The Co-operative looks set to offer legal advice to the general public from its network of bank branches, as its considers a converstion to an Alternative Business Structure (ABS) later this year, in a move that would make it the first retailer to do so.

The company is looking into the option of forming a one-stop shop for financial and legal services when the Legal Services Act (LSA) comes into force in October this year.

The Co-op has been building its legal operations over a five-year period in anticipation of deregulation of the market, with its legal services arm growing from just three staff to a total 370 since its launch in 2006.

The Co-operative Legal Services – a wholly owned subsidiary of The Co-operative Group – already offers legal advice on personal injury claims, will writing, probate and estate administration, as well as conveyancing and employment law.

Managing director Eddie Ryan commented: "Many customers feel that solicitors communicate with them poorly, use jargon that is confusing and don't understand how services are priced. The shake-up that the LSA offers is absolutely necessary if legal services are to become more accessible to customers."

The ABS model – often dubbed 'Tesco law' – will allow law firms to be owned by non-lawyers or bring in non-lawyers as partners, as well as permitting firms to raise capital by floating on the stock market.

Another company specifically targeting opportunities offered by the LSA is Investec, which at the end of last year launched a professional services finance unit that will invest up to £10m in each law firm looking to restructure as an ABS.