Is it Worth Specialising in Legal?

The days of having a ‘rounded’ practice experience seem to be over. Nowadays, most lawyers starting out in the profession are encouraged to specialise in one sector of law very quickly, and then they might decide to specialise even further down the line. This seems to have been driven by market factors – a wide range of choice has driven legal professionals to find new avenues of business, and new factors they can use as selling points. 

And, since the COVID-19 pandemic, there has been even more of an impetus for specialised legal advice, with even location no longer being a limiting factor to doing business. As such, it looks like taking a field to specialise in is becoming more and more significant – but is it worth becoming an expert in one field?

Perhaps the most significant reason why it might pay to specialise is that it offers you a unique selling point. Certainly, some specialisms are very broad, like family or commercial law, but some lawyers are going into even deeper niches. Certain law firms, like Sackers or Nexa, are entirely built on offering very specialised services that deal in-depth with an aspect of the law or a service that might not be catered for elsewhere. Sackers, for example, deals purely with providing pensions advice, and has built up a reputation as field leaders; to the point where they ended up on the list of the top 100 UK firms, despite their status as a specialist. Nexa, meanwhile, is broader, but their lawyers are top specialists in a variety of fields. They have lawyers who specialise in commercial real estate for the science and technology industries, a specialist regulatory and health and safety practitioner with expertise in fire crime investigations, even a corporate lawyer who has a specialised sub-niche in healthcare sector by offering his services for dental professionals. These very niche practices have paid off, however – the company’s team have grown by 400% over 2 years. So, it does seem like it pays to specialise, especially as a way to give you a chance to shine over your competitors.

One important thing to bear in mind about specialising is getting out there and being noticed by the people you want to attract. In a niche area, strong recommendations and word of mouth become even more key, as they will be the way you find more business and grow your case numbers. You’ll need to give good service right from day one, because without those recommendations, you won’t be going far, especially if you haven’t got the backing of a firm or practice behind you. But, by specialising, you should have a flow of leads that you can use, and marketing a specialist firm is much easier than try to sell a general practice that may not be established. However, there are several potential risks involved in going niche: changes in the market being the biggest. If you specialise in one vertical, then you need to make sure you can weather any changes, problems or shifts in demand – because if not, any sudden changes in the market could end up dealing a serious blow to your firm.

Thanks to an attitudinal shift in the market, specialised and boutique law firms are doing better than ever – and, thanks to the changes to the services market brought about by the pandemic, it seems like being a more specialised lawyer is the way to go. Our team here at Douglas Scott, for example, specialise in a wide range of verticals, and we have teams covering very specific areas of law, such as Inhouse, National Insurance and Corporate and Commercial. While there is still a need for good all-round lawyers and solicitors, the old model is being ripped up – and it seems like those who are focusing on the areas they are most interested in are the ones winning out here.