A UK based firm has unveiled plans for an ambitious Australian launch which will see it appeal directly to the market to fill up to 75 lawyer vacancies - and it plans to lure talent with a promise of allowing lawyers to earn up to 75 percent of their billings.

The firm is known as Keystone Law, one of the new generation of alternative model firms which use the “dispersed” model of practice: a network of senior lawyers working remotely but supported by a central office and a common IT platform. Clients can also opt to have Keystone’s lawyers work at their own premises. The firm, which has a full service commercial offering as well as some private client services, has about 140 lawyers and recent expansion has been at a rate of approximately 30 lawyers per annum.

The firm has a policy of only hiring lawyers with at least 10 years experience in the “most respected” law firms and the average duration of experience across the firm is 18 years.

Keystone lawyers are permitted to retain 75 percent of fees which they generate themselves and 65 percent of fees which are referred to them internally. Lawyers referring work to colleagues earn 15 percent of the resulting fee. “It’s a very simple matrix that’s worked across the board. Percentages are self regulating in many ways because they are transparent and fair and of course much higher than a normal law firm structure which would be around 30 percent,” said managing director James Knight.

Keystone uses an hourly rate which is expected to be similar to rates charged by traditional firms operating in the same market segment. Keystone’s client base is largely private owner-managed companies, individuals and SMEs, so the firm is looking to the mid-tier Australian firms for recruits.

In Australia the firm hopes to initially hire 25 senior solicitors in time for commencement of operations in March 2014. Fifty more hires are expected to follow thereafter as the firm ramps up its business. The head office will be in Sydney, although the firm will operate nation-wide.

The firm intends to make a heavy pitch to senior lawyers, offering “a large degree of freedom, flexibility and autonomy combined with a high degree of support and infrastructure”.

The value proposition for clients will not necessarily be reduced hourly rates, but a more efficient service. “We tend not to market dramatically on cost -  it’s the lack of duplication in our structure and giving clients senior lawyers to deal with without juniors and billing targets that gives particularly good value to clients, more so than looking distinctly at the hourly rate. It’s the lack of waste,” said Knight.

Other local firms which used a dispersed or partially dispersed model in Australia include AdventBalance and Bespoke Law.