Buying in work is a thriving market, says Dominic Regan
How do I, a solicitor, guarantee that I have remunerative work to perform? Buy it in.
There is now a thriving, mature market. Vendors are those who, for a variety of reasons, want out. They may be retiring or consider that a part of their practice is no longer a good fit, Perhaps they do not have the steady volume of work to justify continuing to service it. The Jackson reforms have certainly caused some to give up the ghost.
On the other side of the divide are those who are prepared to buy live work in. Of course one can advertise and market but there is no guarantee of gaining a solitary client.
Herein lies the charm of file acquisition. Subject of course to scrutiny of the files, one can acquire files which can generate income.
No area of work is immune. While personal injury and clinical negligence work lead the way, particularly because of the referral fee ban imposed in that arena, today all aspects of practice are amenable to deals. I know of one
