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Desert island risk: can you survive alone?

Sharing client bases, joining up with financial advisers and retaining clients. Does this sound like you or your firm? Jennifer Palmer-Violet reports on why private client solicitors must get their heads out of the sand and consider integration before it’s too late

10 February 2014

Practising in today’s activities-based regulatory environment is tough for solicitors. But help is at hand for those prepared to part with tradition and share their clientele.

‘Integrate don’t delegate’ was the motto on which membership body SIFA founded itself in the ‘90s. It welcomed 235 firms to the fold with the sole aim of getting solicitors involved in financial services.

By 2001 solicitors were making for the exit, though. The technology crisis had triggered a downward trend on the stockmarket and the Financial Services Authority, as it was known, started its wave of naming, shaming and fining. There are now fewer than 50 firms in England and Wal...

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