Disclaimer
Authorisation
Redwood Wealth Ltd (the ‘Firm’) is an Appointed Representative of ValidPath Limited which is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 197107. Redwood Wealth Ltd provides ‘whole of market’ advice in relation to investments, non-investment protection contracts and home finance products and has considerable skill, knowledge and experience in this field.
The Client wishes to engage the Firm to provide financial advice, and the Firm agrees to accept this engagement based on the terms set out in this Agreement.
All advice given and recommendations made will be confirmed by us to you in written form, but only after we have assessed your needs and considered your financial objectives and attitudes to any risks that may be involved. We will also take into account any restrictions that you wish to place on the types of products that you would be willing to consider.
The Financial Conduct Authority is the independent watchdog that regulates financial services.
ValidPath Limited’s permitted business is investment, protection, pensions and mortgage intermediation. Redwood Wealth Ltd is regulated in the United Kingdom. You can check this on the FCA’s Register by visiting the FCA’s website https://register.fca.org.uk/s/ or by contacting the FCA on 0800 111 6768 (freephone) or 0300 500 8082 from the UK, or +44 207 066 1000 from abroad. They are open Monday to Friday, 8am-6pm, and Saturday 9am-1pm.
The Client wishes to engage the Firm to provide financial advice, and the Firm agrees to accept this engagement based on the terms set out in this Agreement.
All advice given and recommendations made will be confirmed by us to you in written form, but only after we have assessed your needs and considered your financial objectives and attitudes to any risks that may be involved. We will also take into account any restrictions that you wish to place on the types of products that you would be willing to consider.
The Financial Conduct Authority is the independent watchdog that regulates financial services.
ValidPath Limited’s permitted business is investment, protection, pensions and mortgage intermediation. Redwood Wealth Ltd is regulated in the United Kingdom. You can check this on the FCA’s Register by visiting the FCA’s website https://register.fca.org.uk/s/ or by contacting the FCA on 0800 111 6768 (freephone) or 0300 500 8082 from the UK, or +44 207 066 1000 from abroad. They are open Monday to Friday, 8am-6pm, and Saturday 9am-1pm.
Obligations
The Firm shall provide to the Client the services set out in our ‘Adviser Charging Agreement’. In consideration of us providing you with this service, you agree to comply with the Terms outlined in this Agreement.
You shall give us instructions in writing (which may include email at our discretion). Also, at our discretion, we may accept verbal instructions provided that they are confirmed in writing. We shall not effect any transaction on your behalf, save that it is supported by your written instructions.
You shall give us instructions in writing (which may include email at our discretion). Also, at our discretion, we may accept verbal instructions provided that they are confirmed in writing. We shall not effect any transaction on your behalf, save that it is supported by your written instructions.
Client Classification
Each client with whom the firm does business is categorised in order to identify the level of regulatory protection. We propose to classify you as a ‘Retail Client’ for Investment purposes. This will provide you with the highest level of protection under the regulatory system as well as allowing you access to the Financial Ombudsman Service (FOS). You will be treated as a Retail Client unless you are advised by us prior to any business being transacted.
Unless clearly stated in writing to the contrary, it is our understanding that you forever intend to reside in the United Kingdom, and you will advise us immediately if you are considering moving abroad.
Unless clearly stated in writing to the contrary, it is our understanding that you forever intend to reside in the United Kingdom, and you will advise us immediately if you are considering moving abroad.
Services to be provided
Insurance
• We offer products from a range of insurers for Term Assurance, Mortgage Protection, Critical Illness, Income Protection & Private Medical Insurance.
• We will advise and make a recommendation for you after we have assessed your needs and objectives.
Home Finance Products
• We offer lifetime mortgage, regulated mortgage contracts, home reversion plans and equity release products from the whole market.
• We will advise and make a recommendation for you after we have assessed your needs and objectives.
Investment
• We provide Independent advice – We will advise and make a recommendation for you after we have assessed your needs. Our recommendation will be based upon a comprehensive and fair analysis of the market.
We offer an initial discussion without charge, at which we can discuss your needs and objectives and describe our services and remuneration options. If you decide to go ahead, we will:
• Gather and analyse relevant personal financial information about you, your needs, aims and objectives;
• Carefully assess your attitude to risk, and capacity to tolerate it;
• Recommend and discuss with you any actions we think you should take, agree a course of action, and implement the necessary provisions to support your objectives.
