First Law Firm to be Brought by a Listed Company

We all know now that lawyers keep their cards close to their chests,  often reluctant to go to Press until the deal is done, so we should prepare ourselves for many more such announcements as Silverbeck Rymer's announcement as captured by Legal Futures here.

With each announcement, too,  we at Trafalgar are seeing a growing interest (tinged with some scepticism) from corporate financiers,  private equity and the like....  So if your firm is holding an away day, partner retreat, and developing your strategy for the sustainable future of your firm, you maybe should be briefing yourself more fully on the ever expanding ways to deliver legal services.  Be in the vanguard,  this is not a followers market.

Take a look at this article on the Legal Futures website.

Labour wants women and staff to have say on executive pay | News

Labour wants women and staff to have say on executive pay | News

Strategic career mapping for partners

Strategic Career Mapping for Partners seminar – part of the Law Society Masterclass series is being run on 7th February, 2012 in London. Prevention is better than cure and this seminar addresses the many challenging issues around partner career progression so that you can refresh your partnership stock, and at the same time help your partners have fulfilling careers within the firm in a manner that goes beyond partnership. It will also cover what other firms are doing, how those firms tackling these issues now are setting a foundation for a durable future that doesn’t disappoint long serving individuals and ensures all are valued.

Use this form to book your tickets for Strategic Career Mapping for Partners.

Details of NED, Trustee and Skills seminars for Partners for 2012

Specifically designed for lawyers who are now Partners, Managing Partners, Senior Partners and Senior Associates who want to explore the opportunities of taking on NED or Trustee roles either whilst still a partner in their firm, as part of a post-Partner career move or as part of your retirement planning. Our key seminars are:

Introductory seminar for Partners on NED roles & responsibilities lead by Simon Wethered, Consultant, Committee Member to the Charities Commission and ex-Charles Russell Partner

• 0.5 day, 3 CPD points,
• Number of delegates 8 - 14 
• London (23rd January, 28th February, 20th April) and Manchester (27th March, 21st May)
• Cost £335 + VAT, per person

Download the PDF


Introductory seminar to the Not for Profit sector lead by Richard Evans, CEO of CfA Executive Search and Selection in NfP. who is increasingly involved with the legal sector.

• 0.5 day, 3 CPD points,
• Number of delegates 8 - 14 
• London (25th January, 29th February, 30th April, 28th June)
• Cost £335 + VAT per person

Download the PDF

Assessing and developing your skills from Partner / Lawyer to being effective at Board Level lead by Michael Spurr, Director of Wickland Westcott, executive search selection supported by other leading lawyers who have NED roles.

• 1.1 assessment, report & feedback, undertaken at least a week in advance of seminar
• 0.5 day group seminar
• 6 CPD points,
• 6 – 10 number of delegates 
• London (21st February, 19th April, 18th June) and Manchester ( 28nd March, 22nd May)
• Cost £3,300 + VAT per person

Download the PDF

Seminar design and options:

NB: All seminars and more in-depth assessments are available as public courses and can be tailored for in-house, carrying CPD points. In-house projects may have additional enhancements such as talks by Partner / ex-partner NEDs as roles models, additional connectors and network guidance which can be sector specific, venue, etc, as required.

Working with a variety of national and international Accountants, we are also able to ensure that partner have the best personal financial advice as part of the wider review around longer term Portfolio Career Mapping for Partners © which would be managed separately.

NED / Trustee seminars designed and contributed to by lawyers – for lawyers: for 2012

According to recent research the FTSE 250 has only 19 main board Directors who trained as lawyers and very few as Non Executive Directors. This is a dreadful waste of great commercial and entrepreneurial skills – and clearly a missed opportunity for many partners in law firms today.

The Portfolio Career Mapping for Partners © (PCMP) is a programme designed to help you address the opportunity to increase your productivity as well as plan your future. PCMP has been developed by Trafalgar through research, numerous discussions with Partners in law firms around the UK and abroad. It is based on Partner role models, and recognises that keeping experienced Partners ‘nose to the grindstone’ fails to fully create and access their true value.

