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Frequently Asked Questions
At Compliance Consultant, we work on the simple premise of “Improving our client’s condition“, which to us means that you have to have value over and above the cost involved.
Cost should never be confused with price as there is a distinct difference. Price is the amount of money involved in a transaction. Cost is the complete, long term benefits (or lack of them) plus the initial upheaval and management time involved in the implementation and execution of the project.
Regulatory compliance is not warp engine technology and many firms do a good job at keeping up to date. Unfortunately anyone who is not a full time compliance officer in a firm of any size these days is falling behind on a daily basis. Remedial compliance consultancy work is something we at Compliance Consultant specialise in and excel at.
At Compliance Consultant, we do not have a menu or tariff of charges as we operate on a bespoke and personalised service. We will assess the work involved for any project or exercise and provide a price that is fixed for the project achieving it’s outcomes. All outcomes need to be defined in advance and be measurable. If it takes us 6 weeks, or six months, we don’t ask for any additional money. Equally, if we achieve the outcomes before you initially expect, we do not provide refunds. If your accounts department needs a per diem cost, we can assist them in understanding the benefits of a fixed price contract.
Most of the big firms have consultants of a range of experience, ‘available’ whether they are working for clients or not. Many projects dealt with by the Big 4/5 typically will charge for a Partner, Senior Manager(s), Project Manager(s), Consultants and ‘Associates’ (those new to consulting and can confuse you with slide presentations).
At Compliance Consultant we are different. We also occasionally “white-label” for these consultancies when they don’t have the right skill-sets available.
Big 4/5 consultancy consultants need to be paid when they are idle, so they build that into their pricing model. Compliance Consultant only use qualified and seasoned professional consultants, and we only price them into the project for when they are being used; this means better efficiencies for you, simpler project pricing for us and flexibility all round as we are not charging on a per diem basis (whether they are there or not).
Whilst many ensure that their clients remain FCA compliant, so many are one man bands with no support. Some are large companies that lose the human touch. At Compliance Consultant, we provide fast and effective responses to many companies from adviser’s brokers through to insurance companies and payment service firms.