Convey Law granted prestigious Alternative Business Structure Licence
Convey Law has joined a select group of legal firms who have achieved prestigious Alternative Business Structure (ABS) certification from the accreditation body for the conveyancing industry, the Council for Licensed Conveyancers (CLC).
The ABS structure, which was a key innovation of the Legal Services Act 2007, opens up authorised law firms to non-legal personnel, allowing them to have an ownership interest in the company for the first time.
ABS benefits also include easier retention of outstanding non-legal staff, who now have more opportunity to progress, the ability to raise equity from a broader base of potential partners, members or directors and the ability to diversify the range of legal services provided.
To enable Convey Law to attain coveted ABS status, the CLC conducted a detailed 18-month review of Convey Law’s internal processes, procedures, legal costs estimates and documentation, and found them all to be fully compliant.
Managing Director Lloyd Davies commented: “We are delighted to achieve ABS status for Convey Law. I would like to thank the Council for Licensed Conveyancers for their time and guidance throughout this process.
“It was important for us that we used this process to ensure that we were providing the best possible service to our clients because of the processes and procedures that we have in place.
“Complete transparency was also a key success measure and we are pleased to be able to offer one of the most cost-effective and transparent legal services available in today’s conveyancing market, which is fully approved by our regulatory body.”
He added: “Thank you to everyone at Convey Law who played a part in this process. Thank you also to our consultants at Legal Eye who played a key role in assisting us with our ABS application.”