This agreement sets out the terms under which we’ll provide our services to you, so it’s important that you read it fully and in conjunction with our Client Agreement (what we do and how we charge) document. If there’s something you don’t understand please ask us to explain it.
If you have a question or concern about any aspect of our services please contact us at:
- Telephone: 01202 882420
- Email: firstname.lastname@example.org
- Website: www.tmplimited.co.uk
- In writing: The Compliance Manager, The Minster Partnership Limited, Allen House, 2A East Borough, Wimborne, Dorset BH21 1PF
This agreement sets out our respective obligations and should be read in conjunction with the information in our Client Agreement (what we do and how we charge) document which has also been provided to you.
Section 4 (Useful information about our services) includes details of the protections available to you under UK financial services regulation. The services we have agreed to provide and the cost for those services are shown in section 5 (Services agreed).
1. Our Obligation
- Before providing advice we’ll assess your needs, consider your financial objectives and assess your attitude to any risks that may be involved. If you don’t want to discuss a particular area of financial planning and that area should not form part of the advice given, we can exclude it, if you instruct us to do so. This might of course have a bearing on the advice that might have been given.
- Before making any recommendations we’ll carry out a suitability assessment so that we are able to act in your best interests.
- We’ll confirm any recommendations we make in writing (our suitability report) along with details of any special risks that may be associated with the products or investment strategies we’ve recommended.
- Where we agree to provide you with a service that includes an ongoing review of the suitability of the investments we have recommended, we’ll carry out this review at least annually. To do this we will need to make contact with you to assess whether the information we hold about you remains accurate and up to date. We’ll issue you with a report setting out the results of our assessment and, if relevant, any updated recommendations.
- Please be aware that investments can fall, as well as rise, and that you may not get back the full amount invested. The price of investments we may recommend may depend on fluctuations in the financial markets, or other economic factors, which are outside our control. Past performance is not necessarily a guide to future performance.
- Specific warnings relevant to the investments, investment strategies or other products we arrange are provided in the relevant product literature provided.
- We may, where appropriate, recommend holding some, or all, of your investments with a discretionary fund manager (DFM), a professional investment manager appointed to monitor your portfolio and make investment decisions on your behalf. In such cases we’ll explain the respective responsibilities of ourselves and the DFM in relation to your investments.
- In some circumstances we may need to act as your ‘agent’ in relation to the part of your portfolio held with a DFM. This means that you won’t have a direct contractual relationship with the DFM and the DFM will instead treat our firm as its client. Before setting up this type of arrangement we’ll explain the implications to you.
- In accordance with the anti-money laundering regulations we will make searches about you at credit reference agencies, using electronic systems, which will supply us with information. This information will include data from the Electoral Register for the purpose of verifying your identity. The credit reference agencies will record details of the search. These searches leave a soft footprint on your credit record, however they will not affect your credit ability to gain credit nor will they be seen or used to assess your ability to obtain credit. We may use scoring methods to verify your identity.
- Credit searches and other information which is provided to us and/or the credit reference agencies, about you and those with whom you are linked financially may be used by The Minster Partnership Ltd and other companies if you, or other members of your household, apply for other facilities including insurance applications and claims. This information may also be used for the prevention of money laundering. Additionally, we may ask you to provide physical forms of identification.
- Where we send investment applications on your behalf to third parties (e.g. to put an investment into force), we’ll take all sufficient steps to ensure that we obtain the best possible result for you. This is referred to as ‘best execution’.
- We have a best execution policy. If you want to see a copy of it please ask us.
Conflicts of interest
- Although we’ll always try to act in your best interests there may be situations where we or one of our other clients has some form of interest in the business being transacted for you. If this happens or we become aware that our interests or those of one of our other clients conflict with your own interests, we’ll write to you and ask for your consent to proceed before we carry out any business for you. We’ll also let you know the steps we’ll take to make sure you are treated fairly.
- We have a conflicts of interest policy. If you want to see a copy of it please ask us.
Protecting personal information
- To provide our services properly we’ll need to collect information on your personal and financial circumstances. We take your privacy seriously and will only use personal information to deliver our services. For further details on how we process personal data, please refer our Privacy Notice.
Communicating with you
- Our normal ways of communicating with you are by telephone, post, e-mail or in person. Our communications will be in English.
- We may ask you to confirm your instructions to us in writing as this helps to avoid any future misunderstandings.
Recording telephone calls
- To ensure we carry out your instructions accurately, to help us to continually improve our service and in the interests of security, we’ll record and may monitor your telephone communications or conversations with us to our office number 01202 882420.
- Copies of our telephone recordings will be available on request, for a period of 5 years after the recording was made.
2. Your obligations
This section sets out your obligations in agreeing to receive our services.
Providing information about your circumstances
- Our advice will be based on the information that you give so it’s important that you provide us with accurate and up to date information when we request details about your circumstances and objectives. This will allow us to provide you with suitable advice. If the information you provide is inaccurate or if you limit the information provided this could affect the suitability of the advice we give.
