Client Care Flashcards
In your view, what is meant by the term ‘client care’?
• A continuous process of understanding client’s requirements, suggestions, complaints, etc., and analysing to enhance service delivery. This can include:
• Understanding client needs & requirements.
• Complaint handling procedures (CHPs).
• Quality assurance (QA) procedures.
• Key performance indicators (KPIs).
• Client satisfaction questionnaires.
• Understanding and acting in the client’s best interest.
• Client feedback meetings.
• Lessons learned workshops.
• Identifying the appropriate scope of service for the commission.
• Defining the client brief
Are you aware of any RICS guidance in association with complaints handling?
Complaints handling - 1st edition, July 2016. [Note - This document was reissued in October 2023 as an RICS professional standard.]
How can complaints be avoided in the first instance?
• Setting out clear expectations in the scope of service and appointment documents.
• Communicating clearly and effectively with the client and other project stakeholders.
• Putting everything in writing to ensure there is always documented evidence of conversations and agreements (for example, meeting minutes).
• Follow company procedures and policies (including quality assurance processes).
• Follow RICS standards, professional statements, and guidance
Has RICS published any information on handling clients’ money?
Client Money Handling — Professional Standard 1st edition, October 2019.
[Note — This document was reissued in October 2022 as a professional standard.]
What are the objectives of the Client Money Handling professional standard?
• The professional standard provides clear rules for RICS regulated firms and members to have the appropriate controls and procedures to keep client money safe.
• It provides confidence to clients and consumers that RICS regulated firms are operating to high professional standards
What are some of the key requirements identified in the Client Money Handling professional standard?
• Client account requirements.
• Appropriate accounting controls.
• The information that firms must provide to clients.
• How to handle client money including rules for managing any unidentified funds
What are some examples of the key requirements identified in the Client Money Handling professional standard for firms?
2.2.1 Holding client money
In relation to holding client money, RICS-regulated firms must:
* hold all client money in a client money account over which the RICS-regulated firm has exclusive control at a bank or building society authorised by the relevant banking regulatory body for the jurisdiction
- ensure that a client money account does not contain any sums other than the whole or any part of client money paid into it, or any sums needed to replace money that has been withdrawn from the account by error, with accrued interest on such amounts.
2.2.2 Information to clients
RICS-regulated firms must provide the following information to clients in writing:
- confirmation that client money will be held in a client money account including bank
- account details, that the RICS-regulated firm has exclusive control over the client money
- and whether the account is in the name of the regulated firm, a wholly owned subsidiary
2.2.3 Receipts of client money
In relation to receipts of client money, RICS-regulated firms must:
- ensure all client money received is paid into a client money account promptly
- ensure that when mixed monies are received the receipt is paid into a client money account and the office money is transferred into the office account promptly
What are some examples of the key requirements identified in the Client Money Handling professional standard for members?
RICS members must:
- ensure compliance with all anti-money laundering legislation, rules and regulations for all receipts of client money
- ensure compliance with the mandatory requirements of the latest edition of RICS’ Countering bribery and corruption, money laundering and terrorist financing
- follow all procedures for handling client money at the firm where they work
- not override any controls in place to protect client money
- make appropriate disclosures to a senior member of the firm or a regulator immediately if they become aware of any risk of or actual misappropriation of client money and to keep a written record of that disclosure.
What is the definition of ‘client money’ as noted in the professional standard?
Money of any currency (whether in the form of cash, cheque, draft, or electronic transfer) that:
• An RICS-regulated firm holds for or receives on behalf of another person.
• Is not immediately due and payable on demand to the RICS-regulated firm for its own account
What sort of information would you expect to see in a client’s brief for a professional appointment?
• Details of the project and professional services required.
• Insurances required.
• Terms of appointment.
• Expected duration of the appointment.
• Client procedures and policies.
• Key drivers for success
What information might be included in a consultant’s fee proposal for professional services?
Scope of Services
• Terms of appointment.
• Basis of pricing and fee.
• Information on the proposed team including CVs and qualifications.
• Project details.
• Timescales.
• Insurances.
• Exclusions.
• Assumptions (programme for example).
• Typical exclusions:
• VAT.
• Disbursements.
• Dealing with claims (fees are usually extra over for this service).
Once you and your client verbally agree the services to be provided, what would you do next?
Follow up in writing to confirm terms & conditions, fee, and scope of service.
What is a consultant appointment document?
• Appointment documents are terms and conditions for services being provided by a consultant to the client.
• RICS has a standard form of consultant appointment if the business does not have their own
How would you go about calculating professional fees for a new commission?
• Understand client and project requirements, including project scope, key details, budget, and scope of service.
• Identify the seniority of resources and the number of people required to deliver the service.
• Assess the duration required to complete the activities identified in the scope of service.
• Apply a daily or hourly rate against each activity.
• Review the total fee as a percentage against the project budget (this can be used as a sense check
Assuming you put together a fee proposal; a couple of months into the project, you realise you have underestimated the resource needed to deliver, would you go back to the client and ask for more fees?
- If the project requirements (for example, services, scope, project budget) had increased, then it would be reasonable for the fees to increase also.
- If the scope remained the same, it is likely to be a mistake, and I would deal with the situation and get it right next time.
- I would ensure the level of service originally offered was not reduced or diluted because the original fee calculation was underestimated
Could there be any issues (from a client perspective) with all professional services being delivered by one consultancy practice?
- Individuals may find it harder to critique or challenge colleagues from the same company.
- There may be a perceived or actual conflict of interest — potential errors or omissions may be handled in a different manner.
- There are advantages too, such as efficiency due to working under the same policies, procedures, core values, etc.
On what grounds might a consultant be due additional fees?
- Dealing with contractor insolvency.
- Delay to the programme (for example, the contractor failing to complete on time).
- Increased scope of service.
- Changes to the project brief.
- Increased project budget
