Legal Services - A change in industry norm
Stereotypes can be oversimplified, but they often contain some truth.
The legal profession is frequently seen as inaccessible, expensive, and sometimes delivering subpar service. While many professionals are working to modernize the industry, change can be slow and challenging to implement.
The legal sector, though a service industry, operates under unique constraints. When including regulatory requirements, these often translate into increased costs and complexities for clients - not to mention the professionals themselves.
Regulation
The regulatory framework governing legal services can be complex to navigate. Some important aspects of practice aren't adequately addressed, while other, less critical areas receive disproportionate attention. Communication with regulators can sometimes be unclear, leaving practitioners uncertain about expectations until after the issues arise, at which point it is often too late for the clients and professionals.
Insurance
Professional indemnity insurance for solicitors has become increasingly costly, to the point where it can significantly impact a firm's viability. For small firms, insurance premiums can represent a substantial portion of their turnover, potentially limiting their ability to grow or hire additional staff.
Worry over claims translate into worry over negligence, which means difficult or complex advice ends up staying complex, rather than being simplified.
Complaints
The rise in complaints culture has led many firms to adopt a more defensive approach to practice management. While insurance provides necessary protection, there's a risk it becomes a justification for higher fees rather than a value-added service.
What can be done?
We are asked to put clients first, but in reality lawyers put their risk appetite first, then clients, then their business. Putting business last means basic elements are forgotten, like customer service (which is often an after thought). This needs change, so the focus on ‘put the clients first’ is put into practice with the correct foundations in place.
These issues represent only a fraction of the challenges facing the legal profession today. In a forthcoming series of articles, we hope to explore various aspects of legal practice and consider potential improvements. The primary focus will be on costs and service quality - the two factors most important to clients.
How can the surrounding issues affecting daily life as a lawyer be improved to improve on costs and quality of service?
Currently, many of the profession's challenges are inadvertently being passed on to clients, either through increased costs or a more cautious approach to service delivery.
By examining these issues openly and thoughtfully, we hope to contribute to a constructive dialogue on improving the legal profession for both practitioners and clients alike.
If you would like to learn more about us and how we work, drop us an email or fill out our contact form
