Midlands-based Wright Hassall is the latest firm to be granted an ABS licence, as the number of organisations moving away from traditional legal services structures continues to grow.
The firm was granted its licence on 5 March. It is one of a number of organisations to have joined the ABS register this year, including BT (4 March 2013), Schillings (1 March 2013) and Simpson Millar (6 February 2013).
In a statement the firm said flexibility and growth were at the heart of its decision to apply for the licence.
“Our philosophy at Wright Hassall has always been to be at the forefront of the challenges of an ever-changing legal market and economy. By doing so we have, and continue, to be successful. Converting to an ABS gives us flexibility in our structure, enables us to better advise clients and to succeed in growing the practice,” it said.
Wright Hassall is currently not planning to seek external investment but is not ruling it out for the future.