Client Money Handling

Question 1

If a client was prepared to pay you in advance for services you were providing, how would you ensure this was dealt with?

Answer 1

• Set up a separate client account (properly named and clearly identifiable)
• Provide the client with a statement of account.
• Inform and agree drawdowns.
• Prior to drawing monies send a statement of how much is to be withdrawn and what services and associated fees are made up of, send updated statements of account
• Once complete, show a final statement, ensure everything is complete and transparent.