Client Agreement
Commencement Our Services As a Retail Client, you have the right to request to be treated as an Elective Professional Client either generally or in respect of a particular service, type of transaction or product. Such a request must be made in writing and we will consider any requests received on a case by case basis against the criteria set out in FSA Rules. We will inform you of the FSA protections you will lose as a result of such a re-categorisation together with the scope of that re-categorisation. If, following such a request, you are classified as an Elective Professional Client you must keep us informed of any change in your circumstances that could affect your classification. We may also advise on products and services which are not regulated by the Financial Services Authority. We will tell you where this is the case. Unless agreed otherwise in writing we will not be obliged to review in the future any investment or policy that we have arranged for you. We are an appointed representative of TenetConnect Limited, which is authorised and regulated by the Financial Services Authority (FSA). The FSA is the independent regulator of financial services in the United Kingdom. TenetConnect Limited is entered on the FSA register (www.fsa.gov.uk/register) under reference 149826. Their address is: TenetConnect Limited TenetConnect Limited is a wholly owned subsidiary of Tenet Group Limited which is a leading distributor of financial products and services in the UK. AVIVA and Friends Provident Life & Pensions Ltd each own 21%, Standard Life Assurance Company own 23% and AEGON Distribution Holdings Ltd 20% of the capital of Tenet Group Ltd. We may recommend investments in the IFSL Sinfonia Open Ended Investment Company. This investment company has been jointly developed between BNP Paribas and Sinfonia Asset Management Limited, a subsidiary of Tenet Group Limited.
Alternatively we can be paid commission on a product we arrange. We will tell you about how much commission we receive. We will provide you with further details about the cost of our services separately. We will tell you if you have to pay VAT. It is possible that other costs, including taxes (e.g. stamp duty) related to the business we arrange may arise. These costs will not be paid by our firm but borne by you. If we arrange for you a contract from which we receive initial commission and subsequently you cease to pay premiums which results in us refunding the commission which has bene paid to us, we reserve the right to recover from you an amount equal to the amount we have had to refund without the need for a separate fee agreement. The amount recoverable and the timeframe over which it is recoverable are dependent on the product chosen. Further details of the amount and timeframe will be notified to you prior to the conclusion of the contract in the Suitability Report or Statement of Demands and Needs Letter we will send you. This will not applu where you exercise your statutory right to cancel the contract. Certain product providers make payments to Tenet Group Limited, the parent company of TenetConnect Limited in relation to commercial services provided to them. None of these payments relate to volumes of business placed with the product providers or are attributed to individual transactions. If we receive any other form of benefit in connection with our services to you we will disclose this to you.
Except in respect to settlement of our invoices for agreed fees, cheques should be made payable to the product providers only. We do not accept cash payment. We will normally register all products and/or investments in your name unless otherwise instructed in writing. In certain circumstances products and/or investments may be registered in the name of a nominee company, for your ease of administration, although you will remain the beneficial owner of those products and/or investments. If we become aware that our interests or those of one of our other clients conflicts with your interests, we will inform you in writing and obtain your consent prior to proceeding with your instructions.
In writing: Dispute Resolution Department, TenetConnect Limited, Network House, Lister Hill, Horsforth, Leeds, LS18 5AZ; or Our written complaints procedure is available upon request. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS). Further information about the FOS is available from their website www.financial-ombudsman.org.uk. If we cannot meet our obligations you may be entitled to compensation from the Financial Services Compensation Scheme. This depends on the type of business and the circumstances of the claim. Advising and arranging on investments is covered up to a maximum limit of £50,000. Advising and arranging on non-compulsory classes of insurance is covered for 90% of the claim, without any upper limit. Advising and arranging on compulsory classes of insurance (e.g. motor or employers liability insurance) is covered for 100% of the claim, without any upper limit. Advising and arranging on mortgages, home purchase and equity release is covered up to a maximum limit of £50,000. Further information about the FSCS is available from their website www.fscs.org.uk. Termination
In order to provide you with products and services we need to gather personal and financial information about you. This includes information obtained from you or third parties, such as employers and credit reference agencies, fraud prevention agencies or other organisations. This may include sensitive information about racial or ethnic group, physical or mental health, sexual life, criminal proceedings and offences. Access: You have the right to access information we hold about you. You can access a copy of these records by contacting us or alternatively Tenet Connect Limited Protection Officer. Contact details are as follows: Data Protection Officer We are entitled to charge a fee for this service of up to £10. If any of the information we hold is incomplete or inaccurate please tell us and we will correct it. Use of data: Personal information will be passed to TenetConnect Limited for compliance and monitoring purposes. Information may be passed to other financial firms in the course of providing services. We may provide information to our regulators and their successor. We may also provide information to our auditors, TenetConnect Limited, professional advisers, and other firms within the Tenet Group. We may from time to time contact you by post, fax or e-mail with details of products and services which may be of interest to you. If you would like to receive this information please indicate your preference by ticking the box here. ? We shall disclose information to relevant authorities where we are required to do so by law. We are legally obliged to verify the identity of our customers and retain these records. We will retain records after our business relationship has ended for legal and regulatory purposes.
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The levels, bases and reliefs of taxation are subject to change.
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. This site does not confer any form of personalised financial advice, should you wish to receive specific financial advice please contact us.