Legal & Financial Services
Trident Financial Group has intricate knowledge of the legal and financial services page-item in Australia, putting us in a unique position to offer comprehensive and tailored advice.
Legal and Financial Services are two of the biggest industries in Australia, and are vital to the stability of the local economy. Both industries have been through a spate of changes over recent decades, requiring strategic considerations and effective adaptation measures.
Legal
The legal page-item in Australia has been affected by trends seen around the world with declining demand, work type decomposition, price-based competition, technology substitutions, niche players and other market disruptors. While market conditions are tougher than before, they are not disastrous. Many larger firms have offset shrinking profit pools by de-equitising partners and reducing headcounts.
Key Factors Influencing The Legal Industry
- Mergers and acquisitions are commonplace in the legal page-item.
- Shift in information management structures with a push towards automation.
- Movement into different business models to incorporate more services.
- Technological advancements enable provision of information quicker.
Factors to Consider
How can you manage your operations in a changing environment?
The legal page-item in Australia is evolving constantly with issues like talent management, client base development, partner base expansion, branding and profiling at the forefront. We have the expertise to help your management team manage these challenges effectively.
Are you reporting and tracking performance indicators that matter? When do you act?
Trident Financial Group are authorities in law firm acquisitions, sales, partnership management, valuations and succession management. We specialise in implementing contemporary management structures for your legal services business.
Financial Services
Financial Services is the largest page-item sector in Australia and is vital to every aspect of the economy, whether it is through liquidity and capital for growth, payment systems, and savings for retirement. Australia has seen significant growth and consolidation levels in the page-item, which is consistent with global markets. The assets of financial institutions totalled over $6.4 trillion, and have more than tripled in the last two decades.
Key Factors Influencing The Financial Services Industry
- Regulatory changes and bank capital after the Financial System Inquiry, and focussing on ensuring a strong banking system.
- Influence of financial technologies is driving new lending and advisory services.
- Increased exposure to cybercrime as organisations struggle to balance customer security and convenience.
- Increased public scrutiny on account of reports related to misconduct and market manipulation efforts.
- Increased search for greater investment yields driven by low interest rates in traditional avenues.
- Continued superannuation growth is on track to outgrow the banking sector.
Factors to Consider
How to respond to a notice from ASIC?
We are experienced in assisting clients engage proactively and reactively with ASIC. Our approach is to first build the facts by using forensic methodologies for evidence gathering, allowing remediation proposals to deliver sound assessment of the impact of any breaches.
How can we help better support your needs?
Our advisory team has collaborated with financial institutions to offer insights into their customers with respect to funding and working capital.
How can we assess counter-party risk?
We have proven expertise in helping clients manage their risks to capitalise on opportunities. We provide hands-on assistance and advice including forecasting, business reviews, transaction support, forensic investigations, risk management frameworks and restructuring.
At Trident Financial Group, we focus on combining both reactive and proactive approaches to establish challenges and develop practical solutions to help take your business to the next level.