TSM Advisory was founded on the strong belief that companies of all sizes should have access to exceptional business support. Our approach delivers world class professional service outcomes by combining legal and commercial advisory skills.
Penny Brereton, a commercial consultant and Pip Murphy, a former partner of a global law firm, have come together to form TSM Advisory. Together they have established a model that delivers comprehensive and financially accessible business support by combining their skills within a flat management structure.
TSM Advisory implements its model by working collaboratively with its clients to identify those tasks that can be best managed by our commercial consultants, solicitors or both.
Solicitor or Consultant?
Many businesses engage solicitors as a readily available resource, often to undertake work more suited to commercial consultants.
A solicitor specialises in the drafting of legal documents, interpretation of legislation and the preparation of matters proceeding to court. While experts in their field, solicitors often find themselves unable to offer advice on such matters as business operations, internal reporting structures, financial modelling or strategic positioning during tender negotiations.
TSM Advisory offers the ability to synthesise the complementary but separate roles of consultants and qualified solicitors to deliver a comprehensive package of business support to meet your business needs.
TSM Advisory offers exceptional business support for the following areas:
Risk Management Framework Reviews
Internal Compliance Reviews Including Reporting Structures
Business Planning and Strategy
Legal support without the layers
TSM Advisory’s model provides you with an experienced solicitor who is supported by a former Partner of a global law firm as well as best practice in-house project management methodology. This allows TSM Advisory to remove the multiple layers of billing that exists in traditional law firms and provide accessible and cost effective legal support, no matter the size of your business.
This structure has been established in response to growing global concerns from the business community about the value offered from traditional law firm billing models, as well as criticism from the judiciary here in Australia.
As Rares J of the Federal Court of Australia recently put it in Armstrong v Piscopo:
“One of the significant concerns in our society is the cost of access to justice. It is not surprising that individuals and small businesses would find it difficult to obtain access to justice where four lawyers at a solicitor’s [firm are] each charging [between $605 and $310 per hour] for looking at one another’s drafts, documents or other communications...
In my opinion, it is time that the [legal] profession recognised that costs should be kept to a minimum. Having five lawyers looking at, for example, the drafting of a pleading or submission is a matter that...bespeaks a failure to address a client’s best interest...in minimising costs, and involves a degree of waste and unnecessary duplication of effort that I cannot comprehend."
TSM’s structure and approach to case management benefits clients by maximising return on legal spend in the following ways: