Not funding the Porsches and Divorces of the Senior Partners - Lindsay Healy founder of Aria Grace
Manage episode 375783646 series 2928005
A company that makes lawyers wealthier? On the Karmic Capitalist podcast?
Have I sold out?
Stay with me. This law company, Aria Grace, intentionally does the following:
- It offers a legal service on a par with the large law partnerships for less cost to its clients
- It pays the lawyers nearly treble the portion of the fees than in traditional firms
- It donates ALL of its profit to charity
- It tackles the lack of diversity in the legal profession
Lindsay Healy has created a truly disruptive model for law firms with Aria Grace. He does away with the traditional model's payment of 1/3 of fees to partners, 1/3 to the company and 1/3 to the lawyers, and instead gives 90% of the fees to the lawyers, with the remaining 10% paying for the running of the company, and all profit going to charity.
As a result of its work, Aria Grace won The Lawyer Awards' "Law Firm of the Year 2023" award.
This is the legal equivalent of Best Movie at the Oscars. Which I guess makes Lindsay law's Leonardo di Caprio. Without the sleaze.
(Allegedly, Lindsay, allegedly!)
Lindsay has a real issue with the existing model for law firms.
--- Feudal and the worst of capitalism. Inflated fees paying for the "Porsches and divorces" of the partners.
--- Hugely unequal distribution of wealth. He talks a lot about Aria Grace's core concept of "wealthshare".
--- Elitist and exclusionary. "What we don't want is a law firm that looks like me full of people like me because that's what your typical city law firms look like. We want a law firm that looks like the UK, reflective of all the cultures and the creeds and the denominations... We have pretty much every type of culture you can wave a stick at, and that's pretty cool."
What he's building with Aria Grace is challenging all of these precepts and creating a new, and rapidly growing model.
He talks me through this in this fascinating episode, punctuated with many a pot-shot at billionaires and partners, which makes it as fun as it is stimulating.
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