Advisers and solicitors are embracing the idea of working together after new legislation, which comes into force next week, will make it easier for them to establish a more permanent working relationship.
From March 31, solicitor firms can apply for the status of Legal Disciplinary Practice which means up to 25% of their business can consist of non-lawyer managers, including advisers. The services provided must be legal but for the first time ever, non-lawyers can be involved. David Seager, development director at SIFA, a support group for IFAs who work with solicitors and accountants, says advisers have always wanted to develop solicitor connections and law firms too are starting to reap the rewards. He says SIFA has noted an increase in the number of enquiries in recent months: "Since ...
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