A specialised, innovative community
29 January 2016
The analysis of the CLC’s Annual Regulatory return for 2015 is now published. Two major findings underline the degree to which the CLC regulates an innovative sector of the legal profession and the extremely high degree of specialisation of CLC-regulated firms.
- Overall, 94% of clients are individuals and only 6% are businesses, charities or government bodies.
- 80% of all managers engage exclusively in conveyancing
- 6% of all managers engage exclusively in probate work
- The balance - 13% - engage in a mix of conveyancing and probate
So the overwhelming focus of CLC-regulated firms is on residential conveyancing. We expect there to be a growth in managers and firms engaged exclusively in probate work as more stand-alone probate licenses are issued and the business disciplines and consumer focus that have changed the conveyancing market begin to have more impact on probate work.
Alongside this high degree of specialisation we see a high degree of innovation when we look at firm structures. CLC-regulated legal businesses are led by a mix of legal professionals and adoption of alternative business structures is widespread.
Specialisation and innovation will continue to guide the work of the CLC.