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Fee income per partner at larger firms soared last year from an average of £777,000 to almost £1.4m, a survey has found. Accountants MHA, who produce an annual benchmarking report, said the main reason was a fall in the number of equity partners at these firms, helped by an increase in profitable work.

The Advertising Standards Authority has upheld a complaint over an advertisement from a website that claims to help clients recover a “huge amount” of their legal costs, which said that “on average, a solicitor overcharges you by 20%”. The offending advert was headed: “Top 5 ways your solicitor rips you off.”

The Solicitors Regulation Authority (SRA) has decided to drop annual diversity surveys of the profession, and make them biennial, to reduce the regulatory burden on smaller law firms. The regulator said the next survey, scheduled for this summer, would not take place until May 2017.

A legal rating and review website, set up last autumn by the former chief operating officer of QualitySolicitors, is to launch a crowdfunding bid next month targeting law firms. ReviewSolicitors wants to raise at least £150,000 from 50 law firms.

There is a “climate of renewed vulnerability” among smaller law firms, with the vast majority of lawyers believing there are “still rough times ahead”, a report has found. The report also revealed a huge gulf between lawyer and client perceptions of value.