Starting a law practice in England: benefits and risks of the fee-share firm model

For many lawyers, the idea of running their own practice has often remained just that – a dream! Investigating how to open a traditional legal practice can seem like something of a Pandora’s Box: you take off the lid to discover a maze of regulation, expensive insurance requirements, and a never-ending list of operational requirements that you and you alone are now responsible for.

The emergence of fee-share models – where lawyers operate as self-employed consultants within an existing SRA-regulated firm – has changed the entire legal landscape. Firms like gunnercooke have shown that lawyers are able to build thriving practices where they have the autonomy they crave – yet having the support and reduced risk that being part of a wider firm allows.

How do lawyers set up their own practice within a fee-share model?

Essentially, setting up within the fee-share model is a much shorter, simpler process than establishing a traditional firm. Lawyers join an SRA-regulated firm as consultants, operating under its regulatory and insurance framework. The fee-share firm typically provides the essentials – compliance, finance, marketing – so lawyers can focus on doing legal work and developing clients.

Typically the process starts when the lawyer contacts the fee-share firm for an initial conversation to explore whether the lawyer and the firm are the right fit for each other. These conversations involve reviewing the lawyer’s relevant experience and client base – the fee-share firm will want to see evidence of client portability. Different firms will have varying requirements – for example, at gunnercooke culture is key and it is critical that any lawyer joining the firm understands and embraces that culture.

If both parties agree to progress, the firm will then support the lawyer in setting up the basic business infrastructure required to allow the lawyer to start working and billing. From this point, the lawyer effectively runs their own practice with the firm supplying central services support

Helen Miles, Pensions Partner, added:“You still have to work hard, but you set your own motivations and aims… You have financial clarity and transparency in how you manage your own business… It really gives us back control as to how we deliver service and run our lives.”

What are the benefits of joining a fee-share firm?

At gunnercooke, our lawyers most frequently cite autonomy as the main benefit. Lawyers set their own fees, structure their own days, and choose who they work with. Often, established lawyers with loyal clients can earn more at a fee-share than in traditional roles. But money is rarely the most important driver: our lawyers appreciate the unique culture, flexibility and collaboration that the firm’s structure offers.

What are the drawbacks of joining a fee-share firm?

The freedom comes with responsibilities. Lawyers take more responsibility for generating their own work stream, though having the support of the firm’s marketing infrastructure lessens this burden.

There is also often uncertainty in the initial weeks and months. Leaving a traditional law firm structure isn’t for everyone, and requires a certain entrepreneurial mindset to establish and grow a legal practice. However, in a fee-share firm lawyers are never alone – colleagues will share their own learnings and collaborate to drive referrals where possible.

Fee-share platforms offer lawyers a compelling route to building their own practice: independence backed by strong infrastructure, financial transparency, and freedom over their careers. But success demands entrepreneurial energy, self-discipline, and a willingness to embrace uncertainty. At gunnercooke, our lawyers tell us that the rewards more than justify the risk. If this article has inspired you to find out more about escaping the constraints of the traditional model, get in touch