Terms and Conditions

Cameron Trinity Limited is a firm of fee-based tax and financial planners. Our aim is to assist you, your family and your business to organise your financial affairs and to optimise your resources in order to achieve your stated objectives. This assistance may include the provision of investment advice, which is regulated by the 1986 Financial Services Act. The purpose of this letter is to set out the terms on which we shall act for you and, in particular, to ensure that you understand that you have the protection of the Financial Services Act (FSA) 1986 and Financial Services and Marketing Act (FSMA) 2000 in respect of investment business, but not in respect of non-regulated business.

Your Letter of Appointment and Terms of Business may be varied or superseded at any time in writing between us, but any such variation shall not affect rights or obligations of either of us accrued. You or we may initiate such variations.
You should note that financial planning is often a matter of opinion, and that another firm may take a different view from the one recommended by Cameron Trinity.

Code of Ethics and Professional Practice

The Director of Cameron Trinity is a Certified Financial Planner and abides by the Code of Ethics and Professional Practice as laid down by the Institute of Financial Planning (IFP). Financial plans developed by us for you will meet the international competence and performance standards that are laid down by the IFP.

Part 2 - Terms of Business Relating to Investment and Mortgage Advice

Those who advise on life assurance, pension or unit trust products are either independent advisers, or multi-tied or representatives of one company. Your adviser is independent and will act on your behalf in advising you on life assurance, pensions, unit trust products, other investments, mortgages and non-investments, mortgages and non-investment products. Because your adviser is independent s/he can advise you on products of different companies from the whole market.

Investment advice

The purpose of this section is to set out the terms on which we act for you in the provision of regulated investment advice and, in particular, to ensure that you understand that you have the protection of the FSA 1986 and FSMA 2000 in respect of investment business.

We are regulated in the conduct of investment business by the Financial Conduct Authority by whose rules we are bound. We provide investment advice on, and arrange deals in, life assurance, protection products, pensions, packaged investments, authorised open-ended collective investment schemes, investment trusts, and readily realisable securities. The underlying investments of any of these products may include cash, currencies, government and corporate bonds, equities, property or derivatives. We may also provide advice on mortgages and loans, both secured and unsecured on residential property.
As part of the financial planning process, we may also advise on tax planning and compliance issues, commercial loans, business matters and general financial matters that are not regulated under the Financial Services Act.

We will recommend investment products to you only as necessary to implement your financial plan, and only after obtaining the full details of your personal and financial circumstances required in order to develop your plan. The plan will provide the background for a “statement of demands and needs” as required by the FCA.

Your personal and financial circumstances details will be held in confidence on our files. In certain circumstances we shall arrange deals for you to your specific instruction without advice, but this should be regarded as the exception, not the rule.

You should note that, under the terms of this letter, you do not have legal rights of cancellation for units acquired in regulated collective investment schemes. These include authorised unit trusts, collective investment schemes under Sections 86, 87 or 88 of the Financial Services Act 1986 and UK open-ended investment companies.

Key Facts Documents

It is a requirement of the Financial Conduct Authority that two key facts documents be issued to clients before the purchase of a specific investment. These documents, known as “Key Facts about our services” and “Key Facts about the cost of our services”, will be given to you with these Terms of Business and should be read by you.

The first document, “Key Facts about our services” is known as “Initial Disclosure Document” (IDD). This will inform you as to whether we offer advice across the whole of the investment and insurance market, or from a range of products or from a limited number of providers, or from just one provider. We can confirm that we offer advice about products from the whole the market.

The second document, “Key Facts about the cost of our services” is known as the “Fees and Commissions Statement”. This will give you some idea of the cost of our services and how you will pay for advice. We have already confirmed to you that we charge a fee for our work and that we provide independent financial advice to our clients.

Key Features Documents

It is a requirement of the Financial Conduct Authority that a key features document is given to you at the time that the recommendations are made and should be read by you. Whilst the plan covers in principle the need for a particular product or investment, the key features document provides the details of the plan and sets out the aims of the product, the commitments of the client and the product provider, the possible benefits and costs, the risks attached to the product and any other information thought to be of help. The key features document usually contains a personalised illustration of the costs and benefits of the plan.

Authority to act

In order to avoid possible disputes, written instructions will normally be required before we act for you. These may take the form of meeting minutes drawn up by us and signed by you. We will however accept oral instructions provided they are followed up in writing. Any investment advice given to you will always be in writing.

Client investments

All investments will be registered in your name unless you first instruct us otherwise in writing. As intermediaries we never own any products that you may buy of transact through us.

WE WILL ONLY ARRANGE INVESTMENTS WHEN WE HAVE RECEIVED FROM YOU A CHEQUE MADE PAYABLE TO THE RELEVANT COMPANY. We will not be responsible for any cancellation of the deal by the investment company where we have forwarded the cheque to the company in good time. We shall forward all documents to you promptly. Where a number of documents relating to a series of transactions is involved, we will hold each document until the series is complete and then forward them to you.

Where we provide advice on a non-packaged investment product, such as an Enterprise Investment Scheme (EIS) or a Venture Capital Trust (VCT) you will not have post-cancellation rights. However, you will have a period of at least seven days from the date you sign the application to withdraw from the agreement.

