- Friday, 3 February 2012
The recession and continuing economic challenges highlight the increasing importance of law firms having an effective business strategy in place that considers the ambitions of the firm but ensures that those ambitions are delivered against access to suitable levels of cash flow. By Legal Futures Associate NatWest
Tags: financial management
Posted in Features, Finance
- Wednesday, 11 May 2011
Smaller law firms have halted the decline in fee income, while partner profits rose significantly last year, Law Society research has found. They saw an average increase of 0.2% in practice fee income in 2010, following a reduction of 6.5% the previous year.
Tags: finances, financial management, Law Society
Posted in Finance, News
- Wednesday, 1 December 2010
The Solicitors Regulation Authority will next year conduct ‘thematic reviews’ on its approach to conveyancing, the financial viability of law firms, and both English firms’ overseas practice and foreign lawyers working over here, it has emerged.
Tags: conveyancing, financial management, international practice, overseas lawyers, Solicitors Regulation Authority
Posted in News, Solicitors
- Tuesday, 25 May 2010
There are to be four extra core professional duties when the Solicitors Regulation Authority (SRA) unveils a slimmed-down Code of Conduct later this week, it has emerged. The draft 40-page code – which will form part of an online Solicitors Handbook bringing together all of the SRA’s regulatory regime – is at the heart of next year’s move to outcomes-focused regulation.
Tags: Alternative business structures, financial management, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news, Solicitors
- Thursday, 18 February 2010
There should be a new core duty on financial management, along with requirements that firms disclose financial problems to their regulator, in the Solicitors Code of Conduct, the SRA has been advised.
Tags: code of conduct, financial management, SRA
Posted in Indemnity insurance, Latest news, Practice points, Regulation, Solicitors
What the pandemic has brought into sharp focus for firms is a desire to reduce costs. In 2019, research found cost reductions were last on a long list of priorities for firms; now they are near the top.
As my legal career progressed, I began to realise the reality was very different than I had envisaged. I was in a constant state of stress, working very long hours. I normalised the stress, as it seemed to be everywhere I looked.