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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

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

NEWS
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
Bea Rossetto of the National Pro Bono Centre makes the case for ‘General Practice Pro Bono’—using core legal skills to deliver life-changing support, without the need for niche expertise—in this week's NLJ
Charles Pigott of Mills & Reeve reports on Haynes v Thomson, the first judicial application of the Supreme Court’s For Women Scotland ruling in a discrimination claim, in this week's NLJ
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