A SCOTTISH legal firm is experiencing a dramatic acceleration in fee income, with revenues rising 47% this year and projected to more than double by 2025.
Glasgow-headquartered Complete Clarity Solicitors and Simplicity Legal posted annual turnover of £1.5m in the year to May 2023, up from £1.1m the previous year.
With profitability levels substantially higher than budgeted, the firm has now redistributed that profitability within the firm itself, delivering substantial salary increases to all staff.
The firm has also boosted its headcount to 25, including 12 qualified solicitors and 3 trainee solicitors, and a four-strong client services team.
This is in addition to the introduction of a £50,000 bonus pot which will ensure up to a £2,300 payday addition for each staff member who worked for the firm to exceed the targets set in the financial year with the incentive that more is yet to come.
Billy Smith, Director of Complete Clarity and Simplicity Legal, said: “The firm has been performing well in excess of expectation, driven by the culture which we have consciously developed in recent years and also by structural changes to our commercial activities.
“It all flows from a policy of creating the best possible legal environment for our staff which generates a stream of ancillary benefits, not least of which are providing excellent service for clients while optimising fee income.
Staff are divided into Clans, or teams, tasked with contributing to the commercial viability of the firm.
Three Clans are made up of lawyers and the fourth is the client services team, which responds to phone, email and contact request enquiries.
This last Clan, said Mr Smith, has a target response time of 15 minutes, and its efficiency has not only secured significant new business which might otherwise have drifted to competitors, but has also been crucial to recent performance success.
Mr Smith added: “It has always been our ambition to encourage our staff to be the best version of themselves, allowing us to design a legal service which is very simple, but very valuable to our clients – a fresh, but always professional method of solving legal problems.
“I am delighted that the firm has reached its target of £1.5m in fee income this year and, if it is not posting £2.5m by 2025, I will consider that to be a failure.”
