Customer Classification
The firm
proposes to classify you as a Private Customer.
Investment Objectives and Restrictions
Following the
issue of this letter any subsequent advice or recommendation offered to you
will be based on your stated investment objectives, acceptable level of risk
and any restrictions you wish to place on the type of investments or policies
you are willing to consider. Details of your stated investment objectives will
be included in the Suitability Letter we will issue to you to confirm our
recommendation. Unless confirmed in writing, to the contrary, we will assume
that you do not wish to place any restrictions on the advice we give you.
Investments Services
The firm is
authorised and regulated by the Financial Services Authority (FSA) to advise
on and arrange Life Assurance, Pensions, Collective Investments, Personal
Equity Plans, Individual Saving Accounts and Financial Planning. We are bound
by the rules of the FSA.
WTB Financial Consultancy
is an independent adviser and will act on your behalf in advising you on
products from the whole market.
With regard
to investments we have arranged for you, these will not be kept under review
unless we have been specifically asked to do so by you. However, we may
contact you in the future by means of an unsolicited promotion should we wish
to contact you to discuss the relative merits of an investment or service
which we feel may be of interest to you.
Written
Instructions
We will
normally require you to give written instructions in order for us to carry out
transactions on your behalf. However, in cases of emergency we will act upon
spoken instruction subject to confirmation in writing.
Remuneration
We derive
income from commission paid to us in respect of transactions in Life
Assurance. PEP/ISA, Unit Trusts and other Regulated Collective Investment
Schemes and in Investment Trust Companies’ shares held in a PEP/ISA or regular
savings scheme. We shall tell you the amount and the frequency of commission
payable to us on any such investment.
If we receive
commission or 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 reserve the right to share any commission or
fees received by us with other introducing agents.
Alternatively, if you or we propose to operate on a fee basis, we will agree
its basis, frequency and method with you in writing before we carry out any
chargeable work. Should we receive commission from any third party in
relation to transactions arranged for you, we will offset the amount received
against any fees due.
If we arrange for you to effect a
life policy from which we receive commission and SUBSEQUENTLY YOU CEASE TO PAY
PREMIUMS which results in us refunding the commission which has been paid to
us WE RESERVE THE RIGHT TO CHARGE YOU A FEE to recompense us for the time
spent in advising you and arranging the policy. WE SHALL NOT CHARGE ANY FEE
IF YOU EXERCISE YOUR RIGHT TO CANCEL THE POLICY IN ACCORDANCE WITH THE
CANCELLATION NOTICE SENT TO YOU BY THE PRODUCT PROVIDER.
Accounting to Customers
Unless in
exceptional circumstances, we will confirm to you in writing the basis or our
reason for recommending the transaction executed on your behalf.
We will also
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 is involved, we will normally hold each document until the series
is complete and then forward them to you.
Conflicts of Interest
We offer independent advice but
occasions can arise where we, or one of our customers, will have some form of
interest in business that 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.
Client
Money
The firm does not handle
client’s 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 an
invoice) or handle cash.
Making a Complaint
If you should have any complaint about the
advice you receive or a product that you have bought please write to the
Compliance Officer at WTB Financial Consultancy. If you feel that your
complaint has not been sufficiently handled you may subsequently complain to
the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14
9SR, Tel: 0207 676 1000.
Financial Services Compensation
Scheme
We are
covered by the Financial Services Compensation Scheme. You may be entitled to
compensation from the scheme if we cannot meet our obligations. This depends
on the type of business and the circumstances of the claim. Most types of
investment business are covered for 100% of the first £30,000 and 90% of the
next £20,000, so the maximum compensation is £48,000. Further information
about the compensation arrangements is available from the Financial Services
Compensation Scheme.
Data Protection
The information you have provided
is subject to the Data Protection Act 1998 (the “Act”). By signing this
document you consent to us or any company associated with us for processing,
both manually and by electronic means, your personal data for the purposes of
providing advice, administration and management.
“Processing” includes obtaining,
recording or holding information or data, transferring it to other companies
associated with us, product providers, the FSA or any other statutory,
governmental or regulatory body for legitimate purposes including, where
relevant, to solicitors and/or other debt collection agencies for debt
collection purposes and carrying out operations on the information or data.
We may also contact you or pass
your details to other companies associated with us to contact you (including
by telephone) with details of any other similar products, promotions, or for
related marketing purposes in which we think you may be interested.
The information provided may also
contain sensitive personal data for the purposes of the Act, being information
as to your physical or mental health or condition; the commission or alleged
commission of any offence by you; any proceedings for an offence committed or
alleged to have been committed by you, including the outcome or sentence in
such proceedings; your political opinions, religious or similar beliefs,
sexual life; or your membership of a Trade Union.
Please
tick this box to confirm your consent to us or any company associated with us
processing any such sensitive data.
□
If you
are happy for us or any company associated with us to contact you for
marketing purposes by e-mail, telephone, post or SMS, please tick this box.
□
If at any time you wish us or any
company associated with us to cease processing your personal data or sensitive
personal data, or contacting you for marketing purposes, please contact The
Data Protection Officer on (insert number
) or in writing at (insert address).
You may be assured that we and any
company associated with us will treat all personal data and sensitive personal
data as confidential and will not process it other than for a legitimate
purposes. Steps will be taken to ensure that the information is accurate, kept
up to date and not kept for longer than is necessary. Measures will also be
taken to safeguard against unauthorised or unlawful processing and accidental
loss or destruction or damage to the data.
Subject to certain exceptions, you
are entitled to have access to your personal and sensitive personal data held
by us. You may be charged a fee (subject to the statutory maximum) for
supplying you with such data.
Termination of this Agreement
You or we may terminate our authority to
act on your behalf at any time without penalty. Notice of this termination
must be given in writing. The termination will be without prejudice to the
completion of transactions already initiated, if this is the case.
Client consent
I understand and consent to the
above terms and I hereby authorise the transfer of information, as described
above on a confidential basis when warranted between such third parties. I
agree that the Terms of Business will come into effect from the date of issue.
This agreement is governed by
English Law.