Blog.

Why Law Firms Should Take Action in Response to Banks Lowering Interest Rates on Client Money

2 min

Why Law Firms Should Take Action in Response to Banks Lowering Interest Rates on Client Money

In the current economic climate, many law firms are facing a growing challenge: banks are reducing interest rates on client accounts,...

Paul McCluskey

4 min

Is Borrowing Cheaper Than Paying Cash?

Borrowing versus paying by cash. Weight up your finance options

Maximising Your Finances: The Power of Compound Interest, APR, and Flat Rate Loans Explained

Gemstone Legal

4 min

Maximising Your Finances: The Power of Compound Interest, APR, and Flat Rate Loans Explained

When it comes to borrowing and saving decisions, it's crucial to make sure that you understand the various financial tools at your...

Key Benefits & Uses of Commercial Finance for Law Firms

Gemstone Legal

4 min

Key Benefits & Uses of Commercial Finance for Law Firms

The legal market today is arguably more competitive, and more volatile, than ever before. Of course, the actual legal services that a law...

Gemstone Legal

4 min

4 tools from Gemstone Legal to optimise your law firm’s financial position

In today's rapidly changing legal landscape, it is more important than ever for law firms to actively monitor their financial stability...

Our view on the latest SRA update, "Interest rates and the client account", What's yours?

Gemstone Legal

5 min

Our view on the latest SRA update, "Interest rates and the client account", What's yours?

The Solicitors Regulation Authority (SRA)'s recent article, Interest rates and the client account, discusses interest rates and the...

Maximising returns on client money before the interest rate falls. Is your law firm leaving money on the table?

Gemstone Legal

4 min

Maximising returns on client money before the interest rate falls. Is your law firm leaving money on the table?

Even at the best of times, it is hard to accurately predict economic conditions in the future. There is always the possibility of...

Ensuring Financial Stability and Viability: A Critical Imperative for Law Firms

Gemstone Legal

5 min

Ensuring Financial Stability and Viability: A Critical Imperative for Law Firms

In the ever-changing landscape of the legal profession, one thing remains constant: Too many law firms undervalue the role a proactive...

Guiding Law Firms Through Funding for Professional Indemnity Insurance Renewals

Gemstone Legal

4 min

Guiding Law Firms Through Funding for Professional Indemnity Insurance Renewals

Professional Indemnity Insurance (PII) provides financial protection against claims made by clients or third parties for losses incurred...

Why Securing Funding for PI Insurance Premiums Early is a Game-Changer

Paul McCluskey

3 min

Why Securing Funding for PI Insurance Premiums Early is a Game-Changer

The legal sector often grapples with many uncertainties, but one of the most basic recurring considerations a law firm must face is the...

Your Client Interest Policy - Is it fair?

Paul McCluskey

8 min

Your Client Interest Policy - Is it fair?

The Monetary Policy Committee (MPC) met recently and voted to increase the Bank of England bank rate for the 12th consecutive time. With...

Are you ready to earn more interest on your client monies?

Paul McCluskey

2 min

Are you ready to earn more interest on your client monies?

Overcoming the challenges associated with economic instability looks set to trouble individuals and businesses alike in 2023. Increased...

Understanding the revised Recovery Loan Scheme (RLS)

Paul McCluskey

3 min

Understanding the revised Recovery Loan Scheme (RLS)

As the UK economy continues to face uncertainty from the COVID pandemic many UK legal practices may find continued pressures on cashflow...

Method in the madness of law firm finance

Paul McCluskey

4 min

Method in the madness of law firm finance

Albert Einstein, the famous theoretical physicist, is attributed to saying, “the definition of insanity is " doing the same thing over...

Understanding the Recovery Loan Scheme (RLS)

Paul McCluskey

3 min

Understanding the Recovery Loan Scheme (RLS)

Businesses which have previously received support under the existing schemes will still be eligiblss facilities under this new scheme...

FINANCIAL BENCHMARKING SCORECARD - What Good Financial Performance Really Looks Like

Paul McCluskey

2 min

FINANCIAL BENCHMARKING SCORECARD - What Good Financial Performance Really Looks Like

Sound financial management must be the beating heart of any legal practice. Law firm leaders should complete a regular benchmarking...

Financial Health To Kickstart A New Year

Paul McCluskey

4 min

Financial Health To Kickstart A New Year

For many people, the practice of making New Year resolutions is something that is attempted and failed within a few weeks of a new year. ...

Paul McCluskey

3 min

Three Wise Kings of Law Firm Finance

As we look to welcome in a new year, the UK economy waits with anticipation over the prospect of an effective COVID-19 vaccination and...

Paul McCluskey

4 min

Law firm banking - a decade of change

Heraclitus, the Greek philosopher and pioneer of wisdom, is quoted as saying "change is the only constant in life”. Never has this been more

Paul McCluskey

3 min

8 Ways to Meet Your Lexcel Commitments

Law firms face an unprecedented challenge brought about by the COVID-19 crisis. With a prolonged period of ‘lock-down’ and social...

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