Law is not the only sector where a few have stolen a march on the many. Those commissioning the lawyers and meeting their charges would need to think twice and to question what, exactly, they were getting for their money – something that does not occur frequently enough at present.

Perhaps the Government should set an example and choose other firms. For that to happen, they have to believe that most expensive does not necessarily mean the highest possible quality, where paying for legal assistance is concerned. Until enough clients are prepared to take their business elsewhere the magic circle will remain. Why? Because in tough times, conservatism has kicked in, and in-house counsel who commission the outside lawyers have sought security in selecting a magic circle member. That has not happened if anything their grip is even stronger. When the financial crisis hit in 2008 and we entered this prolonged age of austerity, the expectation was that the five would release their hold, that other firms would join them. They are paying for the brand, playing safe by going to one of the magic circle rather than choosing an untried, lower-division firm. Clients believe that by not going to one of the five they are somehow missing out, that they are not getting the best available advice. While the five definitely do not operate in concert, a collective, subliminal view is encouraged to take root. They include the Government and public sector organisations, which have long been major users of the charmed quintuplets.

The clients who flock to them, and are prepared to pay so much for their expertise, are responsible. And there’s little point berating them for raising the bar on solicitors’ fees, or indeed for trying to be successful.

The magic circle law