In this edition of Focus On, we feature Carol Nuttall from Adlington Law. Discover more about Carol’s role in the Legal Forum, her goals, and her insights into the challenges and opportunities within the sector.
Tell us about yourself and your role with the Council?
I’m the founder and Director of Adlington Law and we specialise in equity release and private client law. Our private client team are also specialists in equity release, meaning that we can provide advice, guidance and services that compliment the ever-changing landscape of equity release requirements.
I am also the Vice Chair of the Council’s Legal Forum and a member of the legal Standards Refresh Committee. My role involves working with other legal professionals who specialise in equity release, with a view to constantly reviewing and improving the standards for clients by strengthening the legal processes. The Legal Forum is also able to raise issues which we believe should be dealt with by other forums within the Council to ensure that the industry works together to improve not only the customer journey but to protect the industry as a whole.
When and why did Adlington Law join the Council and what have the benefits to date?
We joined the Council within the first year of opening. At the time there was little assistance for law firms in equity release and the industry was still tainted by bad press from years earlier. The Council provides a way to bring the industry together and to improve levels of communications across the industry. In recent years especially, the Council has become far more effective in communicating updates in the sector and introducing more professionals into the sector to try to provide one hub where information can be stored, shared and utilised to help shape and strengthen the industry.
Please explain the role of the Legal Forum and its motives for 2024 and beyond.
The legal forum consists of a number of lawyers from within the equity release sector. The lawyers represent both Borrowers and Lenders, which enables a varied discussion to take place. We will discuss matters relating to how Solicitors conduct themselves in the delivery of legal services to ensure that we are upholding the principles of the Council but also adhering to the Regulation by which we are governed as a profession. During 2024, we have been dealing specifically with addressing how we deal with customer vulnerabilities and what the profession can do to tighten up the processes to ensure even the most vulnerable of clients are protected.
Please could you share your views on the opportunities and challenges in the sector?
I think the challenge we face as a sector is ensuring that we maintain the same high standards continuously and continue to strive to improve on these. There will always be those who will want to challenge the stringent steps that have been put in place and there will be those solicitors who are not specialists who perhaps choose not to adhere to these strict requirements, but the Solicitors who are members of the forum will continue to work on improving standards and educating others.
What would you say to any member / individual interested in joining the Legal Forum in the future?
Joining the legal forum is something that we do to improve the industry as a whole and not just to look after our own individual practices. We are committed to ensuring clients are protected, advised, and informed so that we can ensure the longevity of the industry and continue to improve standards. By educating others, invariably we are offering guidance to potential new members which can increase competition but we have to look beyond that for the good of the industry. You also have to be committed to giving up your own time on a regular basis and engaging in tasks that may be set.
- The views of contributors are not necessarily shared by the Council
