Consultancy Clarity Legal has today (3 November) launched a subsidiary focused on giving advice to law firms that are restructuring their business.
GTA & Co will give advice to firms that contact it directly, but also has referral relationships with two high street banks and one of the top five accountancy firms.
If a firm is looking for a merger or acquisition partner, GTA will turn to Clarity Legal’s network, consisting of firms that typically have between 10 and 15 partners, to find a potential suitor.
Clarity Legal director Stephen Allen, who was formerly the chief executive of Seven Bedford Row, said services like Clarity Legal’s are needed as the Solicitors Regulation Authority has made 26 per cent more interventions into law firms as a result of the current economic climate compared with last year.
“With the market getting tougher, we can advise on the options to ensure a financially stable future,” said Allen. “When Clementi comes in there will be even more innovative options and things that can be done.”