Strengthening partnerships between accountants and legal experts

Accountants and lawyers often serve as pillars of support for their clients, helping them navigate complex financial and legal landscapes.  At Partners Legal Solutions, we value the strong relationships we share with our accountant referrers, who entrust us with clients requiring legal expertise.  This article offers insights into how we foster successful client relationships, manage expectations, and ensure seamless collaboration for all parties involved.

Enhancing client understanding of legal processes

For many clients, engaging a lawyer can be an unfamiliar and intimidating experience. Misunderstandings often arise from a lack of clarity about roles, responsibilities, and processes, which can lead to dissatisfaction or even claims against legal practitioners.

Partners Legal Solutions prioritises client education, starting from the very first interaction.  By explaining what clients can expect from us—and what we expect from them—we aim to build confidence and trust.

Key commitments to clients:

• Transparent communication: We provide written agreements detailing services, fees, and likely outcomes.  Updates are shared regularly via the client’s preferred communication channel.  
• Shared communications: Our engagement letters specifically authorise us to share information with our affiliated colleagues so, unless we are specifically instructed not to do so, we will share important communications with the referring colleagues.
• Prompt responses: Calls and emails are acknowledged within 24 hours during business hours.
• Empowered decision-making: Clients are informed of risks, alternative strategies, and success probabilities, enabling informed decisions.

By establishing these foundations early, clients are better equipped to work effectively with us, reducing potential friction and promoting successful outcomes.

Managing costs: Building confidence through transparency

Legal fees can be a significant concern for clients.  Miscommunication or misunderstanding around costs can strain relationships and disrupt trust.  To address this, we emphasise transparency through detailed cost estimates and stage-based budgeting in our engagement letter.

What clients should know about costs:

1. Cost estimates are dynamic: Initial estimates are based on known facts, but unforeseen developments can influence the final total.  Clients are encouraged to provide as much information as possible upfront to ensure accuracy.
2. Breaking down complex matters: For cases like litigation or large commercial transactions, we present costs in stages, reviewing and revising estimates as the matter progresses.
3. Collaborative cost management: Clients are advised to respond promptly to information requests and maintain organised records, minimising delays and additional expenses.

These measures help demystify legal costs, ensuring clients feel informed and secure throughout their matter.

Cybersecurity: Safeguarding sensitive transactions

In an era of increasing cyber threats, both law firms and their clients face the risk of financial fraud. Cybercriminals often target communications involving payment details, exploiting vulnerabilities in email systems to misdirect funds.

Precautions we encourage clients to take:

• Always verify bank account details via phone or in person before transferring funds.
• Never rely solely on email for payment instructions—even familiar addresses can be compromised.
• Use only known contact numbers or those obtained independently from trusted sources, such as our official website.

Our role in cybersecurity:

• We provide clear payment details verbally at the start of a matter and do not change them without direct communication.
• We advise clients to treat all financial communications with caution, enhancing their awareness of potential threats.

These steps underscore our commitment to safeguarding client transactions while minimising exposure to cyber risks.

Building a framework for collaborative success

Clear communication and well-defined expectations form the backbone of a successful client-lawyer relationship.  As referrers, accountants can play a pivotal role in preparing clients for what to expect when working with a law firm.  By equipping them with the right information, referrers can help mitigate misunderstandings and set the stage for productive collaboration.

How accountants can support their clients:

1. Encourage preparation: Suggest clients compile relevant documents, questions, and goals before their initial meeting with us.
2. Stress the importance of timeliness: Delays in responding to requests or providing information can lead to increased costs or missed opportunities.
3. Promote open communication: Clients and referring accountants should feel comfortable voicing concerns or seeking clarification about processes and fees.

By fostering these practices, you help clients approach their legal matters with confidence and clarity, ensuring a smoother experience.

A final note: The value of partnership

The collaboration between accountants and lawyers is a cornerstone of effective client support.  At Partners Legal Solutions, we’re proud to partner with you in serving our shared clients.  Together, we create a comprehensive network of expertise, ensuring clients have access to the guidance they need, when they need it most.

If you would like to discuss this further, please do not hesitate to contact our office on 03 8517 0150.  

 

 
Partners Legal Solutions Pty Ltd (ABN 52 655 454 014) is affiliated with Partners Wealth Group. Liability limited by a scheme approved under Professional Standards Legislation. This information is general in nature and is provided by Partners Wealth Group. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.