Client Money Policy
Introduction
This policy outlines the key procedures that SLWB Ltd (“the firm”) follows to handle and safeguard client money in accordance with the requirements set out in Statement of Insolvency Practice 11, the IPA Client Money Regulations and the IPA Client Money Guidance (together “the Requirements”). The firm understands the importance of protecting client money and has implemented measures to ensure that all funds are managed in compliance with the Requirements.
Scope
This policy applies to all employees of SLWB Ltd who handle client money as part of their role.
Responsibilities
All employees who handle client money are responsible for complying with this policy and ensuring that client funds are handled in accordance with the Requirements.
Segregation of Funds
All client money is held in a separate bank account from the firm’s own funds. This account is used exclusively for client funds, and the firm does not use it for any other purposes.
Record Keeping and Reconciliations
The firm maintains accurate and up-to-date records of all client money transactions. This includes recording the source of the funds, the recipient of the funds, and any fees or charges deducted. The client bank account is reconciled each business day against the balances shown in each client’s ledger, and a record of each reconciliation is retained.
Protection of Client Money
Client money is protected by appropriate insurance.
Withdrawals and Payments
Withdrawals and payments from the client bank account can only be made in accordance with client instructions and with the approval of the Insolvency Practitioner responsible for the account.
Monitoring and Review
The firm monitors its compliance with this policy and reviews it regularly to ensure that it remains up to date and continues to comply with the Requirements.
What Our Clients Say About Us
"They really helped me get out of a massive hole of debt I was falling worse into I can't thank them enough for helping me I feel so much beta and can sleep now without worrying what's going to happen"
Sharon
“ I felt a lot of pressure had been taken off me once I had spoken to them. They kept me upto date every step of the way during my Iva set up and I was able to call anytime I needed advice.”
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Michelle
Email us – Enquiries@slwb.co.uk
You can visit the Money Helper website to find out more about managing your money and to get free advice, they are an independent service set up to help people manage their money
SLWB LTD (Company No. 16451543).
Registered Office: Second Floor A, Cheadle Place, Cheadle, Cheshire, England, SK8 2JX.
Adam Southard is authorised as a Licensed Insolvency Practitioner in the United Kingdom by the Insolvency Practitioners Association, We only provide advice after completing or receiving an initial fact find where the individual(s) concerned meet the criteria for one of our insolvency solutions, therefore, all advice regarding Individual Voluntary Arrangements (IVA) is given in reasonable contemplation of an insolvency appointment.
Adam Southard is licensed to act as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association. Office Holder No. 11930
Insolvency Practitioner Directory- Insolvency Practitioner Details (bis.gov.uk)
What you need to know about Individual Voluntary Arrangements
(Insolvency Service)
We provide solutions to individuals throughout the UK, We Will help recommend solutions available to your circumstances in which you can then make an informed decision about which solution you qualify for is best for you and your circumstances.