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They are in decline though, through absolutely no fault of their own.

They need to be general practitioners to pay the bills, and that's incompatible with the ever growing pressure to specialise. Parliament is making and changing laws at breakneck speed, court and other forms are being reviewed every year so unless you do something day in day out it's easy to get left behind.

Then there's the need to never ever get ill and the costs of cover if you do.

Then there's all the SRA firm management requirements that take up so much time that it's difficult to spend sufficient time billing to pay the bills.

Then there's the areas of law. Forget conveyancing because SP's can't get on lender panels, PI and litigation forget it, family law no legal aid and the economy means that clients are struggling to afford divorce solicitors, wills and probate is fine if you can find someone who doesn't want to do it themselves these days and the competition from other firms is intense.

Then there's the astronomical insurance costs.........

How brilliant being an SP eh? I looked into it and decided to be a consultant at a bigger firm instead. I simply focus on fee earning and my own clients and leave the other headaches to others.

Apparently more and more people are opting for consultancy, so I think SP's are on the way out. The only way they can possibly survive is if premiums decrease and a bonfire of the SRA regulations.

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