Confidence through professional standards

We are authorised and regulated by the Royal Institution of Chartered Surveyors (RICS) and the Financial Conduct Authority (FCA).

We are a Limited Liability Partnership (LLP) with the three corporate members all authorised and regulated by the Royal Institution of Chartered Surveyors (RICS) and Masons (Rural) Co Unlimited as agents for AMC by the Financial Conduct Authority (FCA). The trading corporate members are currently Masons (Louth) Ltd, Louth Market Ltd & Masons (Rural) Co Unlimited.

As a RICS regulated firm we must protect the security of clients’ money on their behalf.  We manage client accounts effectively by having robust controls and systems in place and strictly in accordance with best practice.

Our clients are protected by a fund called the RICS Clients’ Money Protection Scheme. This is a free service provided to clients of RICS-regulated firms. All regulated firms who hold clients' money pay a regulatory review fee on an annual basis. The income generated from these fees covers the operational costs of the client money Regulatory Review Visit programme.

Royal Institution of Chartered Surveyors (RICS)

RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, property, construction and infrastructure.  RICS members promises the consistent delivery of standards – bringing confidence to the markets we serve.

We believe that standards underpin effective markets. With up to seventy per cent of the world’s wealth bound up in land and property our sector is vital to economic development, helping to support stable, sustainable investment and growth around the globe.

We are proud of our reputation and we guard it fiercely, so clients who work with an RICS professional can have confidence in the quality and ethics of the services they receive.

To find out more visit https://www.rics.org/uk/regulation1

RICS Client Money Protection Scheme Certificate

WRITTEN PROCEDURE FOR HANDLING CLIENTS' MONEY

• Clients' money is held in one of our four designated clients bank accounts at HSBC Bank, Cornmarket, Louth, LN11 9QB.

• A central list of client bank accounts is maintained including dates of opening and closing of accounts

• Clients' money held is covered by the RICS Client Money Protection Scheme and the firm’s professional indemnity insurance.
   
• HSBC bank acknowledge that monies in our client accounts will not be combined with or transferred to any other account maintained by the firm and that HSBC bank is not entitled to exercise any set-off or counterclaim against money in that client money account for any sum owed to it for any other account of the firm.

• Access to our client accounts is only accessible by Principals and senior accounting staff.

• Cheques and Cash payments are banked promptly and within three working days of receipt.

• Payments from our client accounts are made by HSBCnet online banking and only senior members of accounts staff or Principals have the authorisation to make payments.

• Any interest accrued is retained by us to cover administration, regulatory compliance, and the cost of The Dispute Service Premium.

• Bank charges are paid from non-client accounts held by the firm.

• Bank account reconciliations/client account reporting is conducted monthly and reviewed by a Principal and a senior member of the firm. Any unidentified items of money are investigated.

• Action is taken to identify the owner of any unidentified clients' money. An investigation into the unidentified funds will be conducted which includes:

  • checking our accounting records to see whether we have outstanding rental income/ground rents/compensation claims/fees.

  • Writing to the last known address of the client/tenants

  • Try to repay the funds through the banking system wherever possible.

  • If identification of the payment is not possible within three years of receipt, the monies will be paid to a charity, after obtaining an indemnity from the Charity to repay the funds to us if required

• Client statements are produced on a regular basis to show the movement of client’s money and payments are made to clients promptly.