The importance of early succession planning for sole practitionersPlanning retirement becomes increasingly important as we get older, and it is a phase in life that many eagerly anticipate. For those in the legal industry, particularly sole practitioners, retirement...
How to find a buyer for your law firmDeciding to sell your company could be one of the biggest decisions you ever make. Selling a law firm is more complex than typical business sales and purchases. Compliance with SRA regulations is crucial, requiring consideration of...
Transitioning your clients to a new law firmWhether you have decided to close your practice completely, or to exit a specific area of law, one of the most important elements you must consider within your plan is successfully moving your clients to your new firm....
How to close a law practice: A compliant and structured exitLaw firm closure is a significant process that requires careful planning and execution. Whether you decide to close your law firm due to retirement, a change in career direction, or financial distress, this...
Law firm restructuring: A short guideLike any other business, law firms are not immune to the need for change and adaptation. Law firms must regularly evaluate their operations, performance, and competitiveness in order to remain successful in a rapidly...
What do law firms need to consider when merging?Law firm mergers Merger activity has vastly increased within the legal services industry over the past few years. Merging a firm with another firm can bring a number of benefits to the new combined firm. Some of...
How to improve law firm profitability and ensure positive cashflowProfits and positive cashflow are extremely important for law firms as they serve as a measure of the financial success and sustainability of the business. If a law firm isn't making a profit and...
Sole practitioner retirement and the importance of being prepared As we approach the end of the financial year, many solicitors are likely to be reviewing their cash flow and considering ways to improve their financial health. Positive cash flow is...
Sole practitioner retirement and the importance of being preparedRetirement plans are something we all need to think about as we get older. Retirement is a time that most of us look forward to as it provides us with the opportunity to get some much-needed rest...
Professional indemnity insurance renewal: Solicitors face problemsAs the traditional 1st October professional indemnity insurance (“PII”) renewal date approaches, law firms are being urged to start the process of renewing their insurance now. With changes in the legal...
Retirement Project - Grant Saw Solicitors LLP
“With our claimant personal injury partner retiring in we decided the time was right to step back from PI work. We reviewed the market options, were disappointed at the discounts being applied by potential buyers of the WIP and were referred to R&R’s offering the full realisation of WIP over time. It has effectively delivered what it “said on the tin” - over the project period we have seen a steady flow of receipts being accounted for to us, allowing us to recover the full value we had built up in the files."
- Mike Clary, Partner
Restructuring Project - Copley Clark
“Having taken a strategic decision to be completely step out of the claimant personal injury sector we were R&R’s first client to step back on a phased basis. R&R customised their offering specifically for us and I am happy to say it has worked a treat. We could focus our own resource on matters where we had a possibility of concluding within our timetable and utilised R&R’s panel firms to continue to work on other matters. Not only have their services allowed us to retain the value we had built in the files, the nature of the services ensured we were able to offer our clients the option of moving to firms with the skill sets required to best service their specific needs. For firms considering restructuring we would have no hesitation recommending R&R Solutions."
- Malcolm Lawrence, Partner
Restructuring Project - Farley Dwek Solicitors
" We had an extremely positive experience working with R&R Solutions after making the strategic decision to move away from an area of law and retune our business model. The process was very straightforward, and we were really pleased with the overall outcome. We would highly recommend the Recovery First model as a practical solution to any law firm wishing to exit a specific sector.”
Jonathan Dwek, Director
Ticking all the boxes for a quick, clean, confident exit from legal markets due to restructuring or retirement.
Contact us now in the strictest confidence
07774 205 870
07887 796 989
106 Kennedy Building
PO Box 632