The third edition of the British Conveyancing Awards is just around the corner. Alongside a new, larger venue and a new headline sponsor in Groundsure, #BCAwards2023 is all about recognising and rewarding the herculean efforts of conveyancing superheroes who, despite hurdles aplenty, continue to go above and beyond to help clients move into their dream home.
Ahead of the splendour and celebration on the 21st March, Today’s Conveyancer will recognise those who help make the event possible through a series of “Sponsor Spotlight” pieces. Here, we speak with Teal Compliance, Supporting the Industry category sponsor.
First of all, tell us who you are and what you do
Teal Compliance is a team of experts who specialise in providing compliance solutions for law firms. The team is made up of individuals with a wealth of experience in running, managing, and training in law firms. We help law firms navigate the complex world of regulations and compliance requirements, allowing the partners to focus on growing their business. We focus mainly on Regulatory Compliance, Financial Crime, and Data Protection. The team is led by me, Amy Bell and our managing director, Emma Dimbylow. We both have over 20 years of experience in the legal industry. We are committed to providing practical solutions to compliance issues, and are dedicated to providing honest and clear guidance to their clients.
What prompted you to support The British Conveyancing Awards this year?
The British Conveyancing Awards is an event that recognises and rewards excellence in the conveyancing sector and we wanted to show support for the industry and this event that highlights the outstanding work being done in the sector. We know how hard people work to give clients their dream home. It can be a thankless task sometimes, but this event really does celebrate that effort to go above and beyond.
How can Teal Legal equip firms to manage transactions and look after clients’ interests despite the current difficulties facing the market?
At Teal, we work in partnership with firms in building compliance programme that work. Especially now, it is critical that firms get value for their investment in compliance. As well as our free webinar series (which include Ask Me Anything Clinics, Teal Talks focusing on specific area of compliance, and our Coffee and Conversation sessions with other brilliant supplies to the industry), we have a number of Ebooks and scorecards to help firms hone in on areas for improvement in this compliance and AML programme. Our SORTED outsourced compliance service can save time for the COLP or MLRO, and provide director level expertise as well as practice support with things like file reviews.
What do you see as the key hurdles the sector must overcome in 2023?
I think there are lots of things, but for people working over capacity because of either hiring difficulties (I’m hearing lots of firms struggling to find the right people) or being reluctant to hire but still taking on work due to fears about the economy. We’re hearing now that burnout and stress is thought to be the fifth highest cause of claims. Keep a keen eye on how much work people have on and how they are managing will be critical to preserving management professional indemnity insurance premiums.
Contrarily, what do you see as something conveyancers should look to with excitement as we move into 2023?
The opportunity of new technology to do the heavy lifting of conveyancing to let the conveyancers do what that love, solving legal conundrums and guiding their clients through the process. We’re on the cusp of really being able to revolutionise not just the process, shortening it dramatically, but also reducing the risks to the clients and lawyers. We need to be open to the art of the possible and how tech can break down some of the barriers I hear concerns about between us lawyers and our client’s other representatives – the agents. I’m excited to see how working together across both industries with technology we can really give our clients their dream.