We will review your investments at annually by writing to you with a statement of their current value and our recommendations for any changes. Note that we do not have discretion to make any changes to your investments without your specific authority.

Client money

PLEASE NOTE THAT WE DO NOT HANDLE CLIENT'S MONEY. We never handle cash or accept a cheque made payable to Cameron Trinity Limited unless it is a cheque in settlement of our fees. Cheques for premiums or investments must be made payable to the life assurance company or investment manager.

Personal Interest

We offer you independent advice, but in the event that we, or one of our other clients, have some form of interest in any business which we are transacting for you, we will advise you in writing of the interest and obtain your consent to proceed prior to the transaction.

Confidentiality and Rights of Inspection

All our records are confidential. We will not disclose any information concerning your affairs without your prior written confirmation, unless required to do so by our accountants, auditors or lawyers in accordance with the law.

We keep records of all our business transactions for at least six years, after which they may be destroyed. Records relating to pension transfers and opt-outs are retained indefinitely. You, or your appointed agent, may inspect contract notes, vouchers and entries in our books which relate solely to your investments. As we treat all our client records as confidential, we reserve the right to give you copies of your particular records if to do otherwise would be to allow access to files containing records about other clients. We recognise the Court of Appeal’s judgement in Durant v Financial Services Authority (2003) and reserve the right to send you, upon your written request and payment of a relevant fee, a copy of any document that affects your privacy, and not to send you any document which you may intend to use against us or a third party in the making of a complaint or the construction of a case for litigation because this has been judged outside the spirit and intent of the Data Protection Act 1998. You may clarify this issue with the Commissioners or the courts. Your file remains our property.

UK Money Laundering Regulations

We are obliged to conform to the UK Money Laundering Regulations and also adhere to the guidance notes from the Joint Money Laundering Steering Group. This process may require sight of certain documentation to verify the identity and place of residence of each client. We may also request that you inform us how any monies being invested were obtained/accumulated. If you provide false or inaccurate information and we suspect fraud or money laundering we will record this. We will not forward any applications or money to third parties/product providers until our verification requirements have been met. We take no responsibility for any delay where money laundering verification is outstanding. In circumstances where sufficient verification is not received in a timely manner after we have received completed applications, the application(s) and any monies may be returned to you.

Third Party Rights

These terms of business exclude any rights that may be conferred upon third parties by the Contracts (Third Party Rights) Act 1999.

Disability Discrimination Act

On request we can make the relevant information available to you.

Data Protection Act 1998 and Direct Marketing

In order to be able to advise you properly, we must obtain information from you about your financial and personal circumstances and hold this information on our files. However, under the Data Protection Act 1998 we need to have your signed agreement concerning the following:

  1. You agree that the information we hold about you can be held on our computers and/or paper files.
  2. You agree that any information that you give us may be disclosed to third parties (e.g. credit reference agencies and product providers) for the purpose of processing your application.
  3. You agree that 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 your attention to additional products or services that may be of benefit to you.

You also agree that for the purposes described above your data may be transferred to countries outside the European Economic Area (EEA). We may use and analyse your data, including the nature of your transactions, to provide you with information by post, telephone fax or email to service and update you, as well as informing you of new opportunities. If you would prefer to be excluded from these services, please write to us at The Chapel, Main Street Charlton Banbury OX17 3DP or email us. [Please be aware that telephone calls may be recorded and possibly monitored].

By signing your Letter of Appointment and Terms of Business you agree to the above. Withdrawal of your consent can be given to us in writing at any time.

Financial Services Compensation Scheme

If you make a valid claim against us in respect of investments that we have arranged for you, and if we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme (FSCS). This depends on the type of transaction and the circumstances of the claim.

The objective of the FSCS is to provide protection to consumers for business undertaken in the with UK regulated institutions.

  • Deposit taking firm: from 31.12.10 the limit is 100% of the first £85,000 per individual.
  • Insurance firm: 90% of the value of the claim without an upper limit.
  • Compulsory insurance claims are covered in full.
  • Investment firm: the limit is 100% of the first £50,000 per individual.
  • Mortgage advising or arranging: the limit is 100% of the first £50,000 per individual.

We can provide full details for you on request. Further information is available from the Financial Conduct Authority (0800 111 6788) and FSCS (020 7892 7300). The FSCS does not cover any products or advice that are not regulated by the Financial Services and Markets Act.

With effect from 31st October 2004, the Consumer Credit Act 1974 will not apply to mortgages. Thereafter if the mortgage we arrange for you is a regulated mortgage contract our advice to you, the information we disclose and any mortgage offer you receive will be subject to Financial Conduct Authority regulation and you will have the full protection of the Financial Services and Markets Act 2000 in our dealings with you. Please be aware that business mortgages, buy-to-let mortgages and loans for timeshare purchase are not regulated mortgage contracts.
We also maintain professional indemnity insurance that satisfies the level of cover stipulated by Financial Conduct Authority.