With regards to investments that we have arranged for you, our practice is to provide an annual review service, which will take the form of updated information plus an invitation to a review meeting. We may also contact you in the future to discuss the relative merits of an investment or service which we feel may be of interest to you following our initial recommendations, if we feel this is applicable. We will be pleased to advise you at any time you ask and the remuneration basis for the advice will be on the terms applying at that time.
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 letter to confirm our recommendation, within which will hold your stated objectives and acceptable level of risk. Unless otherwise confirmed we will assume that you do not wish to place any restrictions on the advice that we give you, and that the level of risk acceptable to you remains unchanged to that initially stated.
Investment products all carry some risk whereby their value and any income derived from them can go down as well as up. No guarantees are given by us either expressly or by implication on the future performance of any investment, and past performance should not be taken as any indication of future prospects. You are advised that, because the value of investments can fall as well as rise, you may not get back the full amount invested.
We will also arrange for all your investments to be registered in your name unless you first instruct us otherwise in writing. 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 are due involving a series of transactions, we normally hold each document until the series is complete and then forward them to you.
• We offer products from a range of insurers for Term Assurance, Mortgage Protection, Critical Illness, Income Protection & Private Medical Insurance.
• We will advise and make a recommendation for you after we have assessed your needs and objectives.
Home Finance Products
• We offer lifetime mortgage, regulated mortgage contracts, home reversion plans and equity release products from the whole market.
• We will advise and make a recommendation for you after we have assessed your needs and objectives.
Investment
• We provide Independent advice – We will advise and make a recommendation for you after we have assessed your needs. Our recommendation will be based upon a comprehensive and fair analysis of the market.
We offer an initial discussion without charge, at which we can discuss your needs and objectives and describe our services and remuneration options. If you decide to go ahead, we will:
• Gather and analyse relevant personal financial information about you, your needs, aims and objectives;
• Carefully assess your attitude to risk, and capacity to tolerate it;
• Recommend and discuss with you any actions we think you should take, agree a course of action, and implement the necessary provisions to support your objectives.
With regards to investments that we have arranged for you, our practice is to provide an annual review service, which will take the form of updated information plus an invitation to a review meeting. We may also contact you in the future to discuss the relative merits of an investment or service which we feel may be of interest to you following our initial recommendations, if we feel this is applicable. We will be pleased to advise you at any time you ask and the remuneration basis for the advice will be on the terms applying at that time.
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 letter to confirm our recommendation, within which will hold your stated objectives and acceptable level of risk. Unless otherwise confirmed we will assume that you do not wish to place any restrictions on the advice that we give you, and that the level of risk acceptable to you remains unchanged to that initially stated.
Investment products all carry some risk whereby their value and any income derived from them can go down as well as up. No guarantees are given by us either expressly or by implication on the future performance of any investment, and past performance should not be taken as any indication of future prospects. You are advised that, because the value of investments can fall as well as rise, you may not get back the full amount invested.
We will also arrange for all your investments to be registered in your name unless you first instruct us otherwise in writing. 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 are due involving a series of transactions, we normally hold each document until the series is complete and then forward them to you.
What will you have to pay us for our services?
Insurance:
Personal Protection – No fee for advice and implementation in relation to the types of products and services listed under above.
Business Protection – A fee of £1,000 for advice and implementation in relation to the types of products and services listed above. This will generally be offset against any commission received by us should you proceed with a recommended product.
You will receive a quotation that will confirm the commission payable as well as any other fees or commissions relating to any particular insurance policy.
Home Finance Products:
A fee of £1,000 payable for research, analysis and recommendation of a lifetime mortgage, regulated mortgage, home reversion plan or equity release product. We will also be paid a fee/commission from the lender or company that buys your home.
You will receive a key facts illustration when considering a particular lifetime mortgage, regulated mortgage, home reversion plan or equity release product which will tell you about fees relating to it.
Investment:
You will pay for our services on the basis of the summary provided below. We will discuss payment options with you and answer any questions you have. We will not charge you until we have agreed with you how we are to be paid.
Non-Advised Services: Where you retain our services to handle a specific transaction on your behalf, but without the requirement for advice, we will charge you a single fixed fee for such a service, which will be disclosed in our Adviser Charging Agreement. Your signature of that Agreement is our authorisation to proceed with that transaction.
