box on finding something. Legal professionals today need more of a 360-degree view on a matter.
Lessons from Sir Keir Starmer for SRA chief
The proposed 29%, or £25m, increase in the Solicitors Regulation Authority’s budget announced last week should really come as no great surprise.
The hidden risks in client account reconciliations
The client account reconciliation process will be second nature to most people in legal finance – and so is also a potential area for a problem to be undetected until it becomes serious.
