Law Society sets out five year vision for Legal Services

The Law Society has published a report outlining how it sees the legal profession changing between now and 2021.

The report titled “The Future of Legal Services” outlines five drivers of change: global and national economic developments; how the public and corporate clients buy services; technology and process innovation; new entrants and wider political agendas.

Foreign investment is seen as key with money coming in from countries like China, Russia and India, with the uncertain result of the upcoming EU referendum also threatening the UK’s position as a global financial centre.

Law Society chief executive Catherine Dixon said: “Individuals and businesses seek and depend on excellent, affordable legal advice at critical times. Solicitors are innovators and are responding to changes in a highly competitive legal services market.

“With the upcoming Competition and Markets Authority study of the legal services market and the government’s consultations on opening up the market to more alternative business structures (ABS) and the separation of the legal services regulators from legal professional bodies, it is timely to look at the factors driving change to stimulate debate among solicitors as they plan and prepare for the future.

“Our report is evidence-based and provides the context for the future competitive and regulatory environment. It is also part of the Law Society delivering its strategic aim of supporting solicitors so that they can make informed decisions about the future.

“As the government consults on the future of regulation and the market, we will call for a fair regulatory playing field for all legal services, and for the solicitor profession to set and work to professional standards which it sets for itself. This will set them apart from non-lawyer providers.

“The Law Society will support solicitors through this period of change by upholding professional values, ethics and standards, raising awareness of innovative ways of operating and promoting the value of using a solicitor to the public.”

Today's Conveyancer