Frustration among lawyers at 'epidemic' levels, claims Keystone founder

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  • Greetings my fellow lawyers. It is me again. I too have been feeling this great 'frustration' you talk about. It is a feeling that comes to me at night sometimes when I am lonely. As with the esteemable Mr Knight, of the Keystone law, I believe it is only by many lawyers rushing to me that this frustration can be answered.
    (Polite question regarding clients of the keystone, what is the 'Snog Yoghurt', and where can I buy it?)

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  • It looks like it might be a good move for some of the lawyers but any discerning client will see it for what it is:

    a bunch of random sole practitioners with a managment team looking to build a volume business that gets flipped into an ABS at the first decent whiff of a good deal for management

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  • Dear Anonymous - what a shame you didn't disclose your name so we could all compare the success of your firms with those of the new model. Your business model is dying. Not a single one of our clients or contacts has ever expressed the vaguest nuance of doubt over the quality of our work or our dedication to their cause.
    19th century roots and big offices do not a successful commercial practice make. Just ask Cobbetts.
    #dinosaur

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  • As opposed to a bunch of random partners in a traditional commercial law firm - looking to increase PEP at the expense of their staff and/or clients irrespective of economic conditions.
    Which is why ABSs and the likes of Riverview Law will continue to find plenty of easy pickings amongst potential new clients disgruntled with lack of value that the traditional equity model delivers to them.

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  • "a bunch of random sole practitioners with a managment team..."

    Isn't that what most law firms are? I don't think most clients really care what structure their lawyers work in, so long as they get the service they require - which is generally delivered by inidvduals and not large teams.

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  • I would suggest the Partnership model is far from dead but like any structure over time needs to continual evolve and reflect changing market conditions.

    Well run, Partnerships can be both flexible in responding to more competitive times, and allow scope for fully rewarding both the current high flyers but also naturing the stars of tomorrow.

    Good management with guidance and light touch can best utilise the benefits of the Limited Liability Partnership.

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  • It's probably a model that works very well if a client wants to consult a specialist at a fraction of the cost of going to a city firm.

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  • Oh, I think frustration is just the tip of the iceberg. Add to that exhaustion, demoralisation, stress and burnout and you'll get a more rounded picture.
    When I work with stressed out lawyers, they tell me tales of nothing short of crushing brutality. It's not that I am a shrinking violet when it comes to the corporate world. I know it's all about the money, stupid, and that's just fine. But those are real human beings making that money and they have certain minimum requirements to make it worth their while and being treated with common humanity is one of them.
    What the big firms need to realise is that when you leave people with nothing to lose, you put yourself in a vulnerable position. James Knight's initiative is perhaps just one sign of this.
    Eimear Mc Allister
    www.ProductiveLawyers.com

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  • Anonymous | 30-Jan-2013 2:47 pm said this :-

    "a bunch of random sole practitioners with a management team..." Isn't that what most law firms are?

    No, I disagree.....some of them don't even have a management team....good ones like our clients do I'm pleased to say.

    Regs....David.

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  • I've been on the fence about attending law school; the possibility of leading a halfway normal, entrepreneurial lifestyle while retaining affiliation with an established firm IA a teal game-changer for me and makes practising law seem ever more attractive.

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  • Well done James and good on ye Keystone! The future for law firms is to incorporate. Focus on what the clients want and not what the competition are doing. The answers are out there. Have an open mind and go find them...before it's too late.
    www.RemarkableLaw.co.uk

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