Why our law firm has taken a £3.75 million investment after 10 successful years

CEO Guy Setford tells you all you need to know about the investment in Setfords and what it means for the firm’s clients and the firm’s lawyers

You have spent 10 years growing a very successful national firm, why have you decided to take investment now?

Setfords has grown even faster than we expected and interest from lawyers wishing to join us as consultants is at its highest ever level. We believe in order to meet demand and grow even faster we benefit from taking on investment. Our lawyers are used to getting the best support in the industry and we want to not only continue that level of support for an even greater number of lawyers, but improve it further by investing even more in technology and staffing.

So what will the money be spent on?

We will be investing the money in three major areas:  infrastructure, marketing and recruitment. By focusing on infrastructure we can continue to improve our ways of working, continue to use technology to our advantage and ensure our lawyers are freed up to focus on their clients. We already have a very strong marketing and business development team but this will be enhanced further. It is part of our ongoing commitment to offering Setfords’ services to as many people as possible, and demonstrating to our lawyers our ongoing commitment to generating additional business for them and enhancing and promoting their profiles. Finally, we will be focusing on reaching even more lawyers wishing to join Setfords because we truly believe this is a better way of working and enhances the lives of all those who choose to embrace it.

Tell us more about your interest in investing in technology

When it comes to technology we always ask ourselves two questions: will it improve the support we offer our lawyers and will it result in a better service for our clients at a competitive price? It is a continuous process, we are always evolving and looking at how we are delivering our service and where we can make constant improvements. Technology moves quickly and it allows us to make changes whenever they are required.

Has taking investment meant your lawyers have had to change how they work? E.g. Will they now have billing targets?

No. The fact that we don’t have billing targets is one of the main reasons lawyers like working with Setfords. Being a consultant should be about freedom and being in control of your time and how you work and we are very proud of the way of working that we have developed. Our focus is on providing the best support to lawyers so they are free to offer the best support to their clients and enjoy a happier working life. It’s as simple as that. The BGF has invested in us because it embraces our approach and way of working.

What is the longer term plan? Will you take further investment?

We haven’t ruled out further investment but right now our focus is on using this opportunity to further cement our position as the market-leading full-service law firm offering a remote way of working to lawyers nationwide. What has driven this decision has been about enhancing and improving the service we provide to our lawyers which in turn improves the service they provide to their clients. Time and again we have shown that if you enhance the way of working for lawyers it enhances the service for those paying for legal advice. From day one we were focused on the fullest and best support for our lawyers. That was our focus and that focus hasn’t changed. 

What sort of lawyers are you looking to attract?

We are a full-service firm with national coverage and we are interested in speaking to experienced lawyers from all disciplines that are interested in this way of working.