An innovative legal practice today launched a barrister-led fixed-price divorce service to cut costs for wealthy couples.
Riverview Law, which combines law firm Riverview Solicitors and chambers Riverview Chambers, will offer the service, which it claims will guarantee the costs of divorce, for couples with assets worth more than £500,000.
The service is offered in four stages, with prices depending on whether a QC or junior barrister is instructed.
Prices start at £1,000 for an initial conference with a junior barrister to examine the merits of the case and develop a strategy. The first court appointment to decide how the case will proceed starts at £5,000, and the fee for financial dispute resolution hearing starts at £17,500. A bespoke fixed fee will then be quoted if the case goes to trial.
By appointing a barrister-led team to conduct the case from the outset, the firm says clients can reduce the duplication and cost of the traditional model.
Riverview says it provides access to a team of barristers with experience in high profile divorces, including Deborah Bangay QC, who has acted for Elena Golubovich in her divorce from a Russian financier and Katharine Davidson QC, who acted for City broker Richard Grey in successfully challenging maintenance payments because his ex-wife was co-habiting with another man.
Riverview Law launched in February this year, with financial backing from international firm DLA Piper, which is the joint largest shareholder in the company.
Riverview Law’s chief operating officer, Adam Shutkever, said that the practice had received a high number of calls from people seeking advice on divorce. ‘There is clearly a requirement for this service and it fits with our core business-based offering. Unfortunately, the pressures on many business clients put strain on their marriages,’ he said.
But Shutkever said: 'People are often afraid of the costs of going through divorce. We will offer a clear, transparent fixed-fee service.'
The firm plans to extend its fixed fee offering into other areas of practice in due course.