Terms of Business

This Terms of Business letter sets out the basis on which we will conduct business with you and on your behalf. It is an important document and we would ask you to read it carefully. If you are unsure of any of its terms, please ask.

These Terms come into force immediately on issue and remain in force until further notice.

We are an Independent Intermediary authorised and regulated in the conduct of investment business, mortgages and general insurance by the Financial Services Authority (FSA). Our FSA registration number is 145844. You can check this on the FSA register by visiting the FSA website www.fsa.gov.uk or by contacting the FSA on 0845 606 1234.

In order to provide you with personal advice and recommendations suitable for your particular circumstances, we undertake a ‘fact find’ to gather the appropriate information. We will then be able to set out clearly your investment objectives.

On the basis of the information you have provided to us, we have classified you, in accordance with FSA Rules, as a Private Customer.

Unless you inform us whether there are any restrictions as to the type of investment, or the markets, on which you want advice, we will only provide that advice on investments within our authorisation and that we believe are suitable for you. We will not provide any service relating to futures, options or contracts for differences.

We provide investment advice and arrange transactions in life assurance, pensions, unit trusts, OEICs, and other collective investment schemes, stocks and shares, Individual Savings Accounts, Personal Equity Plans and other securities. We may also include unregulated collective investment schemes where these are suitable for you.

A company brochure and key features document will be issued in respect of each investment recommendation. We recommend these are read thoroughly before proceeding and you are satisfied that each plan is in keeping with your requirements and risk profile.

We may charge a fee, although where we propose to do so, details will be set out in writing before we carry out any chargeable work on your behalf.

We normally derive our income from commission paid to us in respect of transactions in life assurance, unit trusts and other regulated collective investment schemes, and in investment trust companies’ shares held in a PEP or regular savings scheme (packaged products). Commission rates vary depending on the product. We shall tell you the amount of commission payable to us on any such investment.

If we receive commission on any other form of benefit from the issuer of a security or from another intermediary, we will inform you, but we will not tell you its amount unless you ask us to do so.

We may share commissions with third parties who introduce business to us.

The advice we provide to you on those packaged products is INDEPENDENT, and will be based on a fair analysis of the market.

We require our clients to give us instructions in writing to avoid possible disputes. This will usually be in the form of a proposal or application form. We will, however, accept oral instructions in certain instances provided they are subsequently confirmed in writing.

For your protection WE DO NOT HANDLE CLIENTS’ MONEY. We never accept a cheque made out to us (unless it is a cheque in settlement of charges or disbursements for which we have sent you a bill) or handle cash.

We will make arrangements for all your investments to be registered in your name unless you first instruct us otherwise in writing.

We will forward to you all documents showing ownership of your investments as soon as practicable after we receive them; where a number of documents relating to a series of transactions are involved, we will normally hold each document until the series is complete and then forward them to you.

You will not have any cancellation rights for ISAs or PEPs which are not invested in packaged products. Neither for execution-only transactions in authorised unit trusts or not in an ISA or PEP.

Unless you specifically request otherwise, we may telephone or visit you during normal social hours to offer you further advice or inform you of products and services in which you may be interested.

We offer independent financial advice, but occasions can arise where we, or one of our other customers, will have some form of interest in business, which we are transacting for you. If this happens, or we become aware that our interests or those of one of our other customers conflict with your interests, we will inform you in writing and obtain your consent before we carry out your instructions. There may be occasions when we will be unable to act for one of the parties.

Non readily realisable investments will generally have a restricted market and therefore it may be difficult to deal in that investment or to obtain reliable information about its value.

The value of investments may go down as well as up, and you may not get back the amount invested. Levels of income from investments may fluctuate.

The services to be provided by the firm may include advice on investments relating to, or executing transactions in units in unregulated collective investment schemes.

If you should have any complaint about the advice you receive or a product you have bought, please write to the Compliance Officer at the address overleaf.

Your complaint will be investigated in accordance with the firm’s complaint handling procedures, a copy of which will be provided to you. If you are not happy with the way in which we carry out our investigation, or with the result, you will then be entitled to complain directly to the Financial Ombudsman Service.

If you make a valid claim against this firm in respect of the investments we arrange for you to buy or sell and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme Ltd for awards up to £48,000. Details of the cover provided by the Scheme are given in a leaflet, which we will send you at your request. Further information is available from the FSA or the Compensation Scheme.

You, or we, may terminate our authority to act on your behalf at any time, without prejudice to the completion of any transactions already initiated, and without penalty. Notice of this termination must be given in writing.

When we have arranged any investments for you, we will not give you further advice unless you request it, but will be glad to advise you at any time you ask us to do so.

We are registered under the Data Protection Act 1998.

You have a right to inspect copies of contract notes, vouchers and entries in our books or computerised records relating to your transactions. We reserve the right to charge a fee for providing such access. As we treat all our clients’ records as confidential, we reserve the right to give you copies of those records if to do otherwise would allow access to files containing records about other clients.

It is understood, and you agree, that we keep personal and financial information with regard to your circumstances on computer and in paper files. That information may contain sensitive information and was correct at the time it was obtained from you. Also we may disclose information about you to third parties for the purpose of providing you with advice and processing applications, to our professional advisers and regulators, or where you have given us your permission to reveal such information. We cannot be held responsible for any of the information becoming inaccurate due to your change of circumstances if you fail to inform us of those changes.

We keep records of our business transactions for at least six years.

We reserve the right to approach third parties and to delay any applications until adequate verification of identity has been obtained under the Money Laundering Regulations 1993.

We reserve the right to amend these Terms of Business at our discretion where changes in regulation, law, etc. necessitate, by giving you notice in writing.