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Russell Jones & Walker (RJ&W) has signed a business partnership with financial services adviser Towry Law.
The two will operate a loose referral system, which takes affect as of today [26 March].
Towry Law, which has a network of offices around the UK, advises individual and corporate clients on financial issues including investments, mortgages, benefits and pensions.
The relationship is most likely to provide services to the firm’s personal injury clients and private clients, rather than its trade union clients who already have their own financial service advisers.
RJ&W senior partner John Webber said, “Our clients’ legal matters are fundamentally linked to their finances and this new partnership will offer them access to professional specialist advice in both areas.”
RJ&W is currently in the process of completely reviewing its business model with the help of its trade union, the GMB.
The move comes as the option of fee-sharing within the legal market could be introduced as early as summer 2004, which will allow external funding for law firms.