The Legal Services Continuum (LSC) programme has the vision to enable the legal and related professions to co-operate through #VirtuallyOne collaborative framework as easily as they can use the telephone today.
As the programme approaches its first year anniversary, it can now offer something for everyone right across the profession, form –
- Senior solicitors looking to retire with better pension pots, to
- Qualified legal professionals and practice managers with a hunger for growth, and
- Law graduates looking for a way to break into the profession.
We explain why and how below.
Improving personal pension plans
The first phase of the LSC programme was developed by and for the primary benefit of senior solicitors looking to retire in the next 2-5 years.
It promised, amongst other things, to help boost the profitability of their legal practice; allow them to gradually reduce their working hours by handing over client relationships to a select community of practice professionals to continue their good work in looking after client interests; and to retire with an added boost to their pension plans through a share of fees earned from their hard earned ‘following’ and legacy practice name which the programme ensures lives on.
Risk free expansion and growth
While seasoned solicitors are looking to winddown, younger ‘hunter gathers’ have a thirst for new challenges, a hunger for growth and a desire to make their mark — yet little appetite for risk. Neither do insurers and regulators for that matter.
For practice owners, conventional mergers and acquisitions as a root for growth is fraught with risk. Even if the financial due diligence stacks up, essential IT integration projects often fail to finish on time, go over budget and rarely deliver any real business value; misaligned business processes lead to duplication and waste for all concerned; and differences in behavioural traits and characteristics among leadership teams and the general workforce is by far the most common cause of failed mergers and acquisitions in any industry, not least the legal sector where the consequences of regulatory breach can be catastrophic.
Employed practice managers and independent consultant solicitors will rarely have the capital or ‘following’ to setup practice for themselves. Whether locked in an overcrowded corporate structure, or making a living through a portfolio of work in today’s ‘Gig Economy’, the prospect of making partner is also unlikely.
In contrast, the ‘continuum’ programme partnership model proven more profitable for lawyers and legal practices alike compared to conventional alternatives. It offers entrepreneurially minded solicitors truly unique, innovative and risk-free ways to profit through partnership – including: –
- An expanding list of live files to work on
As more seasoned practice owners join the LSC programme on route to retirement, consultant solicitors are assigned to help with the arduous job of meeting regulatory requirements for practice closure. This includes managing the transfer of all active matters from the closing practice into an absorbing structure, through which they continue to work on the file in partnership with the retiring member. This provides younger consultant fee earners with an intimate understanding of the practice, its culture and clients – enabling them to build trusted relationships with the hard-earned ‘following’ of the practice, and to ensure the good name and legacy of the practice lives on.
- Operational, peer and paralegal support
All Coplexia legal consultant work by default under the Lexia Law name, but qualified solicitors entering the LSC programme can also work within and across any number of programme partner practices some of which have their own practicing names including traditional firms such as Fairchild Greig & Co. (est. in 1919) or modern forward looking names like Axiom Stone. As well as access to the people, offices and facilities of each programme partner, each consultant solicitor is supported by a shared pool of interns, trainees and paralegals through the Coplexia graduate Intake Programme (GIP).
- Revenue generating team and project work
Coplexia consultants are encouraged to participate in value and revenue generating projects and initiatives such as helping practice partners deal with residual balances as part of their practice closure activities; working as part of our multidisciplinary bid team charged to respond to Invitations To Tender (ITTs) and Requests for Proposals (RFPs); or excavating our forever expanding aggregated wills bank with hidden treasures in private client work.
Breaking into the profession
The Coplexia Connected Campus Communal (CCC) programme provides law students and graduates with opportunities to enter into the profession as paralegals and trainee solicitors working for the legal practices and professional partners participating in the LSC programme.
We manage a mutually beneficial mentorship mechanism, whereby each intern and, or trainee is assigned to a qualified solicitor as their mentor for general career advice, and supervision over a variety of fee earning work experience under the overall guidance of a Principal Trainer.
This helps interns and trainees learn to fend for themselves through an ‘earn while you learn’ approach that also benefits from sponsorship opportunities through highly innovative and commercially sensitive projects across the private, public and third sectors.
Unlike conventional trainee solicitor programmes, the LSC programme provides unparalleled insight and first-hand experience into the operational running of an efficiently run modern practice, as well as the trials and tribulations of the transformational journey poor performing practices have to go through before they reach success.
“After the horror stories I’d heard about legal internships, when I got the job offer, I pictured 12 months of working in a dusty office with files waiting for me to scan. The picture was far from reality when I started with Coplexia. I found myself in plush board rooms being invited for opinions and ideas as a value member of the team right from day 1.”
Student of International Law, Kingston Business School
Trainee Co-BRA Consultant (2017/18)
Want to know more?
Request a call back or meeting with the LSC programme director, Amir Khodaparast.