The Association of Solicitor Investment Managers (Asim) has set up a strategy committee to oversee a three-year business plan.
It is the first time that the group has put resources into developing such a plan.
According to a spokesperson, the three will look "at areas of concern and will also look at how to expand in the Midlands and Wales".
Asim has also appointed Thornton Jones to look into Government plans to develop a individual savings account and to ensure that solicitor investment managers will be able to operate such accounts.
There are some fears that if a new Tessa-type scheme was introduced, only banks could operate these, pushing solicitors out of the picture.