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TERMS OF BUSINESS

Independent Pension Specialists Limited

Terms of Business

This agreement is issued on behalf of Independent Pension Specialists Ltd of Inspire House, 20 Tonbridge Road, Maidstone, Kent ME16 8RT. Independent Pension Specialists Ltd is authorised and regulated by the Financial Conduct Authority.

Permitted Business

Our permitted business is advising on and arranging savings and investments products, pensions, mortgages and non-investment Insurance contracts.

Client Classification

Unless otherwise agreed in writing, you will be treated as a retail client when you transact business with us.  This means that if something goes wrong you have the best protection available under the law.

Communications

Communications with you may be in many different formats including written, oral and electronic. You as Client agree to read all such material as presented, either electronic or written and to inform us of any discrepancies accordingly. Presentation of advice and “suitability reports” may be in Email, PDF or written report format. We will always require certain original documentation with original signatures returned to us via the post. You as Client agree to return any and all such papers as soon as is practicable.

Scope of Agreement / Service

We operate independently and therefore provide investment services based on a comprehensive and fair analysis of the relevant market and unbiased and unrestricted.

Period of this Agreement

This Agreement shall commence on the date of issue and shall continue in force until determined by either party giving immediate notice to the other in writing or until replaced by a later Agreement.  Determination may be at any time, without penalty and without prejudice to the completion of transactions already initiated on behalf of the Client. After termination of this Agreement Independent Pension Specialists will not execute any further transactions for the Client or provide any further advice or services except at Client’s specific request and subject to Client Agreement then current and a new agreement being entered into. Our services will continue to apply following a client’s death until the executors or administrators of the estate terminate the agreement.

Services to be provided  

This will be agreed with you before any work commences on your behalf.

Restrictions

Unless advised to the contrary, we will assume that you wish to place no restrictions on the types of investment we may recommend and in which you may subsequently invest.

Advice and Instructions

Any advice given to you by us shall be in writing or electronic such as email or PDF. We prefer our clients to give us instructions in writing, to aid clarification and avoid future misunderstandings. We will, however, accept oral instructions provided they are confirmed in writing. We may, at our discretion, refuse to accept instructions although such discretion shall not be exercised unreasonably. We will record all transactions on our files which, along with copies of relevant documentation, will be retained by us for a period of not less than six years. 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 withhold copies of these records if information to other parties would be disclosed.

Liaison with other advisers

Unless specifically instructed in writing to the contrary Independent Pension Specialists is authorised to liaise with Client's other professional advisers and shall not be required to verify any information provided by Client or Client’s other professional advisers and is expressly authorised to rely upon such information.

Confidentiality

All information furnished by Client to Independent Pension Specialists shall be treated as confidential and disclosed to other advisers, banks, investment managers, insurance companies, product providers and/or other organisations with which Independent Pension Specialists negotiates on Client’s behalf only to the extent that Independent Pension Specialists, in its absolute discretion, or it considers necessary or as required and allowed by law.

Paying for services

We will be paid for our work on your behalf. Please see the Independent Pension Specialists Keyfacts about our services and costs and Schedule of Administration fees for full details

All work is carried out on a fee basis. Where commission for certain transactional business is vailable to us we will use this to cover fees due.

You may ask us for an estimate of how much in total we might charge. You may also ask us not to exceed a given amount without checking with you first.

When using our planning and administration services, part or all of our fee is payable in advance of any work being carried out and is non-refundable. The exact amount payable in advance will be agreed before we commence work. You will be required to settle the payment of all other fees within 14 days of completion of our work.

Fees will be payable immediately on receipt by Client of the relevant invoice ('the due date') and Client agrees to pay interest to Independent Pension Specialists on any sums not paid within thirty days of a due date; such interest to be at a rate equal to the base rate charged by Bank of Scotland plc at the due date plus three percentage points.

Independent Pension Specialists reserves the right to charge for all time spent on work for or on behalf of clients.

VAT

The service that we provide is described as an ‘intermediation’ service. This means we provide advice with the intention of recommending a product solution. If we did not do this we would be liable for VAT on the fees charged. VAT is not applicable on the fees we charge for the intermediation services.

The charge made for an Ongoing Service is also VAT free provided it is in respect of this intermediation service.  Should you ever need to pay VAT we will notify you before conducting any additional work.

Material Interest

We will act honestly, fairly and professionally known as conducting business in ‘Clients best interest’ and “Treating Customers Fairly” regulations. Occasionally situations may arise where we or one of our other Clients have some form of interest in  business transacted for you. If this happens or we become aware that our interests or those of one of our other Clients conflict with your interest, 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.

Data Protection

Where investment or mortgage business services are provided to Independent Pension Specialists by third parties then circumstances may arise which warrant the disclosure of more than just your basic contact details.  On these occasions, you agree that personal information held by Independent Pension Specialists 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 provided to them on paper or electronically.

Personal information provided by clients will be retained on computer records and or on paper and will not be disclosed to other parties except to our auditors, lawyers or compliance consultants and any other organisation requiring access under the regulations or exercising their legal entitlement to such access or in accordance with requirements to disclose.  We agree that the data we hold shall be fairly and lawfully processed, processed for limited purposes, adequate relevant and not excessive, accurate, not kept longer than necessary but also as required by our regulator, processed in accordance with your rights, secure and will not transfer it outside the EEA without adequate protection. You or your appointed agent may inspect copies of contract notes, vouchers and entries in our books (manual and electronic) which relate solely to your investments on payment of the appropriate fee.

Money Laundering

We are obliged to conform to anti money laundering regulations which require us to confirm identity and place of residence of each investor. This may require sight of certain documentation, checking with credit reference agencies, the electoral role or directory enquiries to verify your details. A credit agency may record the search. Where we are required to verify your identity in accordance with the Criminal Justice Act 1993 and Money Laundering Regulations, we take no responsibility for any delay in investing funds.

Law

These Terms of Business are governed and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts.

Termination

The authority to act on your behalf may be terminated at any time without penalty by either party giving seven days ‘notice in writing to that effect to the other, but without prejudice to the completion of transactions already initiated.  Any transactions effected before termination and a due proportion of any period charges for services shall be settled to that date. Our services will continue to apply following a client’s death until the executors or administrators of the estate terminate the agreement.

Third Parties rights

A person who is not a party to this Agreement will have no right under the Contracts (Rights of Third Parties) Act 1999 (“the RTP”) to enforce any term of this Agreement.  This does not affect any right or remedy of such a third party, which is available apart from the RTP.

Declaration and Client consent

  1. I/we agree to engage Independent Pension Specialists Ltd and have received, read and understood this Terms of Business & Client Agreement document.
  1. I/we agree that fees will be charged in line with the Independent Pension Specialists Ltd Keyfacts about our services and costs and the Schedule of Administration Fees and that I/we are responsible for all such fees.
  1. I/we 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.
  1. I/we agree that where Independent Pension Specialists provides services to my spouse/partner as named below, my/our information can be disclosed to my/us spouse/partner.
  1. I/we agree that my spouse/partner as named below may provide instructions on my/our behalf.

Signed ...................................................................................Date.....................................................

Print Name .........................................................................................................................................

Signed ....................................................................................Date.......................................……….

Print Name .........................................................................................................................................

..................

One copy to be retained by the Client/Customer(s).  One signed copy to be retained by Independent Pension Specialists Ltd

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Log No. IPSL2017198C 19.9.2017

 

Contact us
Please complete the form below for any general query.
Please enter your name.
Please enter your email.

To view our Client Privacy Statement click here