Practice Management
Apprenticeship funding cut will “undo progress” in profession’s diversity
Changes announced yesterday to how Level 7 apprenticeships are funded will undo “years of progress” in improving the legal profession’s diversity, the government has been told.
Government to restrict funding for solicitor apprenticeships
The government is to restrict funding for Level 7 apprenticeships, like the solicitor offering, to those aged between 16 and 21, it has announced.
Fee-share law firms continue to attract hundreds of new recruits
Two fee-share law firms have topped the table for hiring lawyers ahead of big traditional firms, as the model continues to attract new recruits in large numbers.
Sixth and biggest acquisition so far for PE-backed Lawfront
Private equity-backed Lawfront has made its sixth and largest regional firm acquisition to date by bringing in Trethowans, which has five offices in South and South-West England.
“Eyes-on, hands-off” – law firm boss calms fears over PE investment
Lawyers should not believe “everything you read” about the negatives of being acquired by private equity, according to the managing director of a Midlands law firm bought last autumn.
PE house outlines ‘sweet equity’ offer to keep law firm staff happy
Maintaining a route to the equity for salaried partners and senior associates is key to the smooth acceptance of private equity money at law firms, an investor has argued.
Commercial law firm to have name on Everton’s new stadium
Hill Dickinson has agreed the highest-profile sports sponsorship in legal history by securing a “long-term” naming rights deal for Premier League football club Everton’s new stadium.
Private equity boom pushes law firm valuations to “upper end”
Competition among private equity buyers has pushed the value of law firms to the “upper end” of their “legitimate range”, it was claimed yesterday.
Smaller law firms reject M&A in favour of organic growth
The proportion of smaller law firms considering merger or acquisition as a growth strategy has halved in a year to just one in 20, with a shift in focus to organic growth.
Knights adds Essex and IFA services in latest acquisition
National firm Knights yesterday announced its 24th acquisition since listing in 2018 with a £16.6m deal for Essex law firm Birkett Long that will take its annual revenues to over £200m.
Blog
Could unpredictable AI costs finally lead firms to true value pricing?
For years, the legal profession has talked of moving away from the billable hour to value-based pricing without quite managing it.
Is your Google Ads budget funding your competitors’ AI visibility?
If your cost-per-click has crept up again this year, you’ve probably assumed the market simply got more expensive. That’s the wrong way to read what’s happening.
Containing the spread of unapproved AI
Nearly 60% of fee-earners admit to using unapproved tools (like free versions of ChatGPT). Yet 68% of firm leaders are confident there is zero risk of unapproved AI being used for client work.
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