When advising you on financial matters:
|
| 1 | In accordance with our professional duty, we will recommend whatever course of action we consider to be in your best interests. This may mean advising you to do nothing. |
| 2 | In order to ensure that the advice which we provide takes account of all relevant factors we will request information from you about your personal and financial situation and objectives before offering any advice. In all but the smallest transactions we are usually also required by the Money Laundering Regulations 1993 (which are designed to prevent the circulation of monies arising from crime, drug trafficking and terrorism) to ask you for proof of identity |
| 3.1 | We make no charge for an initial consultation. If you then instruct us to arrange investments for you. this will usually result in our being paid commission by the product provide or stockbroker and this commission will usually be sufficient to pay our remuneration. Before you enter into any commitment, we will inform you of the amount of commission which will become payable and will discuss with you whether you would prefer us to retain the commission (or an appropriate proportion of it) in settlement of our remuneration, or to charge you a fee. If the commission is in excess of what is necessary to provide us with a reasonable remuneration, we will pay the balance over to you. If, however, you instruct us to undertake work which will not give rise to commission, we will agree an acceptable fee with you before proceeding. This fee will be based among other things on the complexity of the matter, the specialist skills required the responsibility involved and the time spent. |
| 3.2 | The procedure described in paragraph 3.1 above will also apply in circumstances where we work on your behalf with external specialists, such as stockbrokers and financial advisers, where they pay us a proportion of the commission which they receive. |
| 4 | If you terminate prematurely a policy or investment in respect of which commission has been paid and, as a result we are obliged to repay to the product provider commission which we had retained as remuneration, we will have to ask you to make good our loss. |
| 5 | Before executing any instruction to purchase investments we will request you to put us in funds to the value of the purchase price if we do not already hold sufficient funds on your behalf. If after selling any security through us you receive any dividend or interest payment which is subsequently reclaimed from us by the purchaser, you will be asked to account to us for such payment on demand. |
| 6 | Monies received from you or on your behalf and income received by us from your investments will be held in a client bank account in accordance with the Solicitors’ Accounts Rules and we will account to you for such monies and for the interest earned on them or an equivalent sum to that which would have accrued had the money been kept on deposit, in accordance with the Solicitors’ Account Rules. |
| 7 |  | We will not review your investments. | | We will review your investments approximately every twelve months (more regularly when we undertake discretionary portfolio management) and will report to you in writing with a statement of the current values and any recommendations for any changes or arrange to meet you to discuss any such recommendations. | |
| 8 | | We will arrange for all investments (certificated and uncertificated) to be registered in your name | | We will forward investment certificates or other evidence of title to investments to you for safe-keeping | | We will hold investment certificates or other evidence of title to investments in safe custody on your behalf, providing you with an up-dated schedule: of such documents each year. | | As instructed, we will arrange for [certificated holdings] [ uncertificated investments] to be registered in the name of....................... [usually, nominees]. | | please ignore whichever is inappropriate | |
| 9 | Our financial adviser will be responsible for conducting financial business on your behalf. Your instructions will be accepted either in writing or verbally. Any complaints should be addressed to the partner responsible for financial services. |
