Baskerville Drummond has made a key hire to its team with the appointment of Richard Wyatt, a 35-years’ experienced law firm finance director and long-time Law Society lecturer.
At Baskerville Drummond, Richard’s appointment enhances its already highly respected IT services to include the financial reporting and management aspects of system implementation and reporting.
The position has arisen as Baskerville Drummond recognises that many legal practices have difficulty in understanding how to become more successful financially and can’t afford to employ a full-time finance director or engage their accountant for additional support. Sometimes too there’s an unexpected absence to fill from departing employees.
By recruiting Richard, Baskerville Drummond now solves this problem by offering value for money finance director-level support on an outsourced basis. With ad hoc, part time consultancy provision, Richard empowers clients to produce the appropriate business intelligence reports and advises on both the strategic and day-to-day alterations necessary to bring about positive change.
Richard is widely known in the legal industry as he’s advised and worked in law firms throughout his lengthy career. Richard’s previously been finance director for Tollers in Northampton, Piper Smith Watton in Westminster, and Greenwoods GRM in Cambridge and London. He’s passionate about helping law firms and their owners to improve their financial performance.
Richard has also co-authored a business management reference book titled “Measuring and Reporting for Law Firm Success” whose purpose is to enable managers to produce focused financial reporting and monitor performance in order to drive higher profitability, healthier cash flow and improved productivity.
In his new post at Baskerville Drummond, Richard’s role is to assist managing partners, department heads and other senior management in both strategic issues – such as identifying potential merger targets and applying due diligence in merger situations, succession planning, and devising partner and staff reward schemes – and day-to-day management issues – including assessing existing finance teams and pinpointing skills gaps, mentoring leaders, and highlighting profits arising from each area of the business.
More broadly, Richard gives the strategic oversight and challenge to the business owners usually provided by a non-executive director. Baskerville Drummond clients can select the services best suited to their unique needs and financial standing from Richard’s broad skillset.
“I am absolutely delighted that Richard has joined us. His knowledge and professionalism are outstanding, and I am looking forward to him developing our business significantly over the next few years”.