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Halloween horrors: Don’t get spooked, how to avoid joining the wrong law firm
Nexa was set up in 2017 as an “alternative law firm”, effectively a regulated platform for self-employed solicitors. Our intention was to be different from the status quo. We wanted to build a business that would enable lawyers to do the job they love, in a working environment free from things such as hierarchies, glass ceilings, unhealthy politics and rigidity common in many traditional UK mid market law firms.
Lots more new model firms and platforms have since joined the marketplace and, while diversity of legal offering is good for all of us, it means there is now a bewitching amount of choice for solicitors looking to change their career paths and become consultants. But not all consultancy law firms are the same, and it’s all too easy to fly off in the wrong direction so thorough due diligence is a must.
Here are our some questions we recommend you ask to ensure you make the right choice for you and avoid the nightmare of joining the wrong shop:
- What is the culture and ethos of the firm? Do you get the right feeling about it? Can you imagine yourself there and feeling comfortable?
- What will your employment/tax status be: employed, self-employed, worker, contractor, working through a personal service company?
- Is the firm regulated by the SRA (and any other relevant regulator)? This may be of importance to your future clients and give you an insight into the culture of the firm.
- How much support will you get with things like billing, regulatory matters and administration, IT, marketing/PR, CPD and other training?
- What % of your practice income will you need to pay to the firm on the fees you generate? Is this transparent and easy to understand? Is this likely to change in the future?
- What are the working arrangements – fully remote, hybrid, office based?
- How much professional indemnity insurance cover will you have and will you be expected to pay any excess?
- How much flexibility will you have to set your own working hours? And days off, breaks, holidays etc?
- How will you find clients? Will the firm help with this or provide work?
- Are there any billing targets to be imposed on you? If so, are these realistic?
- What work are other lawyers at the firm doing? Do they have the specialisms that you may need to help with your clients/practice?
Want to find out more?
If you’re interested in finding out a bit more detail about life as a consultant lawyer and what we can offer you at Nexa, check out our careers pages here or, have a look at our brochure. For a confidential, no obligation chat, contact David Roth.