Business is booming for costs lawyers as the intricacies of costs budgeting drives solicitors to their door in ever greater numbers, the Association of Costs Lawyers (ACL) annual survey of its members reveals.
More than half of respondents reported a “significant” increase in demand for costs budgeting advice in the past year, with a further 28% saying it had increased “slightly”. Consequently, more than half have taken on more staff, increased sales and marketing, undertaken more advocacy and diversified their practice into related areas such as alternative dispute resolution, work in progress valuations and legal project management.
Three-quarters expect their practices to grow further, and one quarter will recruit a trainee, in the next 12 months.
When asked how the new budgeting regime was working, more than half said it depended which judge they were before— reflecting wider concern in the legal profession that judicial inconsistency is undermining the regime. Some 40% have discouraged solicitors from taking on less straightforward cases, and 31% believe the reforms have tilted the playing field in favour of defendants.
ACL chairman Sue Nash says: “The Jackson reforms have ushered in a new era for costs lawyers—one where they play a critical role in managing costs from the start of a case to the end. It is satisfying to see how many are looking to spread their wings into other areas where their skills and experience, which cover far more than their core costs drafting role, can offer real value to solicitors, their clients and others.”
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