Family Law Group moves to employee ownership model
Family Law Group, which has an office in Chesterfield has announced that 2022 will see the transfer of ownership to the firm’s staff, by becoming an Employee Ownership Trust (EOT).
This is the first step in empowering the company’s lawyers to drive the business forward and to support the strategic growth plan to become the largest and best Family Law Firm in the country. The aim is to grow to 15 offices, creating up to 100 new jobs, and the launch of a national telephone advice line, in the next five years.
75% of the group, which currently has over 130 employees across 10 offices, will now be owned by the EOT, and all staff, regardless of seniority, will receive equal annual bonuses based upon the firm’s performance. Whilst the day to day running of the firm will remain with the existing management team, as an employee-owned business, any decisions taken are now done for the benefit of all staff.
This move is about empowering lawyers to take ownership of the firm in respect of its direction and commitment to Family Law Group’s core values and purpose. They will now have a greater input in to the day to day running of the firm, and the decisions that are made as it grows.
A statement on Family Law Group’s website said: “The company has already grown considerably over the last 4 years. It is imperative that we ensure our model is right to not only retain the lawyers who contribute to our success, but also to be able to attract the highest quality talent to our growing business.
“The move to an EOT is a way of ensuring the longevity of our firm. We really value our staff, and this was one way of demonstrating that. In the long term as we grow, we intend to become 100% employee owned.
“We don’t intend upon standing still and we differentiate ourselves from other firms by not just targeting high net worth individuals, but by also ensuring that the most disadvantaged in society have access to our expert legal advice. In addition to the move to becoming an EOT, we have invested heavily in our IT infrastructure this year and have refreshed our brand. We are confident that these changes, and our whole ethos, will ensure that we continue to grow within the family law world.”
Established in 2005, Family Law Group has over 130 employees across 10 offices in Nottingham, Chesterfield, Milton Keynes, Northampton, Wellingborough, Derby, Loughborough, Peterborough, Bedford and Cambridge.
Family Law Group provides expert legal advice across the full range of Family Law matters including Divorce & Separation, Child Arrangements & Social Services, Care Proceedings, Matrimonial Finance & Property, Mediation, Collaborative Law, Forced Marriage and Domestic Abuse Injunctions. Family Law Group is Investors in People and Lexcel accredited.
Derbyshire Family Law supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.