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09 May 2019 / David Dolding , Martin Parish
Issue: 7839 / Categories: Features , Profession , Pensions
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Financial stress: most law firms agree they have a role in financially educating their staff, say David Dolding & Martin Parish

  • What can law firms and individuals do?
  • Self-employment and retirement savings.

An overwhelming 93.6% of law firms agree, according to recent research, that they have a role in financially educating their staff beyond pensions guidance (see ‘HR in Law and Aon 2019 Employee Benefits Survey’, April 2019). This is positive, but are they acting on it?

In our view as advisers, action can’t come soon enough from firms and individuals. It’s been a long-held perception that financial pressures are solely the preserve of lower earners, but it’s become clear that financial stress overwhelmingly impacts the well-paid too. Large houses and mortgages, private school education for kids, holidays, cars; the expenses are high and can create constant, often hidden, pressures.

It doesn’t take much to scratch the surface and see how acute financial pressures impact an individual’s emotional wellbeing. Keeping a certain standard of living can be a concern—wealthy

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MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Writing in NLJ this week, Thomas Rothwell and Kavish Shah of Falcon Chambers unpack the surprise inclusion of a ban on upwards-only rent reviews in the English Devolution and Community Empowerment Bill
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
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