Approaches to Fees and Pricing
Auxillias wants its clients to be highly satisfied and pleased, not only with the quality and timeliness of the services offered, but also with the value of those services.
When it comes to pricing, Auxillias wants clients to agree the price at the outset, before the work starts, to ensure complete transparency and no surprises later.
That is why the team spend time with clients from the outset, to understand the scope and budget of the work as well as to seek the clients’ input on the charging structure that works best for them. The team strive to agree fees that meet the client’s needs whilst still being commercially viable for Auxillias.
Charging Mechanisms
1. Standard traditional approach – hourly rates
We like to discuss rates with clients up front as our clients have different preferences on charging and so where we can we will accommodate their needs. We can also provide details of our hourly rates upon request.
2. Volume discounts
Auxillias can offer volume discounts, which would be based on the number of cases, complexity and type. This may apply where Auxillias receives a corresponding commitment from the client to supply an agreed level of work.
3. Blended hourly fee rates
Auxillias will consider an overall blended fee arrangement where appropriate. This gives clients a uniform hourly rate for matters.
4. Fixed rates
In certain circumstances Auxillias is happy to agree to fixed rates annually for some clients.
5. Flat fee billing
This has proved to be a popular choice for clients and something that is assessed on a case-by-case basis. The flat fee is generally subject to pre-agreed assumptions and parameters relating to the project. If the work falls outside the pre-agreed parameters, it is discussed with the client and we come to an ‘agreed-on’ mutually acceptable billing arrangement. Where the transaction costs exceed the flat fee but are within the assumed parameters, excess costs are absorbed.
6. Task billing basis
Auxillias can work on a task billing basis mainly where it is instructed to deliver against a client’s project plan, such as implementing changes in regulation, implementing the outcome of a FCA’s consultation or guidance, or when working on a large legal reform such as changes to the consumer credit act and rules that are forever evolving over the years.
Working together at the outset to build a project plan, to agree and assign tasks that the client can do itself, and those that are best suited for the team, has been a cost-effective way of working with clients. The team can support clients, ensuring that, by working together, both the task in hand is delivered and the whole project plan is adhered to.
7. Annual retainers
Auxillias can work on a retainer fee arrangement if preferred by the client. We have recently launched Auxillias on Demand, a cost-effective cost effective arrangement to support you with day-to-day legal, regulatory and compliance advice for a fixed monthly or annual retainer fee, with no commitment to a long-term contract. Find out more here.
8. Consultancy and advisory related tasks
Day rates and half-day rates may be agreed. This might be useful where clients need a project completed in-house, or need temporary or regular support in their day-to-day business, whether that be legal or compliance support.
9. Training
A fixed fee can be agreed for training staff (regardless of the number of individuals joining) – this would include preparation and delivery. There might be reasonable travel and accommodation expenses involved.