Features and Opinion – Page 5
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FeaturePaying the price
Clients are more demanding on fees than ever before, and that pressure shows no signs of waning. But how can you set pricing so it’s both acceptable to the client, and sufficiently profitable for the firm? Robert Mowbray outlines a three-step approach
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FeatureHope springs
The Law Management Section’s 2015 Financial Benchmarking Survey has just been published, and for the first time in many years, the results all suggest positive change in the market. Andy Harris from Hazlewoods introduces the results of the survey
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OpinionStaking a claim
The legal regulators are predicting major change for the profession in 2015 in response to market and client pressures. Ian Muirhead presents an overview of potential competitive threats from the financial services
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FeatureIs less more?
The buoyant mood in the legal sector masks a new potential risk for firms: overtrading. Barry Wilkinson explains what it is, why it happens, and why it could spell real problems for law firms in 2015
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FeatureTaking stock
When Tony Stockdale began working with Linder Myers, the firm was on the brink of collapse. In conversation with Caroline Roddis, he explains how he turned the firm around, and what he thinks the future holds
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FeatureLock and key
Setting and monitoring key performance indicators can help law firms to focus on the factors that most affect their success. Andrew Otterburn provides a beginner’s guide
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FeatureGo with the flow
With uncertainty around the timing of the next interest rate rise, law firms need to get prepared and ensure that their cashflow is robust enough to weather any financial storms, says Paul McCluskey
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FeatureFive for fighting
The recent changes to criminal legal aid have placed unprecedented strain on legal aid firms. Prashant Joshi outlines five options for firms, from closure to merging
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FeatureLimited edition
The changes which came into force on 6 April 2014 represented a fundamental change to LLP taxation, for both individual partners and firms. Jon Cartwright looks back at how we got here, and what law firms need to do now
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OpinionUnder the banner
Robert Banner, new chair of the Section executive committee, outlines his plans for the Section, including helping firms through financial stability issues, and supporting smaller firms with practice management challenges
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FeatureHow do you compare?
Our 2013 Financial Benchmarking Survey report is out now. Fees and profits are up once again, but partner capital is down, and many firms show signs of financial stability issues. Andy Harris introduces the results of the survey
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FeatureOn the money
In today’s challenging marketplace, firms need to be able to spot potential financial problems early and take decisive action. Clare Boardman provides an accountant’s perspective on the steps a firm needs to take to secure its financial future
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FeatureOffice politics
As firms struggle to adapt to the pace of change in the legal market, premises costs can make the difference between success and failure. Steven Petty explains how you can manage these costs to the benefit of your firm
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OpinionCounting the cost
Law Management Section chair Chris Hart discusses this issue’s financial focus, and bids farewell as chair of the Section
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FeatureIt all adds up
Despite the sombre headlines of financial woe we were faced with last year, 2013 saw the UK economy grow and the professional services sector perform strongly. Can they both be right? Barry Wilkinson looks at what exactly is going on
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FeatureBetter safe…
The Solicitors Regulation Authority’s focus on financial stability is part of a wider change to the regulatory environment, and what compliance means in practice. George Bull explains how to assess your firm against the regulator’s risk indicators
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FeatureLife partners
Andrew Allen discusses the impact on law firms of the partnership changes announced in the autumn statement, including to the self-employment status of LLP members, and to the operation of ‘mixed partnerships’
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FeatureCash in hand
Cashflow is the lifeblood of any business, and a lack thereof can be a key reason for financial instability. Behind good cashflow are effective cash management policies and a culture set up to deliver them. Barry Wilkinson and Robert Banner explain how to show your firm the money
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FeatureMulti-tasking?
Ian Muirhead asks why multi-disciplinary practices have been less popular than they were seemingly envisaged to be by the Legal Services Act, and presents a personal view on the role of joint ventures between solicitors and independent financial advisers
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FeatureNew obligations
By 2018, all UK firms will be required to enrol all eligible employees into a qualifying pension scheme. Georgina Beechinor looks at how these changes and developments will affect law firms, and what you should be doing now to prepare