Market monitor

The government plans to introduce its whiplash reforms in April 2019, it emerged today. The Motor Accident Solicitors Society said it has today been told that ministers have agreed for the personal injury reforms to be implemented from that date, with an initial focus on RTA.

The time for just talking about new ways of doing things in the law is over as clients “turn their backs on the pricing and delivery models that law firms have traditionally sold them”, a leading banker has warned. He said a “palpable shift” in thinking and serious investment in new technologies and delivery methods were now strategic priorities.

An alternative business structure launched at the end of last year to invest in profitable “local hero” law firms, has already taken over one practice this year and is on the verge of taking a share in another. London-based Echelon Law offers back-office support and has a particular focus on firms of one to three partners.

A Brexit deal that mirrors the free trade agreement Canada has with the EU would be equivalent to a ‘no deal’ outcome for legal services, the Law Society warned today. It would also exclude issues such as co-operation in civil and criminal justice matters, and the recognition and enforcement of judgments.

Listed law firm consolidator Gordon Dadds Group has made its second acquisition in as many weeks with a deal to buy Bristol firm Metcalfes Solicitors for an initial £2m, rising to a possible £6m. It also comes just days after Metcalfes acquired fellow generalist Bristol firm Burroughs Day from administration.

The government has approved rule changes opening the way for fully digital conveyancing. The changes will allow digital documents with e-signatures to be used both for land transfers and land registration. Meanwhile, the Council for Licensed Conveyancers has stated its ambition to become “regulator of choice for all property lawyers”.

The Association of Chartered Certified Accountants was yesterday given the green light to regulate its members in handling probate work. Approving the regulatory scheme it is putting in place, the Legal Services Board said ACCA members would make a “positive contribution” to the legal market.

A law firm regulated by the Chartered Institute of Legal Executives is aiming to supervise the training of solicitors in what is understood to be the first move of its kind. In a separate development, a law firm regulated by the Bar Standards Board has started a pupillage scheme, in what might well also be a first.

Gordon Dadds Group has made its first law firm acquisition since listing on AIM last summer, buying a specialist technology and corporate practice for up to £3.4m. In other ABS news, Co-operative Legal Services has launched an online platform for uncontested divorces with solicitor support, while a will-writing ABS has gone into liquidation.

The Ministry of Justice has said it was “business as usual” on the housing and debt legal aid phone lines operated by Carillion Advice Services yesterday, following the collapse of the parent company. However, a law firm that markets a partnership with the paralegal business declined to talk about the implications.

A new report has spelt out the “formidable” competition the Big Four accountants could become in the legal market, given that the three largest of them alone turnover more than the biggest 100 law firms in the world combined. It was published in the wake of Deloitte becoming the last member of the Big Four to apply for an ABS licence.

Times are tough for claimant personal injury lawyers, but while many expect substantial consolidation in the market over the coming 18 months, competition is becoming fiercer than ever, according to new research. Advertising spend and costs were spiralling upwards both online and on TV as firms look to grab greater shares of the market.

The UK has its first law firm owned by a hedge fund after Slater & Gordon’s UK operation completed its separation from the Australian parent. The newly independent business has appointed a chief executive in the shape of the former vice-chairman of an American technology company.

Premier League footballers including former Manchester United and England striker Andrew Cole are set to be among high-profile sporting clients of a law firm that has taken investment from a sports and media group after becoming an alternative business structure.

‘Silver splitters’ are finding their way to a pioneering online divorce service, which uses divorce coaches instead of lawyers as part of its goal of making the process as painless and low-cost as possible. Amicable App, launched in January this year, has recently raised £473,000 from a range of angel investors.