HW Fisher announce Compliance on Demand acquisition while Price Bailey partner with Ashtons Legal

HW Fisher announce Compliance on Demand acquisition while Price Bailey partner with Ashtons Legal

HW Fisher announced their acquisition of Compliance on Demand. Separately, Price Bailey announced a partnership with Ashtons Legal

HW Fisher announce Compliance on Demand acquisition while Price Bailey partner with Ashtons Legal

Two top 30 accountancy firms, HW Fisher and Price Bailey, have today announced strategic partnerships. HW Fisher announced their acquisition of governance, risk and compliance consultancy, Compliance on Demand.

Separately, Price Bailey announced a partnership aimed at creating cost-effective dispute resolution with Ashtons Legal via Escalate dispute resolution service.

Escalate is a collaborative venture involving accountancy firms, law firms, funders and insurers. Its mission is to bring together the dispute ‘supply chain’, enabling the 250,000 small and medium enterprises across the UK better access to justice.

No win, no fee dispute resolution

According to Price Bailey, many SMEs leave legal and financial disputes unresolved because they fear the potential cost involved without a guaranteed positive outcome. Escalate appear to be bringing the well-known ‘no win, no fee’ model into business dispute resolution. A business which pursues a dispute in this way will only pay a fee if a successful settlement is achieved.

“Resolving a commercial dispute has historically been time consuming, costly and risky for claimants, which is why many of them decide to reluctantly write-off what they’re owed,” said Matt Howard, insolvency and recovery partner at Price Bailey. “Escalate has helped to put that right. By removing financial risk, providing transparency on process and pricing, and ensuring that the claimant remains the main beneficiary on settlement, Escalate provides an opportunity to resolve disputes in a way that helps rather than hinders businesses cash flow.’’

Tom Bailey, partner at Ashtons Legal added that this was a “game changing” partnership. “Escalate’s mission is to help the SME business community so that the £40 billion that’s written off each year as bad debt is reduced. In our view, a bad debt is just a commercial dispute that didn’t get resolved. Escalate is already helping SMEs to recover more than £50 million that is currently locked up in commercial disputes. The partnership with Price Bailey is a game-changing proposition to help SMEs with their cash flow and avoid some of the inevitable bumps in the road that come with running a business”.

HW Fisher family grows

HW Fisher’s deal is a joint venture between them and ex City Lawyer, Philip Olmer, who founded Compliance on Demand. Both will hold 50% of the business.

The Compliance on Demand team will move to HW Fisher’s London headquarters with the intention of growing it’s offering to assist clients in a business environment that increasingly focuses on governance, risk and regulatory compliance.

Prior to founding the business, Philip was based in London and headed up legal and compliance departments at global top ten real estate asset manager, AEW Europe. Before that he was a partner in the real estate departments of City law firms, Berwin Leighton Paisner, Olswang and Nabarro.

“This is an exciting step for the Practice,” said Russell Nathan, senior partner at HW Fisher. “The new offering will significantly enhance our services for clients and adds to our existing portfolio spanning Audit, Private Client Services, Corporation Tax, VAT, Business Process Outsourcing and Forensic Accounting. I am looking forward to working with Philip to jointly grow Compliance on Demand and to support clients across the board.”

Initially focused on advising the real estate sector, it is envisaged that Compliance on Demand will move to embrace new sectors, including Corporate, Professional Support, Private Equity and Fund Management.

Philip Olmer, Managing Director at Compliance on Demand added: “In an increasingly complex regulatory environment, compliance cannot be seen as just as ‘tick box’ exercise. Successful organisations depend on their reputation and I believe that we share this vision with HW Fisher. Our joint offering will help support businesses to thrive. I am delighted that we are joining forces and hope that this is part of a bigger vision to provide clients with a holistic and strategic offering.”

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