Client Onboarding Process PDF

👨🏻‍💻 Client Onboarding Process: Onboarding Specialist Owner B Bianca Topic Client Onboarding Type of Knowledge How to/Playbook Last update @No...

👨🏻‍💻 Client Onboarding Process: Onboarding Specialist Owner B Bianca Topic Client Onboarding Type of Knowledge How to/Playbook Last update @November 22, 2024 11:56 AM Created on @March 18, 2024 10:57 AM Team 🤝 Client Management/Customer Success and Sales Author B Bianca Knowledge Manager Aaron Verification Verified Navigation Related Resources General Reminders Client Checklist: Onboarding with Renno & Co Instructions Phase 1: Prepare for onboarding the new client 💵 Pricing Chart (Hourly Rates) Phase 2: Onboard client on Practice Panther Phase 3: Onboard client on Notion 🪪 How to Review Persona (General Steps and Fintech DD) Phase 4: Onboard client on Telegram (Optional) General Reminders Onboarding Check the Onboarding dashboard daily Newly submitted Onboarding forms will appear on Onboarding dashboard under New Submissions A copy of the form will also be sent to [email protected] and auto- saved to the email folder Client Onboarding (New) Client Onboarding Process: Onboarding Specialist 1  Due Diligence The Fintech team has a slightly different process and after you receive the completed Onboarding form, the client’s status will be changed to Waiting for Due Diligence Once the client completes the Due Diligence, the Fintech team will let you know via a comment in the client’s page Persona Check Persona daily for updates on submissions with the status Waiting for Retainer/Persona Once the client completes Persona ID check, it will appear in Persona under Inquiries Retainer If the onboarding email indicates a retainer is required, you can verify our RBC account or Fireblocks regularly to check the status (instructions below) Check to see if it is a one-time retainer, or an evergreen retainer. If it’s evergreen it will need to be added to the client’s Notion page. Update the onboarding status to Waiting for Retainer/Persona until we receive payment For retainers in crypto, Toufic will send instructions to his clients directly. If not, you’ll have to create the vault by following these instructions: 🎯 How we process crypto payments/retainers Instructions Client Onboarding Process: Onboarding Specialist 2  Before getting started The originating lawyer will cc you when they send the onboarding email to the new client. This email will provide essential information about the new client, such as: the main contact’s name, the scope of work, matter(s), applicable fees and the retainer amount (if applicable). You should not start the onboarding process unless and until you have received this onboarding email. Phase 1: Prepare for onboarding the new client 1. Review onboarding email If you’re missing any of the below information in the onboarding email, reach out to the originating lawyer via Teams: Scope of work (if it’s a fixed fee matter); Matter name; Applicable fees/hourly rates; Retainer amount (if applicable) and whether it is a one-time retainer or an evergreen retainer; Assigned lawyer(s); and Any known conflicts (if applicable) Note: Fintech clients have two different onboarding emails. (1) The regular Onboarding email used for all clients with the table format; this is considered a fintech client however they may not be receiving fintech services yet (e.g. an incorporation). (2) A fintech Engagement email that uses a different chart for Fintech Compliance Services. Matter names may be things such as a “RPAA Registration for Company Inc”. Pouya can be considered the originating and assigned lawyer for all of these emails unless told otherwise. 2. Look out for the onboarding form Look under New submissions daily in the Onboarding dashboard to see if the client filled their onboarding form. ⚠️ STOP! If the client has not filled out the form yet, then stop here and check again later. If it’s been more than 2 days (excl. weekends/holidays), follow-up with the client directly and cc the lawyer (just reply to the onboarding email chain!). If it has been more than 1 week with no response, notify the lawyer and mark the submission’s status as Stalled. ✅ Once the client has submitted their form, review the onboarding email to make sure the information matches. Then, screenshot the onboarding email and add that screenshot in the onboarding page for that client in Onboarding. You can then continue with the next steps. 