Terms and Conditions

Client Agreement Letter (version March 2011)

Authorisation Statement
One Life Financial Planning Limited is Authorised and Regulated by the Financial Services Authority. The Financial Services Authority regulates the financial services industry in the UK and their address is 25 The North Colonnade, Canary Wharf, London, E14 5HS. You can check this on the FSA’s Register by visiting the FSA's website www.fsa.gov.uk FSA Number 436140 or by contacting the FSA on 0845 606 1234.

Permitted Activities
One Life Financial Planning Ltd is authorised to advise on and arrange life insurance, pensions and investments in authorised Unit Trusts and Investment Trusts, Personal Pensions, Individual Savings Accounts and other regulated investments. We do not provide advice on occupational pension transfers and membership of defined benefit occupational schemes. We will where appropriate refer you to a Pension Transfer Specialist. We do provide advice on and arrange Mortgages but do not provide advice on Lifetime Mortgages or Home Reversion Schemes.

Agreement To These Terms
We will, provided you are happy with these terms ask you to sign the bottom of this letter to confirm receipt and acceptance of the terms set out. This agreement will be relied upon in the event of a dispute until terminated by either party. If initiated by us, termination will be without prejudice to the completion of transactions already initiated or in progress.

Client Categorisation
Each client with whom the firm does business is categorized to identify the level of regulatory protection to be applied. We believe in providing our clients with full regulatory protection and we propose to classify you as a Retail Client.

Material Changes
In the event of a material change in the terms on which One Life Financial Planning Ltd wish to undertake business with you then you will be issued with a new Client Agreement Letter before being provided with any further investment service. We do not assume acceptance unless we have received a signed copy of this document.

Services To Be Provided
With regards to investment which we have arranged for you, these may be kept under review in line with the agreed level of service to be provided. 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.

On issue of this letter any subsequent advice or recommendation offered to you will be based upon 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. We will issue you a suitability report to confirm our recommendation. Unless confirmed we will not place any restrictions on our recommendation.

One Life Financial Planning Limited does not handle clients’ money. We never handle cash or accept a cheque made out to us, unless the cheque is in settlement of charges or disbursements for which we have sent you an invoice.

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 you all documents showing ownership of your investments as soon as is practicable after we receive them; where a number of documents are due involving a series of transactions, we normally hold each document until the series is complete, then forward them to you.

Advice and Instructions
Any advice given to you by us shall be in writing. 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 computerized records relating to your transactions. We reserve the right to withhold copies of these records if information relating to other parties would be disclosed.

Material Interests
We will act honestly, fairly and professionally known as conducting business in “Clients best interest” regulations. Occasionally situations may arise where we or one of our other clients have some form of interest in business transacted by you. If this happens or we become aware that our interests or those of one of our 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.

In accordance with the rules of our regulator, The Financial Services Authority, we are prohibited from accepting any payment (commission or other non-monetary benefits) which is likely to conflict with the duty of the firm to its clients.

Right To Cancel
We will inform you of your statutory right to cancel. The Distance Marketing Directive normally grants you 30 days in which you may cancel a life or pension contract. There will be occasions where no statutory rights are granted; however, this will be explained before any contract is concluded. Finally, any contracts arranged at your explicit consent (normally referred to as execution only) do not provide cancellation rights.

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 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 Financial Services Authority 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.

In order to provide services to you we may be required to pass your personal information to parties located outside of the European Economic Area (EEA) in countries that do not have Data Protection Laws equivalent to those in the UK. Where this is the case we will take responsible steps to ensure the privacy of your information.

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 committing or alleged committing 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.

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 01656 785700 or in writing to The Dunes Business Centre, 267 New Road, Porthcawl, Bridgend CF36 5BG

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 purpose. 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.

Law
This Client Agreement is governed and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts.

Force Majeure
One Life Financial Planning Limited shall not be in breach of this Agreement and shall not incur any liability to you if there is any failure to perform its duties due to any circumstances reasonably beyond its control.

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.

Professional Indemnity Insurance
One Life Financial Planning Ltd carries professional indemnity insurance to the value of £1,600,000 in order to protect ourselves and our clients in the event of error.

