Exploring remuneration options
Exploring remuneration options

The following In-house Advisor practice note provides comprehensive and up to date legal information covering:

  • Exploring remuneration options
  • What is at stake/what is it worth?
  • Types of fee and suitability
  • Effort to put fee arrangements in place
  • Quid pro quo from you as client

Exploring remuneration options

What is at stake/what is it worth?

You should ask yourself what lies behind the use of the firm you have selected, for example, are you:

  1. relying on their expertise with serious implications for you if they get it wrong—is there something else you should be doing to manage the possible downside rather than thinking about their insurance cover?

  2. mobilising their reputation and resources to reach a successful outcome—this may merit a premium, but what if that is overkill or the outcome is not successful?

  3. using them for work which you could do but don't have the resource—are there other ‘manpower’ providers which might be a better solution?

Types of fee and suitability

Pros and cons
Hourly rateEasy to apply, but not designed to encourage focused effort
Blended rate—each fee earner is charged at the same ratePopular in labour intensive transactions, but
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