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Research discussion

Webinar | Tuesday 31st October 2023 

Online

Risk, time-drain and global payments: Exploring best practices for law firms managing client funds

 
 
The recording of our recent webinar is now live for you to watch. 

In this session we explored our 'Time is Money' research report, which shed light on why 73% of legal professionals are concerned about the risks and time costs associated with handling client money 

Hosted by Shieldpay's Head of Legal, Ed Boal, and featuring Joshua Gillam, Professional Support Lawyer at Taylor Rose MW, this session dove into central themes from the research. Joshua and Ed reflected on their personal experiences working in transactional legal teams and discussed how law firms are managing deal payments and client money.

 
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Key topic areas we covered in this session: 

  • The new SRA fining powers: navigating the complexities of the SRA Account Rules  
  • Overcoming critical challenges: managing cross-border transactions with FX requirements 
  • The biggest time drains for legal teams: why due diligence comes out on top
  • Alternative methods for effective client money management: why and how 74% of lawyers aren’t using client accounts to manage their deal payments 
  • How law firms are mitigating risk and complexity: establishing rules and limitations for managing transactional payments 
  • Live Q&A for your questions and clarifications 

Meet the speakers

Host Ed Boal

Head of Legal at Shieldpay
Guest Speaker Joshua Gillam

Professional Support Lawyer at Taylor Rose MW

Download the report

Read our findings from a survey of over 100 legal professionals from top 100 UK law firms, uncovering key insights about their attitudes and behaviours around handling client money.
Read the report
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