Legal Finance Companies Descend On Florida Convention To Build Relationships With Trial Lawyers


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Maya Siobhan Redding

Fast Funds was one of several legal funding companies with a booth at the annual convention of Florida’s trial lawyers. Photo by Maya Siobhan Redding.

As Florida trial lawyers gathered last week for an annual meeting featuring an array of trending litigation seminars, another industry set up shop at the convention hall site.

The Florida Justice Association’s annual convention held June 19-22 attracted 41 vendors, including a group of "lawsuit lenders" – businesses that provide cash advances to plaintiffs in exchange for a percentage of any eventual settlement or recovery.

Among the dozens of vendors were six lawsuit lenders, also known as "litigation funders" – Oasis Financial, Client Legal Funding, HMRFunding, LawCash, Momentum Funding and Fast Funds.

Jennifer Arend, marketing manager of Client Legal Funding, said that maintaining strong relationships with attorneys is a constant for the industry.

“We strive to have personal relationships with the attorneys because we don’t do any direct marketing to clients," Arend said. "Our clients are the attorneys. We want to have that one-on-one relationship with them so when something does happen and their clients fund with us or we fund their case, they can call us one-on-one and talk about the case with them."

In spite of the industry’s growth, controversy persists, particularly as litigation lenders defend criticism that plaintiffs who receive funds are forced to pay exuberant interest rates and administrative fees.

The industry doesn’t agree with identifying as lending companies, as the investments are not guaranteed to be paid back in the instance the attorney loses the case.

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Maya Siobhan Redding

Fast Funds was one of several legal funding companies with a booth at the annual convention of Florida’s trial lawyers. Photo by Maya Siobhan Redding.

As Florida trial lawyers gathered last week for an annual meeting featuring an array of trending litigation seminars, another industry set up shop at the convention hall site.

The Florida Justice Association’s annual convention held June 19-22 attracted 41 vendors, including a group of “lawsuit lenders” – businesses that provide cash advances to plaintiffs in exchange for a percentage of any eventual settlement or recovery.

Among the dozens of vendors were six lawsuit lenders, also known as “litigation funders” – Oasis Financial, Client Legal Funding, HMRFunding, LawCash, Momentum Funding and Fast Funds.

Jennifer Arend, marketing manager of Client Legal Funding, said that maintaining strong relationships with attorneys is a constant for the industry.

“We strive to have personal relationships with the attorneys because we don’t do any direct marketing to clients,” Arend said. “Our clients are the attorneys. We want to have that one-on-one relationship with them so when something does happen and their clients fund with us or we fund their case, they can call us one-on-one and talk about the case with them.”

In spite of the industry’s growth, controversy persists, particularly as litigation lenders defend criticism that plaintiffs who receive funds are forced to pay exuberant interest rates and administrative fees.

The industry doesn’t agree with identifying as lending companies, as the investments are not guaranteed to be paid back in the instance the attorney loses the case.

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