Podcast Location:
Download it here [file size: 27.4 MB]
Part of:
SRA Handbook 2011 CPD Training Bundle
Categories:
Practice Management, Marketing & Skills
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast is aimed at solicitors’ practices interested in the changes brought about by the Legal Services Act 2007. It aims to set out the financial opportunities brought about by the legislation and how external finance compares to other traditional sources of firm finance. It aims to set out the key factors an investor will be looking at when deciding where to put their money and what they might exact in return. Focus will also be given to potential external finance has to create discord within a legal practice and how that might be managed. What are the areas of practice likely to be attractive to an investor? What role do tax and generational issues have in the future of law firms and what can the legal sector learn from industries already opened up to external financing?

THIS PODCAST IS NOT ACCREDITED BY THE BAR STANDARDS BOARD

Outcomes:
After completing the course you will:
  • Understand the potential opportunities external financing can bring to a legal practice;
  • Be aware of the potential risks of external financing;
  • Know what are likely to be the key performance indicators that will make a firm an attractive investment proposition;
  • Understand how the dynamic of a legal practice can change if external finance is brought in and how this can be managed;
  • Be aware of the likely changes a external source of finance might make to a legal practice;
  • Know which are the likely practice areas an external financier will be interested in.
Level:
General Interest Difficulty: 2 of 5
Classification:
Legislative Updates
Market Update / Hot Topic
Practical Guide
Sources and References:
  • There are no relevant citations for this podcast.
Tags:

This podcast with a professional regulation specialist and accountant discusses the possibility of law firms obtaining external finance following the liberalisation of the legal profession by the Legal Services Act 2007. It examines the risks and possible rewards, the consequences of outside ownership and what an investor will be looking for in terms of return on their money.

Podcast added: 30/11/11

Podcast last reviewed: 2012-05-28

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