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«Authorised & Regulated by the Financial Conduct Authority, Number : 232610 Company Number : 4705400 Datum House Electra Way Crewe Cheshire CW1 6ZF ...»

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Client Agreement

Authorised & Regulated by the Financial Conduct

Authority, Number : 232610

Company Number : 4705400

Datum House

Electra Way




Telephone : 01270 530975

Fax : 01270 656075

Website : http://www.jones-sheridan.co.uk

Version: 22nd September 2016


Our Service Proposition

Important - Your Adviser

Our Advice Process

The Review Meeting

Initial Fees

Ongoing Fees

Other Important Fee Information

How You Are Protected

Protecting your personal information

Financial Crime Obligations

Termination of agreement

Compensation Limits


Our Obligations To You

Best Execution

Client classification

Designated Professional Body Regulations


Client Money

Non-Regulated Products

Risk warnings

None Readily Realisable Products

Cancellation rights – Changing your mind

Conflict of interest

General Information


Legal and accounting advice


Investment Performance & Risks

Company Background

Our Staff

–  –  –

In order to deal with this issue in a fair manner, below is our policy with respect to client servicing. All advisers are supported by our experienced centralised administration and paraplanner team who maintain your client records and work with our advisers, this principal will remain unchanged.

Premier Wealth and Wealth Management

As long as your adviser does not leave the company, unless you request differently, we will  endeavour to retain continuity with your existing adviser. Your needs will only be dealt with by another adviser if they are of an urgent nature and your adviser is on annual leave. There may, however be certain unforeseeable circumstances that require a change of adviser.

Financial Planning

–  –  –

Notwithstanding the above, financial services is an evolving industry where certain advisers have specialist knowledge, where appropriate we will refer your specific need to a specialist who can give appropriate advice.

Can I change my adviser?

We will endeavour to make sure your adviser is a good fit. While we cannot always guarantee that you will get a new adviser, if for any reason you are not happy please contact us and we will discuss the options with you.

Will my adviser see me out of office hours?

This is at the discretion of your adviser and you will be able to discuss this with them.

–  –  –

Getting to know you We will have a more detailed discussion around your current circumstances and record this so  we can ensure our advice is tailored to your needs. Getting to know you is an on-going process as your objectives and circumstances will change over time As part of this process, we will complete a personal fact find which will help us to understand  your knowledge and experience in financial services. We will also complete a questionnaire to help us understand your attitude to investment risk We will ask for a considerable amount of information about you. Importantly this is all strictly  confidential and the more information you can give us, the better our solutions will be We will not make any recommendations to you until this part of the process has been  completed

–  –  –

Research solutions Your adviser will pass the file over to our paraplanning team along with their initial thoughts  on your requirements We will undertake detailed research taking into account every possible aspect of your financial  and personal circumstances including; your tax position, what plans you currently hold and your future needs. We may need to speak to you again to clarify any questions This process typically takes two weeks but may be shorter for simple cases or considerably  longer when we have to obtain information on your existing plans If the fee is likely to differ considerably from the estimate, your adviser will contact you. This  can happen for example, where plans we are reviewing turn out to be more complex than first thought Discuss our proposals Once the paraplanning team have prepared the recommendations your adviser will review this  in detail and tailor the report directly to the discussions you have had You will be given the recommendations in writing along with any supporting documents. You  will also have written confirmation of the final fee We will always attempt to give holistic advice so the suitability report will go beyond any  specific product that is being recommended You will have time to review the recommendations at a further meeting with your adviser  It is important to us that you fully understand and are happy with our recommendations and  we encourage you to ask questions and discuss them with your adviser Agree the way forward You may decide you wish to proceed with some or all of the recommendations proposed.

 In rare cases you may decide not to proceed at all, however by working with you at every step  of the way we hope this will not be the case. If you decide not to go ahead with the recommendation, we will charge you the advice fee only, subject to a minimum fee of £500 Once agreed, your adviser will assist you with the preparation of any paperwork that is required  and submit it on your behalf Ongoing advice We will keep you informed of the progress of any applications you have submitted  Once everything is complete you will receive a confirmation letter along with any documents  that you need to keep You will receive an on-going service based on our agreed service proposition  You are guaranteed to be offered at least one full financial review each year if our recurring  fees are greater than £500. If we do not offer you this review, we will refund to you any recurring fee we have received for that year Each year we will review your service level and where appropriate adjust it to be  commensurate with the recurring fees we have received If our recurring fees are less than £100 per year, your account will be considered to be dormant,  and you will not receive a proactive review from us

–  –  –

Discuss your concerns  Any issues that are most important to you will be discussed first.

General Update  Your adviser will look to see if any of your circumstances have changed. This is important as it can affect many areas of your overall financial plan.

Portfolio Review  A look back at how things have done since your last review. This will include updating your cash balances and reviewing your existing investments and pensions.

