Financial Benchmarking Survey – 2019 Report

Welcome to the report for the financial benchmarking survey 2019. The report shows a wide range of useful metrics on income, expenditure and profit, and allows solicitors to analyse trends for their firm, their competitors and across the wider sector year on year.
Click here for the President's foreword

"Clydesdale Bank is delighted to once again be associated with the Society's Financial Benchmarking Survey. The insights gained by our Professional Services Team from the Scottish legal profession are reflected in the results of this year’s survey. With income per partner lower than the previous year across all regions, this suggests costs continue to be well controlled, as median Profit per Partner remained in line with previous year. However the day-to-day challenges of generating new and profitable fee income, managing working capital and succession planning remain priorities.

The Financial Benchmarking Survey findings will help firms gain a greater understanding of the legal market and assess where they sit in comparison to their peers. The data in the overall report is useful in helping solicitors develop their strategic thinking and future planning, allowing them to assess what is working well and what may need to change within their business to boost performance.

Our team of trained specialists have a proven track record of helping to deliver strong and sustainable financial performance coupled with a deep knowledge of the dynamics driving this industry. We work closely with solicitors to create bespoke funding solutions and add value through our relationship-based approach."

Sue Carter MBA. UK Head of Professional Services Sector, Clydesdale Bank.

sue.carter@cybg.com

If you took part in the 2019 survey please log in to access interactive features and see how your firm compares to the benchmarks.

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See your firm's result for various measures against the benchmark

Profit Margin

Your Result

36.2%

compared with Sole Principal median: 35.8%