James Ryan Thornhill Ltd Investment Services and Charges

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1 James Ryan Thornhill Ltd Investment Services and Charges Our Status James Ryan Thornhill Ltd is authorised and regulated by the Financial Conduct Authority under Firm Reference Number The Financial Conduct Authority now regulates all aspects of consumer credit and will relicense us in In the meantime, we hold FCA interim permissions as credit brokers and debt counsellors. We also hold FCA interim permission to provide consumer credit by allowing payment of our initial advice charge by instalments. All investment advisers hold the prescribed qualifications and a current Statement of Professional Standing. Nonadvising staff have qualifications and/or experience appropriate to their roles. Staff who deal with investment and life protection business are subject to a continuing programme of development and assessment. The basis of our service We act as brokers when assisting customers with Pure Protection which means life and/or health insurance with no investment element. Before making a recommendation, we research either of the whole market or a representative sample; and will tell you which level of product research applies. We also provide Investment advice and investment mediation service. The term investment includes all types of investment vehicle, pensions, retirement benefits, and life and/or health policies with an investment element. We will analyse your financial planning needs and research suitable options on the assumption that, if it is suitable for you, we will arrange an investment, pension or retirement benefit product on your behalf. The mediation process will comprise these stages 1. Gathering / confirming / updating information about you the factfind or know your client stage. 2. Conducting research to find options suited to your needs. 3. Providing you with general and specific information, forecasts etc to enable you to make an informed decision. 4. Recommending specific solutions, including information about the cost of arranging these solutions. 5. Acting between you and the product provider, with a view to arranging the sale / purchase of the agreed investment based product. 6. If you agree to an ongoing review service, periodically monitoring your position to ensure the [products/s continue to meet your requirements. Under current HMRC regulations and guidance, our mediation services are not subject to VAT. Pure advice, distinct from mediation service, is subject to VAT. When providing investment mediation, we are Independent Financial Advisers. We will recommend investments based on a comprehensive and fair analysis of the market. Unless you instruct us otherwise, we will place no restrictions on the Investment Markets we will consider before providing investment recommendations. However, we will only make a recommendation when we know it is suitable for you. We do not hold clients money. Any payments to investment product providers must be made by direct debit / standing order or by cheque payable to the provider. (We will hold any noninvestment premium payment made through James Ryan Thornhill Ltd in a statutory trust and will pass it promptly to the provider.) Our Service Levels Unless specifically agreed otherwise, all clients are Retail Customers. This classification gives clients the greatest possible regulatory protection under current FCA rules. We also classify clients either as Transactional or as Relationship Customers. Transactional customers require us to assess their ad hoc needs, recommend a suitable product/s and arrange it for them, at which point our function is complete. They do not require or expect ongoing service: any further service would be the subject of a separate contract. JRT Service Proposition 7.3 Revised Page 1 of 6

2 Relationship customers require ongoing monitoring of products we have mediated. They contract us to reassess their position from time to time, considering the continued suitability of previously mediated investments. They also qualify for specified ancillary services as part of the relationship. Our Service Packages and Options The Relationship service levels offered by James Ryan Thornhill Ltd are Premium and Signature. Premium is suitable for the majority of Investment, Pension, and Annuity Relationship Clients, irrespective of the size of their investment or wealth portfolio. It includes analysis, mediation and regular postsale contact. We designed our Signature service for clients who want our fullest range of regular investment and pension expertise and technical support, at an inclusive periodic charge (subject to fair use limits). It includes regular postsale contact, attitude to risk reassessment and fund switching whenever appropriate. Clients selecting this level of service are likely to hold large portfolios and/or have an adventurous attitude to investment risk combined with significant capacity for investment loss. However, this level is equally suitable for clients with more modest investments but who particularly want a comprehensive support and mediation service. Initial Mediation Inclusive for all Service levels Initial assessment of investment and protection needs including o o o Attitude to risk and reward Capacity for loss Specific investment attitudes (eg ethical investment, geographical preferences) Investment research and report/s forecasts etc Specific recommendation of a suitable product We will explain our charges at the first meeting. We will give you a realistic estimate of our total charges as soon as we are able to do so. This would usually be when we have assessed your needs and can make a recommendation. Our Guide Minimum Lumpsum Investment is 12,000. We are a community practice and try to offer affordable advice. To foster an inclusive business culture and avoid financial exclusion, we may accept smaller longterm investments. Ongoing Mediation Service levels Transaction Premium Signature Periodic Valuations Provider statements and interim valuations Home / workplace consultations on request All NG postcodes 15 mile radius of our office Access to our support team In connection with the mediated product only For plans not mediated by James Ryan Thornhill Access to a financial consultant On request (may be chargeable) Ongoing access to a consultant Ongoing access to your personal consultant Regular enewsletter Periodic Reviews * o Suitability of Investment Vehicle/s o Risk profile and capacity for loss o Review Asset Allocation (if required) o Significant tax changes alerts JRT Service Proposition 7.3 Revised Page 2 of 6

