Practice Management
Staff churn drops sharply as Knights reports positive results
Listed law firm Knights has significantly reduced staff churn, according to half-year results which showed a 30% rise in turnover to £130m, albeit most of it from acquisitions.
Clients demanding AI chatbots to “circumvent lawyers”
Large law firms are facing “increasing demands from clients” for AI chatbots to allow them to “self-serve and circumvent the need to direct all queries through lawyers”.
Government will put firms “at risk” with client account interest grab
The government’s proposed raid on client account interest “will put high street law firms at risk and force legal fees to rise for those that survive”, the Law Society has warned.
Two more acquisitions for leading PE-backed group
Two of the law firms owned by Lawfront, the largest buy-and-build group backed by private equity, have made their own acquisitions, in our first M&A round-up of the year.
AI tool aims to capture “invisible thinking” of lawyers
A legal tech startup led by a solicitor turned behavioural psychologist is aiming to capture the “invisible knowledge” of senior lawyers for the benefit of both junior lawyers and clients.
AI use and employee ownership trigger staff bonuses at leading firms
Staff at two leading regional law firms have been awarded significant bonuses – one for use of AI and the other for their work in an employee-owned practice.
Magic circle pay trainees less than US firms – and work them harder
The biggest City law firms are paying their trainees less than their US competitors but working them harder, according to new research showing how pay continues to spiral.
Don’t forget human support in the rush to digital, lawyers told
Both the structure and delivery of legal services – such as a lack of guidance and reactive communication – can cause difficulties for consumers, new research has found.
“Pre-budget inertia” costs listed law firm £3m
Listed law firm Gateley has estimated that “pre-budget transactional inertia” shrunk its revenue by around £3m, wiping out growth in its corporate department.
Year of M&A talks failed to find partner for historic Midlands firm
Midlands law firm Wright Hassall held talks with 28 possible acquirers or merger partners over the course of a year before being sold in a pre-pack administration to one of them.
Blog
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.
Mentoring the next generation of litigation leaders
As a female lawyer, from the North, with a state school education, I understand the value of sharing perspectives, experiences and contacts.
