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Mergers: what law firms can learn from accountants

The degree of consolidation across law firms is gathering pace as competition from the accountancy sector intensifies following the introduction of alternative business structure (ABS) status, but there are opportunities for lawyers and accountants to work together, says Tina Williams, chair and head of professional practices, Fox Williams LLP

In response to a recent survey into consolidation in the legal market, The dating game – law firms: the benefits and perils of walking down the aisle in the legal market, an astounding 95%, of more than 100 of The Lawyer’s top 200 UK law firms that responded, forecast further mergers between firms in the top tier over the next two years.

At the same time, some 45% of respondents who have not merged said they would consider doing so in the next two years. The research was commissioned by Fox Williams LLP and Byfield Consultancy.

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