Client Care Flashcards
What is client care?
Having clients best interests at the focus, providing appropriate service and satisfying their needs
How to provide client care?
Professionalism
Competence
Punctuality
Trust
Reliability
Presentation
Communication
Review
KPIs
Feedback
Why is client care important?
Repeat business
Good testimonials
Recommendations
Reduce negligence claims
What is client performance feedback?
Gathering feedback during/after
Independent
Set standards
Identify improvement
Ensures satisfaction
Provides future work
Review every 3-6 months
How to identify the clients needs?
Account planning sessions
Assess an individual merit
Discussions
Identify improvements
Review mistakes
What is a client brief?
Foundation of project
Objectives and requirements
When should you decline new work?
If conflict of interest
Not in the clients best interest
Lack of resources
Lack of skill
Unlawful
What to consider when preparing a fee bid?
Client requirements
Risks
Levels of sign off
What does a fee bid include?
Executive summary
Clients needs
Issues
Communication
Experience
Conditions
Methodology
Organogram
Fee
CV
References
Sub consultants
Quality assurance
How to limit the risk if unstable?
Review accounts
Credit check
Research
How to handle a client request for lower fees?
Provide a price based on service
Reduce works in line with fee
How to calculate a client fee?
Review workload
Time, staff x hourly rate + overheads + profit
Techniques for obtaining client feedback?
Reviews
Survey
One to one meetings
Process for complaints handling?
- Report to senior member of firm
- Report to independent redress
Timescales for complaints handling?
Acknowledge in 7 days
Full response in 28 days
Refer to redress if unresolved
RICS information re Complaints
GN - Complaints handling July 2016
How to identify the needs of a client?
Ask questions
Complete a checklist
How to establish trust?
Be transparent
Be honest
Know objectives
Act in competence
Be professional
Provide high service (rule 3)
How to receive repeat business?
Provide a high level of service
Act on feedback
Deal with complaints promptly
Network
Keep contact
What are the PII minimum limit of indemnity?
Firms turnover. Minimum limit of inde
100k or less. 250k
100,001 - 200k. 500k
200,001 +. 1m
What is the maximum level of uninsured excess?
Limit. Max excess
500k. 2.5% or 10k (greater of)
500k+. 2.5% of sum insured
What is run off cover?
Cover in the period following a firm ceasing to trade
Limit of 1m
Period of 6 years
Hart v Large
Recommend further investigation if needed
Report areas not inspected
Be clear and advise client re instruction
Pre instruction checks:
Ensure level of competence, knowledge and skill
Check conflict of interests
Anti money laundering checks
Ensure adequate PII
How to deal with a complaint?
Log the complaint
Raise with a line manager
Not resolves - redress
PII provider details
RICS publishes a list of approved providers
How to deal with client payment in advance of services?
Separate client account clearly identifiable and named
Provide client statement of account
Inform and agree drawdowns
Prior to drawing down, send a statement outlining the amount, services, fees and updated statement
Grounds for additional fees?
Extended duration
Increased attendance
Scope of works changed
Location/travel arrangement change
Frequency of project has been adjusted
How would you approach extra fees?
Meeting with reasoning
Explaining benefits
Offer compromise
Info clearly presented and transparent
Asked to reduce fees to win a bid?
Unfair competition
Lacks respect and integrity
Unsustainable
Devalue the profession
Reduce scope of works to reduce bid
Measure to avoid PI claims?
Keep records
Record advice
Proper ToE, scope for services
Not advise outside specialism
Avoid poor management
Process to handling client money?
Client must have access
Money in separate account and identifiable ‘client’
Interest agreed with client
Not be overdrawn
Keep secure
Competent staff to process
Drawdowns communicated
What is client money protection scheme?
Run by RICS
Member of public to be reimbursed for direct loss of funds
Provided through RICS insurance policy
RICS CMP splits into - general client money & residential agency activity
Examples of excellent client care?
Feedback received
Surveys
What is a complaint?
