When Kate Daly and her former husband split up, matters quickly turned toxic when they both hired divorce lawyers, says Jill Martin Wrenn on the BBC. Hostilities escalated, with “huge amounts of money being spent on things that were irrelevant and not important to the process”, Daly, now in her mid-40s, says.
Her experience prompted her to quit her job as a corporate counsellor to business leaders to set up as a divorce coach to help couples separate “without rancour”. Then, brainstorming with her friend Pip Wilson, Daly (pictured) realised she could go further and help couples divorce without lawyers being involved at all. So Amicable, an app and website that connects couples with counsellors, was launched in 2015.
The company helps divorcing couples to draft and agree on a settlement that they can take to a family law judge in England and Wales for the divorce to be granted. Amicable has helped more than 2,000 couples in this way and claims to be both cheaper and faster than using lawyers, with couples paying as little as £300 for the service.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The London-based firm has now secured around £1m of investment to fund its expansion. Its current annual turnover is around £600,000 and it employs 15 people. Its growth hasn’t been without setbacks, however. Family law lawyers questioned its legality, as did some judges, but the uncertainty around this was laid to rest in January when a High Court judge ruled in Amicable’s favour. Potential investors turned up their noses because they didn’t want to be involved in a business that appears to make divorce easier.
But Amicable isn’t about making breaking up easy. “We’re about people getting through the process in a way that doesn’t add to what is already a difficult situation,” says Daly. “Divorce ultimately is a sad thing, but it’s not a bad thing. People shouldn’t be punished for coming to what no doubt is a really, really difficult decision.”
-
Pension vs property: which option provides the best income for your retirement?News With the cost of a comfortable retirement on the rise, future retirees need to weigh up which strategy offers the best returns. But is a pension a better bet than property?
-
The industry at the heart of global technologyThe semiconductor industry powers key trends such as artificial intelligence, says Rupert Hargreaves
-
UK wages grow at a record paceThe latest UK wages data will add pressure on the BoE to push interest rates even higher.
-
Trapped in a time of zombie governmentIt’s not just companies that are eking out an existence, says Max King. The state is in the twilight zone too.
-
America is in deep denial over debtThe downgrade in America’s credit rating was much criticised by the US government, says Alex Rankine. But was it a long time coming?
-
UK economy avoids stagnation with surprise growthGross domestic product increased by 0.2% in the second quarter and by 0.5% in June
-
Bank of England raises interest rates to 5.25%The Bank has hiked rates from 5% to 5.25%, marking the 14th increase in a row. We explain what it means for savers and homeowners - and whether more rate rises are on the horizon
-
UK wage growth hits a record highStubborn inflation fuels wage growth, hitting a 20-year record high. But unemployment jumps
-
UK inflation remains at 8.7% ‒ what it means for your moneyInflation was unmoved at 8.7% in the 12 months to May. What does this ‘sticky’ rate of inflation mean for your money?
-
VICE bankruptcy: how did it happen?Was the VICE bankruptcy inevitable? We look into how the once multibillion-dollar came crashing down.
