Freelance lawyer

[Stripytee]

Does anyone work as a legal freelancer/consultant and self insure? I am currently signed up with a consultancy but I am getting my own work and so I’m reluctant for them to take a cut. So I’m thinking of going it alone but I don’t really know where to start! All thoughts welcome thanks

Yes. What field?

Yes in Family Law. I get a flat percentage of 75% of all my fees. I have more than trebled my gross income by leaving a traditional high street firm.
I get most of my clients myself, but have the benefit of not having to do any regulatory stuff, professional indemnity insurance, or deal with banking or accounts, I have a network of other lawyers socially and professionally, some software provided, case management system and IT support. Also use of an office in a nice location if I want it. Nice work events to attend. I think the benefits hugely outweigh the cut of fees I give them.

Sorry just read back and realised my post is not what you were asking for!
but you might Find a consultancy with a better share?
also registering with the SRA takes quite some time
And you have to pay run-off insurance for up to five years after you retire!

Thanks so much, it’s actually exactly what I’m looking for. The consultancy I’ve signed up with takes 25% of what I bring in so I guess what I’m asking is whether it’s worth my while and I think what I’m hearing is that it is! Thank you

That’s okay! I think only worth setting up in your own if you want to build towards setting up your own firm, employing people , which I know personally wouldn’t suit me.
I do have my own website for getting work though, which works really well.

I’ve been considering the same myself having done it via a platform. If you ever did an extra pair of lawyer hands, feel free to message me (5PQE).

I was thinking about this but I’m in Scotland and think the regulatory burden would be a nightmare due to the law society of Scotland’s requirements

The consultancy role at a firm that I was offered was 75% of fees billed as well and I think actually that's a pretty good deal because there's lots of things you don't have to worry about.

Very small High Street firms of solicitors have such high overheads I think going it alone would be almost impossible nowadays