Nota's financial management platform will help lawyers manage
trust accounts and avoid costly mistakes
TALLAHASSEE, Fla. and BUFFALO, N.Y., June 26,
2023 /PRNewswire/ -- Today, The Florida Bar announced
that Nota – a financial platform that helps small law firms and
solo lawyers manage trust accounts and adhere to accounting
requirements – has been added to The Florida Bar's Member Benefits
lineup. Bar members are expected to be able to use Nota beginning
in September 2023.
Nota's technology addresses the need for a simplified, seamless,
and efficient trust accounting platform – especially among solo
practitioners and small firms.
Trust account maintenance and compliance is critically
important. Lawyers who agree to hold money in trust have an ethical
obligation to account for every penny as long as the funds remain
in their possession. Commingling of funds, poor ledger management,
and even basic accounting errors can result in client complaints,
audits, and disciplinary action that could lead to suspension or
disbarment. And while most attorneys diligently comply with Rules
Regulating Trust Accounts (Chapter 5), trust accounting violations
have ranked among the top three most common disciplinary complaints
over the past three years and is on track to be the top complaint
in 2022-2023.
Nota's platform provides attorneys with total visibility into
their bank accounts along with full integration into law firm
workflows. The platform, designed specifically for attorneys, helps
to streamline the exacting management of client IOTA accounts, and
integrates easily with major practice management, legal payment,
and accounting platforms. Nota seamlessly integrates with client
accounts across multiple financial institutions or as a standalone
trust accounting solution.
"Florida's legal community
continues to see substantial growth from solo and small firm
practitioners, who now represent nearly 70% of Florida attorneys," said Scott Westheimer, president of The Florida Bar.
"With Nota, our members have access – at no cost – to the latest in
trust accounting technology and a provider who can help them focus
on the growth and continued success of their practice."
"Nota was designed to help smaller legal practitioners easily
manage the complex and onerous process of trust reconciliation so
they can focus on what's important—their clients," said
Paul Garibian, CEO, Nota. "Core to
Nota's platform is providing small businesses with access to the
banking and recordkeeping services they need to remain compliant
and drive growth."
For a preview of the platform and to pre-register for access,
please visit www.trustnota.com/TheFloridaBar.
ABOUT NOTA
Nota is a fintech solution that helps lawyers quickly and easily
track and manage client funds in compliance with state
requirements. Powered by M&T Bank, Nota is built for attorneys
and allows them to organize and reconcile client funds using
information directly from their IOLA/IOLTA accounts. For more
information, visit www.trustnota.com/TheFloridaBar.
ABOUT THE FLORIDA
BAR
Founded in 1949, The Florida Bar serves the legal profession for
the protection and benefit of both the public and all Florida lawyers. As one of the nation's
largest mandatory bars, The Florida Bar fosters and upholds a high
standard of integrity and competence within Florida's legal profession as an official arm
of the Florida Supreme Court. To learn more,
visit www.FloridaBar.org.
*This offer is only available to Active Members in good standing
of The Florida Bar.
*Nota Standard Terms and Conditions Apply
Media Contacts:
Frank Lentini, Nota
(929) 651-0447 / flentini@mtb.com
Jennifer Krell Davis, The Florida
Bar
(850) 561-5670 / jkrelldavis@floridabar.org
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SOURCE M&T Bank Corporation