Last month, our Director, David Johnstone, spoke at Legal Future’s annual conference.
The event focused on how the legal landscape has changed since the introduction of the Official Injury Claim portal, almost a year ago. David discussed the area of “getting out of RTA,” and explained the options for solicitors considering an exit from the RTA market.
David was joined at the conference by speakers from personal injury law firms, as well as businesses providing services to the legal sector and representatives from MOJ and the MIB.
David Bott and Jeremy Brooke from our panel firms Bott & Co and SSB Law, along with Jeff Winn from Winn Group, also spoke to the conference delegates about how they had embraced the changes and identified innovative ways of diversifying into other areas, primarily in the consumer claims arena. They discussed the pros and cons of new consumer claims such as:
- Cavity wall claims
- Energy mis-selling claims
- Plevin claims
- Flight claims
- Timeshare mis-selling claims
They also explained how technology, the right staff and training had enabled them to rapidly ramp up the number of matters that they were able to handle, in what is, in many cases a ‘high volume, low value’ area.
Jeremy Brooke from SSB Law further discussed “second mover advantage”, and how those firms following first movers into the market may actually capture a greater share of new markets.
How R&R Solutions can assist
Speakers at the PI Futures conference have highlighted the importance of keeping up with and preparing for changes within the legal market. If you are considering an exit from the RTA market to move into new areas, such as the consumer claims markets listed above, R&R Solutions can assist.
R&R Solutions offer a unique service to any law firm wishing to exit any market. We provide a positive option for those wanting a structured exit from the RTA market as a result of recent changes.
The unique scheme offered by R&R Solutions is suitable for both law firms and professional advisors. Our team manage the transfer of files from start to finish; placing case files with an approved panel law firm to protect the integrity of the client’s case, whilst maximising the value of their WIP.
If you would like to find out more about R&R Solutions’ process, please get in touch with David Johnstone via email email@example.com, telephone 0788 779 6989, or contact Sally Dunscombe at firstname.lastname@example.org or 07774 205 870.
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