Family and insolvency niche practices become ABSs

Liverpool firm Tracey Miller has become the first family law specialist to be licensed as an ABS, with business development manager Anthony Hool, a non-lawyer marketing specialist and paralegal, to join as a director when their license becomes effective on Friday (31 August).

“It’s a brave new world out there and we feel that we have to be on the cutting edge,” Hool said. “When, and if, an opportunity arrives, we will take it.”

Hool said the firm was unlikely to “compete directly” with the Co-op’s new family service, but had to keep an eye on it.

“We made a decision quite a while ago not to do legal aid and we aim at higher net worth individuals. We compete on expertise and customer experience.”

Hool, who is married to Miller (both pictured), will be the COFA in the ABS and legal executive Sarah McCarthy the COLP. Hool will take a minority stake in the firm, while Miller retains a majority stake and will continue to be its principal.

“I don’t know what the next year or two will bring,” Hool said. “We just need to be ready.”

Meanwhile, insolvency specialist Isadore Goldman, based in London and Norwich, was licensed as an ABS by the SRA last week.

Partner Frank Brumby said the move was “dictated by circumstances” as the six partner firm was already an LDP, since Kevin Mitchell, who had practiced for 30 years as a paralegal, became a partner last year.

“This gives us flexibility for the future and various options to expand,” Brumby said.

He said the firm had no plans to move into other areas of law or open other offices and was not considering external funding.

“We are doing very well at the moment and punching above our weight,” he added.

In a separate development, the Council for Licensed Conveyancers licensed two large conveyancing firms as ABSs last week, Enact and Total Conveyancing Services.

Enact is owned by First Title, part of First American Financial Corporation. Total Conveyancing Services is the trading name of LMS Direct Conveyancing.

Enact is the fourth firm to be awarded an ABS licence from the CLC, and Total the fifth.

Copyright & permissions