Lefebvre analyzes the level of trust in the legal and professional advisory sector
Lefebvre, a leading legal solutions company, conducts a comprehensive legal industry trust analysis and professional advice to identify the current legal situation, as well as challenges and opportunities. This paper aims to resolve questions such as what level of trust clients currently have in the legal industry, what impact has clients’ relationship with law firms or how innovation can help rebuild trust. in this sector. According to José Angel Sandín, CEO of Lefebvre, “trust is what drives us as a company”. Our aim is “to measure confidence in the sector and, in turn, to create confidence through innovation”.
Gaining trust requires putting the customer at the center
In the study prepared by Lefebvre, one of the aspects that emerges is that in recent months, law firms, advisers, managers and lawyers have had to deal with changes in digitization to s’ adapt to customer needs. For this reason and to meet demand, innovation is a fundamental part of the trust strategy where customers are increasingly open to other, more efficient ways of receiving the service they ask for.
In this preliminary report, Lefebvre also assures that trust within the legal and professional advisory sector has generally been viewed unconsciously and spontaneously; however, this new era requires looking at trust as a cross-cutting element of the entire value chain.
The Lefebvre report underlines that just a few years ago, confidence was built by prestige; But today, it requires putting the customer at the center to form a new type of trust; Although this not only involves the customer, but also reaches other audiences such as employees, community, etc. To achieve this trust, Lefebvre points to various levers: value, communication, adaptation, efficiency, innovation, digitization and knowledge.
Differences in Understanding Trust: Advisors vs. Lawyers
Nowadays, clients see law firms as not acting like businesses and they segment trust into two concepts: reputational trust, linked to obtaining a complex transaction, and trust in a better service. , linked to a more direct relationship with the customer. For Liliana Tamayo, Innovation and Brand Manager at Lefebvre, “Trust has been the key to recruiting legal services and all the evidence that she will continue to do so. According to him, with the study, “we have to start talking about the resignification of trust”. In addition, he considers that the digital transformation, driven by the pandemic, “has changed the strengths and elements that make up trust. These initial findings show us the close relationship between trust and customer centricity. In this aspect, there is a lot of movement in the area ”.
According to the analysis conducted by Lefebvre, professional firms have a forced update of their activities and although they are aware of the need to segment and identify the needs of their clients, they act as entrepreneurs and have doubts. on how to deliver a valuable service. In response to this question, Arturo Lucas, director of the Legal and Compliance department at Servier, specifies that “flexibility in invoicing is essential, whether by the hour, by project or by result. A bond is created which adds value to the firm-lawyer relationship ”.
For their part, lawyers have expressed concern about the change, however, there is a trend of adaptation that large firms do not fully understand, as their advances have not simply translated into customer-friendly service and value. added, or at least large companies don’t see it that way. In this regard, Isabel Álvarez Calvo, Head of Legal at Capgemini, believes that “internal lawyers and law firms must together build this trust, this new standard, provide collaborative tools, new environments, digitize and make this something efficient and of added value. “