Describe how you ensure that your clients understand your service offerings and fee structure.
We prefer to work to a single “all in” fee – we find this works best as it most closely aligns our interests with our clients' interests. Almost all of our retained relationships, and 80% of our revenues, work on this basis.
The benefits to clients of the fixed fee approach are:
No surprises – we’re never over budget;
Saved time – no need to agree a fee for each new piece of work;
Alignment of interest – we are incentivised to work quickly and efficiently and we’re never incentivised to recommend a project because it increases our fees.
We agree a clear scope of services at the beginning of the relationship and we review this on a regular basis. Please see SG 13.2 for more information on the way that we conduct performance reviews.