Client Agreement

This agreement is issued on behalf of Torquil Clark of St Marks, Chapel Ash, Wolverhampton, West Midlands, WV3 0TZ.

Regulatory Statement

Torquil Clark Financial Planning is authorised and regulated by the Financial Services Authority. The Financial Services Authority (FSA) 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/register FSA No 145789 or by contacting the FSA on 0845 606 1234.

Permitted Business

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

Whose products do we offer?

We offer savings and investment and pension products from the whole market. For non-investment insurance products, such as life insurance, critical illness insurance, income protection insurance, buildings & contents insurance and private medical insurance, they are selected from a range of insurers.

Services to be provided

Our services comprise the following stages:-

Information gathering – before we can provide advice we need to have a detailed understanding of your current position, existing financial arrangements, attitude to risk and personal objectives.

Advice – a written report will be thoroughly discussed and ideas fine tuned during the subsequent meeting. We will, where it is appropriate, work alongside other professionals such as accountants and solicitors to ensure a co-ordinated approach from your team.

Implementation – rearranging your financial affairs in line with the agreed strategy.

With regards to investments which we have arranged for you, these will not be kept under review unless agreed with you in writing. However, 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 recommendations.

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. We will assume that you wish to place no restrictions on the markets in which transactions are to be executed. A full listing of products is available from your adviser upon request.

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 computerised records relating to your transactions. We reserve the right to withhold copies of these records if information to other parties would be disclosed.

Client Money & Assets

Torquil Clark Financial Planning 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 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.

Client classification

Each client with whom the firm does business is categorised to identify the level of regulatory protection to be applied. We propose to classify you as a ‘Retail Client’ for Investment purposes.

Conflicts of Interest

We will act honestly, fairly and professionally known as conducting business in ‘Client’s best interest’ 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.

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.

Termination of Authority

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.

Right to cancel

In most cases you can exercise a right to cancel a contract recommended to you. In general terms you will normally have a 30 day cancellation period for a life, pure protection, payment protection or pension policy and a 14 day cancellation period for all other policies.

However, there will be occasions where no statutory rights are granted, however this will be explained before any contract is concluded.

Communications

We will communicate with you in English both verbally and written for the sending and reception of orders. To avoid any doubt instructions should be issued in writing.

Data Protection Statement

The information you have provided is subject to the Data Protection Act 1998 (the “Act”). By signing the Client Fee Agreement document you consent 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.

“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 at St Marks, Chapel Ash, Wolverhampton, West Midlands, WV3 0TZ.

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 legitimate purposes. 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.

How we charge for our services

Not all firms charge for advice in the same way. 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. Whether you buy a product or not, on completion of our work, you will pay us a fee for our advice and services.

Full details of our fees and methods of payment of these fees are detailed on our Client Fee Agreement.

Anti Money Laundering

When you enter into a transaction with Torquil Clark Financial Planning, we are required by law to check your identity. In order to verify the information you provide, we may make searches about you with a credit reference or fraud prevention agency. The agencies will record the details of the search whether or not a transaction takes place. Scoring methods may be used as part of this process. We may ask you to supply at least one original document for confirmation of your identity, address or both, which we will use along with any electronic checks we may perform. Any documents provided to us will be recorded and copied for audit purposes as part of our Anti Money Laundering requirements.

What to do if you have a complaint

If you wish to register a complaint, please write to the Compliance Manager, Torquil Clark Financial Planning, St Marks, Chapel Ash, Wolverhampton, West Midlands WV3 0TZ.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

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

We are covered by the Financial Services Compensation scheme (FSCS) if we cannot meet our obligations. This is dependent upon the type of business and the circumstances of the claim.

Most types of investment business are covered up to a maximum limit of £50,000.

Insurance advising and arranging is covered for 90% of the claim, without any upper limit.

Further information about this compensation scheme arrangement is available from the FSCS.

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

Torquil Clark Financial Planning 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.

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

The Client Agreement will come into effect from the date of issue.

V1 January 2011