Tom Ligeti founded Ligeti Partners in 1980 and built the Firm from the ground up.
After retiring from a lifetime in the industry in 2017, we spoke to Tom about his career and any advice he had for legal professionals in the insurance industry, particularly those at the beginning of their careers.
How did you decide to start Ligeti Partners?
I was a second-year solicitor. My employer misled me regarding career prospects and so I left and started my own practice. I had about 30 files (all my clients), including a small insurance company.
I worked out of my flat for about a month until I was able to lease a small office in the city.
What made you go down the insurance route?
There was a fast-moving trend towards specialisation in the 1980’s. The law was becoming more complex which made it increasingly difficult to run a General practice. In 1989/1990, I made the decision to specialise in Insurance work (liability, motor, property & professional indemnity). I settled on Insurance because I liked the work.
What are you most proud of with Ligeti Partners?
I like to think I gave a lot of people a start to their career and helped them on their career journey.
What’s the most important risk you took and why?
You take risks every day when running a business. There is no one particular risk which stands out.
Each time, it is a matter of weighing up the pros and cons and then making a decision which you think is in the best interest of the Practice.
What advice would you give to lawyers entering the legal industry?
Be patient.
Give yourself a couple of years to work out whether private practice is for you and what areas of work suit you best.
What important practice tips do you have for young lawyers?
- Communication – be courteous and professional;
- File Management – be proactive;
- Advice to client – never sit on the fence. Give them your opinion (on the balance of probabilities);
- Marketing – the best form of marketing is to do a great job on the file in front of you;
- Ethical conduct – always be honest and remember, your overriding duty is to the Court;
- Mistakes – we all make them. Never try to hide a mistake – fess up, apologise, correct the mistake, learn from it, and move on.
