Redundancies prompt solicitors to choose independence over traditional firms

News

Scomo

Friday, 5 February 2016

The latest round of redundancy news stories to hit the legal sector media are mirrored by a sharp rise in the number of solicitors considering moving away from traditional firms and towards ‘virtual’ firms (www.scomo.com), where consultants manage their own time and clients, and where they retain a hefty 70% of all their billed fees.

Whatever the size of the firm, the redundancy rounds hit hard. Some of the firms considering redundancies are almost household names, such as Slater & Gordon, but most slip under the radar. The effect on fee earners is the same: it’s a time to re-assess one’s career values and direction.

Of course, being free of firms’ targets, office politics and the 9-5 drudge are instantly appealing, as can be the income from 70% of billable fees, but the real appeal – says Scott-Moncrieff & Associates – is the independence, the opportunity to be an entrepreneur, to put one’s own ideas into action.

The move towards firms such as Scott-Moncrieff, which are well-established and offer consultants a full support, marketing and admin package, is seen by legal sector observers as a positive way forward. Solicitors from all areas of the law are helping Scott-Moncrieff expand as a national firm of some authority.