Terms of Business
This private client agreement is intended to be read in conjunction with the documents ‘Keyfacts – about our services’ and ‘Keyfacts – about the cost of our services’.
1. Commencement and termination of this agreement
This agreement is effective once signed by you and us. Either you, or we, may terminate our authority to act on your behalf at any time and without penalty, subject to notice being given in writing and payment of any outstanding fees. If you terminate our authority to act on your behalf in order to transfer your affairs to another professional firm, we will co-operate with any requests for transferring any details of your affairs that we hold, subject to your written authorisation and agreement to meet any related costs.
2. Instructing us
We require our clients to give us instructions in writing (which shall include facsimile and internet transmission) in order to avoid possible disputes. At our discretion, we will accept verbal instructions from you provided they are confirmed in writing.
We are authorised and regulated by the Financial Services Authority (registration number 402291) to conduct the following activities : Arranging and bringing about deals in investments Making arrangements with a view to transactions in investments Advising on investments Agreeing to carry on a regulated activity
4. Client money
We do not directly hold or handle client money. This means that we cannot 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.
5. Client protection
We maintain professional indemnity insurance against the event of negligence by any of our staff. If you make a valid claim in respect of services we have provided to you and we are unable to meet our liabilities in full, provided those services are subject to regulation by the Financial Services Authority, you may be entitled to redress from the Financial Services Compensation Scheme. Details of the Financial Services Compensation Scheme are available on request.
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6. Complaints and disputes
If you have a complaint about our services then this should be referred verbally or in writing to : Mr DJ Lavington Compliance Officer Leabold Financial Management Limited 3 Radnor Court 256 Cowbridge Road East Cardiff CF5 1GZ Your complaint will be acknowledged within 5 working days of receipt. We aim to investigate and issue a written response within 8 weeks of receipt. If your complaint is particularly complex, it may take longer to resolve. If so, then we will contact you regularly to update you on progress. If your complaint is not resolved to your satisfaction, where it relates to services that are regulated by the Financial Services Authority, you may then refer the matter to the Financial Ombudsman Service who will act on your behalf without charge. Details of the Financial Ombudsman Service are available on request.
7. Your information, privacy and marketing
Personal information supplied by you will be used for the purpose of completing any transactions you have instructed us to carry out or, in the course of advising you in relation to such transactions and any other services we agree to carry out on your behalf. We keep records of our business transactions for up to six years. Some records may be kept beyond this, where we are specifically required to do so by financial services regulations. You or your agent have the right to inspect copies of contract notes, vouchers and entries in our books or computerised records relating to your transactions, provided you give us reasonable notice. However, because we treat all records as confidential, we reserve this right in circumstances where it may result in the disclosure of information on other clients. All personal information we collect from you will be held and processed in accordance with the Data Protection Act 1998, and may be processed by third party administrators. Although we hold the information primarily for the purposes of administering this agreement, we may also use the information to market other products and services where we believe this may be relevant or of interest to you.
8. Registration of your investments
We will make arrangements for all your investments to be registered in your name unless you instruct us otherwise. We will forward to you all title documents showing ownership of your investments as soon as practicable after we receive them.
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Where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you.
9. Conflicts of interest
Although we offer independent advice, occasions can arise where we, or another client for whom we may be acting, may have some form of interest in the business being transacted for you. If this happens, or we become aware that our interests or those of our other clients conflict with your interests, we will write to you and obtain your consent before we carry out your instructions.
10. Our services
Please tick which is required :
Agreeing to act as your adviser – We will replace your existing financial adviser as the
servicing agent on any existing policies or investments that you may hold. We will approach the product providers with whom those policies have been arranged and ensure that future correspondence regarding your affairs is directed through us or directly to you. We will then await your further instructions regarding any financial advice you may require or transactions that you require us to make on your behalf.
Full Advice Service – We will advise you on how best to meet your financial planning needs
based on a detailed assessment of your existing assets, liabilities, policies and taking into account any particular financial objective you may have. When providing ‘full advice’ you may rely on us to assess and recommend the type of financial transactions, products and product providers that you will need to consider, as well as the level of cover, contribution or investment required to meet your financial objectives. Please tick the required category of advice you require :
Retirement planning Protecting against the financial consequences of death, illness or injury. Saving and investment Inheritance tax and estate planning Limited Advice Service – We will recommend appropriate financial products and product
providers based on those financial objectives that you specify to us. Unlike our ‘full advice service’, we will rely on your assessment of whether the level of cover, contribution or investment is sufficient to meet those objectives. Our recommendations will specify the type of financial transactions, products and product providers that you will need to consider. Please tick the required
category of limited advice you require :
Pension plans Life assurance policies Lump sum investment or regular savings products Income protection plans Medical expenses insurance Critical illness cover
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Execution-only Service - We will arrange financial transactions with the product providers and
on the terms that you specify to us. In doing so, we will not make any recommendations or comment on the suitability of the transaction to meet your needs and objectives. Please specify :
11. Reviewing your affairs
After we have carried out the above services, we may, from time to time, carry out some limited administration of any policies or investments you have asked us to arrange, such as the forwarding of correspondence from the product provider and advising you of any significant changes of opportunities we feel may be relevant to your circumstances. Please tick the required level or review
We will not review the advice we give to you, but will await your request on each future
occasion that you require us to act for you. We will then carry out such work on condition that you agree to any revised terms of business we may present to you at that time.
We will review the advice we give to you in line with any changes in your personal and
financial circumstances that you advise to us. We will carry out such work at a minimum rate of £250 per annum. Specify frequency of reviews :
12. Our charges
Depending on the nature and extent of the services you require us to carry out we may be entitled to receive commission from the product providers with whom you instruct us to arrange your investments and policies. Alternatively, we can charge you directly for our services and arrange for any commission to be reinvested to improve the terms of policies or investments we arrange on your behalf. Please tick the required method of charging :
Payment by commission - Where we derive income from commission paid to us by a life
assurance, pension and unit trust managers with whom your investments are made, you will receive from the life office or operator, or from us, information about the commission we receive. This income will be used to cover the cost of the services we provide to you.
Payment by fee - Alternatively, you may request us to undertake work on the basis of an agreed fee. In such circumstances, we will arrange for any commission to be reinvested to improve the terms on those transactions we agree to carry out on your behalf. We will invoice you once we
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have provided the agreed service for payment within 30 days. If payment exceeds this period, we reserve the right to charge interest on the outstanding amount. Details of agreed fee arrangement
13. Agreement to proceed
Name of Client(s) : Date
Name of Director :
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