UK 200 position: 98
Scotland’s Anderson Strathern had a good year in 2011–12 as its July 2011 merger with Edinburgh property firm Bell & Scott bedded down.
At the time of writing the firm's turnover for 2011–12 was subject to amendment, but the firm projected a figure of £23m. That is a rise of 8.5 per cent on its 2010-11 figures, which included two months’ worth of Bell & Scott figures. In its last full year as a standalone firm Bell & Scott, which had a May year-end, turned over £1.8m.
While the enlarged firm has a property focus, with a third of 2011–12 revenue coming from that practice, the Bell & Scott team was designed to bolster other practice areas. As Bell & Scott was a pure property player it could not offer advice in other areas; Anderson Strathern has been offering its services to those clients in other areas, with private client being one beneficiary.
As part of its private client offering the firm operates a wealth management business, Anderson Strathern Asset Management, which was spun out of the main business in September 2011. The asset management arm contributed fees of around £1.2m to the firm’s 2011–12 total.
Profit margin was 26 per cent in 2011–12, with the firm's 37 equity partners receiving an average profit share of £145,000. The firm operates a modified lockstep that sees partners enter the equity on 66 points and generally progress at two-year intervals to 75, 90 and then 100 points, though progression is not automatic.
Analysis from The Lawyer
Office launches and mergers as Scottish firms battle a flat market
Overview1 Rutland Court
Turnover (£m): 23
Total lawyers: 143