In the event of a frivolous or vexatious claim made to the FOS or to a court, we will seek to reclaim for our time, costs and expenses incurred in defending the complaint.
We may also provide advice on budgeting, cash flow, tax and estate planning and business planning. The Financial Services Compensation Scheme will not apply to these products or services.

Complaints

If you should have any complaint about the advice you receive or a product which you have bought please write to Compliance Officer, Linda Hulls, at The Chapel, Main Street, Charlton, Banbury, OX17 3DP. Additionally, if you are not satisfied with our handling of your complaint and in respect of the Compulsory Jurisdiction under section 226 of FSMA 2000 to which we have to adhere, you may write to the Financial Ombudsman Service Ltd (FOS), whose details are available on the Financial Conduct Authority’s website www.fca.org.uk.

These arbitration services are free and are binding on Cameron Trinity Limited. We reserve the right to seek reimbursement from you should a complaint you make be submitted to FOS or Court or similar system and found to be vexatious or frivolous. To be clear: this applies to circumstances surrounding any product or advice that we have provided either in the past or may provide in the future. If your complaint is not upheld we will recover whatever costs, if any, that we have incurred in relation to the complaint.

English Courts and Language

Business is only conducted on the understanding that disputes are settled according to English law and English Courts. All information, terms and conditions, and communications shall be in English.

Part 3 - Fees, Payment, Commencement and Termination

Introduction

Fees are payable by you for the following services provided by us:

  • Development of your Financial Plan;
  • Implementation of your financial plan as agreed with you;
  • Additional work as agreed with you from time to time;
  • Monitoring, reviewing and administering your realisable assets. We will make a charge based on the time spent on your affairs and the nature of the work undertaken.

Generally our fees are based on the degree of complexity involved and the time taken to do the work, although some work is charged on a fixed fee basis. On the reverse of our fee schedule we explain how hourly rates are charged. Our fees and charges will be reviewed on the 1 January each year. There may be an additional charge for stock broking fees for investment in direct equities.

Ongoing research into the world’s economies, investment opportunities, legislative and taxation changes and investment management companies is not normally charged directly to ongoing clients, unless we are asked specifically to review a product or investment by the client.

Payment of fees

The fixed fee for your financial plan is payable upfront on presentation of an invoice.
All other work is charged by reference to our hourly rates and is payable on presentation of an invoice, usually every three months. In cases where special work is undertaken an interim bill may be rendered. All invoices are payable on presentation.
Please note that if you ask us to set up an investment or insurance product and decide not to proceed or seek our advice and arrange for the investment to be set up by another party we will charge for our advice in accordance with our fee schedule.

Commission

Commissions and other benefits may be paid to us in respect of transactions which we have arranged for you. You will be advised in writing of these amounts. The commission or benefit will be retained by us and a credit equal to such a value of commission will be used to offset fees that would otherwise be chargeable. You should note that the commission or benefit is not payable to you under any circumstances. We reserve the right not to record commission sums of under £25 on individual records.

If we receive commission from the issuer of a security or from another intermediary we will inform you. We reserve the right to act as agent for third parties and to share any commission with them.

Exceptionally, we may agree to accept indemnity commission as remuneration for arranging life assurance or other contracts on your behalf. If you subsequently stop paying the premiums and in consequence we have to refund commission paid to us, we reserve the right to charge you a fee equal to the amount returned.

Accounting and reconciliation

We will carry out a reconciliation of your notional fee account at least annually and if there is a shortfall between our fees payable and the remuneration received, we will raise an invoice for the difference. If your notional account is in credit, the balance will be carried forward to the following year. At our annual meeting and plan review we will discuss the level of the monthly retainer to decide if it should be increased or decreased (subject to the monthly minimum).

Commencement and Termination

You, or we, may end our authority to act on your behalf at any time provided it is given in writing. No further work will be taken on your behalf, although we will ensure that any necessary administrative matters are dealt with. On completion of these matters if our fees exceed the value of remuneration received, we shall invoice you for work done. If the value of remuneration received exceeds the fees due, the balance will be retained by Cameron Trinity Limited. If we have arranged for indemnity commission to be offset against fees and in the event of commission clawback for any reason, our fees will become payable by you within 14 days.

Important information about Cameron Trinity

The company's offices currently operate at the following location, and meetings are generally held at our offices.
The Chapel
Main Street
Charlton
Oxfordshire
OX17 3DP

T 01295 810 071
F 01295 810 901
E: Linda@camerontrinity.com

Our hours of business are Monday to Friday 9 am to 5.30 pm. Telephones are switched to an answering machine outside normal office hours, and overnight messages are dealt with the next working day.

Our bank details: Cater Allen Private Bank
Account Number 53573833
Sort 16-57-10
Ref: (Client name or invoice number)

The Managing Director of the company is Linda Hulls BA(Hons), CTA, FIFP, CFP, APFS. The company’s registered number is 3222471, and its registered Office is The Chapel, Main Street, Charlton, Banbury, OX17 3DP. Company and client records are held at The Chapel.

The company is authorised and regulated by the Financial Conduct Authority for investment business. Its FCA membership number is 183041.

© Copyright 2012 Cameron Trinity Ltd.
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