In Dec 2007, I wrote "Another lawyer run road". That article was about lawyers who ran off with clients' money deposited with the law firm for property purchases. The solution is actually quite simple - use cashier's order or deposit the money with an escrow e.g bank. Big law firms that handle millions prefer not to do this because they earn hundreds of thousands in interest when the money is in their accounts. The cases of lawyers running off with clients' money affects smaller less well known law firms more negatively than bigger ones. So it took a long time for a few simple changes to take place, but they are finally here:
I tell you why I'm only half happy with this....... The other issue is why are lawyers allowed to monopolise and set minimum prices for conveyance services (read the Law Society guidelines for conveyance fees) when such services can be provided by licensed conveyancers (who compete) as in other countries. Our lawyers are intelligent highly trained individuals and a precious resource in our justice system - they should be freed up from mundane tasks to do more important things. This price setting is completely inconsistent with other professions having no minimum price for service provided and having to compete with foreign talents from anywhere in the world. Our software developers don't fix prices for applications they develop . Our cleaners have to compete much harder than our lawyers. Why does our society have to feed and protect people who drive BMWs while others have to compete so hard to make ends meet?