3. Edit the prospects database Client Onboarding Process: Onboarding Specialist 3  If this client was also in the Prospects (CRM) database, mark it as Won. 4. Check for ID via Persona Log in to Persona and check if the client has submitted their ID (Password is saved in 1Password). ⚠️ STOP! If the client has not submitted their ID yet, then update the submission’s status to Waiting for Retainer/Persona. If it’s been more than 2 days (excl. weekends/holidays), follow-up with the client directly and cc the originating lawyer (just reply to the onboarding email chain!). If it has been more than 1 week with no response, notify the lawyer and mark the submission’s status as Stalled. ✅ Once the client has submitted their ID, you can now continue with the next steps. a. Verify the client’s ID using these instructions: 🪪 How to Review Persona (General Steps and Fintech DD). b. Download the file and save it as “[Client Name] - Persona” (Save on your desktop for now - it will be added to the client’s OneDrive folder momentarily in Phase 2). 5. Check for retainer If the retainer is paid with crypto If the retainer is paid with fiat 1. Log in to Fireblocks using 1Password 1. Log in to RBC using 1Password 2. Follow these instructions: 2. Follow these instructions: Fireblocks - Checking for Retainers/Payments RBC - Trust Accounts - Checking for Retainers/Payments https://www.loom.com/share/91588997ada24b https://www.loom.com/share/fec00b51b37343809ffebbf056 088c8bc52765bb736a?sid=6770f84e-4ea5-43da- a6a9df?sid=240b0a1d-6329-4a0d-99ad-277843479889 b56e-aeb1bd4aac6d ⚠️ STOP! If the client still hasn’t paid their retainer, then update the status to Waiting for Retainer/Persona and stop here. If it’s been more than 2 days (excl. weekends/holidays), follow-up with the client directly and cc the originating lawyer (just reply to the onboarding email chain!). If it has been more than 1 week with no response, notify the lawyer and mark the submission’s status as Stalled. ✅ Once we’ve received the retainer, you can continue with the next steps. 6. Run conflict checks Client Onboarding Process: Onboarding Specialist 4  The onboarding form and/or onboarding email will identify any potential conflicts. 1. Search the name(s) on Practice Panther and select Run Full Search using the search bar. 2. Search the names on OneDrive. 3. If something comes up, ping the originating lawyer to notify them, and pause the process until you receive further instructions. ✅ Only once the above steps 1 to 6 are completed, you can update the status of the client as proceed with Phases 2 and 3 below. In Progress and Phase 2: Onboard client on Practice Panther To proceed with this phase, you’ll need to use the information that’s currently in the client’s submission in the Onboarding dashboard, the pricing chart, as well as the onboarding email sent to them by the originating lawyer. Step 1: Create Contact 1. Go to Practice Panther → Contacts → + New Contact Check in the Onboarding form if the client is onboarding as an Individual or as an Entity. This will be indicated in the property Type of client. If the client is an Individual, continue here →. If the client is an Entity, continue here → NOTE: if this is a Fintech client, ie. Pouya is the originating lawyer please include (FINTECH TEAM) to the end of the client name on PP If you are unsure, ping Pouya to confirm. 2. Input the Company Information a. Click + Add a Company on Practice Panther. (Their company name is listed in Onboarding under the property Name ). b. Search the company for KYC and to ensure it is spelled correctly: For Canadian companies: For non-Canadian companies: NOTE: If you cannot locate the name of the foreign entity, please contact the client and request their Certificate of Incorporation. c. Once you find the corporate profile, screenshot it and save on your desktop for now (this will later be added to the Internal Folder on OneDrive once the contact is created). d. Add the company name in Practice Panther and include the DBA, if applicable as “[Company Name] DBA [DBA]” (Example: “1006581 Canada Inc. DBA Redbull”). Note: For Fintech Clients that received due diligence, we will have received all of their corporate documents. The Fintech Pre-Onboarding Specialist should have shared a link to their DD folder in this folder here in the comments on the Onboarding Form. You can likely find their Articles and entity name there if you can not find it elsewhere. Client Onboarding Process: Onboarding Specialist 5  2. Input the Contact Information Only fill out the fields listed below. For any fields not listed below, please leave blank. For FIXED FEE clients, indicate the rate card that the lawyer provided in the onboarding email for NOTES any out-of-scope work outside of the Fixed Fee