The Multi-Disciplinary Model
The concept of multi-disciplinary practices (MDP's) continues to be hotly debated in legal circles, especially in the UK where the model is already in play. Without question, there is substantive risk associated with cross-pollinating client services between law firms and accounting/consulting firms. Let's take a moment to understand a few reasons why the concept hasn't been widely adopted.
Beyond a practitioner's obvious conflict of interest - as attorneys we protect reserved work and don't see ourselves giving our knowledge away - there are cultural challenges associated with merging organizations whose tapestries are woven by widely disparate threads. Most concerning, however, is what happens when personalized service is replaced by a mixed-use business model that may
not have the clients' best interests at heart.
One example would be potential investors exerting influence over the MDP's clientele, industries or service offerings. Additionally, clients with global interests may find their MDP unrecognized in other jurisdictions. Clearly, there is still much to consider and we should not anticipate these issues to be resolved anytime soon.