Advised Services: The charge for our services is partly related to the expertise of the adviser, and partly to the nature of the service that you require from us. We will in any case tailor our service (and charge) to the needs and circumstances of each client. The following table provides a summary of the main options:
Personal Protection – No fee for advice and implementation in relation to the types of products and services listed under above.
Business Protection – A fee of £1,000 for advice and implementation in relation to the types of products and services listed above. This will generally be offset against any commission received by us should you proceed with a recommended product.
You will receive a quotation that will confirm the commission payable as well as any other fees or commissions relating to any particular insurance policy.
Home Finance Products:
A fee of £1,000 payable for research, analysis and recommendation of a lifetime mortgage, regulated mortgage, home reversion plan or equity release product. We will also be paid a fee/commission from the lender or company that buys your home.
You will receive a key facts illustration when considering a particular lifetime mortgage, regulated mortgage, home reversion plan or equity release product which will tell you about fees relating to it.
Investment:
You will pay for our services on the basis of the summary provided below. We will discuss payment options with you and answer any questions you have. We will not charge you until we have agreed with you how we are to be paid.
Non-Advised Services: Where you retain our services to handle a specific transaction on your behalf, but without the requirement for advice, we will charge you a single fixed fee for such a service, which will be disclosed in our Adviser Charging Agreement. Your signature of that Agreement is our authorisation to proceed with that transaction.
Advised Services: The charge for our services is partly related to the expertise of the adviser, and partly to the nature of the service that you require from us. We will in any case tailor our service (and charge) to the needs and circumstances of each client. The following table provides a summary of the main options:
| New Investment or Pension advice (research and recommendation) | £1,000 |
| Investment or pension transfer advice (research, transfer analysis and recommendation) | £1,500 plus £250 for each additional plan being considered |
| Accessing your pension benefits at retirement advice (research, income sustainability analysis and recommendation) | £1,500 plus £250 for each additional plan being considered |
| Ad-hoc, hourly-costed work | £125 per hour |
• Implementation – Lump sum pension and investment advice:
Once we have provided you with your financial plan, if you accept our recommendations and ask us to proceed, we will implement the plan on your behalf. The fee for implementing your plan is a percentage of the sum being invested.
This fee starts at 3% and reduces as the investment amount increases as detailed in the table below:
Once we have provided you with your financial plan, if you accept our recommendations and ask us to proceed, we will implement the plan on your behalf. The fee for implementing your plan is a percentage of the sum being invested.
This fee starts at 3% and reduces as the investment amount increases as detailed in the table below:
| Investment Amount | Fee % |
| £0-£150,000 | 3% |
| £150,001-£300,000 | 2% |
| £300,001+ | 1% |
Implementation fees are tiered i.e. a £250,000 investment is charged at 3% on first £150,000 and 2% on next £100,000 resulting in a combined fee of £6,500 or 2.60% (see examples table below).
Any fee incurred during the research, analysis and recommendation stage is deducted from the implementation fee subject to the minimum fee for the work undertaken.
The implementation charge for more complex work such as inheritance tax planning or complex investments i.e. Business Relief, VCT, EIS and use of trusts is charged at 3% regardless of sum invested.
Implementation fees are capped at £15,000.
Monetary Examples:
Any fee incurred during the research, analysis and recommendation stage is deducted from the implementation fee subject to the minimum fee for the work undertaken.
The implementation charge for more complex work such as inheritance tax planning or complex investments i.e. Business Relief, VCT, EIS and use of trusts is charged at 3% regardless of sum invested.
Implementation fees are capped at £15,000.
Monetary Examples:
| Investment Amount | Fee (£) | Fee (%) |
| £100,000 | £3,000 | 3.00% |
| £250,000 | £6,500 | 2.60% |
| £500,000 | £9,500 | 1.90% |
| £750,000 | £12,000 | 1.60% |
| £1,000,000 | £14,500 | 1.45% |
Implementation – Regular premium pension and investments advice:
The implementation fee for regular premium business is calculated based on the combined value of premiums invested over the first 24 months.
This starts at 3% (subject to the minimum £1,000 fee for research, analysis and recommendation) and is tiered in the same way as detailed above.
Monetary Examples:
The implementation fee for regular premium business is calculated based on the combined value of premiums invested over the first 24 months.
This starts at 3% (subject to the minimum £1,000 fee for research, analysis and recommendation) and is tiered in the same way as detailed above.
