The Gazette 1992

GAZETTE

JANUARY/FEBRUARY 1992

Earnings on Solicitors Financial Services Reach £1 Million

The company, Solicitors Financial Services (SFS), formed by the Law Society in 1989 has now finished its second year of operations. As stated in the Annual Report (copies available on request) 276 firms joined the service for the year ending 30 September, 1991. Total earnings to 30 September have almost reached £1 million! No mean achievement in a trying and difficult economic climate. If the current rate of renewal of membership is maintained this figure will be surpassed for the coming year. It is worth noting that in these days of rising costs, SFS has kept its membership fees at the levels to which they were reduced last year (see table). Joining the scheme is simple. You send a cheque payable to the Incorporated Law Society for the relevant amount and you then become registered. Sedgw i ck Dineen takes over from there and a consultant will visit your firm and introduce the service to you. You will obtain a wall plaque, display stand, brochures and a user manual. During 1991, Part IV of the Insurance Act came into effect. The principal aim of this legislation is to regulate insurance inter- mediaries and thus protect the interest of the client. The necessity for this legislation has been highlighted by a number of well publicised cases during the last year. As a member of SFS you will automatically comply wi th the requirements of the Act through the company's association with Sedgwick Dineen. In order for the scheme to achieve optimum results individual soli- citors in each firm must generate 20

VAT

NO. OF SOLICITORS SUBSCRIPTION

TOTAL

IN PRACTICE

RATE £ 100.00 200 . 00 250 . 00 350 . 00

£

£

Sole Practice

21 . 00 42 . 00 52 . 50 73 . 50

121.00 242 . 00 302 . 50 423 . 50

2 - 5

6 - 1 0

11 and over

ber that Sedgwick Dineen is completely independent of any bank, f i nanc i al i ns t i t u t i on or insurance company and can give advice on the most suitable products available to the client. There are many other examples such as providing advice to clients on inheritance tax planning or implications which the budget has on Section 60 Policies and Section 119 Policies. Members of the profession are urged to seriously consider mem- bership of the service, as it has proved to be a substantial source of additional income for its members. It is a system which is very simple to operate and enables a solicitor to provide an expert service in an area of client business where the solicitor does not have to be expert himself. •

enquiries and Sedgwick Dineen will be glad to advise where and how these enquiries may be generated. There are a large number of solicitors' clients who will have sur- plus funds, whether large or small, who will be only too delighted to learn that their solicitor, through the SFS, can provide expert advice on investment. Solicitor members need to inform clients, if necessary in a circular, that the service is available. Even a small amount of marketing will yield surprising results. It may surprise solicitors to k now t hat t wo w i nne rs of substantial amounts in the National Lottery have been advised by SFS. Clients receive a very compre- hensive investment report and Sedgwick Dineen will meet him/her and their solicitors to discuss the various options available. Remem-

ENQUIRY FORM

NAME: FIRM: ADDRESS:

TEL. NO: DETAILS ON JOINING THE SERVICE

\ _

ANNUAL REPORT

[ __

Please return to:

Solicitors

Division

Sedgwick

Dineen Personal Financial Management

Ltd.

18/19 Harcourt

Street, Dublin 2. Tel:

01-781599.