Thanks to @StephenMayson I am reminded of the legal regulators' prospective task list. From the regulatory point of view, it may be very sensible to remove or restrict a solicitor's ability to handle client money at all. One wonders what effect this may have on the brand of "solicitor", if you take the view that one of the key components of that brand is the trustiworthiness implied by the ability to look after not only a client's secrets, but their assets too. The Singapore and South African legal industries may have a different view!