financial planning, forecasting and budgeting for law firms
DESCRIPTION
'This conference is an excellent opportunity for law firm Finance Directors to come together to fine-tune their financial planning and forecasting tools in the context of ongoing changes in the legal services market.'Robert Mojab, Finance Director, DMH Stallard LLPTRANSCRIPT
This conference is an excellent opportunity for law firm Finance Directors to come together to fine-tune their financial planning and forecasting tools in the context of ongoing changes in the legal services market.
One-day conference1 7 December 2010, London
Managing Partner Events presents the 5th annual
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Strategic business planning for change and uncertainty
5 easy ways to register
Financial planning, forecasting and budgeting for law firms
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A one-day intensive conference that will ensure you:
Model your costs to match forecasts in an unpredictable climate »
Understand the implications of external investment on your plan »
Get more from your bank »
Work harder to engage your practice heads in a difficult climate »
Discover how alternative pricing will impact on your forecasts »
Plan for international expansion, mergers and acquisitions »
BOOK BEFORE1ST OCTOBER
AND
SAVE £149
Media Partner:Researched by:
Tel: +44 (0)20 7566 5792 E-mail: [email protected] Web: www.ark-group.com Fax: +44 (0)20 7324 2373 Or see back page for mailing details
Expert contributions from:S J Berwin LLP »
Edwards Angell Palmer & Dodge UK LLP »
DMH Stallard LLP »
Tollers LLP »
Hill Dickinson LLP »
Manches LLP »
Fox Williams LLP »
Smith & Williamson »
Attendance at this event can count towards CPD for ICAEW members if it meets the training and development needs relevant to the member's current role.To claim SRA CPD points for this event, please quote: ANS/ARCO
Robert Mojab, Finance Director, DMH Stallard LLP
tel: 020 7566 5792 fax: 020 7324 2373 e-mail: [email protected] web: www.ark-group.com
WHY THIS EVENT?Translating your firm’s strategy into an accurate statement of forecast fee income has never been easy. But in the current market, while uncertainty abounds, and as markets recover, it has become harder than ever. Not only do you not know how quickly the turnover of work will pick up but also your fee-earners may be less willing to put their name to revenue predictions.
This year’s conference programme has been completely refreshed to tackle financial planning in the context of change, whether that be economic change and market uncertainty; structural change such as the implications of the Legal Services Act; strategic changes planned by your firm, such as international expansion, mergers, acquisitions, and the adoption of alternative pricing models; or even, a change in the relationship with your bank, and the commercial terms it offers you, and how this, too, can impact on your plan.
Our senior level speakers will address all of these issues and more, so that you leave this compact one-day conference with new insights that will help you to stay on top of providing accurate forecasts and budgets to the firm amid the market and business change that is occurring around you.
Just as important as forecasting revenue accurately is structuring your business model, managing your costs and timing your investments effectively so that these match the workload you anticipate. In a keynote speech, Keith Wood, Chief Executive at S J Berwin LLP, will explain how you can do this.
Also, don’t miss our special focus sessions on getting more from your bank. You’ll have the opportunity to quiz a financial adviser about the terms you can currently expect as well as the chance to hear from a law firm about the ways in which it has kept its bank on side.
Even if you have been to a financial planning conference in the past, this December’s intensive one-day conference is filled with so many new ideas to help you keep your financial plan on track amid the current change and uncertainty that you just can’t afford not to be there!
"Practical advice on forecasting that I will try to implement"
Beverley Edhouse, Financial Director, Warners Solicitors
"Very useful conference which highlighted key points to be addressed"
Mohinda Chima, House Partner, Adams Solicitors
"I really enjoyed it, some excellent content, good speakers and venue. Thank you"
Declan Tyrrell, Director, Lucid Solutions
"Very useful conference which highlighted key points to be addressed"
PAST FEEDBACK
"I really enjoyed it, some excellent content, good speakers and venue. Thank you"
WHAT OUR DELEGATES SAID ABOUT THE 2009 EVENT
Chief Executive (Officer) »
Chairman »
Managing Partner »
Senior Partner »
Chief Finance Officer »
Finance/Financial Director »
Financial Controller »
Finance Manager »
Accountant »
Management Accountant »
Chief Operating Officer »
Head of Business Planning »
Head of Financial Planning »
Business Analyst »
Financial Analyst »
WHO SHOULD ATTEND?
