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Terms of Business

At Apex CB Financial Planning we believe that it’s important that you know from the outset of our relationship how we will act for you, the service that you can expect and how you will pay for it. If any of the information here is not clear please do not hesitate to ask us.

Treating our customers fairly

We recognise that our clients and our reputation are our two most important assets.  We are committed to providing the highest standard of financial advice possible. As a firm, we take very seriously the requirements of our regulator, the Financial Conduct Authority; in particular, the requirement to treat our clients fairly. As our client we will treat you fairly and promise that we will always:

  • Make sure we deliver the service we have agreed with you
  • Offer financial advice and solutions that are appropriate and suitable for your needs
  • Aim to resolve any mistakes as quickly as possible and fairly to all parties
  • Act with integrity, diligence, timeliness and fairness in all our dealings with you

The Financial Conduct Authority (FCA)

The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services. Apex CB Financial Planning Ltd is authorised and regulated by the FCA. Our FCA Register number is 507964. You can check this on the FCA’s Register by visiting the FCA’s website www.fsa.gov.uk/register or by contacting the FCA on 0800 111 6768

Our permitted business is to provide investment advice and arrange life assurance, pensions, collective investments (e.g. unit trusts, investment trusts and OEICs), individual savings accounts, Mortgages and general insurance.

Which service will we provide you with?

We provide a full financial planning and advice service, which means that we will take time to get to know your circumstances, needs and aspirations, and will consider your attitude to risk and experience in dealing with financial matters. We will then advise you and make a recommendation after we have assessed your needs. We will not just provide you with a selection of products and expect you to decide which is best.  This means that we are liable for the suitability of our advice and we take this responsibility very seriously.

If you don’t need a full financial planning service, alternatively we can provide specific advice on:

  • savings and investment,
  • protecting yourself and/or loved ones in the event of death, serious illness or disability,
  • retirement planning.

Whose products do we offer?

We offer an independent advice service. We will recommend investments based on a comprehensive and fair analysis of the market, and will place no restrictions on the Investment Markets we will consider before providing investment recommendations, unless you instruct us otherwise.  We will however, only make a recommendation when we know it is suitable for you.

We understand that you may not need to purchase a financial product, in which case we are happy to provide advisory services only.

Client classification

When advising you we will classify you as a “retail client”. As a retail client you have the highest regulatory protection available to you which is detailed in the FSCS section. If you are to be classified as a “professional” client that does not receive the full protection of the regulator we will inform you in writing.

Your payment optionsWhether you buy a product or not, we charge for our advice and services, which will become payable on completion of our work. We ask that you settle your charges as a single payment. We will send you an invoice for the agreed charge for settlement within 7 days. We accept cheque / cash payments and you will be provided with a receipt upon payment.

Payment for ongoing services

Our method of charging will be as agreed with you and based on the service plan that we agree. The frequency of the charge will depend on the service you choose and is usually charged monthly either by standing order from your bank account or by deduction from your investment portfolio.

You agree that we make this charge as long as we are the servicing agent for any plans that we administer for you. If you cancel the trail commission (on legacy products) or adviser charge we will invoice you for work carried out to date and reserve the right to withdraw our services. In the absence of an agreement we reserve the right to retain any payments received from product providers to cover our costs.

Information about other costs and associated charges

There may be other costs, including taxes, that are payable through other parties (such as the product provider) that we may not be party to. Such charges are normally disclosed in relevant third party documentation, for example a Key Features Document.

Management of cash & your investments

We are not authorised to handle client money. This means that we will never accept a cheque made out to us unless it is in settlement our fees and charges.

Similarly all investments that we place on your behalf will be registered in your name, and we will forward to you all documents showing ownership of your investments as soon as practicable after we receive them; where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you.

Several of the investment platforms we use have cash management accounts built into them. These accounts are in effect current accounts for the investment platform and are used for the payment of platform charges and adviser fees/charges.   It is therefore necessary to maintain a positive cash balance at all times. We recommend that you keep enough cash in the account to cover the product establishment charge and a minimum of 12 months product maintenance charges and the Initial Adviser Charge and 12 months on-going adviser charges (if applicable).

It will be necessary to sell units from your investment funds to maintain sufficient cash. You authorise us to do this on an annual basis at our discretion, or periodically as agreed with you and without prior consultation.

There may be tax implications for selling units and we will make you aware of these in our suitability letter. It is your responsibility to make us aware of any change in your circumstances that might affect your tax allowances. Alternatively you may wish to pay additional monies into your account to avoid the need to sell units.

