These Terms of Business provide the terms upon which Hurst Financial Consultancy Ltd (the Firm) will conduct business with a client and will be effective immediately upon issuance remaining in force until such time as being terminated which can be by the decision of either the Firm or the client and this can be without notice but must be immediately confirmed in writing. Such termination will not be to the prejudice of the completion of transactions already initiated with these being processed in accordance with these Terms of Business. The Firm retains the right to issue revised Terms as might be necessary with such revised Terms being effective for advice and transactions then given and made.
Where appropriate, and before effecting a transaction, the Firm will determine the investment objectives of the client.
The services provided by the Firm include advising on and/or implementing the buying, selling, subscribing to or exercising your rights in connection with any life assurance, unit or investment trust, PEPs, ISAs, pension or annuity contract and Regulated Mortgage Contracts or other readily available investment or financial product. The Firm is regulated by the Financial Services Authority (FSA) and you will be advised of any advice given, or service offered, that is not subject to the requirements of the FSA. Unless specified otherwise, it is the determination of the Firm that the client is a private customer as so defined by the FSA.
Any advice given on investments in Life Policies, units in a Regulated Collective Investment Scheme, an interest in an Investment Trust Savings Scheme, Stakeholder Pension Schemes and Regulated Mortgage Contracts will be independent and will not be restricted to any particular product provider.
The Firm will consider there to be no restrictions on the types of designated investment or the markets in which the client wishes to invest unless so specified by the client.
Remuneration for the services provided by the Firm can be by way of a predetermined fee, time based fee remuneration or commissions paid directly by an insurance company, investment company or other provider of financial products or can be by a combination of these methods. If the client wishes remuneration to be by way of a fee, the method of calculation, anticipated amount and arrangements for payment will be agreed between the Firm and the client in advance of the provision of the relevant services. Notwithstanding the availability of these differing remuneration methods, unless agreed otherwise, remuneration will normally be achieved from commission from the product provider. Dependent upon the product, the basis of the amount, or the exact sum, is to be disclosed in writing to the client before the transaction is effected. Where appropriate, reference should be made to the separate Initial Disclosure Document and the Fees and Commission Statement.
Where commission has been received by the Firm for the implementation of a life or pension policy, and you subsequently cease to pay the premiums, the provider will reclaim all or a part of the commissions already paid. We therefore reserve the right to charge you a fee up to or equal to the amount of the reclaimed commission. The period over which such a charge varies but we will confirm the exact period and any potential liability upon request. WE WILL NOT CHARGE A FEE FOR THE CANCELLATION OF ANY POLICY DURING THE STATUTORY CANCELLATION PERIOD FOLLOWING THE IMPLEMENTATION OF A POLICY.
Prior to the implementation of a recommendation to invest or to purchase a product, the Firm will advise the client of any cancellation rights, or their absence, that might be applicable..
The Firm will account to the client for any transactions executed on their behalf and will make arrangements for investments, or other, contracts, to be registered in the name of the client unless otherwise advised.
Occasions might arise where we, or one of our other customers, will have some form of material interest in business that we are transacting for you. If this happens, or we become aware that our interests or those of one our other clients conflict with your interests, we will inform you in writing and obtain your consent before we carry out your instructions.
Should you have any complaint about the advice you have received, or about a product you have bought, please write to Michael Hurst, the Compliance Officer, at the address given overleaf. He will provide you with written details explaining the complaints procedure. If the Firm is unable to resolve your complaint, you will be advised of rights of recourse to the Financial Ombudsman Service
If you make a valid claim against the Firm in respect of advice provided, or the buying or selling of investments, and the Firm is unable to meet its liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme. Advising and arranging Investments and mortgages is covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000. Full details of the cover provided by the Scheme are contained in a leaflet that we will send to you at your request.
The Firm does not hold clients´ money. Cheques in payment of investments or other third party services must be made payable to the relevant provider.
In order to advise you properly, the Firm must obtain certain information about the client´s financial and personal circumstances to determine the suitability for particular products and services. Acceptance of these Terms of Business confirm agreement that:
The information we hold about you can be held electronically, on paper, or by a combination of these.
The information can be disclosed to Third Parties for the purposes of processing your application or in satisfying the requirements of any Financial Services regulatory authority or the regulatory processes of the Firm itself.
The Firm can use the information provided to contact the client by telephone, post, facsimile, or e-mail to bring attention to additional products or services that might be of benefit. Agreement to such contact can be withdrawn by the client at any time upon notification to the Firm.
All data held is subject to the provisions and requirements of the Data Protection Act 1998 as determined by the Information Commissioner with whom the Firm is registered.