Innovate Legal Online

Funding & Financing a Law Firm

Join us for episode two of our year-long The Making of a Law Firm Series. During this interactive event we were joined by financial planning expert Paul McCluskey for some top tips on funding and financing your law firm.

Whether you are just starting a legal business or entering a period of growth it is essential to have a plan for funding that growth.

Join Clio’s UK Community Manager, Geraldine O’Reilly, for the second episode of The Making of a Law Firm Series: Funding & Financing a Law Firm. 

Geraldine was rejoined by two of our leaders, Elena Manukyan and Natalie Foster, along with financial planning and operation risk expert Paul McCluskey from Gemstone Legal. Together the panellists discuss the funding options available for law firms and how to successfully manage those finances.

Topics up for discussion include:

  • Choosing a banking/finance partner for your firm
  • Financing your firm and how to pay for it
  • Establishing effective financial controls
  • Getting the best returns on client monies

The two leaders rejoining us for this event and sharing their experiences are:

  • Elena Manukyan, Partner at The Injury Solicitor
  • Natalie Foster, Founder at Foster Clay Law

Session duration: 60 minutes 

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Paul McCluskey

Founder and Managing Director

Gemstone Legal

Former UK Head of Professional Practices at Bank of Scotland and Lloyds Bank, Paul has worked with law firms within all three UK law society jurisdictions. Having seen banks shift away from legal sector specialism, Paul setup Gemstone Legal to offer firms a trusted, independent approach to source finance and improve returns on client monies. Paul is also a Law Society approved Lexcel assessor and consultant and combines his experience to help legal firms to improve their approach to finance and operational risk management. Paul speaks and writes regularly on financial factors impacting the UK legal sector.

Natalie Foster
Natalie Foster


Foster Clay Law

Natalie Foster co-founded Foster Clay in 2020 with the vision to have a friendly, forward-thinking law firm that provides excellent professional service to individuals and businesses both locally and nationally. Natalie saw a gap in the market for a firm offering digital legal services.

Elena Manukyan
Elena Manukyan


The Injury Solicitor

In 2020, after seeing that legal services could be delivered from almost anywhere, Elena decided to launch her own firm. Specialising in personal injury law and being a small firm, Elena is able to offer clients a personalised service which you simply don’t get from large firms in the UK.


Geraldine O'Reilly

UK and Ireland Community Manager


Having had nearly a decade of experience in tech and the legal field, Geraldine has a deep understanding of the needs of businesses and lawyers. Geraldine leads Clio’s European events and community strategy and has spoken and moderated on many occasions about the future of legal, law firm growth, and cloud technology and security. Geraldine is also passionate about helping firms grow.

Join and participate in our Making of a Law Firm Series throughout 2021

This event is part of a year-long series of events The Making of a Law Firm Series, featuring four law firm founders who are building legal businesses that were established in 2020 during a global crisis.

Our 4 leaders are:

Kim Cross, Partner at Vine Law
Natalie Foster, Founder at Foster Clay Law
Elena Manukyan, Partner at The Injury Solicitor
Alistair Wells, Founder and Director at Tend Legal

Together we will tackle questions such as:

How to build a pipeline of clients
How to manage your firm’s cash flow
What technology you need at your firm
How to attract, hire, and keep top talent
How to renew your PII and get the best deal
How to create a strong brand
And much more

If you are interested in joining as an expert, or if you want to suggest a topic to cover, please email [email protected]