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2026 FAMILY, PRIVATELY OWNED AND OWNER-MANAGED BUSINESS SURVEY

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Strategic financial leadership without the executive overhead

Running a successful law firm requires more than just clinical legal excellence; it demands sophisticated financial leadership. However, for many mid-tier and growing firms, the cost of a full-time, high-calibre Finance Director (FD) can be prohibitive. This often leaves Managing Partners to shoulder the burden of financial strategy—a role that takes them away from fee-earning and firm development.

At Armstrong Watson, we bridge this gap. As the only accountancy firm working in partnership with the Law Society, we provide access to board-level financial expertise on a flexible, outsourced basis. We act as an extension of your management team, providing the high-level foresight needed to navigate the complexities of modern legal practice.

Beyond the numbers: a partner in your boardroom

Our outsourced FD service is designed for firms that need strategic direction rather than just bookkeeping. We don't just report on what has happened; we focus on what needs to happen next. Our specialists, who are also founding partners of Law Firm Ambition, work with your board to:

  • Drive Strategic Planning: We help you set and achieve long-term commercial goals, ensuring your financial structure supports your firm’s vision.
  • Master Cash Flow and Working Capital: We implement robust systems to manage lock-up and WIP, ensuring the firm has the liquidity needed for stability and investment.
  • Oversee High-Level Budgeting: We move beyond static spreadsheets to create dynamic, rolling forecasts that allow you to adapt to market shifts.
  • Support Partner Decision-Making: Whether you are considering a new office, a lateral hire, or a merger, we provide the objective financial modelling to support the business case.

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A professional extension of your firm

We understand the unique cultural and regulatory pressures of the legal sector. Our FDs speak your language, working alongside your COFA and Managing Partner to provide a steady hand on the firm's financial tiller. By outsourcing this role to Armstrong Watson, you gain the collective intelligence of a firm that advises hundreds of legal practices across the UK.

Our approach to fees

We believe in total fee certainty. Our outsourced FD services are typically delivered via a fixed-fee monthly retainer, tailored to the specific level of support your firm requires. This value-led approach ensures you have access to a senior financial partner whenever you need them, without the significant National Insurance, pension, and benefit costs of a full-time executive hire.

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Key Contacts

Andy Poole

Corporate Finance Partner

Sally Jones

Accounting Director

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