Morris: Some choose to reinvest
The legal arm of AIM-listed professional services business DSW Capital is offering teams that join it an incentive of £50,000 per lawyer to set up their own practices on its platform.
DSW Legal already offers start-up working capital funding but the extra incentive is available to teams of at least three lawyers until the end of September.
DSW Capital, which owns a network of finance and accountancy firms under the Dow Schofield Watts brand, entered the legal market in November 2024 with a £6.1m deal for Surrey firm DR Solicitors [1], a fee-share firm focused on healthcare.
Since then, DR Solicitors has added 10 new consultants and grown revenues by 11%.
The umbrella DSW Legal brand was launched in May [2] when it hired James Mallender – formerly a director and head of recruitment at The Legal Director – as its managing director.
The aim is to provide “a scalable, supportive platform for entrepreneurial legal teams, combining operational independence with access to DSW’s brand, infrastructure and back-office support”.
Shru Morris, CEO at Dow Schofield Watts, said: “Taking the decision to start your own business, even with the backing of DSW, is never an easy decision and so our breakout incentive is designed to alleviate financial pressures and provide those wanting to take the next step with a softer landing.
“This particular incentive is for teams of three or more and is paid for each team member with no expectation of how it will be used. Whilst it is separate to any start-up funding we might provide, some do choose to reinvest it in their new business.”
DSW operates a licence model, under which the current 26 licensee businesses – with between them 146 fee-earners across 12 UK offices – can use the Dow Schofield Watts brand (though not all do), back-office services and access its network.
Mr Mallender said: “The success of DR Solicitors, and indeed the wider DSW group, is proof that our model works for ambitious and entrepreneurial people looking for greater autonomy and the chance to create something of their own.
“For those ready to take the next step, we provide the infrastructure, capital and support to do so in a way that significantly reduces the risk of going it alone.”
Ms Morris added: “DSW has always been focused on challenging the traditional model of professional services. We are building a network of entrepreneurial businesses where individuals have the autonomy to shape their own future.
“By extending this approach into legal services, we are creating a new pathway for high-quality teams to establish their own practices within a supportive, collaborative environment.
“We see significant opportunity in the market and look forward to welcoming the next generation of legal entrepreneurs.”