Monetary Examples:
| Regular Premium Amount | Sum invested over 24 months | Fee (£) | Fee (%) |
| £1,000 per month | £24,000 | £1,000 | 4.17% |
| £1,500 per month | £36,000 | £1,080 | 3.00% |
| £5,000 per month | £120,000 | £3,600 | 3.00% |
| £10,000 per month | £240,000 | £6,300 | 2.63% |
| £15,000 per month | £360,000 | £8,100 | 2.25% |
You can choose to pay your implementation fee through your policy. The payment will be deducted proportionately from each monthly contribution and it normally needs to be paid within the first 12 months of your plan. The deductions are limited to a maximum of 50% of each monthly contribution and any balance due at the end of the first year will be payable by the same monthly instalments until settled in full.
Please note that if you decide to pay this charge through your policy and payments to the policy subsequently cease, we will calculate total payments received to date and charge you the balance.
Please note that if you decide to pay this charge through your policy and payments to the policy subsequently cease, we will calculate total payments received to date and charge you the balance.
Annual Fees & Ongoing Services
It is our practice to charge an ongoing advice fee in relation to assets that we advise you on and this is usually deducted from the investments concerned. This pays for essential infrastructure, regulatory overheads and the provision of our annual review service.
The fee for this service varies between 0.75% to 1.00%. This is generally dependent on your individual needs, the complexity of your arrangements and whether you are regularly decumulating (withdrawing) from your portfolio as detailed below:
The fee for this service varies between 0.75% to 1.00%. This is generally dependent on your individual needs, the complexity of your arrangements and whether you are regularly decumulating (withdrawing) from your portfolio as detailed below:
| Portfolio Type | Service Type | Fee (%) | Fee (£) based on £100,000 |
| Simple Portfolio or MPS/DFM Portfolio | Accumulation | 0.75% | £750 |
| Simple Portfolio or MPS/DFM Portfolio | Decumulation | 1.00% | £1,000 |
| Bespoke Portfolio | Accumulation/ Decumulation | 1.00% | £1,000 |
Our ongoing service includes the following:
• Annual valuation report and commentary on changes
• Annual review meeting with your adviser
• Review and assessment of your financial circumstances and suitability of your arrangements
• Review and assessment of any tax considerations or relevant changes in legislation
• Online access to investment valuations
• Liaison with your other professional advisers as required
• Access to your adviser and/or support team at any time between review meetings
We offer a range of payment options including:
• Settling your adviser charge through a single payment: Invoice plus payment by client within 30 days of receipt on completion of work. Whether you buy a product or not, you will pay us an adviser charge for our advice and services, which will become payable upon completion of our work.
• Settling your adviser charge by instalments: Where no ongoing service is being provided, and only where regular premium products are recommended, we offer the facility to pay by instalments through your recommended product.
If you buy a financial product, you can choose to have your adviser charge deducted from the product through instalments. Although you pay nothing to us up front, that does not mean that our service is free. You still pay us indirectly through deductions from the amount you pay into the product. These deductions will pay towards settling the adviser charge. These charges could reduce the amount left for investment. If you select this method of payment, we will detail the terms in our Adviser Charging Agreement.
• Paying through other arrangements: An agreed charge to be taken from the product, and paid to ourselves by the product-provider, rather than you writing us a cheque.
• Payment for ongoing services: Annual retainer paid to our firm out of the product in order to pay for annual review services.
The Firm does not transact Defined Benefit Pension Transfer business. Any enquiries pertaining to such an area will, with your consent, be referred to a suitably qualified specialist for their consideration.
• Annual valuation report and commentary on changes
• Annual review meeting with your adviser
• Review and assessment of your financial circumstances and suitability of your arrangements
• Review and assessment of any tax considerations or relevant changes in legislation
• Online access to investment valuations
• Liaison with your other professional advisers as required
• Access to your adviser and/or support team at any time between review meetings
We offer a range of payment options including:
• Settling your adviser charge through a single payment: Invoice plus payment by client within 30 days of receipt on completion of work. Whether you buy a product or not, you will pay us an adviser charge for our advice and services, which will become payable upon completion of our work.
• Settling your adviser charge by instalments: Where no ongoing service is being provided, and only where regular premium products are recommended, we offer the facility to pay by instalments through your recommended product.