S J Berwin LLP »
Edwards Angell »Palmer & Dodge UK LLP
DMH Stallard LLP »
Tollers LLP »
Hill Dickinson LLP »
Manches LLP »
Fox Williams LLP »
Smith & Williamson »
Focus on Banking »
EXPERT CONTRIBUTIONS FROM:
tel: 020 7566 5792 fax: 020 7324 2373 e-mail: [email protected] web: www.ark-group.com
Tuesday 7 December 201009:00 Registration and refreshments
09:30 Chair’s opening remarks
PLANNING FOR EXTERNAL CHANGE
09:40 KEYNOTE: Remodelling your costs constantly to match forecast revenue and plan effectively in an unpredictable climate
Forecasting your income on a quarterly basis »Measuring and monitoring your costs every three months »Structuring your firm according to current market rates »Balancing cost-control with the need for investment »Timing investments effectively »
Keith Wood, Chief Executive, S J Berwin LLP
10:20 Understanding the implications of the Legal Services Act and external investment for the financial planning process
The background to the Legal Services Act 2007 »The level of interest in external investment »The expected shape of the legal market »The implications of external investment, including structure, ownership, »financial planning, valuation, reward and governance
Giles Murphy, Professional Practices Director, Smith & Williamson
11:00 Morning coffee break
PLANNING FOR STRATEGIC CHANGE
11:30 International expansion: Strategy development, approval and implementation
Identifying the case for international expansion »Building the case, including financial planning »Sensitivity analysis in relation to financial planning »Achieving approval of the plan »Execution of the plan »Regulatory »Follow up »
Steve Rowan, Director of Finance & Administration, Edwards Angell Palmer & Dodge UK LLP
12:10 Financial planning for mergers and acquisitions
In an ever-consolidating and changing legal industry, the need for Finance Directors to understand how to implement a successful merger or acquisition has never been greater. This session will cover a wide range of topics including:
Mergers and acquisitions – key considerations – the business case, deal »structure, financing implications and costsAcquisitions out of insolvency: Specific issues, pitfalls and tips »Operational aspects: Key success factors »Post-acquisition monitoring and implementation »
Colin Wardale, Director of Finance, Hill Dickinson LLP
12:50 Networking lunch break
EXTERNAL RELATIONSHIPS – YOUR BANK
13:50 Understanding the changing relationship between law firms and their banks
How have the terms offered to law firms changed and what are the »trends/issues to be aware of going forward?What do the changes mean for the financial planning process? »
How can you improve the relationship with the bank and achieve the »best terms possible?DISCUSSION and Q&A: Your chance to quiz Andrew with your burning »questions about banking, or scenarios you are facing with your own bank
Andrew Austin, Founding Director, Focus on Banking
14:10 Working closely with your bank for mutual benefit
Keeping your bank on-side »Providing pre-emptive information to the bank to speed up the risk- »assessment processOffering mutually agreed training on "the view from the other side of the desk" »
Richard Wyatt, Director of Finance, Tollers LLP
14:30 FLOOR DISCUSSION: A chance to put your questions to Andrew and Richard, and also share your thoughts and experiences, about current relationships between banks and law firms.
