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Rise of the legal consultants
The alternative platform law firms that are changing the way lawyers work
1 in 3 lawyers could be working as legal consultants by 2026
A growing number of lawyers are leaving traditional law firms in favour of self-employment under a revenue-share model.
In fact, it’s predicted that a third of all lawyers in the UK could be working for one by 2026.
What’s causing top lawyers to trade in their cushy law firm partner salaries to work as legal consultants?
- Commission, firstly. Platform law firms such as Keystone Law, gunnercooke and Taylor Rose pay lawyers approximately three quarters of their billings – which can equate to millions for some!
- Secondly, work life balance. Legal consultants can choose when they work, how they work and where they work. It’s completely up to them.
- Thirdly, client relationships. Instead of leading teams, the entrepreneurs in amongst the bunch want to work directly with clients and drive business.
Could lawyers at your firm be enticed by any of the above? And, perhaps more concerningly, would your clients follow them if they left?
In this LexisNexis report we speak with:
- The lawyers who left
- The clients who followed
- The platform law leaders and CEOs
- The legal market experts predicting change
- The flexible resourcing arms of Magic Circle firms
- And much more.