x
RECEIVE BUSINESS TIMES FREE TO YOUR DOOR EACH MONTH, COURTESY OF ROYAL MAIL.
* indicates required

Excellence award

ON 22 October, 400 professionals from the legal profession gathered at The Brewery in London for the prestigious Lawyer Management Awards 2014.

The national awards, run by The Lawyer Magazine, celebrate excellence in the legal market for operational and strategic management. The packed awards ceremony, which was hosted by top comedian Ed Byrne, covered a full range of managerial and strategic activities of legal practices.

The nominees in each of the categories of award made impressive reading. The majority of those shortlisted were from national and international legal practices.

ON 22 October, 400 professionals from the legal profession gathered at The Brewery in London for the prestigious Lawyer Management Awards 2014.

The national awards, run by The Lawyer Magazine, celebrate excellence in the legal market for operational and strategic management. The packed awards ceremony, which was hosted by top comedian Ed Byrne, covered a full range of managerial and strategic activities of legal practices.

The nominees in each of the categories of award made impressive reading. The majority of those shortlisted were from national and international legal practices. Bucking that trend was Tollers Solicitors, a leading practice from our region. The firm was nominated in the category of Excellence and/or Innovation in Law Firm Financial Management. The judges of the awards, made up of leading professionals in the legal market, recognised Tollers’ impressive performance in this category by awarding the firm first prize.

The award was recognition of the financial performance of Tollers which has dramatically improved following the implementation of a new financial model by Managing Partner Duncan Nicholson and the firm’s board. As a consequence, the firm’s burden of debt has reduced dramatically while at the same time the profitability of the practice increased significantly.

Duncan, a turnaround specialist by profession, oversaw an increase in the firm’s profit to £1.62 million in the year to April 2013.

The accounts for the latest financial year, to April 2014, will show a further increase to around £1.8 million on a turnover of £9 million. This impressive performance was also recognised at the awards when Duncan Nicholson was an announced as a finalist in the category Law Firm Management Individual of the Year.

Improved profitability and an increase in working capital has given rise to sustained investment by Tollers as the firm puts into practice its strategy, which has been designed to reshape its business model in the ever-changing legal landscape. The firm has invested significantly in both commercial and private client disciplines with some key appointments and additions of new teams.

Added to that, the firm has opened a new office in Stevenage, implemented a new case management and financial software package while at the same time embarking on a re-branding exercise which shall also give rise to new websites for both the solicitors practice as well as its leading personal injury division. These are due to be launched by the end of the year.

Duncan Nicholson said: “We are delighted to have been recognised at national level with this highly prestigious award. We really feel it demonstrates the strength of the practice and our direction of travel. There is growing confidence in our region and the strength of Tollers’ legal practice means that we are able to be at the forefront in providing the very best legal advice to businesses and individuals in our community

“Our strategy has been to create a more balanced business which is fit for purpose in the current legal environment and we are succeeding. It is so important to have the right people, knowledge and infrastructure to enable us to respond to the requirement of our many and varied clients.”

Find out more about Tollers by calling 01604 258558 or visit the website at www.tollers.co.uk

Companies mentioned in this article

Tollers

More business articles: