Law Society chief executive Desmond Hudson has warned firms to avoid a ‘race to the bottom’ as they seek to survive and prosper in a tough market.
Speaking at the Society’s Law Management Section annual conference, Hudson urged practitioners not to be tempted to compromise on quality in a bid to cut costs.
‘I don’t think there is any salvation in going down-market, nor do I think a price-led strategy is a sustainable solution for our members,’ he said.
The chief executive added that the profession will benefit from a promise of ‘robust standards’. He spoke of the potential for extending the Conveyancing Quality Scheme into other areas, such as will-writing, probate and estate administration services.
A Wills Quality Scheme is presently in development at Chancery Lane.
‘Being different, standing out, guaranteeing high standards of service and quality across the board and projecting those standards to a confused market is what it is all about,’ Hudson added.
Hudson also called for a cut in the ‘regulatory burden’ faced by law firms, stating the ‘jury remains out’ on whether the strategy of predicting risk is working.
‘We are concerned that there is as yet no evidence that OFR has begun to deliver the benefits it promised and the burden upon the profession in these difficult times must be reduced.’
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