It’s rare for Chambers & Partners to add a new Guide. To make it easier for law firms to succeed with the HNW Guide,  LexTrack has these Top Tips for HNW based on LexTrack CEO Marsha Redmon‘s interview with the HNW’s editor Simon Christian.

Which lawyers should submit to the Chambers HNW Guide?

The High Net Worth Guide is designed to be an all-encompassing resource for high net worth individuals and their trusted advisors. Editor Simon Christian says, “Chambers HNW is the single source, ideally, for all of the major categories that a high net worth individual might need, broken down by jurisdiction and, in the case of the US, by state and region. Typically, high net worth individuals will have one to two trusted advisors who, when necessary, will bring in specialists, such as attorneys.”

Who can lawyers use as referees for HNW when they can’t name their clients?

“When selecting referees it is advisable to choose the client’s trusted advisors, CPAs, financial services professionals, banks or fiduciaries,“ says Christian. These professionals often know the attorney’s work across multiple clients typically.  Other examples are instances where a law firm has worked with another law firm over the course of a significant matter. For example, a London law firm might list a Swiss law firm as a referee or a Swiss law firm might use offshore lawyers as a referee. Christian reminds us that “the referees need to be independent sources who can speak to the lawyer’s skills and attributes” and that is definitely a broader group than clients only.

How can firms submit matters for HNW when they can’t name their clients?

Christian recommends sending anonymous submissions, for example calling the client by initials or other identifier that does not reveal the client. For example, “ABC, a wealthy family from North Carolina.” The client’s name is one of the least useful details in the submission according to Christian. What is important to include in the matters is “describing the work, the difficulties, and the significance of what was done.”

Which HNW categories are for lawyers?

Overall the practice area most relevant to law firms is Private Wealth Law.

In the US, specialist categories that pertain to law firms include (in limited locations):

  • Defamation/Reputation Management
  • Family Matrimonial/High Net Worth
  • Private Wealth Disputes

For Chambers UK submissions, categories that are also relevant to the HNW guide include:

  • Defamation
  • Family Matrimonial/High Net Worth
  • Financial Crime
  • Immigration: High Net Worth Individuals

It is not necessary to send a separate HNW submission if you submit to Chambers UK. However, for example, if your Chambers UK submission is for general defamation, you can then send a very focused submission for high net worth defamation work if desired.

The Global-wide practice areas pertinent to law firms includes:

  • Yachts & Superyachts
  • Private Aircraft

The full list of HNW guide practice areas and their definitions can be found HERE.

Questions about HNW?

A good rule of thumb: “When in doubt, ask Simon!”

Finally, the next HNW Guide deadline is October 3, so get your submissions ready.

Are you bogged down and stressed out by too many directory submissions, matters, and referees?  

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