Practice Management
Largest law firms raise rates by 10% but cut staff
The top 10 law firms have raised hourly rates by over 10% to an average of almost £500 while cutting staff numbers amid growing concern about the impact of AI.
Regional consolidators outperforming rest of legal market
Regional law firm consolidators are outperforming other disruptive models in the market and also the biggest practices in the country, an analysis by PwC has shown.
Proposed LLP tax will be “big hit” on legal profession
A new tax on LLPs could be “a big hit” on the legal profession, the Law Society warned yesterday, with figures showing it would mean a 7% increase in the effective tax rate for partners.
Don’t be scared off by size of wellbeing challenge, lawyers told
Concerns about wellbeing in the law have been elevated to such a level that employers may feel overwhelmed by the thought of tackling it.
PE-backed firm set to move outside of injury work for first time
A private equity-backed serious injury firm is to move into other consumer law services for the first time with an “imminent” acquisition, Legal Futures can reveal.
PE-backed law firm expands referral network across country
An expanding West Midlands law firm, acquired this time last year by a private equity house, is to expand its referral service for smaller firms across the country.
Lawyers Who Care “breaking down barriers” for aspiring lawyers
The group Lawyers Who Care has arranged mentorships for 77 aspiring lawyers who have been in the care system in its first year, an impact report has shown.
Margins rise at mid-sized firms as role of interest income lessens
Mid-sized law firms have improved their margins for the first time since 2021 while also reducing their exposure to client interest income, according to NatWest.
PE-backed deal and reverse takeover lead latest M&A rush
The annual rush of M&A activity around the October insurance renewal season has included a private equity-backed deal and a firm buying another more than twice its size.
Law firm targets London growth after taking private equity
A 25-partner law firm has become the first mid-market practice in London to take private equity investment, with plans to grow both organically and through acquisition.
Blog
Fixed recoverable costs: Sacrificing justice for predictability?
The extended fixed recoverable costs regime is failing to achieve its stated objectives. Instead of promoting fairness and efficiency, the rules are creating anomalies that undermine justice.
Expectations keep rising, so prioritise client experience
Law firms are facing growing pressure to place greater focus on client experience or risk falling behind in an increasingly competitive legal market.
Want sustainable growth? Look to operational excellence
Many firms are being forced to reassess where growth will come from. Increasingly, the answer lies in operational excellence: creating capacity from existing teams.
