In this latest Today’s Wills and Probate podcast host David Opie is joined by Arken.legal CEO Dave Newick.
A “technologist” in an industry where technology adoption has traditionally been slow, Dave shares his thoughts on whether the private client is ready for a technology revolution, or whether it will be more of an evolution.
Add in to the mix a host of wider demographic and economic considerations including
- the generational change occurring in legal services as long standing baby-boomers and Gen-X solicitors retire
- law firm consolidation
- a period of slower economic growth with a focus on process efficiency where research has shown up to 50% of a solicitors time can be spent re-keying data
- the largest transfer of wealth in history with $38.8tn transferring from baby-boomers and Gen-X to Millennials and Gen-Z before 2060
and the industry is ripe for change.
Dave discusses his thoughts on the changing dynamics of the industry, the way technology adoption is being driven by younger members of the profession, and how important being “technology-enabled” is as a recruitment tool for law firms.
The Today’s Wills and Probate podcast is available on your preferred podcast provider, and at www.todayswillsandprobate.co.uk. Subscribe today to hear all the latest news and views across the wills and probate sector.
