alternative business structures

Green light for Deloitte expansion after SRA issues ABS licence

22 June 2018

Deloitte has been awarded its alternative business structure licence, some five months after announcing that it was to become the last of the Big Four accountancy firms to offer reserved legal activities.

Former hedge fund manager invests in law firm to challenge status quo

20 June 2018

A former hedge fund boss who wants a better service for those needing family law services is backing a multi-disciplinary law firm aimed at high net-worth individuals and family offices.

Credit hire and legal services group set to raise £25m from listing

18 June 2018

A group bringing together credit hire and legal services is to list on the stock exchange this week. Anexo Group has recently obtained an ABS licence.

DWF weighing up £600m listing on stock exchange

15 June 2018

Top-25 practice DWF is considering whether to become by far the largest law firm to list on the London Stock Exchange, it emerged today. The move would galvanise interest in law firms going public.

KPMG hit with £3m fine for Quindell audit failures

11 June 2018

Big Four accountant KPMG has been reprimanded and fined £3.15m by the Financial Reporting Council after admitting misconduct in its auditing of former personal injury alternative business structure Quindell. William Smith, KPMG’s ‘audit engagement partner’, was fined £84,000 after an investigation lasting nearly three years.

Numeracy skills “massively more important” for future lawyers, tech pioneer predicts

6 June 2018

Numeracy skills will be “massively more important in the new world of legal services delivery”, the co-founder of “legal engineers” Wavelength Law has predicted. He said there would be more solicitors in the future, as new technology and automation generated new kinds of disputes.

And then there were five: ABS pioneer Knights announces intention to float

4 June 2018

Pioneering alternative business structure Knights is the latest law firm to announce its intention to float on AIM, pledging to make three acquisitions in the next two years as part of its continuing growth strategy. Once it begins trading in late June, it will become the fifth law firm to list, hot on the heels of City firm Rosenblatt.

Personal pension provider sets up niche ABS

24 May 2018

A fast-growing personal pension provider has set up an alternative business structure (ABS) to provide legal services for its portfolio of more than 6,000 commercial properties. Gemma Millard, director of Rivergate Legal, said Curtis Banks had added the ABS to its panel of law firms but “ultimately” the new business could work for anybody.

US-owned medical reports giant buys law firm as part of accident management deal

22 May 2018

US-based medical reports giant ExamWorks – which owns leading UK provider Premex – has bought a personal injury firm as part of its acquisition of leading accident management group Kindertons. Jigsaw Law was originally a claims management company but was granted an alternative business structure licence in late 2012.

ABSs can facilitate criminal legal aid revolution, argues former justice minister

21 May 2018

The legal market is “totally fragmented, under-capitalised, technologically semi-illiterate and structurally redundant”, a former justice minister has claimed, arguing that a smaller number of big firms is the answer to the problems with criminal legal aid.

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20 June 2018

New tech on the block: what you need to know about blockchain

Blockchain. It’s been branded as the future of just about everything, and is soon expected to infiltrate all aspects of how we live our lives from banking, to tax returns to voting. But what is it, and how can it be used in property transactions?

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18 June 2018

Surely no one would do this?

It’s slightly tongue-in-cheek, but let’s see if we can design a business model that is doomed to struggle and which will ensure that we miss out on the profit and cash opportunities that come with providing high-value services at high prices in a near-monopoly situation.

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