Wealth management has never been one of Obiter’s preoccupations (a jam jar for loose copper generally sufficing), but it seems the coming thing in the legal sector. City firm Mishcon de Reya last week revealed plans to branch out into offering ‘private bank relationship management advice’, along with tax advice and concierge services. Obiter always thought a concierge was a grumpy lady who lived in the basement and complained about rubbish bins, but perhaps when you’re worth £50m (the minimum needed to enjoy Mishcon’s personal service) there’s a bit more to it.

It’s not only London firms getting in on the act. West Country firm Battens Solicitors last week launched its new wealth management department, which it says was created in response to requests from clients looking for the convenience of dealing with their legal and financial services under one roof. It is believed to be the only legal and financial service operating in the locality.

David Batten, head of the wealth management team, says: ‘Unlike many other firms whose advice ends at the conclusion of a settlement, Battens Wealth Management strives to support and assist you at every stage of your life.’

Guest of honour at the launch was Yeovil MP David Laws. Laws’ approach to wealth management made headlines of course when he served as chief secretary to the Treasury following the 2010 election.