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Case study: How Rowleys helped a solicitors prepare for long-term success
8th June 2025
Client: Confidential – Midlands-based solicitor firm
Sector: Legal/Professional Services
Services provided: Restructuring advice, tax planning, and partnership support
The challenge
A long-established solicitor firm approached Rowleys seeking advice on how to future-proof their business. The partners recognised the need for a more flexible structure that would:
- Support a smoother succession plan as senior partners looked to retire
- Enable the admission of new partners in a more accessible and equitable way
- Maintain limited liability protection
- Provide greater flexibility in how profits and capital were shared
- Allow for more tailored personal tax planning
Their existing structure was no longer fit for purpose as it limited both growth and strategic decision-making.
Our solution
Rowleys worked closely with the partners to fully understand their ambitions, governance structure, and commercial challenges. We proposed a bespoke restructuring that involved:
- Creating tailored profit and capital sharing arrangements – designed to make the firm more accessible to new partners while ensuring fairness for long-standing partners. This helped support retention and incentivised future leadership.
- Succession-focused structuring – we introduced mechanisms to allow for phased retirement and smooth onboarding of new partners, giving the business stability and a long-term growth pathway.
- Individual tax planning support – we worked with each partner to ensure the new structure enhanced their ability to manage their personal tax affairs more effectively, taking advantage of allowances and timing strategies.
In addition to the restructuring work, we carried out a comprehensive SRA audit to help strengthen compliance and internal controls. This enabled us to:
- Make key recommendations to the COFA, including implementing a system for regular review and follow-up of inactive client balances
- Highlight areas for improvement in client account management, helping to reduce the risk of errors and mismanagement
- Provide independent assurance of the firm’s financial integrity, reinforcing trust in internal systems and external reporting
The outcome
The restructuring provided the firm with:
- A flexible platform for future growth and succession
- A clear, fair and motivating profit-sharing model
- Ongoing protection through limited liability
- Improved tax planning opportunities for each partner
- Greater confidence in their SRA compliance, supported by robust client account controls and proactive financial management
The partners now have confidence in their long-term strategy, knowing they have a structure in place that supports both individual ambitions and collective success, while maintaining the highest standards of regulatory compliance.
Want to future-proof your firm? Get a touch for a confidential discussion with our specialist team.