We can exclusively confirm that SpectraLegal has established a strategic partnership with a leading global asset management firm to provide financing for UK law firms.
The funding will allow us to extend our popular WIP and Disbursement funding product for specialist personal injury and clinical negligence firms – essential at a time when banks and other traditional lenders are restricting access to credit.
John P. Rossos, Chairman & CEO of SpectraLegal, said: “To attract the support and investment of a major global asset management company validates our vision of becoming the leading finance business in this highly specialised market. Our services provide law firms with the financial resources to invest in their cases, ensuring their clients, people injured or harmed through the actions of others, obtain fair compensation for their losses.”
Steve Carter, the Chief Operating Officer responsible for managing SpectraLegal’s UK business, believes SpectraLegal’s products are unique and provide a critical source of competitive advantage for UK law firms.
Carter said: “We foresee a significant consolidation of this market, where our capital can be used by law firms to grow their businesses organically or by acquiring other law firms or their cases. Our experience and expertise can help personal injury firms navigate the difficult challenges of growing their businesses.”
Rossos added: “Through BridgePoint, BICO and GLS, our affiliated businesses in Canada, we are one of few organizations that offer specialised insurance and funding solutions for the global legal services market. We are uniquely qualified to offer law firms an integrated risk management solution covering a broad spectrum of litigation, from personal injury to class action and mass tort.
HOW DOES THIS HELP YOUR FIRM?
We understand specialist claimant personal injury law firms and the unique challenges they face when sharing risk with their clients by having their compensation tied to the success of their clients’ legal claims. SpectraLegal offers more than ‘just money’; we are a valuable strategic partner for your firm.
See how we can help create sustainable growth for your firm; contact Matthew Gwynne, Director of Business Development & Client Relations.