Market monitor

The conveyancing market is consolidating fast, with the big getting bigger and the small getting out, figures from the Land Registry have indicated. Some 1,300 fewer legal practices made applications to the registry for transfers in 2011 than in the previous 12 months.

Quindell Portfolio plc – the company which on Tuesday announced its intention to buy Liverpool law firm Silverbeck Rymer – has continued its acquisition spree by taking a 29.9% stake in a major accident management business which will feed work to the firm.

Liverpool law firm Silverbeck Rymer is set to become the first legal practice acquired by a listed company, it was announced this morning. AIM-listed Quindell Portfolio plc is to spend £19.3m on the leading personal injury firm.

An award-winning Brighton business law firm is to license out its brand and back-office support to solicitors who want to set up their own practices. The aim is to have at least 10 Acumen Business Law licensees in the south-east at the end of the first year.

Birmingham and Westminster city councils are teaming up with legal video conferencing business Instant Law to provide library users with free access to online advice, Legal Futures can reveal.

Law firms and other legal providers that offer consumers fixed fees “are likely to have a clear competitive advantage” over those that bill by the hour, new research has shown. It also forecasts that the legal market will grow this year, mainly thanks to larger law firms, with smaller ones struggling.

National law firm Irwin Mitchell has named the former vice-chairman UK of PricewaterhouseCoopers its chairman-designate as it continues preparations to become an alternative business structure.

Co-operative Legal Services (CLS) has begun staffing its family division after launching what it described as the largest recruitment drive in its history. CLS is looking to appoint up to 150 new positions. It currently has around 400 staff.

Our regular round-up includes the latest number of ABS applicants, an about-turn by the founder of Solicitors from Hell, Eversheds extending its partnership with Tyco, more cash for Rocket Lawyer, plus Manchester mergers, litigation funding and more.

Everyman Legal – the ‘virtual’ practice that last October became the first law firm to announce its intention to seek admission to a stock exchange – has announced plans to pioneer “business hub franchises” for solicitors.

Our regular round-up includes reports that Admiral is considering becoming an ABS, the SRA starting work on the referral fee ban, Labour’s latest LASPO amendments, the Information Commissioner mulling powers to force law firm audits, and a warning over getting involved in land-banking.

A number of companies are looking at registering their legal departments as alternative business structures (ABSs) in a bid to turn their in-house function into profit centres, it has been claimed. But there are difficulties to be addressed.

Consumers are generally happy with high street conveyancers and by contrast very cool about the idea of going to a big brand to help them move house, a major new opinion poll has found. YouGov surveyed 1,959 people who had bought a house in the last two years.

Co-operative Legal Services has confirmed that it intends to submit its bid to become an alternative business structure on 3 January 2012 – the day the Solicitors Regulation Authority will begin accepting applications.

Big four accountancy firm PwC is to explore whether to absorb its associated law firm and become an alternative business structure. Legal services is the one area of the firm’s work where it is not able to operate as a totally integrated practice.