Nick Jarrett-Kerr explains why today’s lawyers need an advanced set of life & business skills
There was a time, several decades ago, when solicitors were widely regarded —in what was then a male-dominated profession—as “men of affairs”, able to advise clients holistically on a wide range of their life, business and personal issues of which legal issues formed only one element. However, the mushroom-like growth of other professionals such as accountants, financial advisers, property experts, and wealth advisers steadily eroded the lawyer’s position of influence all through the 20th century leaving solicitors in the UK as technical advisers at the tail end of transactions, and as the last port of call when all other efforts by other professionals to solve problems had failed. Regulatory protection in areas such as litigation and probate helped to preserve the standing and the market position of law firms and at the same time a growing tide of legislation gave lawyers a technical stronghold from which to operate profitably and with the fearless independence which is the hallmark of the profession.
The problem was, however, that the loss of the
