The number of high net worth individuals in the West Midlands continues to be extensive despite five years of economic challenges, according to a specialist lawyer.
And as long as there are wealthy people around they are always going to need advice, stresses former Cobbetts/DWF director Terry Cooper who has joined Birmingham law firm Emms Gilmore Liberson to spearhead the development of its private client service.
He said: “Land does not just disappear so there will always be landowners. Businesses may not be worth quite as much as before the financial crash but many continue to flourish.
“And now we appear over the worst and people are feeling more confident, the need for advice will be even more relevant.”
Mr Cooper, who has now taken up his new role, said there was scope in the marketplace for the Emms Gilmore Liberson private client offering because the number of other law firms providing a quality service to high networth individuals was very small.
He added: “All our lawyers have national firm backgrounds and are of that quality, but we are not some ponderous entity dependent on mega fees. We are niche and flexible. We can do whatever the client wants.”
His arrival completes the circle that began when he was recruited to Cobbetts by former Lee Crowder managing partner Stephen Gilmore in 2005.
Former Lee Crowder colleagues Stephen Gilmore, Greg Emms and Martyn Liberson founded Emms Gilmore Liberson in May 2011 – a new practice but built on solid and historic foundations.
Mr Gilmore said: “We had for some time been looking for a heavy-hitting private client lawyer to build our service to rival those of other firms in the city and Terry Cooper exactly fits the bill. I have worked with him both as a colleague and as a client and we could not have found a better lawyer to undertake this role.
“He is mentioned with distinction in both industry bibles Legal 500 and Chambers, described in the former as ‘very knowledgeable’ and in the latter as a tax and estate planning specialist who acts for a range of clients, including traditional landowners and business owners.
“He has hit the ground running and we are very keen to build this side of the firm.”
Mr Cooper has joined as a director and Head of Private Client services.
Coventry-born and bred, prior to his time at Cobbetts, he worked at Pinsents and then Putsmans.