Law firm finances
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Time to Increase Prices: I Forget, How Do You Do That Again? - Validatum - Cutting Edge Legal Services

Time to Increase Prices: I Forget, How Do You Do That Again? - Validatum - Cutting Edge Legal Services | Law firm finances | Scoop.it
Validatum provides cutting edge legal services, pricing strategies and tools for law firms, barristers and legal departments.
David Gilroy's insight:

A great article from Richard Burcher with some thoughts on how to approach increasing your prices now the market/economy seems to be picking up.

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Jacoby & Meyers lays out twin-track approach to UK expansion - LEGAL FUTURES

Jacoby & Meyers lays out twin-track approach to UK expansion - LEGAL FUTURES | Law firm finances | Scoop.it
David Gilroy's insight:

I was at the Legal Futures event back in November when Gabe Miller spoke.  He sounded as credible as anyone in the legal sector that I've heard speak in the last couple of years.  I suspect whenever they do "find the right opportunity to launch" they could do quite well.

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ReInvent Law Laboratory

ReInvent Law Laboratory | Law firm finances | Scoop.it
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Can't believe that this week has arrived.  Really looking forward to the Reinvent Law conference on Friday.  Hope it comes to London in 2014.

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QualitySolicitors boosted by multi-million investment

QualitySolicitors boosted by multi-million investment | Law firm finances | Scoop.it
Franchise founder says it has listened to the views of members and consumers.
David Gilroy's insight:

So, I wonder how many millions the word "multi" millions really means?  Does it need to be £1,000,001 or £2,000,001?  Either way it's another significant step for QS yet it remains to be seen what they do with it. Spend it on marketing or help retain their membership?

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Manchester firm failed after NatWest halted lending

Manchester firm failed after NatWest halted lending | Law firm finances | Scoop.it
Statement to creditors shows background to collapse of boutique firm.
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Associate news: Two leading costs and pricing consultancies merge

Two leading costs and pricing consultancies have merged to create Burcher Jennings. Read more on Legal Futures associates news.
David Gilroy's insight:

Knowing both businesses, this looks like a completely sensible merger/JV to me. Pricing & costs.  Words that sometimes mean the same thing to people yet are really two completely separate subjects.

 

Yet to meet Richard Burcher in person but am sure that cannot be too far away. 

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Beware: not all good profit is good profit.

Beware: not all good profit is good profit. | Law firm finances | Scoop.it
If you make a healthy profit you might think things are all OK but are they? Perhaps not....
David Gilroy's insight:

I wonder how many law firms are really affected in this way?  I suspect most law firms have a decent spread of revenue, but frankly even if one of my clients was 20% of my annual revenue I would be really nervous, let alone 85%!

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Who Should Be Able to Own Law Firms?

Who Should Be Able to Own Law Firms? | Law firm finances | Scoop.it
Who should be able to own law firms? Are ethical and other restraints making them less competitive?
David Gilroy's insight:

Interesting piece on law firm ownership in this modern era.

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High street cull as 136 firms disappear

High street cull as 136 firms disappear | Law firm finances | Scoop.it
The SRA has confirmed 136 firms have lost right to practise as solicitors because they did not get insurance.
David Gilroy's insight:

When this article was initially posted it listed all the firms who failed to get PII renewals even after the "grace period", however there were at least two firms on the list who I know (they were clients) who were shut down in an orderly way.  Perhaps that's why the list has now (21-Jan) been removed!

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Achieving Growth Through the Merger and Restructuring of Law Firms

Listen to Tony Williams from Jomati Consultants LLP provide insight into the world of law firm mergers in this legal training podcast for lawyers (Transcript Included) (Want to grow in 2014?

Via Skip Boykin
David Gilroy's insight:

I presented a video webinar with Tony once, smart bloke so worth listening!

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