INTERNAL RELATIONSHIPS
14:50 Working harder to engage practice heads in the budgeting process in the context of a difficult economic climate
Encouraging partners and group heads to engage with the firm’s »strategic planThe need for reliable budgeting and regular reviews during uncertain times »Helping partners and group heads to produce reliable revenue forecasts »in the present economic climateTesting proposed budgets for reasonableness and sensitivity to »external factorsResolving conflicts which arise during the budgeting process »
Robert Mojab, Finance Director, DMH Stallard LLP
15:30 Afternoon coffee break
NON-TRADITIONAL PRICING AND BUDGETING METHODS
16:00 Demonstrating the impact of alternative pricing methods on revenue forecasting
Thinking creatively about pricing »Weighing up the risks involved in fixed fee and conditional »fee arrangementsForecasting revenue effectively when not working with the billable hour »
Jeremy Gubbay, Chief Operating Officer, Fox Williams LLP
16:40 Flexing your budgets effectively based on updated forecasts
Explaining to lawyers why the budgeted figures are changing »Clarifying with lawyers the difference between actual, forecast and »budgeted figuresReporting using flexed budgets »
Louis Manches, Senior Partner, Manches LLP
17:20 Chair’s closing remarks
17:30 Close of conference
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WAYS TO REGISTER1. Tel: +44 (0)20 7566 5792
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4. Fax: this form on +44 (0)20 7324 2373
5. Post to: Marketing Department, The Ark Group, Paulton House, 8 Shepherdess Walk, London, N1 7LB, UK
TO SAVE MONEY ON THIS CONFERENCE1. Pay just £596+VAT/E722+VAT when
booked before 1 October 2010 with a 20% discount
2. Pay just £634+VAT/E768+VAT when booked before 29 October 2010 with a 15% discount
3. Pay just £670+VAT/E812+VAT when booked before 12 November 2010 with a 10% discount
4. Book in groups, please call for a group discount
5. Take out a subscription to Managing Partner magazine and receive a 10% discount
For more information please contactNathan Denham on +44 (0)20 7549 2535 or e-mail [email protected]
CAN’T MAKE THE EVENT?Event media is available containing speakers’ slides and biographies in various formats. Choose from:
Hard copy documentation (black & white) - £210+VAT/E254+VAT
CD-ROM (single-user license) - £240+VAT/E291+VAT
CD-ROM (site license) - £710+VAT/E859+VAT
For more information please contactNathan Denham on +44 (0)20 7549 2535 or e-mail [email protected]
EXHIBITION & SPONSORSHIP OPPORTUNITIESFor details of the wide range of opportunities available to feature your organisation at this event, please contactDipa Patel on +44 (0)20 7549 2554 or e-mail [email protected]
TRAINING COURSESArk Group can provide bespoke trainingcourses on any of our events.For more information please contact Nathan Denham on +44 (0)20 7549 2535 or e-mail [email protected]
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One-day conference: £745 + VAT / E900 + VAT
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One-day conference 7 December 2010, London
Booking ref: 1081-10
Financial planning, forecasting and budgeting for law firms
20% discount when booked before 1 October 2010
15% discount when booked before 29 October 2010
10% discount when booked before 12 November 2010
BOOKING CONDITIONS1. Bookings are subject to availability; in the event of the booking not being accepted by Ark Group the total amount will be refunded.2. Payment must be received in full prior to the course.3. All speakers are correct at the time of printing, but are subject to variation without notice.4. If the delegate cancels after the booking has been accepted, the delegate will be liable to the following cancellation charges: Cancellations notified over 45 days prior to the event will not incur a cancellation fee. In the event of a cancellation being between 45 and 30 days prior to the event, a 20% cancellation fee will be charged. For cancellations received less than 30 days prior to the event, the full delegate rate must be paid and no refunds will be available.5. All bookings submitted by e-mail, fax, post or over the telephone are subject to these booking conditions.6. All cancellations must be received in writing.7. Ark Group will not be held liable for circumstances beyond their control which lead to the cancellation or variation of the programme.8. Ark Group reserves the right to reject any booking at any time prior to the event, without explanation.9. All bookings, whether UK or overseas will be charged 17.5% VAT.10. The prices quoted in Euros are the correct conversion rate at the time of print11. Early bird offers cannot be used in conjunction with any other Ark Group promotion or offer.12. Ark Group reserves the right to reject delegate bookings from vendors and solution providers. Sponsorship and exhibition options are available. Call +44 (0)20 7549 2554 for more details.
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