Charles was contacted by the Managing Partner of a medium sized law firm who had heard him speak at a conference on the issues facing law firms and steps that could be taken to resolve problems and transform performance.

He informed Charles that he was concerned about underperformance in various departments and the inability of partners to manage the problem. It was clear there were other problems that the law firm faced including issues with HMRC, their Bank and the SRA. Charles reviewed and reported to the Board his findings and proposals.

Starting with one-to-one meetings with Heads of Departments (HoDs) and Board members threw up a multitude of different views on running the practice and addressing existing issues around increasing profitability and fixing underlying people issues. Concerns were raised about internal reporting, management structures and the ability of existing HoDs. The finance director had been tasked with negotiating with HMRC regarding a time to pay arrangement. Additionally, he explained that he was struggling to convince their Bank that they could operate within their current facility, impacting on trading generally and future development plans. The Managing Partner also alluded to an ongoing SRA investigation and the action that they could take if matters weren’t dealt with to their satisfaction.

As a result of his wealth of experience as the managing partner and CEO of multiple law firms as well as acting for the SRA, Banks and a variety of law firms, Charles had encountered all of the issues that this firm was facing. He provided solutions and managed a successful outcome. This involved the following :-

• Supporting the firm in how it was run and creating separate strategic and operational boards with clear remits
• Supporting existing HODs in their management of departments. Creating a culture of financial hygiene with “no excuses “
• Supporting the managing partner and HR director in some strategic changes in roles of some HODs and partners
• Supporting the Finance director in his negotiations with HMRC, including some external support to achieve breathing space and alleviate cashflow issues
• Supporting the Finance director in his discussions with the bank, agreeing a new facility , alleviating cashflow issues and getting support for future investment
• Supporting the Head of Risk in her discussions with the SRA and reaching agreement to avoid sanctions involving changes and improvements in Risk process.

The outcome of Charles detailed understanding and execution was a transformed and re-energised firm with a clear strategic plan as well as fulfilling multiple roles.