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Client Money Modernisation: The Honest Conversation

Abstract

How law firms manage client money is changing. SRA rule changes, rising fraud risk, and the operational cost of running a client account are pushing firms to rethink a model that has been in place for decades.

Client money is no longer just a compliance issue - it's a strategic one. In this panel discussion, Shieldpay CEO Sophie Condie brings together two practitioners living this challenge from different angles: the COO of an AI native conveyancing law firm, and the Chief Commercial Officer and corporate partner of a leading platform law firm.

No theory. No vendor pitching. Just an honest conversation about where the profession is heading and what it takes to get there.

What's covered

  • What's driving the shift away from traditional client accounts - from a bank, an operator, and a commercial partner's perspective

  • The real regulatory and fraud risk in continuing to hold client money in-house

  • What firms who have already modernised have learned along the way

  • The honest case against full outsourcing - and when it makes sense anyway

  • What a law firm that's got this right actually looks like in practice

  • Why client money is now a board-level conversation - operational resilience, governance, and fraud risk beyond compliance
Who should watch:
CFOs, COFAs, COLPs, Senior Partners, Operational Heads at UK law firms.

The panel

Sophie convenes two experts on client money: a law firm COO, and a Chief Commercial Officer and corporate partner.

Sophie Headshot - transparent
Sophie Condie - CEO, Shieldpay (host)

Sophie Condie is CEO of Shieldpay, the FCA-regulated payments platform trusted by over 40 of the UK's top 100 law firms to verify, hold and disburse client funds.

With a background spanning RBS, Barclays Corporate Banking, and Form3, she joined Shieldpay as Operations Director, became COO in 2022, and was appointed CEO in 2024. 
Sue Headshot
Sue Bence - Chief Operating Officer, Farringdon

Sue Bence is Chief Operating Officer at Farringdon, an AI-native law firm launched in May 2026.

A dual-qualified solicitor and business transformation leader, Sue has spent her career scaling and integrating legal and professional services firms across listed, PE-backed, and partnership models - including market-first ABS structures and private equity partnerships.
Martin F Headshot
Martin Finnegan - Chief Commercial Officer, Punter Southall Law

Martin Finnegan is Chief Commercial Officer of Punter Southall Law, the only platform law firm backed by a large financial services group.

Formerly a partner at Nabarro LLP (now CMS), he co-chaired the Equity Capital Markets Group before founding and leading a corporate boutique for nine years.


Watch the recording

The full panel discussion is available to watch on demand below. Runtime: approximately 60 minutes.

Indigo Business Woman - round corners

Want to talk about what this means for your firm?

Shieldpay provides FCA-regulated third-party managed accounts for UK law firms - trusted by 40+ of the UK's top 100 firms to verify, hold and disburse client funds.

If this conversation has raised questions about how client money works at your firm, our team of client money specialists works with law firms every day on exactly these challenges. Whether you're exploring TPMAs for the first time or looking to move away from a traditional client account, we're happy to talk it through - no pressure, no pitch.

Speak to a payments expert