Stage 8: PII, Case Management, Premises and Other Insurance

PII

All Authorised Entities are required to have Professional Indemnity Insurance in place from a qualifying insurer. If you have not done so already, you should have a look at the PII Buyers guide and then contact a broker to help arrange a quote. You can use the single application form on the PII section of our website for all quotes you need. You should not put the PII on risk until you have received “Provisional authorisation” from us.

Case Management

You will need to decide what system you are going to use to manage your clients matters and your workloads. Whilst we are unable to advise on case management systems, we would recommend you seek as much advice on this as possible, including talking to existing users, so you can choose a system that is easy to use and will grow with your firm. It should ideally integrate with your accounting arrangements, especially important if you are handling client money, as this will make reconciliations easier.

Premises

Another important decision when you start out. Firstly, you need premises in England & Wales. You will want to balance cost of premises against security and client impact. If your clients are never going to visit you, then do you need high street offices? Can you rent premises for meetings or visit them at home? Will you be able to work from home? Can you keep information secure and confidential in say fire proof cabinets behind a securely locked door? Think carefully before signing any lease – do I have the flexibility to change premises if I grow the business or to get out if it doesn’t work?