Retiring from the field of law is a big decision. Whilst lawyers may switch fields or specialisms during the longevity of their career, they very rarely switch industries. It’s one of the rare professionalisms that becomes part of your identity and leaving a role that is so engrained in your outlook on life, your personality, and your livelihood, is tough.
Even when it comes to retirement, many lawyers who are set to retire aren’t ready to do so. They may be a partner at a large law firm or the principal of their own practice, and often a retirement date is bestowed upon them, or they’ve decided to take a small step back.
Bamboo is the solution for retiring lawyers who aren’t yet ready to quit. Providing everything you need to successfully set up, run, and subsequently wind down a law firm, they are the preferred solution when it comes to retiring on your own terms, whilst continuing your legal work in a way that works for you.
Below, we outline why retirement lawyers who aren’t ready to quit are setting up their own firms, and how Bamboo Platform takes away the hassle of running your own practice:
- If you’re not ready to retire, you should consider starting your own law firm
Retiring from a partnership can provoke very mixed emotions. Whilst it’s an exciting prospect to have more time on your hands, many lawyers miss the day-to-day action, the client relationships, the thought-provoking cases, and the time in and out of court.
There are many reasons why retiring lawyers choose to continue their legal work and own their own practice. Primarily, it’s a chance for retiring law firm partners to do so on their own terms. This means they choose what legal work they do and where they want to do it, maintaining their preferred or most profitable client relationships, and working under their own brand and name.
- Don’t want the hassle of running your own firm? Bamboo is the answer
Bamboo’s platform is a regulated law firm operating system. In layman’s terms, it provides you with everything you need to run your own legal firm, whilst taking away the hassle of the admin, regulations, insurances, back-office systems, payroll, invoicing, audits and more.
You will work within Bamboo’s white label regulated structure. It’s perfect for retiring lawyers because it allows you to operate under your own name and brand and focus on the work that matters most to you. With their ‘Freedom in Retirement’ approach, you choose how and when to wind down your practice with their unlimited choice of exit strategies, maximising your income and capital returns.
- Why should retirement lawyers start their own firm with Bamboo Platform?
Bamboo provides a platform of support and services to aid you with your legal career, taking away the operational hassles in the process. By setting up your own law firm with their operating and support systems, you can benefit from:
- A law firm in a box solution
Bamboo not only assist you in creating your law firm in line with the necessary rules and regulations, but their dedicated support team of lawyers, business analysts and accountants are here to help you wind down your career, maintain it, or drive growth.
- Full back-office management, on your behalf
Bamboo manages the back office for you. With their robust IT platform, they arrange your authorisation and PI insurance and provide full legal cashiering and credit control, leaving you to focus on your legal advice and your clients.
- Operating to the highest standards, with consultancy and regulatory support
This is a sector-leading approach to maintaining standards. Bamboo act as small law firm consultants for boutique law firms. You, and your clients, will be working with a platform that has quality at heart, adhering to strict compliance rules.
- Complete flexibility
You are in control. It’s your life and career, and Bamboo is simply here to provide you with a regulated structure to work within and from.
- Save time, money, and hassle
Setting up your own law firm without an operating system such as Bamboo’s platform can be overwhelming. Many retiring lawyers do not want to get bogged down in the regulations, insurance, audits, or payroll that is often tedious and complex. Bamboo offers a cost-effective solution where you keep your client relationships, independence, and control.
Bamboo is a law firming operating system provided by one of the leading alternative business structures (ABS) for law firms in the UK. Their white label platform enables lawyers and non-lawyers to set up a law firm using an SRA-regulated structure on their own terms under their own brand. To learn more, visit their website: https://www.bamboo-platform.com/
Useful Resource: https://www.bamboo-platform.com/retiring-lawyers
About Bamboo Platform
Bamboo is a law firm operating system provided by using one of the leading alternative business structures (ABS) for law firms in the UK.
Contact Bamboo PlatformThird Floor, Library Building, Sun Street
Gloucestershire GL20 5NX
0333 344 2021