THE FINANCIAL CONDUCT AUTHORITY (FCA)
The FCA is the independent watchdog that regulates financial services. The information in this document has been designed by the FCA to be given to consumers considering buying certain financial products. Please use this information to decide if our services are right for you.
We offer a full range of packaged retail investment products selected from the whole market.
We offer insurance products from a wide range of insurers and products in respect of life assurance, income protection and critical illness cover.
In all cases we will advise and make a personal recommendation to you unless otherwise agreed.
OUR CHARGES – INVESTMENTS
We charge fees for advising and arranging investments.
OUR CHARGES – INSURANCE
In respect of non-investment insurance products we are normally remunerated entirely by commission from the product provider. We will give you full details of any fees or commission in writing before you proceed.
2hwealthcare LLP are independent financial advisers, authorised and regulated by the Financial Conduct Authority registration number 218677. You can check this on the Financial Services Register by: visiting the FCA’s website www.fca.org.uk or by contacting the FCA on 0800 111 6768. Our registered office address is 22 Wycombe End, Beaconsfield, HP9 1NB registered in England & Wales number OC302357.
It is our intention to provide you with the highest possible level of client service at all times. Should we not meet your expectations we have a complaints procedure that is explained below. Should you wish to complain please contact Stephen Wilson: • in writing: 20 Shepherds Lane, Beaconsfield, Buckinghamshire, HP9 2DT • by telephone 01494 683 100 • by email: firstname.lastname@example.org Should you not be satisfied with our final response you may be entitled to refer the matter to the Financial Ombudsman Service (FOS) within six months of the date of our final letter:
Address: The Financial Ombudsman Service South Quay Plaza 183 Marsh Wall London E14 9SR
Tel: 0845 080 1800 or 020 7964 0500.
FINANCIAL SERVICES COMPENSATION SCHEME
We are covered by the Financial Services Compensation Scheme. 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.
Most types of investment business are covered for up to £50,000.
Insurance advising and arranging is covered for 90% of the claim, without any upper limit.
Eligible deposits are covered up to £85,000.
Further information about compensation scheme arrangements is available from the Financial Services Compensation Scheme (http://www.fscs.org.uk).
TERMS OF BUSINESS AGREEMENT
This is our standard Terms of Business Agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully before signing them. If you do not understand any point please ask for further information.
SERVICES WE PROVIDE
We offer independent financial advice with the aim of meeting your future financial objectives. You can choose exactly what you want us to do for you. Our main proposition is an initial financial report based on your current position, assessment of your attitudes, needs and future aspirations. We recommend planned actions to move you towards your goals. We arrange and implement our investment proposals once agreed with you. We also arrange insurance protection. We offer an ongoing investment review and valuation service.
If you so request, and without advice, we will arrange a contract with a provider specified by you. In these circumstances you agree that you have sufficient knowledge and experience to make this decision and you do not want us to give any advice on the suitability of the product in relation to your circumstances.
We intend to treat you as a ‘retail client’ or ‘consumer’ unless you agree otherwise and you will be afforded the highest level of regulatory protection available.
RETAIL INVESTMENT PRODUCTS
The range of regulated financial services we can provide includes (but is not limited to) researching, advising upon and arranging packaged retail investment products including pension funds, OEICs, unit trusts, investment trusts and life funds. In making our recommendations we will consider the full range of packaged retail investment products available and we will recommend those that are suitable for you in our professional opinion. We will also advise you if we consider other products such as cash deposits, discretionary fund management or other investment options are suitable for you.
CONFLICTS OF INTEREST
We offer independent advice but occasions could arise where we, or one of our clients, could have some form of interest in business that we are transacting 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 inform you in writing and obtain your consent before we carry out your instructions.
MONEY LAUNDERING REGULATIONS
We are required by law to verify the identity of all our investment clients. No application will be made on your behalf until such verification has been obtained.
We are not authorised to accept client money and therefore we never accept a cheque made out to us unless it is a cheque in settlement of our charges or disbursements. All other cheques MUST be made payable to the product provider. Under no circumstances will we accept cash.
We will register all investments in your name unless otherwise agreed in writing. All contract notes and documents of title in respect of your investments or policies will normally be sent to you directly by the issuing company but where this is not the case they will be forwarded to you, unless otherwise instructed in writing, as soon as practicable after being received by us. Where a number of documents relating to a series of transactions are involved we will normally retain the documents until the series is complete and then we will forward them to you.
