Intelligent funding
12 Aug 2009
Andrew Allen explores the drivers for law firms interested in the trading structures available to them and considers the options available.
3.
Protecting partner assets
10 Mar 2008
While more firms may be looking more seriously than ever at their risk-management strategies, the potential threat of a major claim against your firm is still very real, especially as firms grow and find themselves practising across international jurisdictions.
4.
Limiting liability for solicitors – part two
9 Feb 2009
The first part of this article considered the basic structure of limiting liability. As limitation is now commonplace, it should not be difficult to persuade a judge that limiting liability is fair and reasonable. The language of the clause is more likely to be a risky area. Try to resist being a lawyer and drafting against every conceivable eventuality and remember that a simple clause is likely to be more effective1.
By Peter Ashford
5.
Opportunities from financial turmoil
9 Feb 2009
As an accountant specialising in advising law firms across the country, readers will not be shocked if I say that the last quarter of 2008 was a depressing time to work in, or to advise, law firms. In my market sector, I advise firms with 50 partners or less. Looking at the sector as a whole, this size covers around 75 per cent of firms; therefore my client experience is a good straw pole of the issues that exist within the legal market.
By Andrew Allen
Not your basic bean counters
29 Nov 2006
As UK law firms prepare for massive regulatory shake-up and embrace new corporate working practices, the commercial experience of the profession’s current crop of finance directors could not be more welcome. By Jason Schofield, Editor, FD Legal
8.
Liable for change
19 Mar 2007
The individual liability of members of a partnership can make the prospect of a successful claim against the firm a fearful prospect. Many firms have therefore wisely looked to strategies for limiting liability, including converting to LLPs. This may not, however, provide all the answers. By Peter Ashford
With firms facing a new regime in risk management, highlighted by the SRA ramping up its inspection programme, FD Legal asks Annette Fritz-Shanks, of Taylor Wessing, and Fergal Cathie, of Barlow, Lyde & Gilbert, about their perspectives on changing legal attitudes to risk.
Money laundering: The enemy within
19 Dec 2006
With new money laundering regulations on the horizon, law firms need to update and review their risk-management procedures, and retrain staff to ensure they are on their guard. By Sue Mawdsley, partner, Legal Risk
12.
Last word: Getting to grips with GAAP
29 Nov 2006
Converting to limited-liability partnership is proving popular among UK law firms, but the accounting pitfalls should be carefully considered before taking the plunge. By Steve Gale, Horwath Clark Whitehill.
13.
The myths and realities of LLP conversion
28 Nov 2008
As firms seek to protect themselves from business losses, Simon Young unravels the reasoning behind LLP conversion.
14.
Budgeting for benefits
30 Oct 2008
With firms looking at budgets for the year ahead, Robin Hames puts employee benefits under the microscope.
15.
Thought Leader
10 Jul 2008
CLIENTS HAVE grumbled for a long time about how expensive their lawyers are, and how their lawyers’ pricing paradigm of charging by the hour has caused their costs to spiral out of control. Indeed, as recently as April 2008, the way in which firms price their services has come under scrutiny, with the issue commanding more of the front pages of the financial press.
16.
Leading the business, not just counting the beans
29 Nov 2006
Law firms are facing huge pressures to overhaul their professional traditions to become modern competitive businesses. And at the heart of this change is the finance function, which is no longer limited to just counting the beans. By David McLaughlin, Simmons & Simmons
17.
Last word
17 Dec 2009
Overhauling your expenses systems
By David Vine
Salans’ Spanish acquisitions
17 Apr 2007
Salans has expanded its operations in Europe after acquiring Pinsent Masons’ Madrid-based alliance partner Masons Buxeda Menchen and a boutique firm led by Alejandro and Juan Ignacio Alonso.
20.
Anti-money laundering: Is anyone asleep on your watch?
19 Dec 2006
Failure to implement and document money-laundering procedures may lead to criminal sanctions and an irreparable loss of reputation. With so much at stake, the time to mitigate the risks has never been more apt. By Shaun O’Leary, Huntswood Consulting
Money Laundering Regulations 2007 loom large
19 Mar 2007
For many law firms, the risk of being hit by a fraud may seem remote, but with the draft Money Laundering Regulations 2007 now in consultation, there is little room for complacency. By Frank Maher
People and places: Slaughters completes management shake-up
11 Jul 2008
INTERNATIONAL LAW firm Slaughter and May has announced the election of eight practice stream heads, following the election of Chris Saul as senior partner earlier in 2008.
25.
Getting Personal
10 Jul 2008
With further pension reforms on the horizon, firms will play an ever-more important role in incentivising their employees to save for their retirement.
Case Study: Norton Rose Group
10 Jul 2008
When burst water mains took out all power to Norton Rose Group’s London head office, it was careful disaster-recovery planning that saved the day.
31.
Q&A: Simmons & Simmons
10 Jul 2008
When finance director David McLaughlin decided to join the legal profession, he wasn't going to do things by half. He joined first Linklaters, and then Simmons & Simmons, two of the largest UK law firms, at a time of rapid change.
32.
Role of a law firm general counsel
18 Sep 2007
In recent times, some law firms have appointed a dedicated general counsel to head up risk management across the business. Edward J. Zulkey, general counsel at Baker & McKenzie International, explains the strategic rationale and organisational requirements of such a move.
33.
Last word
12 Aug 2009
Using business intelligence to improve operations.
What has the global crisis taught us about risk management?
29 Mar 2010
Expect the unexpected. While most foresaw a recession coming, it had been talked about for months in the press and elsewhere, there are very few that would have predicted the depth and severity of the recession.
