Fulcrum has been ranked as a “Standout” firm in the category of Innovation in New Models in the 2016 edition of FT Innovative Lawyers.
The edition states:
“Rigid structures [for legal businesses] may no longer serve clients’ best interests so flexibility is now their aim.” It goes on “… law firms are experimenting with fresh business models. These new types of firm are emerging to fill the gaps in the market, meet the changing demands of clients and tap into new technologies.”
On Fulcrum specifically, the edition explains:
“…lawyers…can also – by representing multinational companies – help tackle another global challenge: corruption. … poor governance creates risks for companies, particularly since the introduction of the UK’s Bribery Act in 2010.
After perceiving rising demand for due diligence and third-party risk management, Fulcrum founders set it up in 2010 as a specialist legal advisory and consultancy. With multidisciplinary teams that include corporate investigators as well as solicitors and barristers, the firm works closely with enforcement agencies.
As well as representing clients in court proceedings, the firm tries to prevent them being taken to court in the first place. “We see ourselves as more than a fire brigade when the fire is blazing.” Says Ivan Pearce, Fulcrum’s former joint managing director. “A lot of our work is in preventative areas like internal investigations and due diligence.”
The firm offers fixed fees to clients, rather than billable hours. “We’ve got to improve the relationship between the lawyer and the client, and financial concerns are at the heart of that,” says Mr Pearce. “It’s not just about how good you are. They’re worried about how much you’re going to charge them. If you can get that out of the way at the front end in a way that provides the client with certainty, the relationship is so much more positive.” ”
We were delighted to be recognised for structuring ourselves in a way that specifically helps to meet our clients’ needs and for delivering services in a way that they want instead of in a way that outmoded convention dictates.