Partner and Head of Private Client, Charlotte Keating, has recently achieved distinction in a qualification that secures Prosperity Law’s Private Client department as a leading choice for family business owners. The STEP Advanced Certificate in Advising the Family Business is a specialist course focused on the delivery of Private Client legal services to those involved in family businesses.
Speaking on the appointment, Charlotte said:
“Private Client solicitors deliver a range of specialist services, to people of varying circumstances. But when it comes to those who own a family business, there are additional things to consider, especially regarding succession planning and wealth protection. Whilst several Solicitors will have completed the STEP Diploma, the Advanced Certificate really homes in on the expertise we offer family business owners.”
Research carried out by IFB Research Dynamics and Oxford Economics found that in 2022, there were 4.8 million family businesses, employing 13.9 million people. As a significant UK employer and contributor to the UK economy, the importance of protecting these businesses through astute legal advice reaches beyond that of the individual, as Charlotte recognises:
“The STEP Advanced Certificate looks beyond knowing your client (which we always do as part of Private Client practice) and examines the impact advice has on the business, the wider family, other stakeholders, and employees.
This comprehensive approach is proving to be especially helpful for clients as it allows advice to be tailored to suit the client’s broader needs and concerns, instead of focusing only on the usual inheritance tax planning.”
With many business owners likely to separate out their corporate legal team from their personal legal team, there are efficiencies to be gained by having both within one firm. As a multi-disciplinary operation, Prosperity Law excels at working collaboratively – a skill which gives them the ability to provide a holistic approach to clients. This in itself was also a major focus of the STEP training. As well as covering topics like ownership governance, the family business system, and knowing your client, the Advanced Certificate covers ways of working with multiple advisors, identifying different perspectives and providing conjoined advice – and this knowledge will now strengthen Prosperity’s services. Congratulations Charlotte!
Prosperity Law’s Private Client team work with clients across England and Wales, with offices based in Manchester, Liverpool, Leeds and London. If you’re a family business owner and would like to speak to one of our experienced team, email charlottek@prosperitylaw.com, or give us a call on 0161 464 7595.