Situation unsatisfactory
Formally in writing or verbally
Notify PII
Proceeding with CoI?
Check client understanding
Lettering of instruction
Agree working procedure
Keep updated with risk
What is Client brief?
Foundation of initial project
Objectives and operational requirements
Detail to execute the spec
What is duty of acre?
Other not suffer harm or loss due to breach of contractual obligations or Tort of negligence
What is a KPI?
Measure to demonstrate how effectively a company achieves objectives
Evaluate success
High level = overall performance
Low level = sales, marketing, HR
Examples of KPIs
Defects/snags
Over/under spend
Timescales vs programme
Profitability
Feedback
H&S incidents
How to calculate professional fees?
Understand client objectives - scope of services, project particulars
Confirm meetings etc
Assess duration
Apply daily/hourly rate to team
Not enough fees to cover works?
Lower level of service
Investigate why fees not in line
If an error, ensure doesn’t happen again
If its due to extra service provided, detail what and claim additional fees
Steps after fees agreed verbally?
Formalise agreement with letter, scope of terms and ToE
Formal appointment
Conflict of interest check
Check insurance in place
Friend asked for advice?
Not without PI insurance
Contact during work hours
Not comfortable = find a surveyor scheme
Adhere to rules of conduct
Procedures as a new business to ensure good client care?
Process for formalising ToE
Set up procedures for feedback
Strategy for development of business
Procedures for confidentially
Report to client in agreed format
Client complaint
Call to advise receipt
Issue complaints handling procedure
Report to complaints handler
Notify PII
Meet to feedback and address concern
Not resolved = redress
Client v customer
Customer - one time transaction
Client - ongoing relationship
Internal quality management procedures?
Review process
Format of documentation
Authorisation process
File storage systems
Absence of staff procedure
Audits
Lessons learned
What is client money
Money of any currency transferred
Held on behalf of another person or company
What does beneficial ownership mean in relation to new clients?
Person who owns or controls legal defined minimum number of shares or voting rights of entity
How to check a beneficial owner?
Certificate of incorporation
Annual return
How to handle a complaint over the phone?
Receiver repeat what is heard to show listening and understanding. Record details promptly and accurately
Example of business to business ADR provider approved by RICS for UK based firms?
RICS dispute resolution service
Last standing client asks you yo care out work outside your competence. How would you handle this?
Decline, define scope of competence and PII
What info helps measure and analyse a clients needs?
Scope of works
Timescales
Geographic location
Staff resources
PII requirements
Can you deliver
Example of KPI to measure client satisfaction?
Work on time
Work to scope
Work to budget
Reworks required
Which rule of conduct relates to good quality diligent service and an example?
Rule 3
Understand client needs and objectives before accepting work
Members and firms agree scope of works include timescale and limitations
What is ISO 9001?
2015 - international standard for quality management
Concept to deliver client care
Countering bribery, corruption, money laundering and terrorist financing
Effective sept 2019
Professional standard
Provides mandatory requirements
How to apply bribery, corruption, money laundering, money laundering and terrorist financing to bribery?
Not accept anything constitutes a bribe
Report activity
How to apply bribery, corruption, money laundering, money laundering and terrorist financing to money laundering and terrorist financing?
Firms - not facilitate, systems tot comply with law, report suspicions, understand client and purpose of transaction, verify ID
Members - not facilitate, report suspicions
What should firms do to counter bribery?
Prepare a policy including risk assessment
Appropriate governance
Implement a gift register
Provide instructions to staff re preventing bribery
Appoint contactable person
Publish code of behaviour
Due diligence on third parties
What should members do to counter bribery?
Declare items - gifts, hospitality
Attend relevant CPD
Familiarise with company policy
How should firms hand money laundering and terrorist financing?
Written policy to identify - high risk situations, process to follow,
Appropriate governance
Staff training
Keep reports of suspicions
Identify beneficial owner
Appoint senior person responsible for
How should members act in relation to money laundering and terrorist financing?
Comply with company policy
Continue training offered
Keep reports of suspicions
