Case Study: a boutique probate law firm reduces risk and admin burden with Shieldpay

The Legal Director manages £4.9M in probate funds with Shieldpay

The Legal Director, a boutique law firm, was hesitant to hold client funds due to the significant administrative burden of non-billable tasks like due diligence and KYC checks, as well as the risks of fraud and non-compliance with SRA Account Rules. They also struggled with managing fluctuating FX rates and releasing funds for estate maintenance before probate was granted.

By implementing Shieldpay's outsourced managed account solution, the firm significantly reduced its administrative burden and risk. Shieldpay conducted all necessary due diligence, provided competitive FX rates, and safeguarded funds. The results included saved time, a superior customer journey, and the successful management of approximately £4.9 million for 9 probate projects, with funds distributed to 71 executors and beneficiaries.

The Legal Director