Law firms failing to meet threat of market disruption, says report
Law firms are failing to respond to the disruptive effects of new entrants to legal services and continue to measure their success using traditional performance metrics, according to a report on market influences in 2015.
£1.2m in “irregular” payments made to Legal Ombudsman staff, says MoJ
The Ministry of Justice has declared more than £1.2m of payments made to staff at the Legal Ombudsman in the years since it was established to be “irregular”.
“I want to dominate the market,” says entrepreneur as he secures £12m funding for clin neg ABS
An entrepreneur has revealed plans to combine a claims management company, a consumer website and the clinical negligence department of a top 100 firm to form a market-dominating alternative business structure.
Conveyancers overtake family lawyers in complaints league table
Conveyancers have usurped family lawyers as the main cause of complaints to the Legal Ombudsman, its annual report has revealed. But it also urged lawyers to think twice before pushing for formal decisions rather than accepting informal resolutions to complaints.
International insurance group to launch ABS for corporate clients
Thomas Miller, an international group of companies providing specialist insurance, investment and professional services, is to launch an alternative business structure next month.
“Don’t merge to make costs savings”, says head of newly merged City firm
Law firms should not view mergers as a way of making costs savings, James Carter, managing partner of Charles Russell Speechlys, has warned. “Economies of scale will at best pay for the costs of merging over the next one or two years.”
LeO recruits team of 30 to tackle claims management complaints
The Legal Ombudsman has recruited a team of 30 to deal with the thousands of complaints about claims management companies it will receive from today, it has emerged.
Lord Chief Justice calls for independent review of legal market
There needs to be an independent review of the operation of the legal market to investigate whether the Legal Services Act 2007 is working and why fees have not fallen in the light of greater competition, the Lord Chief Justice said today.
Top 200 expect more consolidation – even though most think mergers to date have not succeeded
Fewer than half of managing partners at the top 200 law firms think that recent mergers in the market have been successes, new research has found – even though most expect major consolidation in the next two years.
Jailing of former Law Society council member damaged profession, SDT says
The jailing of former Law Society council member Michael Webster for a fraud offence last summer caused “significant damage” to the profession, the Solicitors Disciplinary Tribunal has said.