If you buy a financial product, you can choose to have your adviser charge deducted from the product through instalments. Although you pay nothing to us up front, that does not mean that our service is free. You still pay us indirectly through deductions from the amount you pay into the product. These deductions will pay towards settling the adviser charge. These charges could reduce the amount left for investment. If you select this method of payment, we will detail the terms in our Adviser Charging Agreement.
• Paying through other arrangements: An agreed charge to be taken from the product, and paid to ourselves by the product-provider, rather than you writing us a cheque.
• Payment for ongoing services: Annual retainer paid to our firm out of the product in order to pay for annual review services.
The Firm does not transact Defined Benefit Pension Transfer business. Any enquiries pertaining to such an area will, with your consent, be referred to a suitably qualified specialist for their consideration.
Value Added Tax (VAT)
Fees quoted exclude VAT. Under current legislation, our services are not subject to VAT, but should this change in the future, and where VAT becomes due, we will notify you before conducting any further work.
Communication
We will communicate with you in English both verbally and written for the sending and reception of orders. Our written communications will take the form of hard copy (paper) correspondence and emails, unless you advise us to the contrary.
Disclosure and accuracy of information
The Client is fully responsible for all disclosures made, and the accuracy of information provided within documentation supplied by the client, which may include Client FactFinds, forms, applications or proposals signed by the Client, notwithstanding any assistance given by the Firm, its staff or advisers. The Firm shall also not be liable for the actions, omissions or defaults of any third parties, whether or not such parties were introduced by the Firm.
Client Money
Redwood Wealth Ltd does not handle clients’ money. We never 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, nor do we handle cash.
Adviser Charging (Fees)
For an overview of the main remuneration options please refer to our ‘Key Facts About Our Services & Costs’ and our ‘Adviser Charging Agreement’ which are provided as separate documents. For investment work we are remunerated via a methodology called ‘Adviser Charging’, established by our Regulator.
Our ‘Adviser Charge’ fees take account of the degree of skill and responsibility involved and the time necessary to complete the work, as well as the value of the work itself. In consideration of the advice and services provided by us, you agree to pay us a fee as outlined in our Adviser Charging Agreement. All fees and any amendments to such will be agreed with you before proceeding.
All such charges as specified in the Adviser Charging Agreement are normally billed on the completion of a piece of work, or on a monthly or quarterly basis as agreed. Our payment terms are 30 days unless we receive payment from a product-provider. We retain a full record of all work undertaken for each client and can render an interim statement at any point in time on request.
The Firm reserves the right to suspend services where fees are not paid in accordance with this Agreement, or where the Client has not acted in accordance with the same. We may exercise our right to claim interest and compensation for debt recovery costs under the Late Payment of Commercial Debts (Interest) Act 1998 if fees are not paid in accordance with agreed credit terms.
Our ‘Adviser Charge’ fees take account of the degree of skill and responsibility involved and the time necessary to complete the work, as well as the value of the work itself. In consideration of the advice and services provided by us, you agree to pay us a fee as outlined in our Adviser Charging Agreement. All fees and any amendments to such will be agreed with you before proceeding.
All such charges as specified in the Adviser Charging Agreement are normally billed on the completion of a piece of work, or on a monthly or quarterly basis as agreed. Our payment terms are 30 days unless we receive payment from a product-provider. We retain a full record of all work undertaken for each client and can render an interim statement at any point in time on request.
The Firm reserves the right to suspend services where fees are not paid in accordance with this Agreement, or where the Client has not acted in accordance with the same. We may exercise our right to claim interest and compensation for debt recovery costs under the Late Payment of Commercial Debts (Interest) Act 1998 if fees are not paid in accordance with agreed credit terms.
Anti-Money Laundering
We are required by the anti-money laundering regulations to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up to date. For this purpose, we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning.
Material interest and professional ethics
We will act honestly, fairly and professionally, with a focus on our ‘Clients’ best interest’. We will be open, honest and transparent in the way we deal with you, we will not place our interests above yours, we will seek to communicate clearly and without jargon, and we will always seek your views in order to best meet your expectations.
If we become aware of a connected party or a conflict of interest in relation to business that we are transacting on your behalf, we shall cease such work and disclose the matter in full to you. However, we do recognise that 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.
If we become aware of a connected party or a conflict of interest in relation to business that we are transacting on your behalf, we shall cease such work and disclose the matter in full to you. However, we do recognise that 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.
