However, she recognizes that many young lawyers don’t have the 20 years of experience that she has to make it easier to work independently and build a client base. Still, for some, Hendrickson says, it may be an alternative to working in a large firm, for government or as in-house counsel, so it is “some-thing that should be considered.”
BAX Securities Law provides what Hendrickson calls “bespoke” corporate finance, securities, and financial services regulatory advice. It has a focus on fintech, P2P, crowdfunding, securities and financial services registrants, crypto-currency and real estate syndication. The firm’s clients are public and private companies from across Canada.
Hendrickson says many of her clients don’t necessarily have experience in the capital markets, but they have an idea they want to pursue. “I can sit there and work with them and assist them,” she says, “playing that adviser role” and getting the idea off the ground and through the regulatory regime in Canada.
For the most part, Hendrickson says, she can provide these services on her own and, if necessary, can bring in a tax lawyer, an IP lawyer or a commercial real estate lawyer, for example, if one is needed. As for the impact of COVID-19 on the firm’s business, Hendrickson says much of it relies on the state of the capital markets. “It’s like a tap on, tap off sort of thing,” she says, adding that 2019 was a “crazy busy” time for her, so this year is slower in comparison. However, clients with ideas that were postponed at the start of the pandemic are starting to come back, Hendrickson says, but they are “holding their breath” waiting for what the fall will bring. The year 2020 won’t be a great year, but she hopes 2021 will be better. “We’re in uncharted territory now.”
Hendrickson says she has thought about expanding her firm but feels that an expansion would force her to focus too much on the business part of running a law practice. “I love practising law and I want to keep on practising it for as long as I feel comfortable doing it.”