mandate. This will be the title of the client’s submission page in Onboarding. MAKE SURE TO INCLUDE A LAST NAME IN THE LAST NAME FIELD. (Even if the contact is NAME “Invoicing”, then add “Team” in the Last Name Field). If you don’t do this, it will cause issues when we generate invoices. EMAIL Input from the Email field. This is needed for invoices to be automatically sent. Input from the Phone Number field. MOBILE NOTE: International numbers may need to be entered in the ”Home” number field as Practice Panther may not recognize them as mobile. Input from Entity Address if a company or Individual Address if it’s an individual to the ADDRESS address field near the bottom above the “Assigned to” section. Important: At the Contact level, this will be the Originating Lawyer. ASSIGNED LAWYER This is the lawyer who sent the onboarding email, unless told otherwise (even if the assigned lawyer in the onboarding email is listed as someone else!) TAGS You will be able to know which tags to use based on the client’s responses in the onboarding form, but also the onboarding email sent by the originating lawyer. There are tags related to location (for invoicing) and currency (for reconciliation and invoicing). — LOCATION ONTARIO → if client is located in Ontario. QUEBEC → if client is located in Québec. ATLANTIC → if client is located in Newfoundland, PEI, Nova Scotia, New Brunswick. WESTERN CANADA → if client is located in BC, Manitoba, Alberta, Saskatchewan. INTERNATIONAL → for all non-Canadian clients, whether US, Europe, or otherwise. — CURRENCY FIREBLOCKS → If they have selected USDT or USDC (and any equivalent chains) as their preferred currency. USD DOCKET → If the rate card was in USD (i.e., USD Docket Default, USD Docket Discount, USD Docket Premium). BILL IN USD → If the rate card was not in USD but the client picked USD or crypto (in terms of how they prefer to pay). — OTHER MSB CLIENT → if the originating lawyer is Pouya Makki or if its a Fintech Client (unless stated otherwise in the Onboarding form) Client Onboarding Process: Onboarding Specialist 6  GDA → This is rare. Toufic will let you know if applicable. If it is part of the GDA family, use the "GDA family" tag. NOTE: If client picked one of the USDC/T options in the onboarding form, but the originating lawyer did not provide a Fireblocks vault in the onboarding email, then you need to first confirm that with the originating lawyer and get it sorted. Select the invoice template that corresponds with the location of the client (Example: Ontario tag INVOICE TEMPLATE will receive an Ontario invoice at the client/matter levels). This feature is only available for Entities (Companies). It won’t work if you only have an individual as a contact in Practice Panther. If a client has included a separate email to receive billing/invoices to you will need to create two separate contacts within the company: 1. Create the primary contact as indicated in the above step 2. Click Add another contact to this company at the bottom of the primary contact section. ADDITIONAL INVOICE 3. Enter “Accounts” as first name and “Payable”as last name RECIPIENTS 4. Input the email from Invoicing Email(s) section of the submission, click Save. 5. Click edit and scroll to the bottom section to Additional Invoice Recipients. 6. Select the Accounting contact from the drop-down menu. 7. Click Save. Continue this process if multiple recipients. 3. Double check everything and click Save Make sure to compare what you’ve inputed with the answers from the onboarding form as well as the onboarding email. 4. If you added the tag Fireblocks when creating the client, please follow the instructions below. If not, you can skip this step! a. Login to Fireblocks and see if there is already a vault for the client If you’re unsure how to check if there is an existing vault on Fireblocks, then just follow the instructions here → If there is no vault on Fireblocks for this client If there is an existing vault on Fireblocks for the client 1. You’ll need to create a new vault and set up the 1. You’ll just need to edit the name of the vault on wallets. To do that, just follow the steps here → Fireblocks to be consistent with the client number on Practice Panther 2. If the client is supposed to pay a retainer in crypto, then you’ll need to do this too → a. The current vault will likely be Option 1 of b. Your job will be to revise it to Option 2 as set out in that link! 5. Head back to Practice Panther (to the client’s page) 6. Add the template folders to the client folder on OneDrive Client Onboarding Process: Onboarding Specialist 7  a. In the client’s