Relationship Management approach to be applied to larger firms
A Relationship Management approach has been piloted by the Solicitors Regulation Authority and will be rolled out across larger firms as part of the move to outcomes-focused regulation.
The pilot scheme has been in progress since late 2010 when over 60 firms across England and Wales put in their applications to be involved. Only 19 firms were selected, representing different sizes, types and geographical areas.
The firms were then categorised into groups to represent global and city, national, regional, niche, local and sole practitioner.
A five-step “cycle of engagement” process was carried out, involving a team of Relationship Managers who identified, assessed and then addressed the risks faced within the firms.
The SRA have now published their report where it has been agreed that the Relationship Management scheme will continue for large and complex firms.
Suchitra Hammond, SRA Relationship Manager, commented:
"The feedback from all firms was overwhelmingly positive. They saw Relationship Management as an appropriate alternative to our previous engagement processes, which was evident from the way in which they engaged with us as part of the pilot.
Because of the resource-intensive nature of Relationship Management, we had taken the view that it would be most fitting for large and commercial firms. The evidence we’ve collected since we started the pilot proves this to be the case, so we will be rolling out the programme to work with these practices in this way."
If you would like more details about the SRA’s Relationship Management approach you will find all the details here.
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