Payment for services
- By signing this agreement you are agreeing to pay the charges for our services as set out in section 5 (Services agreed). Your selected payment method is also confirmed in section 5. We’ll tell you if any payments are subject to VAT.
- Our initial charges are payable once we’ve completed our agreed work and must be settled within 15 business days.
- If you are paying our initial charges by instalment (only applies when you have taken out a regular contribution contract) it’s important that you make payments as agreed. Where you miss a payment, or cancel the contract from where the payments are coming from, we will issue a separate invoice for the missed amount or where the policy is cancelled we will invoice you for the balance of the full payment.
- In some limited circumstances (for protection planning business only) we may receive a commission payment from a product provider. Typically, the commission payment will be offset against the charges you owe us for our services. If the commission payment relates to a regular contribution policy and you stop paying premiums on that policy we may be obliged to refund the commission received back to the policy provider. In such cases, we reserve the right to request the full payment of any outstanding balance of charges for our services.
- Any products we have arranged for you will only be kept under review as part of an ongoing service for which have agreed to pay. Our ongoing services are optional, but if you agree to purchase an ongoing service, unless otherwise agreed, the ongoing service will be provided as a follow up to the initial service.
- Our charges for ongoing services will start alongside the initial charge if taken as a percentage of funds under management. Our charges, when not facilitated through the product manufacture, are payable within 15 business days of the end of the relevant period.
- Ongoing services can be cancelled at any time by informing us in writing (see section 3 – Cancellation and amendments) but please note that we do reserve the right to charge you for services we have provided before cancellation.
- Where our charges are based on a percentage of your investments, the amount of our ongoing charges may increase as the size of your fund grows.
- In some circumstances we may receive ongoing payments (commission) from product providers relating to existing investments you hold. Such payments may be taken into account when determining the charges for ongoing services. We’ll discuss and agree this with you where relevant.
Legal and accounting advice
- We are not qualified to provide legal or accounting advice or to prepare any legal or accounting documents. This means that the onus is on you to refer any point of law or accountancy that may arise during the course of discussions with us, to a solicitor or accountant.
3. Cancellation and amendments
Ending this agreement
- We may terminate this agreement by giving you at least 20 business days’ written notice.
- You may terminate this agreement at any time, without penalty. Notice of termination must be given in writing and will take effect from the date of receipt.
- Any transactions already initiated will be completed according to this agreement unless otherwise agreed in writing.
- You will be liable to pay for any services we have provided before cancellation and any outstanding fees, if applicable.
- From time to time it may be necessary to amend the terms set out in this agreement where it’s not necessary to issue a new agreement. If this is the case we’ll write to you with details of the changes at least 28 business days before the changes are due to take effect.
Product cancellation rights
- Full details of any financial products we recommend to you will be provided in the relevant product information you will receive. This will include information about any product cancellation rights along with any other early termination rights and penalties.
4. Useful information about our services
Who authorises us to advise you?
- We are authorised and regulated by the Financial Conduct Authority (FCA), 12 Endeavour Square, Stratford, London, E20 1JN. www.fca.org.uk. Our firm reference number is 745901.
- Our permitted business is advising on and arranging pensions, savings and investment products, non-investment insurance contracts and mortgages.
- You can check our details on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768.
- Unless we tell you otherwise, we’ll treat you as a retail client for investment business. This means that you are given the highest level of protection available under the UK’s regulatory system.
What if things go wrong?
- If you are unhappy with our advice or any aspect of our services, we encourage you to contact us as soon as possible. We’ll do our best to resolve your concerns.
– Telephone: 01202 882420
– Email: email@example.com
– In writing: The Minster Partnership Ltd, Allen House, 2A East Borough, Wimborne, Dorset, BH21 1PF
• We have a complaints procedure and we can provide further details on request. If you do have a complaint, and you are not happy with our response, the Financial Ombudsman Service (FOS) may be able to help. The FOS settles disputes between financial services business and their clients. Full details are available at www.financial-ombudsman.org.uk
Additional peace of mind
- The Financial Services Compensation Scheme (FSCS) is the UK’s statutory compensation fund for customers of authorised financial services firms who are unable to pay claims against them, usually because they have gone out of business.
- You may be able to claim compensation from the FSCS if we can’t meet our obligations. The amount of compensation available will depend on the type of business and the circumstances of the claim. We can provide more specific information on request, but as a guide:
Investments – eligible claims related to most types of investment business are covered for up to 100% of a claim up to a maximum of £85,000 per person per firm.
Insurance – in the majority of cases, eligible claims related to advising and arranging of protection products are covered for 90% of the claim, without any upper limit.
- Further information is available from the FSCS at www.fscs.org.uk.
Benefits we may receive
- Under the rules of our regulator, the FCA, as a firm providing independent advice we are unable to accept or retain payments or benefits from other firms e.g. product manufactures as this would conflict with our independent status.
- From time to time we may attend training events funded and /or delivered by product providers, fund managers and investment platforms. These events are designed to enhance our knowledge and enhance the quality of service we provide to our clients. As such this doesn’t affect our obligation to act in your best interests. Please ask us if you want further details.