Policies on remuneration, profit share, clarity on roles and responsibilities are under scrutiny in most of the top 200 law firms, Default Retirement Age and the desire (or need) to work till we are 70+ are all pressing for a new, innovative approach to this thorny subject: we can help.

Success at board level is not about a single cell skill but rather multi-level skills and most lawyers can miss out by failing to understand what is valued – and what is not. We now have links with numerous recruitment, head hunting cosultancies who are focusing on supporting these programmes, individuals who have:

• Taken 8 years to build a network and portfolio of roles, including regulatory in aerospace, in education, commerce and charity
• Developed several roles as an NED including nationally recognized organizations that will position that individual for a ‘third career’
• Because of his sector focus is now on the board of a regional charity and now generates @ £100k - 200k per annum
• Agencies who can support the transition to in-house roles
• Private equity who are looking for sound commercial business people as NEDs

If you are a member of the management or leadership team you will also be considering mergers or acquisitions and may well want to ‘prepare’ the partnership which includes helping some of your partners acknowledge some additional roles or shifts in their careers. We can run these programmes in-house to ensure the topics reflect and compliment your overall strategy.

We will provide more details shortly – if you are interested please contact: Patricia Wheatley Burt, Director, on 020 7565 7547 or email: patricia@trafalgarpeople.com

Launch of The Theatre Fund

According to some press, there are investors keen to put their money into some interesting projects – this might appeal to those of you who fall into this category. Also written up in the legal press, Partners in the Top 100 are again seeing good levels of PEP – so here is a neat way to support the Arts and make money.

Interestingly, Alan Davis is a qualified lawyer taking time out from practicing the law to build his commercial skills. In 2010 he found himself putting on 5 highly successful plays in the West End simultaneously, through Act Productions – a man worth backing.

http://www.thetheatrefund.co.uk/

Franchises for law firms – an alternative worth considering.

According to Chris Kenny, CEO of the Legal Services Board, ABS are now likely to be approved before Christmas. At the same seminar, (8.11.11) run by Smith & Williamson, Giles Murphy (Director of Professional Services) agreed with me that some firms may chose to use separate vehicles to deliver legal services to their clients. There is scope to set up a franchise or separate legal entity without affecting your brand or confusing your existing client base. Face2face offer a very interesting option – so I thought I would let you all have a look at this.

Does your practice sometimes feel like a supertanker?

Is it difficult to change direction quickly to meet changing market pressures?

Why not launch a 'speedboat' alongside?

It is speedy, light, agile, responsive, has a different

character from its parent vessel and much lower running costs

Most Partners know how difficult it is in an established firm to make changes quickly but ABSs will soon bring new competition to the legal services market and even successful firms will feel pressure on their traditional pricing structures and client bases.

What is a 'speedboat' for a law firm?
This is the term coined by us for the concept of an established firm creating a new, streamlined business and running it alongside the existing firm but under a different brand. The 'speedboat' is free from the baggage of the main business and provides a quick and easy way to put a toe in the water of the new market without compromising the main business or its brand. It may be in a different location or operate in a different market from the parent firm.

How does the face2face solicitors franchise help a firm launch a 'speedboat'?
We provide all the components for a new law firm, reducing time, cost and effort in getting started and moving into profit.

Benefits

• No risk to your existing brand
• Quick and easy to do with a face2face solicitors franchise 'law firm in a box'
• Low-cost start-up
• Lower operating costs
• Up to date Compliance
• Grow the business more quickly with face2face solicitors' unique ongoing support and mentoring

To find out more, click here to download the full briefing note

For more information on the face2face solicitors franchise:

www.face2facesolicitors.net

email us direct

Tel: 0800 458 6720

P.S. Wondering about an ABS?

A 'speedboat' is your low risk option.

Launch your 'ABS speedboat' with our help.

If you are interested – do let us know and we can help look at how to blend additional structures for delivery into your strategy. There is scope to develop such a franchise under your own brand – or to use face2face, and we have other clients who are looking at this too.