Keeping Up, Smartly

A paper released by LexisNexis, “The Art of Keeping Up” follows up its 2015 Bellwether survey Report, “The Age of the Client” – to effect that modern clients are more informed, choosy and demanding, and legal businesses have to be increasingly smart and entrepreneurial to survive – and highlights myopia or even complacency towards these trends among law firms. Apparently, some 80% of lawyers think ... Read more

What does “embracing change” really mean?

Our latest sub-report, "The Art of Keeping Up" reveals lawyers’ attitudes towards change against the backdrop of a shifting balance of power between the lawyer and client – where the well informed ‘customer’ is strongly challenging the traditional working practices of legal professionals. Whilst the statistics suggest that firms are working hard to appease the client – by developing a client ... Read more

Limiting liability after 1 October 2015: what do you need to know?

It makes good business sense to seek to limit the extent of your liability to clients. If you act for consumer clients, from today (1 October 2015) things are a little more ‘interesting’ as they will have the protection of the Consumer Rights Act 2015 (CRA 2015). CRA 2015 doesn’t use the expression 'limiting liability' but it does talk about 'excluding' or 'restricting' liability and/or the ... Read more

9 Common Merger Pitfalls

This article was first published on Lexis®PSL on 14th August 2015, click here for a free trial to LexisPSL. The views expressed by our Legal Analysis interviewees are not necessarily those of the proprietor. Practice Management analysis: Law firm mergers have become increasingly common in recent years. Peter Scott, principal of Peter Scott Consulting and former manager partner of Eversheds’ ... Read more

Do you have a client relationship management strategy?

The legal sector is upbeat and from talking to people, there is a definite sense amongst lawyers that it’s all getting better. This is evidenced in The Bellwether Report 2015: The Age of the Client too – it highlights that practice performance is showing encouraging signs of growth. 63 per cent of firms say performance in increasing and two-thirds of lawyers anticipate growth over the next five ... Read more

Lovely weather for ducks!

Any student of the business of law will be well acquainted with the perfect storm that is raging today: technology and new entrants are showing how to do more with less. Smart clients understand the power of their legal spend and are increasingly adept at picking the right firm for each and every matter. Even the Bar is entering the fray. Yet this year’s LexisNexis Bellwether Report 2015: The Age ... Read more

Making the leap in mindset – from ‘client’ to ‘customer’

The Bellwether Report 2015: The Age of the Client has irrefutably determined that clients’ perception is in fact lawyers’ reality. This report has uncovered what we have all guessed as being true for a very long time. Fundamentally, many lawyers still don’t appreciate that it’s not quality of law that clients are after, but quality of service. The former is a given. The paradox in perception of ... Read more

The Age of the Client – launching the Bellwether Report 2015

I'm delighted to announce that today marks the launch of our third annual research report into the evolution of the independent legal sector. Based on interviews with 118 independent lawyers (from sole practitioners to firms with up to 20 fee earners), and 500 private clients,The Bellwether Report 2015: the Age of the Client, has identified a huge shift in the balance of power in the ... Read more

Fourth Money Laundering Directive – Are We Nearly There Yet?

It’s like going on a long car journey with the kids. The road seems never-ending and there’s plenty of noise. But, really, are we nearly there yet? Laura Spooner, Practice Management and Compliance Associate at LexisNexis, discusses the long-awaited Fourth Money Laundering Directive (4MLD) and gives some tips on surviving the journey. Where are we going and why? The Financial Action Taskforce ... Read more

To CPD or not to CPD? Your firm's choice is the question

Be prepared: LexisNexis' Head of Learning, Stephen Honey, decodes the SRA’s changing approach to CPD. From 1 April 2015, as a solicitor you have to decide on your approach to continuing professional development (CPD) with the Solicitors Regulation Authority (SRA) offering you the choice of either Continuing to follow the existing CPD scheme or Switching to their new “continuing competence” ... Read more