Taxation Advice
We cannot accept responsibility for taxation advice. Clients must be responsible for their own taxation position and we strongly recommend that clients take advice on taxation matters from a qualified accountant.

Proof of Identity
Where we are required to verify your identity in accordance with the Criminal Justice Act 1993 and the Money Laundering Regulations, no investment will be made until such verification has been obtained. We cannot therefore accept responsibility in instances where investments are delayed due to these regulations.

Credit Referencing
We will where required make searches using credit referencing agencies who will supply us with credit information. The agencies will record details of the search whether or not an application proceeds. Credit searches and other information which is provided, may be used by One Life Financial Planning Ltd and other companies if credit decisions are made about you, or other members of your household.

Communications
We will communicate with you in English, both verbally and in writing for the sending and receiving of orders. To avoid any doubt, Instructions should be issued in writing. We will agree your preferred method for contact; however, for marketing purposes contact will be made by email, telephone, post or text.

Service Agreement
At One Life Financial Planning Limited we offer three levels of service. We will undertake a full discussion at the initial meeting as to the merits of each of these and you will be encouraged to choose the level which most suits your requirements and service levels required in your own particular circumstances. You will be asked to sign to your agreement of the terms offered for the service level chosen and if appropriate a Retainer Fee Agreement will be drawn up. Our aim is to ensure that all clients are provided with this opportunity and be fully informed as to the service level they can expect to receive from One Life Financial Planning Limited.

Remuneration
If we arrange for you a life policy from which we receive initial commission and subsequently you cease to pay premiums, which results in us refunding the initial commission which has been paid to us by the provider, we reserve the right to recover from you an amount equal to the amount we have had to refund. The amount recoverable and the timeframe over which it is recoverable are dependent on the product chosen. Further details of the amount and timeframe will be notified to you within the Suitability Letter we send to you confirming our recommendations prior to the conclusion of the contract. We will not charge any fee if you exercise your right to cancel the policy in accordance with the cancellation notice sent to you by the policy provider.

DECLARATION

Client Consent
This is our standard client agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully before signing. If you do not understand any point please ask for further information.

	Please tick this box if you do not consent to us or any company associated with us processing any such sensitive data.

	Please tick this box if you do not wish for us or any company associated with us to contact you for marketing purposes by email, telephone or text.

I have chosen for the firm to be remunerated by;

	Payment of a Fee

	Payment by commission (through product charges)

	Payment by a combination of commission and fee

Client Name(s)

Client Signature(s)

Date of issue

Date of signing

TREATING CUSTOMERS FAIRLY
One Life Financial Planning Limited are committed to providing excellent service and ensuring that our clients clearly understand the reasons behind our advice and recommendations. In addition, we aim to provide clients with the right amount of information, so they can make informed decisions in regard to their financial circumstances, needs and priorities.

You may receive a Client Questionnaire in the future. Completing it means you will help us to provide an excellent service on an ongoing basis and it also allows us to measure the effectiveness of our training and development programme. If you would like to know more please follow this link: www.moneymadeclear.fsa.gov.uk

	about our services and costs
One Life Financial Planning Ltd	The Dunes Business Centre, 267 New Road, Porthcawl, CF36 5BG
1. The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services. This document has been designed by the FSA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.
1. Whose products do we offer?

Investment

We offer products from the whole market.

We only offer products from a limited number of companies.
These include our own product(s) but our recommendation will be made following an analysis of our entire range of products.
Ask us for a list of the companies and products we offer.

We can only offer products from a single group of companies.

Insurance

We offer products from a range of insurers for non-investment life assurance (including mortgage protection), critical illness protection and income protection.

We only offer products from a limited number of insurers.
Ask us for a list of the insurers we offer insurance from.

We only offer products from a single insurer.
We only offer our own products.

Mortgages

We offer mortgages from the whole market.

We can only offer mortgages from a limited number of lenders/companies.
Ask us for a list of the lenders/companies we offer mortgages from.

We can only offer a limited range of mortgages from a single lender [or]
We only offer our own mortgages.

3. Which service will we provide you with?

We offer a full financial planning service or alternatively can provide specific advice on:

Savings and investment.
Protecting yourself and/or loved ones in the event of death or serious illness or disability.
Retirement planning but this will not include occupational pension transfers.
We may refer you to a Pension Transfer Specialist in relation to the transfer of occupational pension schemes, if appropriate to do so.

