Fee-share law firms outpace traditional rivals in lawyer recruitment surge

Setfords tops 2024 lawyer hires as fee-share model dominates recruitment across UK legal market

Setfords legal recruitment UK reports that fee-share law firms are rapidly growing in the UK legal sector, attracting hundreds of new recruits and surpassing traditional firms in lawyer hiring, according to Codex Edge’s latest annual report.

Setfords led the recruitment charge with 189 new lawyers in 2024, up from 150 the previous year, while the hybrid model at Taylor Rose secured 108 hires. Traditional firm Knights followed with 98, trailed by Addleshaw Goddard (96), US heavyweight Paul Weiss (84), and fee-share operations DWF and Keystone Law, each bringing in 83.

Rounding out the top ten were Gunnercooke (74), CMS (69), and Clyde & Co (68). Notably, more than twice as many lawyers left traditional law firms for fee-share platforms than moved in the opposite direction.

The trend reflects a broader shift in legal career preferences, as lawyers seek greater autonomy, flexible working arrangements, and better income retention through fee-sharing models.

Codex Edge’s report noted that for the first time, more lawyers joined fee-share firms from in-house roles than left private practice for corporate legal departments — a symbolic shift highlighting the platform model’s growing appeal.

“It’s notable that the vast majority of hires by platform firms still come from traditional law firms,” the report stated. “This shows the sector’s ongoing growth potential, with less than 20% of hires being cannibalised from other platform firms.”

Setfords may have dominated in raw numbers, but W Legal earned the top spot for retention with a 97% rate. Setfords came in 10th at 88%, suggesting rapid expansion may carry attrition risks.

Growth is not confined to lawyer headcount. Fee-share firms continue to show robust commercial viability. The compound annual growth rate (CAGR) at Bexley Beaumont hit over 30%, with Setfords (28%) and Spencer West (24%) close behind. Among smaller firms, Carbon Law Partners saw an eye-watering 56% CAGR.

This growth reflects an evolution of the platform model from niche to mainstream. Once dominated by property and private client work, today’s fee-share firms cover residential property (1,011 consultants), commercial property (867), litigation (506), corporate/M&A (367), and employment law (359).

Codex Edge chairman Roger Wagland remarked: “What started as a model best suited to property or private client work has rapidly evolved into a broad-based alternative for lawyers across virtually every discipline.”

He added a note of caution: “The talent pool for lawyers with the right level of contacts and seniority is not unlimited. As more firms adopt the consulting model and existing platform firms push for growth, competition for talent will intensify.”

At the close of 2024, the sector’s ‘big four’ in terms of lawyer count were Setfords (587), Taylor Rose (522), Keystone Law (519), and gunnercooke (418). Smaller but rising firms include Spencer West (240), Excello Law (204), Lawhive (161), Nexa Law (150), and Bexley Beaumont (82).

The report concludes that platform firms are no longer an outlier in the legal ecosystem. They represent a viable and attractive alternative for solicitors seeking control over their careers — but as growth surges, maintaining operational resilience and lawyer support will be key to sustaining momentum.