Risk focus: Managing higher-risk practice in a credit crunch
9 Feb 2009
Two recent headlines, involving severe penalties on financial institutions, serve as a timely reminder to monitor client risk, particularly in higher-risk jurisdictions and higher-risk practice areas.
By Frank Maher
Thought leader: The economic outlook for transactional firms
5 Sep 2008
After an exceedingly strong 2007/08 financial year, recent reports in the legal press confirm that firms relying on transactional work are worried about the 2008/09 deal season.
43.
Profile: Neil Woodcock
30 Apr 2008
Having just announced a 37 per cent increase in revenues for 2007, Salans is feeling justifiably pleased with itself, the result of 'marrying prudent judgement with an entrepreneurial spirit', it says. FD Legal talks to COO Neil Woodcock about the firm's financial rise.
44.
Case study: Herbert Smith
10 Mar 2008
Herbert Smith has implemented a system that provides 'on demand' management information - MIS. Already available to all partners, it is now being developed for associates. It will form the basis for developing a 'balanced scorecard' for the firm - to address client, people, financial, process and commmunity information needs.
45.
People profitability: healthy, wealthy and wise
9 Jan 2008
In 2007, PIFC Consulting conducted a 'Legal Sector HR and Employee Benefits Survey'. In this second FD Legal article, these survey results are examined to establish how firms can best meet the challenges facing their HR teams, and maximise the productivity and profitability of their partners and employees.
46.
Q&A: Money Laundering Regulations 2007
8 Oct 2007
Simon Moore, partner at Field Fisher Waterhouse LLP tells Caroline Poynton why and how the forthcoming Money Laundering Regulations 2007 will impact your firm's client-vetting rules.
47.
The evolving role of technology in law firms
17 Dec 2009
The changing role of technology and how can it help firms to deal with the challenges of the ‘new normal’.
By Damien Behan
48.
So you have risk management – what do PI insurers make of it?
9 Feb 2009
The current world economic turmoil is causing wide-ranging problems for businesses. Here in the UK we are firmly in recession and comparisons are being drawn to the early 1990s. Well-known high street retailers are in liquidation, the property market has fallen dramatically in value and repossessions are increasing. Business confidence is critically low and increasing levels of unemployment are putting additional pressures on government.
By Colin Taylor
49.
Regulatory change - Welcome back: Post-holiday planning
18 Sep 2007
With the summer holidays coming to and end, your thoughts may be turning to your management tasks for this year end, and into 2008. This article provides some 'back to school' planning tips for the regulatory year ahead.
50.
Financial management for profit
19 Mar 2007
There may be several interpretations of the purpose of management accounts, but success boils down to delivering the right information to the right people, quickly and accurately to enable them to properly assess business performance. The key to achieving that is a complex but not insurmountable challenge. By Shaun Gillanders
51.
It looks just like a law firm, but smaller!
12 Aug 2009
Patrick Harwood tackles law firm size, working to a plan, focusing on a clearly identified outcome or just fighting for survival.
52.
Back to school - if the building is still standing...
12 Aug 2009
Francis Dingwall and Frank Maher identify some of the challenges law-firm management teams should be addressing on their return from their summer break.
53.
Chasing revenue overseas
30 Oct 2008
Thinking of opening an office abroad? Chris Perrin examines some of the regulatory and ethical issues that you might face.
54.
Are finance directors up to the outsourcing challenge?
30 Oct 2008
In the second of two features on law firm outsourcing, Chris Bull challenges finance directors to lead their firm’s approach to sourcing decisions, and proposes five areas on which to focus.
55.
Feature: De-mystifying outsourcing
5 Sep 2008
In the first of two features on how outsourcing has risen to the top of law firm management agendas, Chris Bull strips away the mystique behind the jargon and outlines what has really been going on in the legal world over the past few years.
56.
Cover story: Welcome back (again)
5 Sep 2008
Twelve months ago, Frank Maher provided some ‘back to school’ planning tips for the regulatory year that lay ahead. One year on, the credit crunch has not gone away, property values have fallen, and recession looms. Francis Dingwall and Frank Maher report.
57.
Reaping the benefits
8 Oct 2007
In 2007, PIFC Consulting conducted a 'Legal Sector HR and Employee Benefits Survey'. In the first of two articles, these survey results are examined to establish how firms can maximise their considerable investment in employee benefits.
58.
Taking the plunge...
8 Oct 2007
On the other side of the pond, many US firms have already taken the plunge, but for UK firms, e-billing is still a new and daunting propostion. One thing is for sure, though, firms need to act now if they are going to be ready for the growth of e-billing in the months and years to come.
59.
Law firms and lenders - who calls the tune now?
22 Jun 2009
William Arthur examines how the credit crunch has changed firms’ relationships with their banks and how to make the most of a more difficult climate.
Do you measure what matters?
30 Oct 2008
As the credit crunch bites, Peter Scott outlines the importance of financial measurement and reporting, and maintaining profitability and generating stronger cash flow.
Feature: Exchange rate fluctuation in the context of partner remuneration
5 Sep 2008
Foreign exchange issues can present problems in the context of partner remuneration. Various internal methods can, however, be employed to successfully address the challenges. By Michael Roch and Clive Zickel.
65.
Q&A: Hot topics in financial management
5 Sep 2008
As summer draws to a close, Claire Hafner, David McLaughlin, Chris Bull and Michael Roch take a reflective look at the hot topics of the past year and, as a possible recession looms, give their predictions for the year ahead. By Joanna Lee.
66.
A dead end?
9 Jan 2008
While the legal profession is enjoying widespread business transformation it can still be a tough environment for 'non-lawyers'. Are finance professionals really being given the opportunities to thrive and develop in today's legal partnerships?
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