Southport-based Fletchers Solicitors is gearing up for the implementation of the Legal Services Bill by finalising plans to becomea limited company.
The legal firm, which specialises in road traffic accident claims, is abandoning its partnership structure.
It hopes it will be a more attractive acquisition target for insurers who want to set up their own legal operation after the Bill comes into force.
Partner Ed Fletcher said: “Essentially it brings our structure into line with those organisations with whom we have the most significant commercial relationships.”
The Legal Service Bill, which is expected to receive Royal Assent this summer and will take a further 18 months to implement, will enable non-solicitors to own legal practices.
Insurance companies, such as the Co-op, AXA and DAS, are exploring oportunities to take advantage of the Legal Services Bill.