Morton Fraser flourishes as clarity strategy succeeds

Morton Fraser has reported substantial growth in the last three years, in line with its strategy.

The firm has increased revenues by 42 per cent in the last three years, hitting £19.37 million in annual billings for the year to April 2016. This represents a seven per cent year on year increase and is above the average rate of growth of the UK’s top ten law firms*. It expects to break the £20m benchmark in 2016/17.

The firm has seen its profits increase by 8.5 per cent from last year, reaching £7m. All employees will share in Morton Fraser’s strong profit growth as its performance-related bonus scheme will reward staff with up to 10 per cent of their annual salary.

While the firm’s success has been strongest in its commercial real estate, corporate and banking & finance offerings, it has been seen revenue growth across all areas of the business.

Its 80-strong public sector team has had a string of recent wins on the Scottish government’s expanded Legal Services Framework and in June secured the services of one of the country’s most high-profile public law experts in Lynda Towers, formerly solicitor to the Scottish Parliament.

Chris Harte, chief executive of Morton Fraser said: “The Scottish legal market has seen real change in the past three years but our results show there is still scope for independent firms to thrive.

“We are winning business from London where UK and international firms are seeking a Scottish thoroughbred with an in-built understanding of the legal market here. Our position as an independent Scottish firm has certainly supported that drive. We are also benefitting from the demand in the domestic market for clear, tailored advice – and that plays to our strengths.”

Commercial success at Morton Fraser has coincided with the introduction of a new “commitment to clarity”. The clarity commitment drives how Morton Fraser conducts relationships with clients from initial communication to the way advice is shared and used. The commitment also includes a promise to all clients that they do not have to pay bills that do not match their expectations.

Mr Harte added: “Most clients tell us that, in addition to first-rate technical and sector knowledge, they want clarity on costs and advice. No surprises on fees and no sitting on the fence. Our clients want advice and clarity, not information without a clear way forward. This desire for clarity is consistent right across our client base, from a private individual drawing up a will to a large corporate client entering into a complex finance deal.”