The Florida Bar to Provide Members with Access to Nota's Interest on Trust Accounts (IOTA) Management Platform at No Cost
Nota's financial management platform will help lawyers manage trust accounts and avoid costly mistakes
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
"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
For a preview of the platform and to pre-register for access, please visit www.trustnota.com/TheFloridaBar.
Nota is a fintech solution that helps lawyers quickly and easily track and manage client funds in compliance with state requirements. Powered by
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