Practice Management
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.
Law firm with 24 offices ready to expand beyond Yorkshire
The managing partner of a fast-growing, employee-owned Yorkshire law firm says it is ready to expand outside the county after opening a 24th office.
Move aside PE – “patient minority investors” target top law firms
The future of investment in the law will be more patient, minority investors who would appeal to the top 50 law firms, which to date have shown little interest in private equity.
“Why are law firms giving away stakes in their businesses?”
While it is not surprising that private equity is interested in investing in law firms, the real question is why law firms are giving away stakes in their businesses, a leading consultant has argued.
Blog
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
Recruitment, retention and reward in the legal accounts world
Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.
From ‘year zero’ to £6.5m – how a law firm found its second life
In 2018, I hit what I call ‘year zero’. On paper, Olliers Solicitors was a top-tier criminal defence firm but beneath the surface, I could see we were at a crossroads.
