New consultancy scheme allows solicitors to earn up to 80% of their fees – doubling their income.
Dublin-based Gibson & Associates Solicitors has become the first law firm to offer consultant opportunities to solicitors with a broad range of experience across a wide range of practice areas.
Previously, in Ireland, these types of consultant solicitor opportunities were only available to those with specialist corporate or commercial experience.
The scheme offers solicitors flexibility, a healthier work-life balance and better rewards, with consultants being paid up to 80% of fees for the work they introduce and conduct under the Gibson & Associates umbrella. An employed solicitor earns on average only 30%-40% of their annual billing.
Daireann Gibson, managing partner at Gibson & Associates Solicitors, said: “As the cost of running a firm continues to escalate, it is not practical or sensible for a highly trained and experienced legal practitioner to have to spend an enormous amount of time and money on sales and marketing, administration, compliance, finance, office management and HR.
“Creating a network of consultant solicitors is a no brainer for us with the current state of the legal market. Consulting is no longer only an end-of-career option used by senior lawyers and partners as a way of easing into retirement. It is now a dynamic and simple way for a solicitor to create their own business with the administrative support of a law firm behind them.
“We want to afford really skilled practitioners the ability to ‘crack on’ with what they are really good at – namely being a solicitor that does legal work.”
Benefits of becoming a consultant solicitor include:
- An ability to set your own business targets and manage the number of clients you want to take on at any given time
- Access to expertise from a multidisciplinary team and a full range of admin, paralegal and support services
- A fairer financial reward for the work you bring in and complete for your clients, with a better balance between work and pleasure
- No additional worries about professional indemnity insurance, funding, premises and other overheads related to operating a regulated law firm
Daireann said: “Flexibility is one of the main benefits to solicitors who decide to work within this model. They can decide how they work and, very often, when they work. This allows them to achieve a balance in their life – between professional and personal life – that is simply not achievable under traditional working models.
“Remote working is really the only way forward for the legal industry, as well as many other office-based jobs. No longer should solicitors be tied to an arbitrary Monday to Friday, nine-to-five work schedule. They should be able to work from anywhere as flexibility is essential for better serving clients and generating a much healthier work-life balance.”
The Gibson & Associates consultant solicitor scheme is suitable for solicitors with a minimum of six years’ post-qualification experience. That are working in a legal firm or who already have their own legal practice. To find out more, visit HERE.
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