ILFM June Newsletter

We are holding our Legal Finance & Management Forum tomorrow at the fabulous offices of Howden Insurance Brokers in the City of London. We look forward to those attending and chatting all things ...employee (including partners) wellbeing for risk management and cashflow.

Guest speakers are Leah Steele , Ian Johnson and Joel Harding with our Head of Professional Development, Karen Edwards FCILEx ILFM(Dip) , chairing the chat.

TRAINING coming up:

Legal Practice Management, PART ONE: Strategy, Leadership & Risk Management.

What will it cover?

Strategy

• Starting from the right place
• Contents?- what to include
• A ‘how to’ guide for pulling it all together
• Stress testing your strategy

Leadership & Management

• What is it?
• A model of law firm culture
• Emotional intelligence, your personality profile and its impact
• 9 attributes of the best firms

Finance

• How do law firms make money?
• ‘Good’ management information
• 3 key rules
• Why jobs go wrong

WHEN: Weds 28 June from 10am to 1pm

WHERE: Zoom (online, live & interactive)

BOOK HERE (open to members and non-members)

BLOGS

Interest rate increases & law firm cashflow (Some law firm owners and partners may wonder if this is a legitimate source of income and whether looking around for better client rates could be non-compliant. Interest earned on client money belongs to the firm and is a legitimate source of additional income as well as improving cashflow. Examples in this blog).

READ HERE

Training for the role of a COFA in a law firm (if your law firm is authorised by the Solicitors Regulation Authority (SRA) then there is a requirement that a COFA and a COLP is appointed.)

READ HERE

Double Entry Bookkeeping Guide for law firms (all legal accountants and cashiers must know how to balance these!).

READ HERE

DATES for DIARY:

• October 12th - ILFM Legal Accounts & Management Forum (Manchester)
• November 16th - complimentary Beaujolais Nouveau networking drinks with our friends at Iceberg Group (part of Paragon Bank). London early evening! (no supplier tickets).
• November 23rd - ILFM Virtual Conference (jump on via Zoom and hear from our fabulous speakers!).

SRA updates

Don't forget to keep tuned to the SRA's site too, but here are some interesting updates from them:

• Consumers and law firms find reviews helpful, but more to do to enable easier comparisons READ HERE
• Legal Services' consultation. The SRA has launched a consultation on its proposed Corporate Strategy for 2023–2026.Alongside publication of the overall strategy, they are also consulting on the finer detail of their business plan and budget for 2023-24. They have a three year plan with four high level objectives... READ HERE

That's enough for now! Do keep in touch through our LinkedIn page, or email us ([email protected]) if you would like to know about becoming a member (or that of your colleagues or staff).

We also have a MEDIA PACK if you would to work with us through sponsorship, advertising or becoming part of our member rewards (adding value to our members).