New Law Firm & ABS Applications
The process of achieving authorisation for a law firm can be time-consuming and complex, but there is a structured approach to achieving this. With expert guidance from TSP, you can achieve authorisation in the quickest possible timeframe and adopt best practice along the way to strengthen your firm from the start.
Making an application to register a new firm requires focus and expertise, alongside well-drafted and presented documentation. Errors and omissions cause delays and with the new firm opening being time-critical, it can often help to take guidance and support from experts who have assisted multiple firms before to gain the authorisation.
TSP can support you by liaising with your proposed Insurers and the SRA (including the preparation of forms and supporting documents), saving you time and giving you the confidence that your application has been made correctly.
Regardless of the stage a firm is at, from embryonic discussions through to being challenged on an application, The Strategic Partner has the skills and ability to assist.
We will work with you to understand your proposed structure, enabling us to guide you on the SRA requirements that you will need to achieve to secure authorisation.
Find Out More
For more information about our New Law Firm & ABS Application service, you can call us on 0203 911 9710 or you can email us at info@thestrategicpartner.co.uk.
New Law Firm & ABS Applications – The Detail
By working with The Strategic Partner to launch your new law firm, you will ensure a quicker path to regulation and commencement of trading.
The process of making an application to the Solicitors Regulation Authority (SRA) needs expert guidance to ensure your firm enters the correct structure from the start and provides the necessary information to the SRA and Insurers to support the application process.
This will include working with Insurers to obtain a quotation for Professional Indemnity Insurance.
We assist individuals and firms with making an application for all structure types, including;-
- Sole Practitioners
- Partnerships
- Limited Liability Partnerships
- Limited Companies
- Alternative Business Structures (ABS)
Our New Law Firm Application Service guides firms and their owners on a number of key decisions that need to be made when applying to the SRA and seeking Professional Indemnity Insurance, to ensure the application process is as seamless as possible.
Our service is adaptable, so we will only do what you need us to. We can manage the entire process for you, or we can work with you to do the elements where you need our expertise.
The approach and steps will include:
- Agreeing on the most appropriate structure
- Registration of the LLP or Ltd Company
- Building a business plan and projections to support the application
- Application for Professional Indemnity Insurance
- Completion of the SRA forms for both the firm and individuals
- Provision of the necessary documentation to attach to the SRA and insurance applications
- Developing an overall business strategy
- Development and delivery of compliance and risk processes and documentation – see our compliance services.
- Establishing requirements and roles for compliance officers including:
- COLP
- COFA
- MLCO
- MLRO
- Training Principal
- Complaint Manager
- Final Application submission of documents to the Insurer and SRA as Agent
- Liaising with the SRA and PI Insurers from submission to final authorisation
The application process can provide complex and time-consuming and through working with The Strategic Partner, you can be assured of direct guidance and advice to streamline the process and deliver your new firm in the quickest possible time frame.
We also work with you on an ongoing basis providing you with robust solutions to manage risk and compliance or to provide you with other services and management.
Our compliance solutions have been specially designed to deliver risk and compliance solutions that are cost-effective. You can see full details by clicking the following links:
- Risk, Regulation and Compliance Service including AML
- Risk, Compliance & AML Guidance and Administration Service
Enquiries
For more information about our New Law Firm & ABS Application Service, you can call us on 0203 911 9710 or you can email us at info@thestrategicpartner.co.uk.