A NEW advisory panel is aiming to help barristers with their personal and professional finances.
The Bar Council, together with Rossalynd Lavington, senior consultant at Allied Dunbar, has assembled a service to help combat cash flow problems and poor financial planning among barristers.
Allied Dunbar says barristers are in a vulnerable financial position because their advocacy work is paid for only when their cases have come to an end.
The advisory panel, launched at the recent Bar Conference, can advise on matters such as pension planning, life and private medical insurance, critical illness and various investments. Additional products are also in the pipeline, tailor-made for this new market.
The Bar Council's chief executive, Neil Morisson, and Martin Bowley QC were involved in the launch of the new scheme.
According to Christina Bowman, media relations manager at Allied Dunbar, barristers have already started to ring in asking for more information.
She says that although this service is not currently available to solicitors, the financial services group would be prepared to lend its expertise if there is sufficient interest.