Multidisciplinary dispersed firm launches to target UK high-net-worth clients
Barrister and private banker join forces in venture with ‘fully flexible’ model
A UK-based flexible law firm targeting high-net-worth clients has launched with the goal of bringing solicitors, barristers, chartered legal executives and paralegals under one roof.
The new business, Wildcat Law, is regulated by the Solicitors Regulation Authority as an alternative business structure and is currently awaiting Financial Conduct Authority approval so it can begin providing financial services advice alongside legal counsel.
Founded by Tahina Akther, a practising barrister at Southampton’s College Chambers, and her husband David Robinson, a chartered wealth manager and former private banking director at Coutts, Wildcat Law is set to offer legal services in connection to private office, contested probate, family, commercial and property law matters.
The firm’s ‘fully flexible’ model will allow lawyers to take home between 50% and 80% of their fees depending on their level of experience. With this strategy in place, the firm said it will offer an end-to-end service, while barristers will be able to take on cost-effective remote work and remain in chambers for referral work, which Akther is doing.
On top of hiring more senior legal professionals, Wildcat Law said it plans to recruit junior lawyers to support them towards qualification and train them in client acquisition strategy.
Wildcat Law’s starting roster consists of five solicitors, three barristers and two paralegals, with two more solicitors set to join imminently, according to a statement. The group’s experience ranges from 30 years to three, the firm said.
Akther said: “Platform law firms give lawyers control of their working lives. We want all lawyers to benefit from this for the benefit of clients. It is tradition that keeps the barriers up in the legal profession and we believe that innovation can bring them down.”
“We believe the model is highly scalable,” Robinson said, adding that Wildcat Law was already going to private equity firms to fuel the firm’s “serious growth ambitions”.
Last November, UK listed law firm Ince unveiled an integrated offering for high-net-worth individuals combining legal advice with wealth management services claiming the launch of Ince Private Wealth was a first for the legal profession.