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Terms & Conditions |
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Life Protection Direct is a trading style of Padstone Financial Management Limited
which is authorised and regulated by the Financial Services Authority.
Padstone Financial Management
Limited is an independent adviser and will act on your behalf in advising
you on life assurance, pensions and investments from different companies.
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INVESTMENT
SERVICES
Padstone
Financial Management Limited is permitted to arrange (bring about) deals in
investments and advice on investments. The particular investment types relate to
life assurance, pensions, investments in authorised collective investment
schemes, Unit Trust PEPs and ISAs. And in limited circumstances my include
unregulated collective investment schemes.
With
regard to investments which we have arranged for you, these will not be kept
under review but we will advise you upon your request. 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. Padstone Financial
Management Limited does 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 an invoice) or
handle cash.
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MATERIAL
INTERESTS
Padstone
Financial Management Limited offers independent advice, but occasions can arise
where we or one of our other clients will have some form of interest in 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 interests, we will write to you and obtain your
consent before we carry out your instructions, and detail the steps we will take
to ensure fair treatment.
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CLIENT
INSTRUCTIONS
We
require our clients to give us instructions in writing (which shall include fax.
transmission) to avoid possible disputes. We
will, however, accept oral instructions provided they are confirmed in writing
within 24 hours.
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TERMINATION
OF AUTHORITY
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 and will take effect from the date of receipt.
Termination is without prejudice to any transactions already initiated
which will be completed according to these terms of business unless otherwise
agreed in writing. You will be liable to pay for any transactions made prior to
termination and any fees which may be outstanding.
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COMPENSATION
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 circumstances of your 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 compensation arrangements is available from the Financial
Services Compensation Scheme. Details
of the cover provided by the Financial Services Compensation Scheme are given in
a leaflet which we will send at your request.
Further information is available from the Financial Services Authority
and the Financial Services Compensation Scheme.
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COMPLAINTS
If
you should have any complaint about the advice you receive or a product you have
bought please write to the Financial services
Authority. If following our subsequent investigation and response you are still not
satisfied you may contact the Financial Ombudsman Service.
Full details are contained within our internal complaints procedure,
which is available to you on request at any time.
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RIGHT
TO WITHDRAW
In
the case of a non packaged product ISA or Pep recommended we will inform you in
writing of any right to withdraw or cancel you may have or, if it is the case,
we will inform you in writing that no such rights will apply.
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CLIENTS
RISK
You
are advised that because investments can fall as well as rise, you may not get
back the full amount invested. Past performance is not necessarily a guide to
future performance.
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DISCLOSURE
OF CLIENTS PERSONAL DATA
Where
investment business services are provided to Padstone Financial Management
Limited by third parties then circumstances may arise which warrant the
disclosure of more than just your basic contact details.
On these occasions such as processing business, and obtaining compliance
and regulatory advice you agree that personal information held by Padstone
Financial Management Limited may be disclosed on a confidential basis, and in
accordance with the Data Protection Act 1998, to such third parties.
You agree that this information may be transferred electronically, e.g.
email. You also agree that
ourselves or any such third party may contact you in future by any means of
communication which we consider appropriate at the time.
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PAYMENT
FOR SERVICES
We
normally derive our income from commission paid to us by life assurance
companies and the operators of collective investment schemes through which
investments are made. We shall tell
you the amount of commission payable to us on any such investment.
If
we receive a 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.
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.
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ACCOUNTING
TO YOU
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.
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INVESTMENT
OBJECTIVES & 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.
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CLIENTS
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.
Client
Name
..
Client
Name
..
Client Signature
Date of
Issue
/
/
Date of Receipt
/
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