Investment

We will advise and make a recommendation for you after we have assessed your needs.

You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances but we will not:

Conduct a full assessment of your needs;
Offer advice on whether a non-stakeholder product may be more suitable.

Insurance

We will advise and make a recommendation for you after we have assessed your needs for non-investment life assurance (including mortgage protection), critical illness protection and income protection.

You will not receive advice or a recommendation from us [for] [list the types of non-investment insurance contracts]. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

Mortgages

We will advise and make a recommendation for you after we have assessed your needs.

4. What will you have to pay us for our services?

Investment

We will discuss your payment options with you and answer any questions you have.
We will not charge you anything until you have agreed how we are to be paid.

Paying by fee

Whether you buy a product or not, you will pay us a fee for our advice and services. The fee will not exceed the rates shown in this document. We will agree the rate we will charge before beginning work and we will tell you if you have to pay VAT. The fee will become payable on completion of our work. If we also receive commission from the product provider when you buy a product, we will pass on the full value of the commission to you in one or more ways. For example, we could reduce our fees; or reduce your product charges; or increase your investment amount; or refund the commission to you.

Our typical charges are:

Discovery	£0 - £200 per hour
Research & investigation	£100 per hour which can be offset through commission
Financial Plan	£200 per hour which can be offset through commission
Implementation	Up to 4% of the amount invested either as an agreed fee or commission
The Client Relationship	0.5% customer agreed fee per annum taken from your investment

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.

Paying by commission:

If you buy a financial product, we may receive commission on the sale from the product provider. Although you pay nothing to us up front, that does not mean our service is free. You still pay us indirectly through product charges. These charges reduce the amount left for investment. If you buy direct, the product charges could be the same as when buying through an adviser, or they could be higher or lower.

The amount of commission we receive will vary depending on the amount you invest and how long you invest or your age at investment.

For example
If you invest £10,200 in an individual savings account (ISA) we would receive commission of 3% of the amount invested (£306.00) and 0.5% of the value of the fund every year, roughly £51.00 every year but this amount will depend on the value of the fund which may be higher or lower.
If you pay £100 per month into a personal pension with a term of 25 years then we would receive commission of £300 initially and 0.5% of the fund value per year.
If you pay £100 per month for a Whole of Life policy then we would receive £1,272 initially plus 2.5% of all payments from year 4.
We will tell you how much the commission will be before you complete any transaction, but you may ask for this information earlier. Any commission received may cover the cost of ongoing reviews but we will tell you if this is the case when we agree the level of service suited to your requirements.

We may charge you a combination of fee and commission. The actual amounts will depend on the service provided to you, but will be in line with the arrangements set out in the sections headed “Paying by fee” and “Paying by commission (through product charges)”.

Insurance

A fee

No fee

You will receive a quotation, which will tell you about any other fees relating to any particular insurance policy.

Mortgages

No fee. We will be paid by commission from the lender or company that buys your home.

A fee

You will receive a key facts illustration when considering a particular mortgage, which will tell you about any fees relating to it.

5. Who regulates us?

One Life Financial Planning Ltd of The Dunes Business Centre, 267 New Road, Porthcawl CF36 5BG is authorised and regulated by the Financial Services Authority. Our FSA Register number is 436140
Our permitted business is advising and arranging Investments, Pensions, Mortgages and Non Investment Insurance.
You can check this on the FSA’s Register by visiting the FSA’s Website www.fsa.gov.uk or by contacting the FSA on 0845 606 1234.

6. What to do if you have a complaint

If you wish to register a complaint, please contact us:
In writing: Write to	Mr Christopher Ellis, One Life Financial Planning Ltd, The Dunes Business Centre, 267 New Road, Porthcawl CF36 5BG
By phone: Telephone	01656 785 700
By Fax:	0870 460 3552
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. 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.

Investment

Most types of investment business are covered for 100% of £50,000.

Insurance

Insurance advising and arranging is covered for 100% of the claim without any upper limit.

Mortgages

Mortgage advising and arranging is covered for 100% of £50,000.

Further information about compensation scheme arrangements is available from the FSCS.