A new video series launched by Lawyers Financial aims to provide some useful insights and tips for lawyers who are — or are considering becoming — sole practitioners, says Dawn Marchand, vice-president of marketing and direct distribution for the CBIA/Lawyers Financial.
“Our reason for being is to help lawyers — primarily with their financial well-being, but in other areas as well. We just want to do our part in helping them as much as we can,” Marchand tells AdvocateDaily.com.
“We’ve gleaned much advice from solo lawyers that can help others. That’s the goal,” she says.
Marchand calls the format of the series “docu-videos,” and she’s excited to share the new initiative with members.
You can watch the videos in the blog section of Lawyers Financial's recently unveiled new website, www.lawyersfinancial.ca.
In the series, solo lawyers describe the pros and cons of practising on one’s own and offer advice to others doing the same, she says.
The first in the series is now online and focuses on family health lawyer Lisa Feldstein. Click here to watch it.
Marchand says Feldstein began working for a firm in health law and realized families did not have representation in this field, so she branched out on her own.
“I was lucky enough to be raised in a family of entrepreneurs,” Feldstein says in the video. “So I think the intimidation factor of going on your own wasn’t as prevalent for me.”
Marchand says lawyers who are practising on their own enjoy more freedom, but there can be drawbacks, too.
She says there are three main challenges facing these lawyers:
- Law school curriculum doesn’t cover how to run a business
- Social isolation
- Lack of mentorship
“I’m not saying that law school should prepare you to operate a business. You just won’t get that knowledge at school, but the Law Society of Ontario does have useful information on its website,” she says.
