Reference no: EM132623645

PGP Financial Management Group Client Engagement Policy and Procedure ( Extract )

General Policy

PGP Financial Management Group is committed to provide consistent standards of service including high level client engagement to best serve all clients' needs and concerns and to maintain high our client base.

1. New Client Engagement processes
2. Prior to meeting with the client a consultant must need a pre-interview checklist.
3. The checklist should include the following items:

1. Pre-client engagement relevant questions to gain an insight on the client's current and future operational needs.

2. A possible engagement timeline to provide a potential client with a response time frame. The time line should include date of the first meeting, date to send out the engagement letter and the final date on which advice will be sent to client.

All documents are to be typed using Arial font 11 and should have:

A. Client Name on the top of the page, and

B. PGP Financial Management Group and name of the Business Consultant and the date document was prepared on the left-hand footer.

Scenario:

You have been recently appointed Business Consultant at PGP Financial management Group. In your new role you are the first point of contact for Finance clients.

Joe Leaks runs medium scale plumbing supplies business in Brisbane. Joe is planning on expanding his plumbing supplies operations to keep up with the increase in new orders.

Joe is planning to buy a new motor vehicle, costing $44000 incl GST, new equipment, costing $29000 incl GST and he will also need to expand his workshop and make improvements to the building at an estimated cost of $75000 incl GST.

Task:

Following PGP Financial Management Group 's policies and procedures above,

Question 1: Prepare a list of questions you would ask Joe Leaks to collect all the data you might need to be able to provide him with some advice on financing options and costs for his business expansion.

Ensure questions allow you to understand his expectations, goals and objectives as well as specific business and operational requirements e.g. staff, hours to work and any other questions you deem necessary to be able to recommend appropriate structure to operate under as well as financing options.

Question 2: Recommend finance options for these assets, outlining tax implications, specifically deductions and allowances related to purchasing these assets and related to your recommended finance options.

Question 3: Outline a review plan, including timeframes, to ensure a) advice is given in a timely manner and b) changes in client objectives are considered and necessary adjustments can be made if circumstances change.

Question 4: What sources could you use to assist you in researching different financial products and their benefits to the business' performance?