3 o Updates and valuations Six monthly (min) Annually o Fund switch mediation up to 5 per year Up to 10 per year Comprehensive financial health checks o Assistance with Tax planning * o Assistance with Estate planning * o Income + Expenditure review and forecasting o Liaison with accountant and solicitor Maximum 5 hours per quarter Continuing Advice charge 0.5% 1.0% subject to quarterly minimum > 0.75% % For example if your investments were valued at 30,000 and you had selected our Signature 1%, we would receive 300 (annualised) as our ongoing management fee. This less than our minimum ongoing service fee, so we would charge you a balance of per annum ( quarterly). If continuing advice is paid for as a percentage of the fund value, the amount will rise when fund values increase but would decrease if funds fell in value. We would still be entitled to the agreed minimum quarterly charge. Where charges are quoted as a percentage of a fund value, we will give you an estimate of the total you can expect to pay, expressed in cash terms. * When a review results in mediation for a new product, a separate fee is payable for that mediation. Specific and Additional services If applicable, VAT will be added at the rate in force at the Tax Point Max fee (GBP) Full Financial planning review Home consultation, or workplace meeting for personal (noncorporate) business o Within 15 mile radius of our office o NG postcodes outside 15 mile radius Obtaining client authority and registering with up to three existing product providers Registering authority on the same occasion: each additional product provider Fund switch not included in relationship service level Bed & ISA Transaction (unit trust switched into ISA within CGT limits) Full Mortgage Service Research, recommendation, Report and mediation Remortgage research and mediation no increased borrowing Mortgage research and mediation further advance / increased borrowing Mortgage research and mediation debt consolidation Ad hoc investment review Ad hoc pension review JRT Service Proposition 7.3 Revised Page 3 of 6

4 Ad hoc Protection review Specific report and recommendation At retirement advice and mediation Forwarding provider s annual statement, without comment, if sent to our office Nil Sixmonthly Statement where not included in current service level (per statement) Quarterly Statements per year (if not included in current service level) Advising and arranging life policy trust (Per policy) Other investment services maximum hourly rate (We will give you our estimate of the time likely to be required to carry out your instruction, and hence the cost, before you incur any charges) Material Interest We will act honestly, fairly and professionally, conducting business in our clients best interests. We or one of our other clients may sometimes have a collateral interest in business transacted for you. If we find this has happened, or if we think our or another client s interests may conflict with yours, we will explain what we will do to ensure your fair treatment. We will continue with your instructions only if you still agree to our doing so. We are forbidden to accept any undisclosed payment or benefit likely to conflict with our duty to clients. Cancellation Rights We will inform you of your statutory right to cancel. Current regulations normally usually allow you 30 days in which you may cancel an investment or pension contract. However there are occasions where this doesn t apply. We will alert you to any cancellation limitation you accept our recommendation. Complaints We will always try to give satisfactory service but, if you wish to register a complaint, please write to: DelRyan Rafter, James Ryan Thornhill Ltd, 41 Wollaton Road, Beeston, Nottingham, NG9 2RN. Telephone We will acknowledge your complaint in writing and will normally send you our Final Response within eight weeks. If you are still dissatisfied, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). We will give you details of how to do so, and will cooperate fully with the Ombudsman. BuytoLet mortgages are not regulated by the FCA, and the FOS has no power to consider complaints. Financial Services Compensation Scheme ou may be protected by the Financial Services Compensation scheme (FSCS) if we or the product provider become insolvent and cannot meet our obligations, but the scheme does not cover BuytoLet Mortgages. The compensation limits are Investment claims and mortgages, 100% of the first 50,000 per separate provider. Deposit accounts, 100% of the first 85,000 per separate provider. Joint mortgages / investments / deposits, the full limit applies for each party. Noncompulsory insurances with no investment element: 90% of the claim, with no upper limit. Compulsory insurances, no limit ou can obtain information directly from the FSCS by visiting their website JRT Service Proposition 7.3 Revised Page 4 of 6