Best Execution

It is in your interests and ours that we obtain the best possible result when placing orders with product and investment providers. The FCA requires us to take all reasonable steps to provide ‘best execution’ when carrying out such transactions.

Where we place or transmit orders for such investments on behalf of our clients, we may utilise the services of a third party broker and base our decision to place or transmit an order on the price and cost of execution of the order. For orders in collective investment schemes (e.g. unit trust), however, the price of units or shares in the scheme is normally set by the scheme operator or manager and as such we have little influence over the price available.

Investment Risk

During the discovery stage we will ask you to complete and investment risk questionnaire and discuss your experience and knowledge of investing. We will use this information in formulating recommendations for you. You should be aware that because investments can fall as well as rise you may not get back the full amount invested. Past performance is not a guide to future performance.

Conflicts of interest

Occasions may arise where we or one of our other clients have some form of interest in business being transacted for you. If this happens or we become aware that our interests or those of one of our other clients conflict with your interests, 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.

Other benefits we may receive

We may receive certain non-monetary benefits from firms that we deal with, which are used to enhance the quality of service we provide to you. Benefits we may receive include access to technical services, information technology support, training, or the supply of product literature. Some of the cost of these services may be passed on to as part of the total charges you pay. Further information is available on request.

For placing your assets onto the True Potential Wealth Platform we will receive units in True Potential LLP (a separate legal entity) in relation to the value of the assets placed on the platform which potentially may be of direct value to the firm in the future should this LLP be sold.

For placing any business on the True Potential Wealth Platform we use the operational back office system of their sister company True Potential LLP (a non regulated firm) free of charge. This additional benefit has no influence or bearing on any advice I provide but use of the system does enhance the quality of the service I provide to you.

Cancellation rights

In most cases you can exercise a right to cancel by withdrawing from the contract. Generally you will normally have a 30 day cancellation period for a life, pure protection, payment protection or pension contracts and a 14 day cancellation period for all other contracts.

Instructions for exercising the right to cancel, if applicable, will be contained in the relevant product disclosure information which will be issued to you. If you cancel a single premium contract, you may be required to pay for any loss you might reasonably incur in cancelling it which is caused by market movements. This means that, in certain circumstances, you might not get back the full amount you invested if you cancel the policy.

Use of your personal information

We respect your privacy and the confidentiality of the information you disclose to us. Your personal information may be maintained on computer records and will not be disclosed to other parties except other businesses within the same group, our auditors, and any organisation requiring access to such information for regulatory purposes only, or any person with a legal entitlement to access.

Where investment business services are provided to us by third parties we may need to disclose more than just your basic contact details. On these occasions, such as processing business, and obtaining compliance and regulatory advice you agree that personal information held by the firm may be disclosed on a confidential basis, and in accordance with the Data Protection Act 1998, to such third parties. You agree that this information may be transferred electronically, e.g. via email. You also agree that we or any such third party may contact you in the future by any means of communication that we consider appropriate at the time.

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 01202 622223 or in writing at 4 Axium Centre, Dorchester Rd, Lytchett Minster, Poole, BH16 6FE.

Subject to certain exceptions, you or your appointed agent 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.

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

Yes, 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

Provision and mediation of investments: protection for 100% of £50,000.

Non-Investment Insurance

Non-compulsory insurance provision (both general and life insurance): protection for 90% of the claim, with no upper limit. Cover for compulsory insurance is 100% of the claim with no upper limit.

Mortgages

Advising on or arranging house purchase finance: protection for 100% of £50,000

Further information about compensation scheme arrangements is available from the FSCS

What if you are not happy with our service?

It is of paramount importance that you are satisfied with the service we provide you. We regularly seek feedback from our clients and publish this on our website so that potential customers can check the standard of our work. If there is anything that you are not happy about please speak to us and we will endeavour to resolve matters to your satisfaction.  If we are unable to resolve your query and you feel the need to complain, please contact us:

…in writing to: The Complaints Manager, Apex CB Financial Planning Ltd, Unit 4 Axium Centre, Dorchester Road, Lytchett Minster, Poole, BH16 6FE

…by phone: Telephone 01202 622223

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

We maintain profession indemnity insurance to meet any liability that may arise in respect of advice and services provided to you.

Termination of authority

You or we may terminate our authority to act on your behalf at any time, without penalty. We ask that you give us notice of this termination in writing and it will take effect from the date of receipt. Termination is without prejudice to any transactions already initiated, which will be completed according to the Client Agreement unless otherwise agreed in writing. You will be liable to pay for any transactions made or carried out prior to termination and any fees which may be outstanding.

Download Client Agreement

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