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Akoni is FCA authorised with 17 banking partners providing solutions for UK law firms

CLIENT & TRUST ACCOUNTS

 

Solicitors Client Accounts

Akoni provides 2 specific services relating to Client Accounts:

Leading Bank Client Account products, complying with Solicitors Regulatory Authority (SRA) requirements offering highest returns.  You can opt to keep your existing Client Account with bank account details, and open a leading return instant access Client account, as per the SRA rules. 

Akoni is also a Third Party Managed Administrator (TPMA) per the SRA guidelines and is FCA regulated and can provide a range of cash management solutions and products in respect of TPMA services. 

Trust Accounts

Trustees have specific obligations relating to cash management, which have been recently highlighted recently by the SRA. Easily manage your cash, increasing returns and meeting trustee obligations, as well as separating use of trust accounts from Client Money. We work with leading providers of trust accounts to the legal sector. Accounts are set up and cover Executor Accounts, Power of Attorney and Court of Protection.

 

BETTER CASH MANAGEMENT

 

10-15x existing returns on cash

Easily manage your cash via our award-winning platform. With access to interest-bearing accounts from an array of highly-rated banks, you can earn more interest and reduce risk without the hassle of multiple accounts.

Time Savings

Our digital cash planner gives you a consolidated view of all your firm's own cash or Client Account funds, no matter where the cash is held. You'll also be able to compare in one place, for free, interest-bearing
products available from leading banks by opening a single hub account.

Peace of Mind - Risk and Diversification

We’re FCA regulated and have partnered with highly rated banks and use FitchSolutions Financial Implied Ratings (FIR) so that you can better match your risk-return preferences and governance requirements. We also provide a Dynamic Cash Management solution for our larger clients, increasing the scope of governance relating to liquidity and risk and producing detailed governance compliance reporting. 

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Our Brexit Opportunities in the Legal sector White paper  includes

Overview of current legal services market in the current climate

See the state of active trends in the legal sector with a look at the state of our current landscape, particularly relating to challenges and opportunities for trade.

New economic and regulatory environment

In particular this will be useful for UK law firms currently working on strategies in anticipation of the new economic end regulatory environment.

External factors impacted by Brexit

Analysis of challenges and opportunities presented by Brexit are examined including the relevant legal regulatory landscape. 

Opportunities and practical guidance for firms of all sizes

Our report provides detailed analysis and guidance relating to practice areas and potential target regions and countries.  We have a specific focus on prospects of small and medium-sized practices which do not have the same resources as bigger clients and those of the 'Magic Circle.'

Discover export opportunities for legal services

A major component of the nation’s services economy, the legal services sector was worth £25.7 billion in revenue to the Exchequer in 2015 (about 1.5% of the UK’s Gross Value Added, or ‘GVA’), while employing 300,000 people and contributed a trade surplus of £3.3 billion that year. The UK’s healthy competitive position has been the result of several interlocking benefits: British courts’ global renown as fair and effective arbitration centres; English Common Law’s pre-eminence as the most widely followed code globally, whose flexibility has made it the framework of choice for international commercial contracts; the UK’s well-regarded system of legal education and qualification; the industry’s proximity to London’s global financial and business activities and the City’s position as a natural ‘window to Europe’ for parties based outside of the Continent.

View the report by completing the form below.

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Fill in the form to below to gain access to our white paper report on the legal sector