Basic Responsibilities to Clients
Concepts Management Group will place the interests of clients ahead of our own and serve them with integrity, competence and independence. We will assume an independent position with each client, making certain that advice to clients is based on impartial consideration of pertinent facts and responsible opinions.
We will guard as confidential all information concerning the affairs of clients that we gather during the course of professional engagements. We will not take personal, financial or other advantage of material or information coming to our attention as a result of our relationship with clients; nor will we provide the basis on which others might take such advantage.
We will not serve two or more competing clients, or clients in any known adversarial relationship, without their knowledge and consent. Under certain circumstances we recognize that an adversarial relationship may be such that service to a client is inappropriate and we would have to discontinue our relationship.
We will inform clients of any relationships, circumstances or interests that might influence our judgment of the objectivity of our services.
As members of AMC Institute we will share with our colleagues’ innovations that contribute to the enhancement of association management company operations. We will not knowingly, without a client’s permission, share data, procedures, materials or techniques that are the property of the client.
We will accept only those engagements we are qualified to undertake and which we believe will provide tangible benefits to clients. We will assign personnel qualified by knowledge, experience and character to provide effective service. A principal of the firm will be responsible for the firm’s performance.
We will, before accepting an engagement, confer with the prospective client in sufficient detail and gather sufficient facts to gain an adequate understanding of the client’s needs. The preliminary exploration will be conducted confidentially, on terms and conditions agreed upon by the member and the prospective client.
We will make certain that the client received a written proposal that outlines the objectives, scope and estimated fees or fee basis for proposed service. After a relationship with a client has been established, we will discuss with them any significant changes in the nature, scope, timing, fees or any modifications to the relationship before acting.
We will serve each client on an individual basis, maintaining each association’s independence.
We will not serve a client under terms or conditions that might impair our objectivity, independence or integrity. We will reserve the right to withdraw from a relationship if conditions beyond our control develop to interfere with the successful conduct of the engagement.
Client Fees and Charges
Determination of fees requires consideration of many factors including the nature of the services performed; the time required; the management firm’s experience, ability and reputation; the degree of responsibility assumed; and the benefits that accrue to the client. We will charge fees that are commensurate with these factors.
We will clearly set forth the nature and scope of all fees, charges, expenses and other costs to be charged to a client prior to accepting an engagement.
We will maintain client funds separately from our own and from those of other clients.
We will not incur fees, charges, expenses, other costs or financial commitments beyond the policies and budgets of our clients without their prior approval.
The Industry Obligation
In order to promote the highest quality of performance in the operation of association management companies, AMC Institute member firms pledge to assume leadership responsibility for the enhancement of the independent investor-owned association management company industry.