It is said the two best days of owning your own yacht are the day you buy it and the day you sell it. I think a similar analogy could be drawn from running your own law firm.

The pride of setting up your own practice, operating under your own rules, on your own timetable, and being answerable only to your clients sets the course for a big new adventure. It did for me when I set up my own practice some years ago. Essentially a sole practitioner, with a loyal PA and a small team of solicitors, I had achieved my long-held goal. However, the reality of running your own small practice turned out not to be all I had hoped. Increasing compliance, the complexity of maintaining a client account, personnel management, and ongoing training were all challenging. The cost of office space, rates, equipment leasing, and the end of micropayments and subscriptions all collectively diminished that all-important figure on the bottom line. Above all else, however, the annual gauntlet run of securing professional indemnity cover, even with a clean claims record, was, for me, the ultimate reason why I considered an alternative to the sleepless nights and overwhelming workload, of which an ever-decreasing element was actually fee earning.

I looked at my options: work in-house: too restrictive, and it would mean abandoning my clients. Go back to a law firm as an employee. I quickly concluded that had little appeal for me. As a person in my late 50’s, having worked for myself for many years, I rightly considered myself unable to work to another’s timetable, to account for my every waking hour, to commute!

My third option (after discounting ice cream salesman—too seasonal—or nightclub singer—I actually only ‘think’ I can sing) was to join a law firm offering a consultant model arrangement. I retain my independence, stay self-employed, and manage my own time to best serve my clients and balance my work and family life. Yet, of far greater significance, that really only became clear to me after I joined Taylor Rose, was the fact that everything that goes on behind the curtain that enables me to provide legal services to clients and, in turn, generate fees, is undertaken by others on my behalf. What I also quickly came to appreciate was that the amount of what is required to enable a modern law firm to function is far more than I could ever have achieved as a sole practitioner.

I chose Taylor Rose above other practices that operate a consultant model, primarily because it is the largest practice of its kind and because it has a powerful infrastructure that includes fantastic support and multiple offices across England and Wales. Added to this, the IT systems, while far from perfect, enable you to work remotely from anywhere in the world. Physical mail received is scanned and emailed to the relevant fee earner every day; document management, internet-based telephony, and video conferencing are all fully integrated, enabling access from wherever you choose to be.

Above all, I have found that it is a practice that cares; the partners are approachable and supportive. The owners are independent, entrepreneurial solicitors with proven track records, and they offer opportunities to grow your own practice and build upon what you bring to the firm. That has certainly been the case for me. At the time of writing, I have been with Taylor Rose for just nine months. My only regret is that I did not make the move sooner.

Taylor Rose has provided a complete concierge service to me and, in turn, to my clients. Every aspect of the structure of the practice that supports consultants has been honed and perfected to enable the consultants to work effectively and profitably. Accounts, training, and marketing (including the constant flow of new work being offered), through to IT, file opening, as well as KYC and AML, are all provided at no additional cost beyond the flat percentage deducted from billed and paid invoices. My sole focus since joining Taylor Rose is that of fee earning. As a result, my fee earning has increased, and the clients get more of my time directly than when I ran my own practice.

Another unexpected benefit was that, being such a large and well-recognised practice, the name Taylor Rose gave me instant recognition and credibility, as the reputation of the practice and its very brand identity are immediately known and respected. As a sole practitioner, my practice was little known and held no status compared to large practices. That disadvantage is eradicated once you become part of a nationally recognised law firm.”