Reconfirm Attitude to Risk  It is important we ensure your portfolio is aligned to your attitude to risk and your adviser will talk to you about risk and capacity for loss in conjunction with your portfolio review.

Protection Review  You will be able to discuss any financial issues affecting your wider family which may cover areas such as life cover, critical illness or income protection. These are the foundations of your financial plan.

Strategic Planning  Your adviser will recommend any changes to your portfolio or any other financial planning that may be required, this will be in conjunction with your objectives and will cover areas such as investing or retirement planning.

Estate Planning Review  Your adviser will look at your estate planning to ensure your wishes are currently legal, valid and tax efficient.

Agree actions  Your adviser will agree which actions you wish to proceed with and put in place some timescales to deal with these General Assistance  Your adviser will be able to help you organise any paperwork you have and answer any other outstanding queries Professional Update  If required we are able to provide updates to other professional parties such as your accountant or solicitor

–  –  –

Fees are payable as a combination of an hourly rate plus a risk premium. For ISA top ups via a platform we have a process in place whereby an administrator can arrange this for you at a greatly reduced cost.

–  –  –

How do I know what the fee will be?

Your adviser will provide an estimate of the fee before any work is undertaken. The fee will vary depending on the complexity and how much work is likely to be involved. For example setting up a new lump sum investment is likely to be more straightforward than analysing a series of pension plans. We will tell you if you need to pay VAT.

You may ask us to limit our fee at outset; however, this may mean we cannot provide you with full advice. If the fee is likely to be higher than initially expected, your adviser will contact you to confirm this before undertaking any further work.

–  –  –

The fees will be split into three components, advice, risk and implementation. Even if you do not proceed with our recommendations, you will still be required to pay the advice element of the fee, subject to our minimum of £500.

How do I pay the fee?

You will normally be expected to pay the fee directly, however, by agreement in some cases you can have it deducted directly from a plan. There may be tax implications for deducting the fee from some plans, which your adviser will discuss with you in advance.

What about commission?

Commission has largely been replaced by fees, however some regular premium life contracts still pay commission and you have the option with these plans to choose to have the fee paid in part or all by commission. If we receive an amount, direct from the life office that exceeds the fee that was agreed with you, we would return any excess to you.

If you choose to pay by commission and subsequently cease to pay premiums on the policy, and in consequence, we are obliged to refund the commission that has been paid to us. We will charge you a fee representing the amount we have to repay, for a period of up to four years after commencement of the policy.

We will confirm the exact amount that would need to be repaid and the timescale over which it will need to be repaid in your Suitability Report.

–  –  –

If you have active investments that we advise on, you will be required to pay a percentage of your portfolio as an ongoing fee, which may automatically qualify you for a certain level of service. The reason for the percentage cost is due to the extra work required to maintain and review your investments as well as ensure they remain invested according to your attitude to risk.

–  –  –

How do I pay the ongoing fees?

Our ongoing fees will where possible be taken directly from your plans. If this is not possible or not tax efficient, payment will need to be made direct from you via standing order and we will provide you with an invoice in this respect.

What about my old plans?

Many older contracts or legacy plans will continue to pay a servicing commission to Jones Sheridan and will be offset against the annual fees that we receive. Some may pay nothing and these will need a fee to be added to them or paid directly. If you do not pay us a fee for these plans, we will not be able to review them for you.

Can I choose a different service level?

If you choose to have a lower level of service you will still be required to pay the agreed percentage on your investments. Conversely, if you would prefer to have a higher level of service, you can pay extra in order to qualify.

Will I go up a service level if my fee is increased?

Our standard fee is either 1% or 0.75% as shown above. If we are receiving less than this on a plan we will need to increase the fee to the minimum level, however this may not take you into the next service level.

–  –  –

Other Important Fee Information What is complex planning?

This is any type of work that will require more detailed analysis on our part. It could be anything from Inheritance Tax Planning, income or capital gains tax planning to complex retirement planning. It may be that you have a number of plans or plans with guarantees that we need to consider. Your adviser will agree with you in advance if we feel the advice is likely to be of a more complex nature.

Will my fees increase?

Over time, our costs do increase and our fees may need to be increased to reflect this. Rest assured we would confirm any increase in fees in writing at least 3 months before any increase is due to take place.

How do initial fees work with my reviews?

There will be a fixed agenda for your review and this is covered by our ongoing fees. If as part of the review a separate need is identified or raised by you then this will form part of the advice fee. You will not be charged for the time taken to do the review.

Sometimes this will be particularly complex to work out, however your adviser will come to an agreement with you as to what is a fair amount of time that was allocated towards the fee.

How do you work out the time spent?

Your adviser will be able to provide an estimate of the likely time required to provide the advice. Our paraplanning team record their time separately and this will be factored into the calculation.

The charges may vary depending on the services you require. Details of this can be provided on request.

Can I cancel my ongoing services?

You can cancel our services at any time by giving notice in writing. We reserve the right to charge you for any services that may have already been provided.

–  –  –

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

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