The Chief Executive of The Law Society, Desmond Hudson has issued a warning to firms to do all that they can to avoid ‘race to the bottom’ as they bid to find a way continue to survive and be profitable in what is a currently a tough market.
Mr Hudson was talking at last week’s Law Society Law Management Section conference as he urged practitioners who are operating in the industry not to let their standards in terms of quality slip in order to cut costs in what is a difficult time for the industry.
He told the Law Society Management Section conference: “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 added that the profession will benefit from a promise of robust standards and spoke of the potential for extending the Conveyancing Quality Scheme into other areas saying: “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.”
1. Mortgage Solutions; http://www.mortgagesolutions.co.uk/your-community/2010/08/12/market-watch-the-lloyds-conveyancer-cull-20100812/