Rights to change or cancellation
In relation to any specific financial transaction, we will inform you of your statutory right to cancel. However, there will be occasions where no statutory rights are granted, and this will be explained before any contract is concluded.
The Terms laid out in this Agreement are subject to change from time to time and any new Terms published by us will automatically supersede all others, once a copy has been sent to you, except for changes to our charges and fees which will take effect one month after we have notified you of such changes.
The authority to act on your behalf may be terminated at any time without penalty by either party, giving ten business 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.
This Agreement will terminate automatically if:
a) Either party commits a material breach of the terms thereof;
b) The Firm ceases to be regulated by the FCA or another appropriate regulatory authority (except for the purpose of amalgamation or reconstruction);
c) Either party becomes bankrupt or goes into liquidation, except for the purpose of amalgamation or reconstruction.
The Terms laid out in this Agreement are subject to change from time to time and any new Terms published by us will automatically supersede all others, once a copy has been sent to you, except for changes to our charges and fees which will take effect one month after we have notified you of such changes.
The authority to act on your behalf may be terminated at any time without penalty by either party, giving ten business 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.
This Agreement will terminate automatically if:
a) Either party commits a material breach of the terms thereof;
b) The Firm ceases to be regulated by the FCA or another appropriate regulatory authority (except for the purpose of amalgamation or reconstruction);
c) Either party becomes bankrupt or goes into liquidation, except for the purpose of amalgamation or reconstruction.
Limitation of our responsibility and liability
Nothing in these terms detracts from or avoids our responsibility to provide you with suitable advice and service, nor from your right to complain to the Financial Ombudsman. Subject to our duties or liabilities under the Financial Services and Markets Act and the other provisions of these terms, we shall only be liable to you for any loss or damage you may suffer as a direct result of any services which we provide to you to the extent that such loss or damage arises as a result of fraud, negligence, or willful default by us.
You accept that:
1. We are only responsible for transactions that we advise you to undertake and that are transacted under our agency. For the avoidance of doubt, this means, for example that if we recommend you invest in a portfolio consisting of funds A, B, C, D and E, and you subsequently invest in one or more of those funds without conducting the transaction via our firm, we are not liable in any way for any consequence of that transaction.
2. Where you are not paying us an ongoing fee for any particular investment, we shall not provide any further advice in relation to that investment or be responsible in any way for the oversight thereof.
3. We will not be liable for any losses, damages, liabilities, or claims incurred due to:
a. The fall in value of any investments held by you.
b. any service-related issues or delays caused by third parties which are beyond our control.
c. the completeness or accuracy of the information prepared by a third party.
d. the loss of any documentation (including without limitation share certificates or other documents of title) in the UK postal system.
e. the alteration or loss of confidentiality of any emailed information or electronic message.
f. penalties, surcharges, interest, or additional tax liabilities arising from the supply by you or others of incorrect or incomplete information, or from the failure by you or others to supply any appropriate information or from your failure to act on our advice or to respond promptly to communications from us or the tax authorities.
g. reliance by any third party on our advice or work unless we have consented in writing to the same.
h. a failure or delay in implementing instructions as a result of our inability to verify the authenticity of the instruction or where we consider the instruction to be unclear or ambiguous.
You accept that:
1. We are only responsible for transactions that we advise you to undertake and that are transacted under our agency. For the avoidance of doubt, this means, for example that if we recommend you invest in a portfolio consisting of funds A, B, C, D and E, and you subsequently invest in one or more of those funds without conducting the transaction via our firm, we are not liable in any way for any consequence of that transaction.
2. Where you are not paying us an ongoing fee for any particular investment, we shall not provide any further advice in relation to that investment or be responsible in any way for the oversight thereof.
3. We will not be liable for any losses, damages, liabilities, or claims incurred due to:
a. The fall in value of any investments held by you.
b. any service-related issues or delays caused by third parties which are beyond our control.
c. the completeness or accuracy of the information prepared by a third party.
d. the loss of any documentation (including without limitation share certificates or other documents of title) in the UK postal system.
e. the alteration or loss of confidentiality of any emailed information or electronic message.
f. penalties, surcharges, interest, or additional tax liabilities arising from the supply by you or others of incorrect or incomplete information, or from the failure by you or others to supply any appropriate information or from your failure to act on our advice or to respond promptly to communications from us or the tax authorities.
g. reliance by any third party on our advice or work unless we have consented in writing to the same.
h. a failure or delay in implementing instructions as a result of our inability to verify the authenticity of the instruction or where we consider the instruction to be unclear or ambiguous.
