We caught up with nexa law’s Managing Director, Eliot, to find out all about his experiences and thoughts on becoming a consultant lawyer. He speaks about training, decisions surrounding his career and why he thinks becoming a consultant lawyer is a great decision to make.
What is your background within the industry?
I did a degree in English Literature and International Politics and then followed that up with a CPE course which was essentially the key elements of a law degree compacted into a year. After some time working for a local PLC company I started as a paralegal doing conveyancing at a well known West Midlands firm. It came clear to me that I was more interested in commercial work and the firm allowed me to do a 3 year purely commercial training contract whilst I did the LPC training at Chester College of Law on a part-time basis at the weekend. Upon qualification, I moved to a leading commercial firm in Chester dealing primarily with Commercial Property. After 4 or 5 years, I moved my focus to corporate and commercial work and my last job prior to Nexa was as the head of Corporate Commercial at the firm I trained at.
When did you first become interested in being a lawyer?
I think the skills I developed doing my degree lent themselves towards the law. However, it was only after finishing my CPE course that I decided I wanted to be a lawyer.
What’s your favourite aspect of being a lawyer?
The best part is when a matter is completed and you have achieved what the client wants to their satisfaction. I enjoy the long-standing relationships you can build up with clients and referrers and it is nice to be a trusted part of their team.
Why did you choose to set up nexa law?
I started working with John Roberts who is the Strategic Director in a lawyer/client capacity back in 2006 shortly before the introduction of the Legal Services Act 2007 which allowed non-lawyers to own and invest in law firms. Our working relationship continued through to 2014 when we first discussed the idea of setting up a new law firm which would allow lawyers to operate more flexibly and greater reward through a consultancy model which was becoming increasingly popular within the sector. My experience in Corporate and Commercial Law coupled with John’s experience of providing professional consultants with the platform from which to operate in other sectors resulted in a business plan being established. With investment secured from trusted individuals in 2016, the business became a reality. Nexa was incorporated and SRA approval gained.
What are nexa law’s main values?
From the outset, Nexa was intended to be a step away from the conventional ‘new model’ law firms operating in the market by ensuring that fixed overheads would be minimised in order to pass as much of the earnings back to the consultant lawyer. With a focus on providing the highest quality of service to both the consultant and their clients, Nexa aims to be the partner of choice for those lawyers wishing to make the move towards a more flexible and lucrative future.
What makes Nexa different to its competitors?
We have some very important key differentiators to the competition:-
– We offer class leading commission rates to the consultant lawyer.
– We have no start up costs.
– We don’t ask the consultant to indemnify us against the excess payable in the event of there being a claim on the indemnity insurance policy.
– We can offer a bespoke tailored financial package to assist consultants in bridging the period between becoming a consultant lawyer and getting their matters up and running.
– We offer the most complete package for the commission and the best referral rate.
We like to think we will also offer one-on-one support as well and any of the consultant lawyers can turn to our experienced board of investors for business advice.
Why would you recommend becoming a consultant lawyer?
The key thing for me is flexibility and freedom. If you have a loyal client following or the ability and entrepreneurial spirit to generate work then your lifestyle will be far improved working as a consultant. When I worked as an employee the worst thing for me was the obligation to be there 9 – 5 whether you needed to be there or not and the lack of flexibility offered by traditional practices. As a consultant lawyer, you can work when you choose and this brings a host of benefits. There is also the opportunity to receive a lot more money for the work you generate and refer.
If you are interested in becoming a consultant lawyer or want more information, contact Eliot at Nexa on 01691 655060.