CHARTERED ACCOUNTANTS & BUSINESS ADVISERS
At Howard Worth we have a dedicated Solicitors’ team that supports law firms across the North West, from one director businesses with a niche specialisation to long established multi-discipline firms, our advice and support is designed to help law firm leaders achieve their goals.
Partner Andrew Hague heads our specialist team. Andrew is a committee member of the UK 200 Group Legal Panel and is Howard Worth’s specialist law firm advisor. Through this role Andrew delivers training and advice to solicitors including profit improvement workshops developed by the UK 200 Group.
Our extensive accountancy support and advice for Lawyers covers:
Do delays with payments affect cash flow in your practice? Are partners disgruntled having to provide additional capital to finance the business? Would profits look better if finance charges could be reduced? Howard Worth can help through the use of our cash flow modelling tool. This can show how changes within your firm can improve cash flow.
Have you given any thought to how your practice will continue once you retire? Do you have a suitable management structure in place to develop the partners of the future? Have you considered your exit strategy? Contact us to discuss succession options for your firm and learn more about how we can develop key staff, enabling them to achieve management expertise.
Is the business efficient in generating profit? Are the hours undertaken generating the appropriate fees? Staff do not always have their focus on fee generation and how this impacts on the business’s profitability. Through our in-depth knowledge of ProfitWatch© we can deliver training to key staff so they understand they main drivers and KIP within your firm and how it compares to others.
It can be easy to fall foul of rules and regulations that were first studied years ago, however not working to these can have serious implications for your practice. Do your staff undertake regular training to refresh and update their knowledge?
Howard Worth specialise in carrying out Solicitor’s rules audits, which are undertaken in an effective and timely manner. We can tailor our compliance support with the specialist reporting requirements of the Solicitors’ Accounts Rules.
Although the documenting of worked time can seem like an unnecessary administrative task, without it, valuable fee income is lost. Recording time spent in and out of the office and compiling a detailed narrative of activities undertaken is vital for both invoicing and payments for the practice. Howard worth can help to create and implement a system of time recording that will drive efficiency and improve staff information.
For fee-based businesses, stability when the going gets tough and income fluctuates is essential. We can assist with setting appropriate fee levels, financial forecasting and managing and improving cash flow to help you weather economic storms and help with strategic planning.
How to drive Profit and Success for your Law Firm – FREE half day workshop
Running a forward thinking Law firm is complex, if feeling in control of your business is important to you will benefit from our FREE half day workshop.
The workshop is led by Andrew Hague, who specialises in Law firm accounts and will discuss how simple changes can aid compliance, cash flow and profitability, so you can concentrate on profit streams, improve billing procedures, reduce debt and strategically evaluate how to grow the business.
If this is of interest please contact Andrew to discuss further