The Co-operative Group today announced that its legal services business is to be merged with funerals in a new Life Planning Division.
In its annual results, the mutual announced that its legal services arm posted an operating profit of £1.5m in 2016, compared with a break-even performance in 2015. Income rose from £18m to £22m, lifted partly by more people coming to the business for estate planning and administration services.
After retrenching in legal aid and personal injury, estate planning is now the Co-op’s biggest practice area. The mutual said today that the legal business is to be merged with its giant £300m FuneralCare service ito create a new Life Planning Division.
CLS was one of the first three alternative business structures licensed by the SRA and was seen to be the pioneer for the new wave of non-legal entrants attracted to the sector following the Legal Services Act and subsequent liberalisation of the market.
Funerals to swallow newly profitable ABS pioneer Co-op Legal
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