Legal Services Act

Gordon Dadds keeps the acquisitions coming with third deal in a month

Innovation Conference, Nov 2017

Listed law firm Gordon Dadds has made its third acquisition in a month in buying Cardiff firm Thomas Simon. The acquisition vehicle is paying £1.875m plus an amount related to net tangible assets. If all the turnover targets are met for the four firms it has bought since listing, Gordon Dadds will have paid around £20m.

February 19th, 2018

Cry freedom: SRA wants to become separate legal entity from Law Society

Law Society - Front2

Legal regulators have urged the Legal Services Board to use its review of the internal governance rules to give them greater independence from their representative bodies. The Solicitors Regulation Authority said the rewrite of the rules should allow it to become a “separate legal entity” from the Law Society.

February 16th, 2018

Small businesses shy away from “pricey” solicitors when facing legal problems, major survey find

Helen Phillips - Chair of Chesterfeidl Royal Hospital NHS Foundation Trust

Only 11% of small businesses consider solicitors to be good value for money, and most choose not to use them when faced by a legal problem, seeing them as a last resort, according to major new research. It also found that the annual cost of small businesses’ legal problems to the UK economy to be roughly £40bn.

February 15th, 2018

ABS update: Clifford Chance buys would-be ABS, private client firm enters regulation, PE-backed firms expand

Angus Houston

The plan by Carillion Advice Services to become an alternative business structure looks to be at an end after the business was bought by magic circle firm Clifford Chance. We also report on two private equity backed ABSs that have used their financial muscle to expand, and a private client firm that has decided to enter regulation with the CLC.

February 15th, 2018

Conveyancers see workloads fall for first time since 2011

Andrew Lloyd 2017

Conveyancers saw their first annual drop in workload since 2011 last year, with volumes down 12% to under a million transactions, according to new research. It also found that the number of conveyancing firms has dropped by 28% over the past decade.

February 15th, 2018

Consumer panel chair jumps ship to Legal Ombudsman after just a year in post

Dr Jane Martin

The Legal Services Consumer Panel is on the hunt for a new chair after the incumbent jumped ship after just a year to become a member of the Office for Legal Complaints, the body that oversees the Legal Ombudsman. Meanwhile, the Law Society has named the members of its new main board, a key part of its new governance structure.

February 13th, 2018

The countdown begins: Whiplash reforms to be introduced in April 2019

MASS conference and 25th anniversary dinner

The government plans to introduce its whiplash reforms in April 2019, it emerged today. The Motor Accident Solicitors Society said it has today been told that ministers have agreed for the personal injury reforms to be implemented from that date, with an initial focus on RTA.

February 12th, 2018

LeO rules out investigating complaints about unregulated providers using lawyers’ money

Competition and Markets Authority

The Legal Ombudsman has ruled out investigating complaints about unregulated legal services, or collecting data about them, without a new source of funding. The service said it would be “inappropriate” to use money raised by a levy on the profession for this purpose.

February 7th, 2018

The time is now for law firms to invest in new tech and delivery methods, says bank boss

James Tsolakis

The time for just talking about new ways of doing things in the law is over as clients “turn their backs on the pricing and delivery models that law firms have traditionally sold them”, a leading banker has warned. He said a “palpable shift” in thinking and serious investment in new technologies and delivery methods were now strategic priorities.

February 2nd, 2018

Exclusive: ABS starts to build portfolio of “local hero” law firm acquisitions

David Sedgwick Echelon

An alternative business structure launched at the end of last year to invest in profitable “local hero” law firms, has already taken over one practice this year and is on the verge of taking a share in another. London-based Echelon Law offers back-office support and has a particular focus on firms of one to three partners.

February 1st, 2018