5 Data Protection The way we use and safeguard your personal information is governed by the Data Protection Act 1998 ( the Act ). By signing this agreement, you authorise us and any company associated with us to process your personal data for mediation and/or associated administration and management. Processing includes obtaining, recording or holding information or data, transferring it to other companies associated with us, product providers, the FCA or any other statutory, governmental or regulatory body for legitimate purposes including, where relevant, to solicitors and/or other debt collection agencies for debt collection purposes and carrying out operations on the information or data. If you consent, we may also contact you or pass your details to other companies associated with us to contact you (including by telephone) with details of any other similar products, promotions, or for related marketing purposes in which we think you may be interested. our personal details may include personal data defined by the Act as sensitive. This could include information about your physical or mental health; commission or alleged commission of any offence; any prosecution, including the outcome or sentence; your political, religious or similar opinions and beliefs; sexual orientation; or your membership of a Trade Union. If at any time you wish us or any company associated with us to cease processing your personal data or sensitive personal data, or contacting you for marketing purposes, please contact The Data Protection Officer on or by writing to41 Wollaton Road, Beeston, Nottingham. NG9 2RN. We, and company/ies associated with us, will treat all types of personal data as confidential and will process it only for legitimate purposes. We will take steps to ensure that information is accurate, up to date and retained for no longer than is necessary. We will also protect it from unauthorised or unlawful processing and from accidental loss or destruction. Subject to certain exceptions, we must give you access to all personal and sensitive data we hold about you. We may charge you a fee for supplying you with such data the statutory maximum fee is currently 10 and we would charge that amount. Force Majeure We will not be in breach of this Agreement and will not incur any liability to you for any failure to perform agreed duties owing to any circumstances beyond our reasonable control. Termination Either party may terminate the authority to act on your behalf without penalty by giving seven days written notice to the other. Such termination is without prejudice to the completion of transactions already initiated. Any transactions effected before termination and a due proportion of any ongoing advice charges shall be settled to that date. Financial Crime We support and comply fully with antimoney laundering, terrorist funding and financial crime regulations. We will verify identity of all parties to investments, including trustees, and may verify the source of investment funds. VAT Under present legislation our mediation services are not subject to VAT. If this changes in future and VAT becomes payable, we will notify you before conducting any further work. Law and Communications This agreement is governed by English Law, and is subject to the exclusive jurisdiction of the English Courts. We will communicate with you in English either orally and in writing. If we accept your oral instructions, either by telephone or facetoface, we may require written confirmation. JRT Service Proposition 7.3 Revised Page 5 of 6

6 Agreement After consideration of the alternatives offered by James Ryan Thornhill Ltd, my preferred level of service is o Transaction es / No o Premium es / No o Signature es / No I want to pay the fees due to James Ryan Thornhill Ltd by (please delete as appropriate) o Cheque or cash quarterly / annually. o Credit / debit card quarterly / annually. o Provider facilitated adviser charge monthly, quarterly or annually as determined by the provider. Data Protection and Privacy I permit James Ryan Thornhill Ltd to use my personal data for its own marketing purposes only, with no disclosure to any other party except as required by Law ES / NO I/we further permit James Ryan Thornhill to pass my details to other companies associated with it so they may contact me/us (including by telephone) with details of any other similar products, promotions, or for related marketing purposes in which the firm thinks I/we may be interested. ES / NO This document is our standard Individual Client Agreement for investment services. We intend to rely on it as the basis of our dealings with you. For your benefit and protection, you should read the terms carefully. If you do not understand any point, please ask us to clarify it. The agreement is governed by English Law, and is subject to the exclusive jurisdiction of the English Courts. We will communicate with you in English both verbally and in writing. ou should sign this agreement only if you firmly intend to be bound by it. Customer Name(s) Customer signature(s) Date of signature James Ryan Thornhill Ltd 41 Wollaton Road Beeston Nottingham NG9 2RN Tel: Fax: Authorised and regulated by the Financial Conduct Authority FRN Company registered in England and Wales No JRT Service Proposition 7.3 Revised Page 6 of 6