Survey: firms need better hold of “levers of profitability” to make most of clients and staff
Law firms are not maximising the potential in either their clients or their staff, according to new benchmarking research seen by Legal Futures. Firms reported very different results from cross-selling, for example,
Solicitors favour LinkedIn over Facebook and Twitter as social media use slowly grows
Fewer than half of solicitors in Scotland use the three main social media platforms for professional purposes, according to new research. The most popular social network tool was LinkedIn, with 24% of the solicitors polled using it on a daily or weekly basis.
New solicitor marketing network to spend £3m as Thompsons eyes trade union partnerships
A new national marketing network of solicitors specialising in personal injury claims will be launched in the New Year with funding to spend more than £3m a year on advertising as firms come to terms with the upcoming ban on referral fees. Meanwhile new ABS Thompsons hinted at possible alliances with trade unions.
LPOs set to take on high-value work and “compete directly with law firms”
The legal process outsourcing industry is currently worth $2.4bn worldwide and is set to expand into higher value, more complex work, according to research conducted by the London School of Economics.
SRA: “too many” COLP and COFA nominees failing to disclose suitability issues
The Solicitors Regulation Authority has received “too many” compliance officer nominations where the individuals concerned have failed to disclose serious disciplinary issues that make them unsuitable for the role, as it warns that hundreds of firms will start 2013 without officers in place.
Connect2Law bids to become “UK’s leading response for law firms” to the ABS world
Connect2Law – the largest network of law firms in England and Wales – is planning to raise its profile and make itself the “UK’s leading response for law firms” to the post-Legal Services Act market. As a sign of intent it has recruited David Jabbari as its new chief executive.
Allow not-for-profit agencies to charge, says LSB as it delays date for them to become ABSs
Not-for-profit (NFP) advice agencies should be allowed to charge for providing legal services soon, the Legal Services Board said yesterday, while also announcing a delay in the creation of an alternative business structure licensing scheme until at least April 2015 because no regulator is ready to provide it.
Masses of non-compliance by overwhelmed solicitors, research finds
There are widespread failures among law firms to comply with a host of key regulatory requirements, from their websites to the Bribery Act, new research seen exclusively by Legal Futures has shown. The figures indicate that there is simply too much for small firms to comply with, according to its author.
Revealed: Law Society and SRA at odds again over regulator’s budget
The latest spat between the Law Society and Solicitors Regulation Authority (SRA) has been rumbling on over the latter’s budget for 2013, it has emerged. However, Legal Futures can reveal that the SRA is to reduce its budget by around £2m to £30.6m.
House of Lords gives Legal Services Board a bashing
The Legal Services Board (LSB) came under fire for “mission creep” in the House of Lords last night. In a debate initiated by Bar Standards Board chair Baroness Deech, several lawyer peers accused the LSB of going further than the oversight role envisaged for it.