page on Practice Panther, click the tab Files → Open in OneDrive. b. Copy and upload the template folders into the client’s OneDrive. Do not paste them as a zip, upload them individually. The template folders are linked below. We suggest downloading them and keeping a copy on your desktop for easy access. https://rcooffice- my.sharepoint.com/:f:/g/personal/holly_walker_rennoco_com/EmfdCnqNdIxOnUnRO0W2 e=cTFXcT c. Go to Internal → KYC → upload the saved Persona file and the screenshot of the company name from the database (if applicable). Step 2: Create Matter 1. Go to Practice Panther → Matters → + New Matter Only fill out the fields listed below. For any fields not listed below, please leave blank. CONTACT Should be filled automatically. If not, select the client’s name. MATTER NAME Add the matter name(s) listed by the originating lawyer in the onboarding email. Matter rates will only ever be one of two things: a custom hourly rate or a flat rate. Check the onboarding email: Option 1 → If it provides for an hourly rate (link): select Custom Hourly Rate. MATTER RATE Option 2 → If it provides for a a fixed rate: select Flat Rate. Note: most Fintech clients will be on a fixed rate. INPUTTING RATE TYPE / FLAT Based on which option you select above, a new field will appear below the Matter Rate RATE field. If Flat Rate → leave at $0,00. You will enter the flat rate later in the next step. Note: This will make all dockets non-billable by default in this matter. If we don’t do it this way, lawyers have to manually switch their dockets to non-billable. If Hourly Rate → see below: 1. Click the link in the onboarding email. 2. Refer to the icon beside the name of the rate. 3. Then, go to 💵 Pricing Chart (Hourly Rates) to match the rate. Client Onboarding Process: Onboarding Specialist 8  4. Select the applicable rate from the drop down menu in Practice Panther. This menu will not appear unless you have selected “custom hourly rate”. Note: We use codes (icons) to ensure clients don’t know if they have a discounted or premium rate! Select the invoice template that corresponds with the location of the client (Example: INVOICE TEMPLATE Ontario tag will receive an Ontario invoice at the client/matter levels). ASSIGNED LAWYER This will be the assigned lawyer indicated in the onboarding email. This will be the originating lawyer who sent the onboarding email, and who was listed as ORIGINATING LAWYER “Assigned” at the contact level. MSB CLIENT → if the originating lawyer is Pouya Makki or if its a Fintech Client (unless stated otherwise in the Onboarding form) This is the only tag you should be using at the matter level (unless indicated otherwise). TAGS Note: In rare circumstances a lawyer may ask for a BD split to be documented (e.g. “Aaron/Toufic Split” you can add this as a tag at the matter level. Ir you are unsure please ask Holly or Aaron before adding. 2. Review and click Save Make sure to compare what you’ve inputed with the answers from the onboarding form as well as the onboarding email. 3. Add flat fee to matter (If applicable) a. In the client’s page, click the tab Flat Fees → New Flat Fee b. Choose the applicable matter c. Item → indicate Flat Fee d. Description → write a brief description (e.g.: Incorporation) e. Billed by → select Renno Compliance f. Price → the Amount (add this last, as it updates to $0 when you change anything else) For more information: Adding in Fixed Fees on PP https://www.loom.com/share/c42912848b4d45b684946627fa346a7b ✅ Once the above steps are all completed, you can update the status of the client as Onboarding dashboard and proceed with Phase 3 below. Ready for Import in the Phase 3: Onboard client on Notion Client Onboarding Process: Onboarding Specialist 9  Once the client has been onboarded on Practice Panther, update the status to Ready For Import in the Onboarding dashboard. To proceed with this phase, you’ll need the onboarding email, as well as the contact and matter(s) you just opened in Practice Panther. 1. Go to the Onboarding dashboard a. If not already done, screenshot the onboarding email and add that screenshot in the onboarding page for that client in Onboarding. b. If not already done, update the status of the client to Ready for Import. c. Scroll down to. i. This will show all clients who’s status have been marked Ready for import. ii. Clients should only be here if Phases 1 and 2 of the onboarding process above have been duly completed. 