Part of Integrated Legal Holdings

Integrated Legal Holdings Limited (ILH) is publicly listed on the Australian Stock Exchange. It was established to consolidate ownership of existing independent law firms and related businesses under one listed legal services entity.

Being publicly listed, ILH offers non-lawyers the opportunity to participate financially in the legal industry.

The ILH model is focused on the steady and selective acquisition of legal firms to develop a network of law firms capable of servicing the diverse needs of a broad and diverse client base.

ILH is one of only a very few publicly listed law firms in Australia. It has been recognised by the ALB Australasian Law Awards (Fast 10 2009 & 2010) and the BRW Fast Starters List (2010 & 2011).

In November 2008, Argyle joined this progressive company.

What led Argyle to join ILH?

Succession planning was the primary objective. Secondly, replacing our current partnership structure with the ILH model would evolve and strengthen our financial position. The corporate ASX-listed model provides us with the opportunity to engage key advocates for the legal industry to obtain equity in a transparent way. We felt ILH, and the opportunities it provided, was instrumental to progressing Argyle to the next level.

ILH was chosen as we felt they were a good fit; we were looking for a new long-term approach to the future equity of Argyle and ILH was looking to add an east-coast firm to their network.

Why move on from the partnership system?

Whilst Argyle was able to maintain equity partner earnings in the top half a percent of Australia’s legal profession, it was difficult to achieve constant succession. We were seeking an alternate path and found that with ILH.

What does the IHL model have that Argyle did not?

Quite simply: the offer of real equity.

Argyle employees now have the opportunity of equity in the business – no matter what level or position they hold. This includes not only Principals and associates but also support staff. Equity can now also be offered as part of our employee benefits scheme.

What do we mean by real equity?

As a publicly listed company, the equity in ILH that is earned through Argyle is listed on the Australian Stock Exchange. There are escrow vesting rules to ensure a balance between both mid and long-term objectives, but ultimately the equity interests that are obtained can be cashed in without having to leave Argyle.

How have things changed under ILH?

They haven’t. Apart from the various reporting and operating obligations required by that of a publicly listed company, Argyle’s management team still remains in control of the firm and it is business as usual.

What does the future hold?

With the benefit of public company shares and the recent introduction of an equity incentive plan, Argyle under ILH is poised for growth.

To further diversify our capabilities, we are continually seeking like-minded practitioners who are looking to excel their business through a non-partnership model. Our outlook is that we are providing an opportunity for real and valuable equity as well as the opportunity to enjoy all the benefits of being an employee and none of the risks of partnership.