Why Lawyers are Transitioning to Consultancy Roles The legal landscape is undergoing rapid transformation, characterised by fierce competition, a flexible approach to costs and the relentless march of technology. Under the radar though, a staggering amount of UK lawyers are now currently operating as consultants, a figure expected to surge to a quarter of all lawyers by 2026 according to The Law Society Gazette, in search of a more rewarding and commercial model to trade from. Lawyers are stepping away from the traditional confines of full-time, permanent roles in private practice or in-house positions to embrace the flexibility and autonomy of consultancy. This trend is not just a fleeting phenomenon, but a significant transformation driven by various factors reshaping the profession.

Kingsley Wood: Leading the Consultancy Platform Revolution Kingsley Wood is at the forefront of the consultancy platform revolution, setting new standards in the legal industry. Our unique approach and comprehensive support system make us the preferred choice for legal consultants seeking to build a dynamic and rewarding consultancy career, with exceptional support and benefits. Kingsley Wood is at the forefront of the consultancy platform revolution, setting new standards in the legal industry. Our unique approach and comprehensive support system make us the preferred choice for legal consultants seeking to build a dynamic and rewarding consultancy career, with exceptional support and benefits. Who are Kingsley Wood? Kingsley Wood are part of the AIIC Group, recently ranked as the fastest-growing legal services firm in Europe by the Financial Times and listed in the FT1000. As a sister company to Taylor Rose , one of the UK's most successful platform law firms, we bring a wealth of experience and resources that sets us apart from other consultancy firms. We offer the stability of a well-established group with the agility of a start-up , ensuring we can respond to both market trends and individual needs quickly and effectively. How Much Will I Get Paid? We pay well above the market average for consultants: 75% of total billings and 85% for billings over £250,000. Junior lawyers can be used at no cost, allowing consultants to focus on high-value work while earning 40% of their billings. Will I Get Business Leads and Support? We provide comprehensive business development support to help you grow your practice strategically: In-house teams dedicated to lead generation, marketing, and new business. Hands-on support for consultants looking to generate more revenue and build their practices efficiently. Access to workshops and networking events that we host and fund, creating more opportunities to expand your client base. “At this pivotal stage in your consultancy career, choosing a firm without proven stability is a risk you can’t afford. Many new consultancy platforms have failed due to poor management, infrastructure, support or strategic direction - leaving consultants stranded.” Why is Kingsley Wood Different to Other Firms? Unlike other consultancy models, Kingsley Wood combines flexibility with robust infrastructure: Robust Infrastructure, Stability & Innovation Kingsley Wood is an ideal partner for those seeking both the reliability of an established firm and the innovative spirit of a start-up. Community and Growth We offer a supportive and dynamic environment where consultants can thrive professionally and personally. Our focus on individual growth and strategic input ensures that every consultant feels valued and empowered. Active Involvement & Influence Strategic Input: Consultants have a significant say in our departmental strategic direction. Our consultants are valued and recognized as integral parts of our success Build a Practice with Capital Value A unique opportunity to build a practice with capital value, without the risk of owning your own firm. Law firms are now typically sold for just 0.5 to 1.5 times their annual revenue — a fraction of what you can achieve with a well-developed consultancy practice. Free access to top-tier legal resources such as Westlaw and Practical Law. Hotdesking and meeting rooms in London, available at no charge. A collaborative community of lawyers with regular monthly partner meetings to foster engagement and communication across the firm. We host tailored workshops and mentoring programs, fostering professional development and community building No Exclusivity, allowing our consultants the freedom to explore diverse opportunities. Our open, transparent communication fosters a collegiate environment where ideas and collaboration thrive. Consultants receive full core administrative support at no cost, allowing them to maximize their earnings and focus on delivering excellent legal services. There are no membership or license fees, making it easier for consultants to join and thrive without worrying about upfront costs Kingsley Wood offers the flexibility to work remotely or in-office, giving you control over your work-life balance while maintaining access to all the resources and support needed to succeed “Kingsley Wood, backed by the AIIC Group, offers the security, openness, and innovation you need to thrive — providing a strong foundation that ensures you won't face risks but instead provide a catalyst to your success."

The private equity industry is now in the spotlight as the Private Equity Reporting Group (PERG) and the British Private Equity and Venture Capital Association (BVCA) have collaborated, releasing a consultation paper proposing significant updates to the Walker Guidelines, for Disclosure and Transparency in Private Equity. Published on 31 July 2024, this consultation marks a pivotal moment for private equity firms and their portfolio companies, the revisions of the walker guidelines was with the goal of enhancing transparency and disclosure practices within the industry.

Introduction  The structure and governance of Limited Liability Partnerships (LLPs) often raise various questions, one of which is whether it is possible for two persons to hold a joint membership within an LLP. This blog delves into this question, offering legal insights based on the principles of the Limited Liability Partnerships Act 2000 (LLPA 2000) and relevant case law.