💭 Before proceeding with steps 2 and 3 below, please watch this short tutorial to make sure you do it properly: https://www.loom.com/share/e1d968e5ba824095a8d500cc092a056d?sid=35380b53-b43a-432f-9 0f2-576b224f5895 2. Copy the client information from the Onboarding database a. As shown in the video above, drag across the line where the client’s information is located to highlight all properties. b. Once the entire line is highlighted, click ctrl / cmd + c on your keyboard. 3. Paste the client information into the Clients database a. Scroll down to b. Navigate to the bottom line of the database and click +New. Don’t use the blue button for creating the client as it will open a page. c. An empty line will be appear. d. Using your mouse, drag across the full line to highlight it (from the “Client Name” column to the “Preferred Contact” column). e. Click ctrl / cmd + v on your keyboard. f. The new client’s page is now created, and you’ve imported most of the information. Continue below to finalize! 4. Update the new client’s page a. Open the new client’s page that was created in Notion. b. Add the client number to the beginning of the title (e.g.: - Client Name). You will find this automatically generated number in the client’s file you just created in Practice Panther. i. It is best practice to copy and paste from Practice Panther, ensure the pasted text is not hyperlinked. Client Onboarding Process: Onboarding Specialist 10  c. If the originating lawyer is Pouya Makki or this is an MSB/FINTECH Client, write (FINTECH TEAM) at the end of the client’s name. d. Tag the Originating Lawyer. e. Update the Status property to Current Client. f. If the client has an evergreen retainer (would be indicated in the onboarding email), add the amount to the Evergreen Retainer property. g. If the client has included any information in the Special Notes property in the onboarding form, copy and paste it to the respective client page as applicable. i. Paste it as a comment and/or to the Special Client Management Notes section if applicable. ii. If it seems important (e.g. accommodations) you may want to tag the originating/assigned lawyer in the comments to be aware of. h. If this is a flat fee client, please include any rates quoted for out-of-scope work in the comments on the Client Page. i. If there are any other special internal comments on the onboarding page that should be transferred to the client page, please move them over. i. If the client has listed multiple UBO’s or contacts with names and emails, consider adding these to the the Key Contacts section on the client page as applicable j. All the other information should have been imported when you pasted the page (Step 3 above). 5. Create Matters on Notion a. Scroll to the Add a Matter section of the new client page. b. Select the button Create a new matter. c. Copy the Matter number and name from Practice Panther in the title. NOTE: For all generic matters like ‘General Corporate Matters’, or “Regulatory Compliance Matters” always add the client name in brackets to the end of the matter name on Notion. For example: “General Corporate Matters (Aintech)” For Fintech Matters: Client Names should also be added to Fintech matters if they were not already provided in the onboarding email. (For example if it only says “RPAA Registration” or “Bank of Canada Registration” as the matter name with no company specified, add the client name to the end of the matter, “RRPA Registration for Stars Inc.” This should only be done on Notion, not on PP. d. Update the Assigned Lawyer field to match the assigned lawyer from the onboarding email. e. IF there is a fixed fee, add the amount to the Flat Fee property f. IF there is a monthly fixed fee, add the amount to the Monthly Fixed Fee property 6. Move the onboarding email to the onboarded folder a. Go to the [email protected] email inbox b. For normal clients, move the client’s onboarding email to the “Onboarded Clients” folder Client Onboarding Process: Onboarding Specialist 11  c. For Fintech clients, move the client’s onboarding email to the “Onboarded Fintech client’s folder 7. IMPORTANT LAST STEP a. Go back to the Onboarding dashboard. b. Scroll to the section. c. Open the client’s page. d. Update the Onboarding Status to Onboarded. 8. YOU’RE DONE! 🎉 If you want, you can let the originating lawyer know that the onboarding is completed, but they’ll get a ping on Notion anyway. Phase 4: Onboard client on Telegram (Optional) If the client selected Telegram to the question “Preferred method of communication” in their onboarding form, please follow the instructions in the guide below to onboard them on Telegram as well: 📨 How to onboard clients on Telegram (Onboarding Specialist’s Guide) Client Onboarding Process: Onboarding Specialist 12