This Practice is authorised and regulated by the Financial Services Authority (FSA) and bound by their rules. Our FSA registration number is 135693. We are required to include the following statement in our terms:
Those who advise on life assurance, pensions or unit trust products are:
EITHER: Independent Advisers
OR: Representatives of one company.
OR: Representatives of more than one company.
Your adviser is Independent and will act on your behalf in advising you on life assurance, pensions and unit trust products.
Because your adviser is Independent we can advise you on the products of all the companies in the market.
We are permitted by the FSA to provide Independent Financial Advice on the following products:
1.Life including Term Assurance and Pensions.
2. Collective Investments including Unit Trusts.
3.Direct Investments; namely share exchange schemes, new issues and privatisations.
4.Individual Savings Accounts placed through an Authorised Principal.
5.Mortgage Products from Building Societies and Central Lending sources.
6.General Insurance Products including:
•Group Life and Health Insurance Schemes
•Personal Life and Health Insurance Schemes
•Medical Assurance using BUPA, PPP and Norwich Union Healthcare etc.
•As an Introducing Appointed Representative of T&R Direct Ltd Household, Motor, and Corporate Cover.
If a recognised Introducer introduces a Client to the Practice, we reserve the right to share commission and fees received with that Introducer. In these circumstances, the whole amount of the commission and fees received will be credited against the Client’s account and treated as if it had been received totally for the benefit of the Practice when calculating the Client’s liability to pay fees.
IT IS NOT OUR WISH TO HANDLE CLIENT’S MONEY DIRECTLY WITHIN OUR PRACTICE AND ACCORDINGLY WE HAVE NOT APPLIED FOR AUTHORITY FROM THE FSA TO DO SO. WE STRESS, THEREFORE, THAT ANY CHEQUES SENT OR HANDED TO US, SHOULD ALWAYS BE MADE OUT IN FAVOUR OF THE ASSURANCE, INVESTMENT COMPANY OR PROVIDER CONCERNED. THEY SHOULD NOT, UNDER ANY CIRCUMSTANCES, BE MADE PAYABLE TO THIS PRACTICE.
There is only one exception to this rule and that is in the case of settlement of a fee or disbursements invoice, when obviously the cheque should be made in favour of the Practice.
Should the Practice from time to time handle documents of title or of value on behalf of the Client, this fact will be logged and the documents, whilst in our keeping, placed in safe custody. We will make arrangements for all the Client’s investments to be registered in his/her name unless the Client first instructs us otherwise in writing.
It may be necessary from time to time, when circumstances warrant, to disclose more than just your basic contact details. On such occasions these will only be disclosed on a confidential basis and in accordance with the Data Protection Act 1998, to an appropriate third party. This information may be transferred electronically by fax or e-mail.
We will forward to the Client all documents showing ownership of the Client’s investments as soon as practical after we receive them. Where a number of documents relating to a series of transactions are involved; we will normally hold each document until the series is complete and then forward them to the Client.
The Client has the right of inspection of copy contract notes, vouchers and copies of entries in the books of the Practice where they relate to the Client’s transactions and these records will be maintained for six years from the date of each transaction. As we treat all client records as confidential, we reserve the right not to give the Client copies of his/her records if to do so would allow access to files containing the records of other clients.
If you make a valid claim against the Practice in respect of an investment or a mortgage that we arrange for you and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme (FSCS), details of the cover provided by the Scheme are given in a leaflet which we will send you at your request. Further information is available from the Financial Services Compensation Scheme. In the interests of our Clients, the Practice holds Professional Indemnity Insurance.
Though this Practice is remunerated for its services by the levying of Fee Invoices, these may not be charged where they are offset by payments made direct to us by the companies with whom the Client’s investments are placed. This arrangement is always with the full agreement of the client. Should there be any need to levy charges separately , or should the payments be insufficient to cover our charges, the Client will be invited to complete an appended Fee Agreement.
We derive income from payments made to us in respect of transactions in life assurance, unit trusts and other regulated collective investment schemes and in investment trust companies’ shares held in a PEP/ISA or regular savings scheme. We shall tell you the amount of commission payable to us on any such investment.
We offer independent financial advice, but an occasion could arise where we, or another of our clients, will have some form of interest in business, which 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.
We undertake not to transact on the Client’s behalf, any business in which we have a material interest, other than the receipt of agreed payments, unless that interest is disclosed to the Client in writing.
If we receive a commission or other form of benefit from the issuer of a security or from another intermediary we will inform you, but we will not tell you its amount unless you ask us to do so.
When we have arranged any investments for which the Client has given us instructions, we will not, as a matter of course, provide the Client with further advice unless the Client instructs us to do so, but we will be glad to advise the Client at any time upon request.
We will accept verbal and/or written instructions from the Client to provide any of the above services, but stress that for the avoidance of possible dispute written instructions are preferred. The Client’s authority for us to act on his/her behalf as Financial Adviser may be terminated by the giving of immediate notice by the Client in writing to our offices, at which time the Client shall pay for any transactions or Fee Advices outstanding.
If you should have a complaint about the advice you receive please write to:
Mr. C A M Mayes
Boyett Mayes & Associates
Telephone: 01344 301616
Facsimile: 01344 803213
If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service.