Law and related provisions
The validity, construction and performance of these Terms is governed and shall be construed to be in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts.
Each party irrevocably waives any right it may have to object to any action being brought to those courts, to claim that the action has been brought to an inappropriate forum or to claim that these courts do not have jurisdiction.
All advice given by the Firm takes into account taxation and other legislation applying in England and Wales only. We accept no responsibility or liability for any financial or other loss incurred by you through our advice or otherwise due in any way to other taxation, regulatory or legislative regimes. If you think you might be subject to any tax or legislative regime outside of England and Wales, then we recommend you seek specialist advice before you proceed with any recommendations made by us.
Any notice given under these Terms shall be in writing and shall be deemed to have been duly given if left or sent by first class post or registered post and shall be deemed to have been received by the addressee two working days following despatch of the notice, or if by hand, simultaneously with the delivery. To prove the giving of notice, it shall be sufficient to show that it was despatched.
You shall not be entitled to assign or transfer the benefit of the Terms contained in this Agreement. We are entitled to assign or transfer the benefit of the Terms.
A person who is not a party to these Terms shall have no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any part of these Terms. This clause does not affect any right or remedy of any person which exists or is available otherwise than pursuant to the Act.
Save where with reasonable foresight the breach could have been avoided, neither party shall be liable to the other for any loss or damage outside the reasonable control of both parties.
Client Satisfaction
If at any time you would like to discuss with us how our service could be improved, please do not hesitate to contact us.
If you have a complaint about financial loss, material inconvenience or material distress, please refer this to our Complaints Officer at ValidPath Limited, Complaints Department, The Maltings, East Tyndal Street, Cardiff, CF24 5EA who will investigate the matter in full and provide you with a formal analysis of their findings. If you are not satisfied with their response, you have the right to refer the matter to the Financial Ombudsman Service (FOS) within 6 months of the date of their letter.
We reserve the right to reclaim costs and expenses reasonably incurred by the Firm or ValidPath Limited in defending any complaints to the Ombudsman or Courts or similar system which are of a frivolous or vexatious nature. This applies to circumstances surrounding any products or advice given from this point, as well as previously. If the complaint is not upheld we will recover whatever costs, if any, are allowed.
If you have a complaint about financial loss, material inconvenience or material distress, please refer this to our Complaints Officer at ValidPath Limited, Complaints Department, The Maltings, East Tyndal Street, Cardiff, CF24 5EA who will investigate the matter in full and provide you with a formal analysis of their findings. If you are not satisfied with their response, you have the right to refer the matter to the Financial Ombudsman Service (FOS) within 6 months of the date of their letter.
We reserve the right to reclaim costs and expenses reasonably incurred by the Firm or ValidPath Limited in defending any complaints to the Ombudsman or Courts or similar system which are of a frivolous or vexatious nature. This applies to circumstances surrounding any products or advice given from this point, as well as previously. If the complaint is not upheld we will recover whatever costs, if any, are allowed.
Are we covered by the Financial Services Compensation Scheme (FSCS)?
The Firm is covered by the Financial Services Compensation Scheme (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. Here are some typical examples:
Investment/pension advice – Up to £85,000 per person per firm, if the firm fails after 1 April 2019.
Insurance advice – 90% or 100% of the insurance policy, depending on the type of insurance, if the firm fails after 8 October 2020.
Mortgage advice – Up to £85,000 per person per firm, if the firm fails after 1 April 2019 and the advice was provided after 31 October 2004.
Further information about compensation scheme arrangements is available from the FSCS.
Our authorising Network (ValidPath Limited) holds compliant Professional Indemnity Insurance that satisfies FCA requirements.
Investment/pension advice – Up to £85,000 per person per firm, if the firm fails after 1 April 2019.
Insurance advice – 90% or 100% of the insurance policy, depending on the type of insurance, if the firm fails after 8 October 2020.
Mortgage advice – Up to £85,000 per person per firm, if the firm fails after 1 April 2019 and the advice was provided after 31 October 2004.
Further information about compensation scheme arrangements is available from the FSCS.
Our authorising Network (ValidPath Limited) holds compliant Professional Indemnity Insurance that satisfies FCA requirements.
