17. Profitable Practices: How to make money in Private Practice and developing the habits to keep it
Thursday 07 November 2019
05:45pm - 07:15pm
Stephen Vallance and Stephen Parker
Seminar Details:

It is hard to make profit in private practice particularly with all of the issues that solicitors require to deal with. Maximising and then holding on to profits is for many practitioners overlooked in the face of pressures of time and business. A little simple planning however can radically improve both the bottom line and how much of it you can hold onto.

This session will take a holistic approach to the fundamentals of good business and how to ensure that your firm is as profitable as it can be. Additionally, we will look at some simple financial strategies that will allow practitioners to consider how best to build the wealth that they will be looking for later in their careers.

A seminar that will prove vital both for those starting out on their career as well as those with at least one eye on their retirement.

Topics to be covered will include:

• What does a profitable firm look like and how do you compare?
• The first three things to look at to increase profitability
• How to minimise and mitigate tax by using your allowances
• Saving in the most efficient ways

Learning Outcomes

To develop an understanding of:

• Management skills
• Techniques for maximising Profitability
• Investment planning for small businesses
• Tax Planning


Stephen Vallance works within the HM Connect team and in particular is responsible for the operation in the West of Scotland. He is actively involved in developing existing relationship with member firms and fostering new connections with firms interested in learning more about the benefits that HM Connect can offer them.
HM Connect (formerly Connect2Law) is a referral and support network for high street and rural law firms which operates via Harper Macleod offering its full complement of legal services and expertise to such law firms on a fee-sharing, non-client poaching basis. HM Connect has over 275 member firms throughout Scotland.
Stephen has over 25 years experience in legal practice. A partner previously in several law firms, he successfully sold his own practice in 2008. Since then Stephen has taught on the Diploma in Legal Practice at Glasgow and Strathclyde Universities as well as having been a producer and presenter of PEAT 2 seminars. He is the author of several Journal articles, as well as a convener and speaker at Law Society seminars.
He has also been involved in several other projects including on line automation of legal processes, internet and social media marketing and a new business startup.

Stephen Parker is a Partner with Tilney. He has over 25 years experience. He is a Chartered Financial Planner.

He has vast experience working with both personal and corporate clients and is able to provide specialist advice for business owners, those in family business and senior executives.

Clients benefit from an on-going service and his areas of expertise include: lifestyle modelling, protection, retirement and pensions planning, taxation of investments, estate and tax planning. He practices a holistic approach to financial planning to ensure that clients and their families focus on what they really want from life, manage their wealth effectively and achieve their lifetime objectives. This is based on giving clients reassurance and the confidence to live their lives knowing that they have made the right financial decisions. His guiding principle is that wealth should be aligned and work to a cashflow based ‘Lifetime Plan’ that reflects individual circumstances, goals, aspirations and concerns. This plan forms a genuine contextual background against which informed decisions can be made in the areas of investment management, tax planning and risk management. Importantly, the plan is reviewed on a regular basis.

Stephen works closely with his colleagues delivering CPD to professional firms directly and at local Faculty level with HM Connect.

Out with Tilney, Stephen is a keen road cyclist with his two children trying to keep up.


Booking fee: members £50; non-members £80; trainee/paralegal from member firm £15; trainee/paralegal from non-member firm £25

Related File(s):
Booking Form:

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