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Beware of divorce advice online.
28 October 2009 :: Business Review November 2009, The Reading Chronicle

Caveat emptor. “Buyer beware!”  Well that’s what they say, anyway. As professional advisers, we are required to give written costs estimates to our clients. Quite right too. Shopping on line, though, may be a rather different experience. I came across an internet divorce site the other day. It gave a flat fee which ignored what one had to pay out to others, for example, the £340 court fees. Whether that organisation, now reported to Trading Standards, gave support and bespoke advice to individuals who might be going through one of the worst times of their lives is another question. I rather doubt it.

People often think that “the divorce” is all. Folk forget that the divorce is the straightforward bit. The issues about children, and tying up finances neatly, take the time.

Capital is key in business. Lately, we have seen numerous professional practices make demands on their partners to up their capital accounts.

A little while ago, a senior management association, Network MP, reported that over a third of law firms it surveyed expected to source additional funding in the following twelve months. Almost 60% of them were contemplating a bank loan. At the time, City analysts expressed surprise at such a high proportion of practices’ intentions. Options were limited further when a large lender to small firms, collapsed with Landsbanki, its Icelandic parent. A year down the line it remains to be seen whether all of them borrowed to the extent they envisaged or, indeed, whether the funding was made available. All this has made the annual round of professional indemnity insurance renewal more fun than ever, particularly with premiums up.

At a recent gathering, hosted by a local firm of accountants, I overheard the comment, “We are getting further away from the recession” which was met with, “...and nearer the next one!” It probably helps to have a black sense of humour in business.

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