Client Agreement
Torquil Clark Investments is a trading name of Torquil Clark Ltd which is authorised and regulated by the Financial Services Authority as an Independent Financial Adviser under the Financial Services & Markets Act 2000 for arranging (bringing about) deals in investments, life and pension policies. We will act on your behalf in providing you with information on life assurance, pensions or investment products. As we are Independent we provide you with information from the whole of market. Our FSA number is 145789. You can check these details on the FSA Register by visiting their website www.fsa.gov.uk/register or by contacting FSA on 0845 6061234. We are located in the UK. We will communicate with you orally and in writing. The provision of this Client Agreement will take effect immediately they are provided to you.
Transactions taken out on an execution only basis through Torquil Clark Investments will be carried out without advice on their merit or suitability.
Occasions can 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 of our other customers conflict with your interests, we will inform you and obtain your consent before we carry out your instructions. If we can continue to act for you, we will tell how we will ensure your interests are protected. On occasion we may have to cease acting for you, but will help you find assistance from elsewhere, if you want us to.
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 that will be completed according to this Client Agreement unless otherwise agreed in writing. You will be liable to pay for any transactions made prior to termination and any fees that may be outstanding. Other than as stated in this paragraph, there are no cancellation rights that apply to this Client Agreement.
It is important that you read the Product Provider’s Key Features Document carefully and we would particularly draw your attention to the section on Cancellation and Withdrawal Rights. Please note that as you are investing as an Execution Only client your cancellation and withdrawal rights may be affected.
Torquil Clark Investments have decided not to seek authorisation to handle clients’ money. We never accept a cheque made payable to this company or handle cash unless solely for our fees. All investments will be registered in your name unless otherwise agreed in writing. We never own the investments or policies that you buy through us. NB: In the case of rebated commissions, any commission received from product providers is the property of Torquil Clark Ltd until it is actually paid into the account of the client.
Torquil Clark Investments may, from time to time, receive fees from product providers for advertisements in the company brochure, bulletins, website or other material. The existence of an advertisement should not be taken as an endorsement of any particular product by Torquil Clark Investments.
We will forward to you all documents showing ownership of your investment as soon as practicable after we receive them. Where a number of documents relating to a series of transactions are involved we will normally hold the documents until the series is complete and then forward them to you. We cannot accept responsibility for delivery of any applications, cheques or other documentation once they have been entrusted to the Royal Mail or other delivery service.
The information you have provided is subject to the Data Protection Act 1998. By confirming your authorisation to proceed you are consenting to us or any company associated with us for processing, both manually and by electronic means, your personal data for the purposes of providing advice, administration and management. It may also be used for statistical purposes. Personal information provided may be retained for at least six years, and will not be disclosed to other parties except other businesses within the same group, representatives of our compliance advisers, our auditors, and any organisation requiring access to such information for regulatory purposes only, or any person having a legal entitlement to access. We may search the files of credit reference agencies who will record the search. You have the right to inspect copies of any papers or computer records relating to your transactions. We do, however reserve the right not to provide you with copies of records if information relating to other parties would be disclosed. To assist us in providing you with a comprehensive service and to keep our records as up to date as possible, please notify us of any changes to your personal circumstances, e.g. name change, change of address, etc., as soon as possible.
We may use the information that we hold about you to contact you from time to time by post, fax, email or telephone to bring to your attention additional products or services, which may be of benefit to you. If you do not wish your information to be used in this way please advise us.
We reserve the right to monitor and record telephone calls for regulatory and training purposes as well as having an accurate record of your instructions.
When we have arranged any investments or policies for which you have given us instructions we will not give you any further information unless specifically agreed.
If we undertake a transaction on your behalf then you will receive information about the commission we receive. If we have agreed to rebate all or part of our initial commission, this will normally be sent to you within thirty days of receipt by us. Please note that renewal commissions are not rebateable. We charge an up front fee of £25 for Individual Savings Account applications which are paper based and are not transacted via Fidelity Funds Network.
Where we arrange for you to take out a life policy, it is possible that we may rebate a portion of the initial commission we receive. Should you subsequently cease to pay premiums on the policy and in consequence we are obliged to refund commission that has been paid to us, we will charge you a fee equivalent to your proportion of any commission we ourselves have to pay. In the event of the aggregate commission exceeding £2,000 on policies commenced by an individual, spouse or immediate family during a 12 month period, We will spread the rebate over a period of 24 months, 1/3 in month 1, 1/3 in month 12, and 1/3 in month 24.
We maintain professional indemnity insurance, this covers our legal liability in the event of our negligence and is in addition to our contribution to the Financial Services Compensation Scheme.
This document should be read in conjunction with the Key Facts About Our Services document.
Torquil Clark Investments is a trading name of Torquil Clark Ltd which is Authorised and Regulated by the Financial Services Authority. Registered in England No. 2446388. St Marks, Chapel Ash, Wolverhampton, West Midlands WV3 0TZ. Tel: 0800 072 3186.
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about our services |
Torquil Clark Investments |
St. Marks, Chapel Ash, Wolverhampton
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1. The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.
2. Whose products do we offer?
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We offer products from the whole market. |
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We only offer products from a limited number of companies. Ask us for a list of the companies and products we offer. |
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We can only offer products from a single group of companies. |
3. Which service will we provide you with?
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We will advise and make a recommendation for you after we have assessed your needs. |
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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. |
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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:
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4. What will you have to pay us for this service?
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Before we provide you with advice, we will give you our keyfacts guide ‘about the cost of our services’. |
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We will tell you how we get paid, and the amount, before we carry out any business for you. |
5. Who regulates us?
Torquil Clark Investments is a trading name of Torquil Clark Ltd, St Mark’s, Chapel Ash, Wolverhampton, West Midlands WV3 0TZ is authorised and regulated by the Financial Services Authority. Our FSA Register number is 145789.
Our permitted business is advising on and/or arranging pensions, investments and unit trusts.
You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register 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 The Compliance Manager, Torquil Clark Life Insurance, St Mark’s, Chapel Ash, Wolverhampton, West Midlands WV3 0TZ |
| …by phone | Telephone 01902 705815 |
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 the first £30,000 and 90% of the next £20,000, so the maximum compensation is £48,000.
Insurance
Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.
Further information about the compensation scheme arrangements is available from the FSCS.
