Hill Dickinson and Kennedys announce plans to convert to alternative business structures
Hill Dickinson and Kennedys have both announced plans to convert to an alternative business structure, joining a host of other leading firms that are making the move. The ABS model allows non-lawyer ownership of law firms through external capital injections or a float, and allows law firms to tag on non-legal services.
The Solicitors Regulation Authority reports that it received 65 applications from law firms and non-legal companies to convert to an ABS since it started accepting applications earlier this month
DAC Beachcroft, Withers, Field Fisher Waterhouse and Keoghs are all considering an ABS conversion.
Hill Dickinson managing partner Peter Jackson said: “We are currently focusing on opportunities with clients to enhance individual products we provide. This may entail joint ventures with an input from clients of both finance and expertise.”