As Edward Nally prepares to step down as president of the Law Society, he looks back at a year of critical change for the profession


End-of-term reports always make interesting reading but I have never had to craft one for myself before. I complete my term of office as President of the Law Society this week. It has certainly been a momentous and enjoyable year from a personal perspective. But, more importantly, it appears to me that the profession itself reached a significant milestone with great opportunities ahead of it.


The review of the regulation of legal services undertaken by Sir David Clementi gives the profession, and the Law Society, an opportunity to refocus in a way which rarely comes along more than once or twice in any generation. In my view, the impetus that the Clementi review provides gives us all an opportunity to look forward to a new and exciting vision for the future.


I do not just mean the future of the Law Society, important though that may be. It is the shape and dynamic of the solicitors’ profession that, in the long run, is paramount.


So what do I believe is in store for us? Firstly, I think the proposition that the traditional model of practice is dead is grossly overstated. What is being challenged, correctly in my view, is the way in which that traditional practice delivers its services to a modern society. It is the needs of the consumers of services that lie at the heart of any organisation, and the law and lawyers are not immune from that fact. Practices that embrace change with a proper entrepreneurial spirit will flourish. Sadly, those that ignore change, or believe that it does not apply to them, may well find a bleaker future ahead.


Legal disciplinary practices will provide new opportunities for firms to innovate. Our task, however, will be to ensure that the regulatory framework underpinning them is robust and that the important core values are preserved: independent advice, avoiding conflicts of interest, confidentiality, and putting the client’s interest first.


I have great faith in the solicitors’ profession. During my year as president, I have seen at first-hand hundreds of practices the length and breadth of England and Wales, operating different models, which give excellent service in very different ways to different types of clients. That is the beauty and strength of the solicitors’ profession. By and large, it continues to flourish and to bring significant benefits to society and to the economy of England and Wales.


And what of the Law Society? It is undoubtedly at a crossroads, facing its most significant changes in decades. I have no doubt whatsoever that the professional body that is the Law Society will respond to that challenge. Over the next nine months or so, we will be undertaking market research and consulting members about the kind of representation services they want from the Law Society in the future. But I would urge all solicitors to recognise that the Law Society is your professional body. This is your chance to shape it and so I hope that you will engage with us and give us your views.


The regulatory framework will change significantly for the profession in the next two to three years. However, an important principle of retaining professional involvement in regulation has been preserved. I think the steps the Law Society has taken in separating the governance of regulation and representation have provided an essential cornerstone in preserving that involvement.


The Law Society’s new consumer complaints board and the new regulation board, both with substantial lay membership, will commence work in shadow form in the autumn. From 2006, the representation arm of the Law Society will no longer be involved in decision-making about regulatory policy. However, in my view, it will have an important role to play as a consultee and in making the case for effective and proportionate regulation. Alongside the public interest, of course, it is in the profession’s own interest to maintain high standards and to be regulated. This has been a key factor in the profession’s success to date and will remain critical.


Self-indulgent reminiscences are rarely a good idea, but perhaps I will allow myself that pleasure on this one occasion.


It has been a singular privilege to be the President of the Law Society for the past year. I have tried to promote the cause of the profession in the various arenas in which I have found myself, whether that be in dialogue with government or other stakeholders, or on the international circuit, or across the local and regional network of the profession here. I have been overwhelmed at times by the level of support that I have enjoyed and humbled by the skill, expertise and intellect of many whom I have met and who, in their very different ways, bring great credit to our profession.


So, as I step out of the limelight, I will reflect on the last year with a mixture of satisfaction and confidence. I wish my successor to the presidency, Kevin Martin, well. I know he will do an excellent job.


Edward Nally is President of the Law Society