A recent study highlights widespread trust and confidence in legal services but indicates a strong demand for enhanced transparency regarding costs.
- Most of the individuals surveyed expressed trust in legal services, although there is a call for greater cost clarity.
- Technological advancements in the legal sector have positively influenced consumer confidence, according to the data.
- However, concerns were raised over the Solicitors Regulation Authority’s (SRA) enforcement practices and regulatory effectiveness.
- Carol McNaughton Nicholls emphasised the positive role of legal regulators in building trust, despite many not knowing the SRA exists.
A major research study has revealed that while confidence and trust in legal services are robust, there is a pressing need for the Solicitors Regulation Authority (SRA) to address cost transparency. This sentiment reflects the views of various surveyed groups, including legal professionals, consumers, and small and medium-sized enterprises (SMEs), all of whom echoed the importance of clearer pricing information.
The report underscores that technological advancements have bolstered consumer and SME confidence in the sector. Many respondents indicated that the integration of new technologies by legal providers enhances trust in the services offered. Nevertheless, the study calls for increased cost transparency to further solidify this trust.
The data indicates high satisfaction levels among those who engaged with solicitors. Notably, 97% of SMEs and 93% of consumers who had sought legal advice reported trust in their solicitors. However, for those who have not yet accessed such services, the figures are somewhat lower, highlighting a potential gap between perception and experience.
Regulatory effectiveness came under scrutiny, with less than half of the legal professionals acknowledging that the SRA’s actions have improved trust and confidence. Issues cited include disproportionate enforcement actions and a reactive approach to regulation. Moreover, MPs and Welsh Senedd members exhibited limited awareness of the SRA, with only half expressing confidence in legal regulation.
Despite these concerns, there is a general consensus that legal services are well-regulated and offer value for money, with 80% of consumers and 81% of SMEs agreeing they represent good value. Legal professionals urge the SRA not to dictate pricing, advocating instead for enhanced transparency and accessibility to justice.
Looking ahead, the legal sector recognises the necessity of embracing technological changes, especially in artificial intelligence. While consumers and SMEs are optimistic about such advancements, other groups express caution, wary of the risks posed by technology and AI introduced to the legal process. The SRA acknowledges these concerns and is beginning to address them.
Anna Bradley, the SRA chair, stated that aligning public priorities with SRA strategies is crucial, emphasising the importance of maintaining high qualification and professional standards. Thinks Insight and Strategy’s managing partner, Carol McNaughton Nicholls, noted that the presence of legal regulators inherently fosters trust, although public awareness of the SRA’s role remains low.
Overall, while trust in legal services remains strong, the demand for enhanced cost transparency and balanced regulation is evident.
