The Yorkshire-based private client firm Pavilion Row is gearing up for growth after being approved as an alternative business structure (ABS)
ABS allows outsiders to take equity stakes in law firms, creating major opportunities for expansion.
Pavilion Row has also been granted a probate licence by the specialist property law regulator, the Council for Licensed Conveyancers.
The York-based firm is one of only 52 Society of Trust & Estate Practitioner, or STEP, accredited employer partners worldwide.
It provides private client services such as wills, powers of attorney and probate and estate administration services to financial professionals and networks, accountants and non-private client solicitors throughout England and Wales.
Managing director Angus Houston said this was a significant milestone in the firm’s growth.
He added: “Dealing with wills and probate are both areas where it is important to have knowledge, as well as sensitivity and the ability to work with people at a personal level. Our new status gives our customers even more protection through both the Legal Ombudsman and a compensation fund.
“We chose the CLC as we felt that we could form a strong working relationship with them and they seemed to take a broader view of alternative style firms than other regulators.”
Stephen Ward, director of strategy and external relations at the Council for Licensed Conveyancers, said: “The council sets high standards of client protection, beginning with the rigorous process for approving the entry of a new firm into regulation.”