COMMENCEMENT AND TERMINATION
This Terms of Business Agreement takes effect from the date it is given to you and will apply until either terminated or superseded by any new terms which we may give to you prior to any new services being undertaken. You, or we, may terminate our authority to act on your behalf under this agreement at any time, without penalty. Either party may terminate this agreement by providing one month’s notice in writing. Any outstanding fee payments must be settled immediately upon termination. Termination will not prejudice the completion of transactions already initiated on your behalf or any rights or obligations already arising.
YOUR DUTY TO DISCLOSE INFORMATION
We will base our investment recommendations on information you have given to us. It is important that you give us full information in order that we may provide the best advice for your needs and circumstances. It is your responsibility to provide complete and accurate information. It is important that you ensure all statements you make on insurance proposal forms, claim forms and other documents are full and accurate. Please note that if you recklessly, carelessly or deliberately fail to disclose any material information to us and your insurers this in could invalidate your insurance cover.
The product information document will detail your rights to cancel your arrangement once you have taken it out. Depending on the type of product you have purchased you may be entitled to cancel within 14 days (30 days for certain products) of either conclusion of the contract or receiving your documentation, whichever occurs later. You will then receive a full refund provided no claim has been made, except in the case of certain investment products where funds have already been invested, then you will get back the value of the investment whether this has gone up or down.
OUR SERVICES AND CHARGES
Initial consultation and meeting Initial meetings are without obligation on your part and free of any charge. They offer the opportunity to discuss your requirements, to establish if we are able to assist you and whether you wish to use our services.
Reports, research and advice
If you subsequently decide to appoint us to provide you with advice, we will agree the scope and nature of the work we shall carry out. We will propose and agree a fixed fee for a written report before we undertake any work. The fee will be based upon the degree of complexity we anticipate and the amount of time we expect to take to prepare the report. We reserve the right to waive the fee for a report should you instruct us to arrange and implement an investment portfolio or proposal. Arranging and implementing our investment proposals We charge the following fees to implement an investment portfolio or proposal:
Up to £50,000 investment – up to 3% of the amount invested
Up to £500,000 investment up to 2% of the amount invested
Over £500,000 investment up to 1% of the amount invested These charges may be taken directly from your investment and paid to us by the provider or alternatively they may be invoiced to you directly.
Regular Payment Investments
We will charge a fee of up to 10% of the first year’s investments payable directly from your contributions unless otherwise agreed, subject to a minimum charge of £200.
On-Going Investment Review and Valuation Service:
Where agreed, we will undertake to review your investments on an annual basis. Our fees for this service are:
}Up to 0.75% of the value of the portfolio reviewed
These charges can be taken directly from your investment and paid to us by the provider unless you request otherwise, or we may agree a fixed periodic retainer fee with you. Where we consider that additional reviews are required we will discuss and arrange this with you accordingly.
Our usual fees for the arrangement of a lifetime annuity are:
Up to 1.25% of the amount of the purchase price of the annuity.
However, where the work involved is more complex as a result of medical underwriting requirements, we reserve the right to apply a higher fee.
This fee may be: Up to 2.5% of the amount of the purchase price of the annuity.
Where the work we are undertaking for you is outside of our standard services proposition we will work on the following hourly rates.
Technical work and advice £225
Administration £ 60
We will agree a fixed amount, or a limit above which we will contact you for further instructions. We will agree with you our charges before we proceed and will confirm these in writing.
VAT: Normally all our services are, unless otherwise stated, undertaken with the intention of arranging and mediating regulated investments and as such it is exempted from VAT. We will tell you if you have to pay VAT.
Fees Paid Out Of Investments Or Income: Whilst this may be your preferred method of fee payment we must draw to your attention that in certain circumstances paying fees in this way could be prejudicial in terms of tax liabilities. We will draw this to your attention if we believe this to be the case but accept no liability for any tax incurred as a result of your choice of method of remuneration.
All the personal information that you provide to us will be treated in accordance with the Data Protection Act 1998. In entering into your agreement with us you consent to us, and any company or entity with which we do business or are regulated by, to process your data, including sensitive personal data. We may occasionally make you aware of products or services that we offer.