1. What Future for Legal Practices?
Viv Williams

2. Legal Sector
Currently there are around 130,000 Solicitors in the UK with a Practicing Certificate
10,510 firms (August 2016)

7. Principle 8
You must run your business or carry out your role in the business effectively and in accordance with proper governance and sound financial and risk management principles

8. How to see the way forward
Do not get lost in the detail
“Corporate Governance” – even for the smallest firms
Separate
Ownership (Equity)
Strategy (Management)
Operations
Delegate Authority

9. How to see the way forward
Horizon scanning
Away day – understand your Goals
“Non-Exec” advisors

10. Working as a “Non-Exec” with Law Firms
The Banks like it…..
Growing trend in mid-sized businesses including law firms
External challenges to decision making
Dealing with the crisis of succession
It’s not expensive and provides practical help

11. Restructuring the practice
Structure of business
Business models
Outsourcing

12. Wealth Management and F.S.
Private client will not survive without it
ABSs - financing your growth
IFAs are buying law firms and employing solicitors
JV or in-house – incorporation?

13. Practical suggestions
Pricing on outcome not input
Process and procedure
Technology
Compliance

14. Consolidation is inevitable
On whose terms?
Acquisition opportunities
Preparing for merger
Controlled closure

15. What Future for Legal Practices?
Viv Williams