Small and medium-sized law firms keep an average of £354,000, or 60% of their funds, squirreled away in business savings accounts, bank research has revealed. Charities invest the most, 77% of total funds, in business savings and the national average is 57%, according to research by Hampshire Trust Bank. More than one quarter of law firms said they were increasing the amount of cash in their firms, to build a cash buffer against unpredictable times following the EU Referendum.
06 October 2016
Law firm savings
MOVERS & SHAKERS
Eversheds Sutherland—Claire Petheram
Eversheds Sutherland strengthens top-ranked pensions practice with appointment of former global head of pensions
mfg Solicitors—Hannah Finnegan
Law firm strengthens private client team to support continued growth
Devonshires—Andrew Cromb
Devonshires expands offering with appointment of tax partner Andrew Cromb
NEWS
Mr Justice Nicklin’s decision to order costs on an indemnity basis may be a ‘significant win’ but it’s still ‘far from game, set and match’ for Associated Newspapers, a former costs judge has said
The Law Society RFC Festival of Sport returns next month, bringing together legal and financial services professionals for one of the sector’s largest annual sporting events
Legal aid deserts leave almost one in four without adequate access to justice
The Solicitors Regulation Authority (SRA) has warned solicitors and law firms that using artificial intelligence does not alter their professional obligations, amid concerns over inaccurate legal material and client confidentiality
Can a meticulously maintained spreadsheet turn a couple’s informal financial arrangements into legally enforceable obligations?
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