Minister tells lawyers to adapt to the “hard facts” of life
The legal profession needs to face up to “some hard facts” – including an oversupply of lawyers – that go beyond government plans for legal aid reform, justice minister Lord McNally warned yesterday.
Hudson questions SRA work on financial stability
The Solicitors Regulation Authority is biting off more than it can chew by trying to deal with the financial stability of law firms, the Law Society chief executive has suggested. He also said law firms would do well to be scared by new entrants to the market.
New alliance aims to help independent law firms compete with big brands
A legal business support firm and a legal training provider are creating an alliance to help independent firms resist the influx of big brand new entrants. 360 Legal Group, which works with around 700 member law firms, has joined forces with Central Law Training.
First ABS start-up reports strong first year with barrister-only model
The first start-up alternative business structure (ABS) – offering clients ‘early access’ to barristers – has smashed expectations in its first year and aims to be turning over £500,000 in the next 12 months.
Hudson’s pay falls as Law Society records £22.7m deficit
Law Society chief executive Des Hudson saw his remuneration package fall 16% last year, the society’s annual accounts have shown. The Law Society recorded a net deficit of £22.7m in 2012 – more than the £10m which had been budgeted for.
Criminal solicitors “losing moral compass” – and not just because of falling legal aid pay
Defence lawyers bear partial responsibility for miscarriages of justice, and better ethics training and spending time with ordinary people are as likely to reverse “moral decline” as boosting pay, according to new research.
Legal Education Foundation launches with grants to promote pro bono, education and social mobility
The charity created following the sale of the College of Law last year has today announced its first grants, with access to justice, the profession and education the focus. The Legal Education Foundation has a capital endowment of approximately £200m.
Innovative ABS to package up legal services for financial advisers
A newly established alternative business structure (ABS) set up by two lawyers and a wealth management expert is set to package up legal advice for financial advisers to provide to their customers.
The collapse of In-Deed should give hope to conveyancers
It came as a major surprise to many in the industry when In-Deed closed for business. Despite a difficult trading period, with over £1m in cash on its balance sheet the company appeared in better health than many conveyancing practices. The closure marked a swift rise and fall in fortune for one of the poster children of liberalisation of the legal market.
Surveyors claim ABS first while private equity-backed firm builds multi-disciplinary practice
A London firm of chartered surveyors has become an alternative business structure (ABS) with plans for a legal arm, in what is believed to be the first venture of its kind. Meanwhile, private equity-backed ABS Knights Solicitors has hired six planners as it builds a multi-disciplinary offering
