ESTATE PLANNING IEP CLASSIC APPLICATION FORM

Transcription

1 ESTATE PLANNING IEP CLASSIC APPLICATION FORM ADVISED RETAIL CLIENTS ONLY How to Complete If you are completing this form by hand, please print clearly in black ink and block capitals If you are completing this form electronically, please print and sign where indicated Investor to fill out Sections 1a, 1b, 1c, 1d (if applicable), 2b, 2c, 3, 4 and Investor Declaration Advisers to fill out Sections 2a, 2d and Adviser Declaration Attorney to fill out Attorney Declaration (if applicable) Next steps Send this completed original Application Form to: Client Services Centre Ingenious 15 Golden Square London W1F 9JG Or a scanned copy of the completed and signed version by PDF/ TIFF attachment on an to clientservices@theingeniousgroup.co.uk Please see Section 3e for details of how to pay for your subscription You will receive acknowledgements from Ingenious on receipt of this Application Form and on receipt of cleared funds Any questions If you have any questions when completing this Application Form please contact your adviser or our Client Services Centre on clientservices@theingeniousgroup.co.uk Manage your investment Access to all correspondence and information regarding the investment shall be made available to authorised persons primarily in electronic format via the myingenious portal. ( Please refer to website for subscription deadlines ( When you have completed the form, tick the following to confirm: You have answered all the required sections including all of the questions detailed in Section 4. You (or your Attorney, acting under a Power of Attorney) have signed the declaration in Section 5. You have enclosed the necessary verification of identity documentation OR you have confirmed your consent under Section 1b. If you are acting under a Power of Attorney you have provided; -- a certified copy of the Power of Attorney; plus -- the necessary verification of identity documentation for each Attorney appointed to act. If you are paying for your subscription by cheque, you have enclosed your cheque made payable to WCSL IEP CARE/IEP CLASSIC CLIENT ACC. OR If you are paying by Bank transfer, you have arranged to transfer your subscription amount to the account in Section 3. Manager s Use Only Person ID: Opportunity ID: Investor Name: 1

2 APPLICATION FORM - ADVISED RETAIL CLIENTS ONLY 1a. About the investor Title First name address (required) Phone number Middle name Date of birth D D M M Y E A R Last name Previous address (if changed within the last three years) Address Postcode Postcode 1b. About the investor Please confirm if you are a US Person 1 2 If you ticked yes, please provide your Tax Identification Number (TIN) here: Yes No Please confirm if you are solely tax resident in the UK 2 Yes No If you ticked no, please complete the following table indicating (i) where you are tax resident and (ii) Your Tax Identification Number ( TIN ) for each country indicated. If a TIN is unavailable please provide the appropriate reason A, B or C where indicated below: Reason A - The country where you are liable to pay tax does not issue TINs to its residents Reason B You are otherwise unable to obtain a TIN or equivalent number Reason C - No TIN is required. (Only select this reason if the authorities of the country of tax residence entered above do not require the TIN to be disclosed) Country Reference Number Country of Tax Residence Unique identification number TIN If a TIN is unavailable, please confirm the reason A, B, or C above. If you selected reason B, please explain the reason why you are unable to provide a TIN. 1 A B C 2 A B C 3 A B C 2

3 abc ESTATE PLANNING - IEP CLASSIC 1b. About the investor continued Where you have indicated reasons A, B or C above for any country of residence, please complete the following table: Country reference number (as above) Other identification number (if no TIN available) Description 3 Number US Person includes: 1) individuals who are United States of America (US) citizens (including dual citizens) or resident, US passport holders, green card holders, individuals born in the US who have not renounced their citizenship, permanent residents of the US and those with a substantial presence in the US as defined in US tax law; 2) a partnership or corporation organised in the US or under the laws of the US; 3) certain trusts with a US nexus; and 4) a non-us entity which is controlled by US Persons (if you are in any doubt as to whether you are a US Person you should consult an adviser). 2 Please note that your tax residency details and certain financial information relating to your investment may be shared with the local jurisdiction in which you are tax resident under any of the following agreements or arrangements implemented by the International Tax Compliance Regulations 2015: the European Union Council Directive 2011/16/EU, the OECD s Common Reporting Standard or the United States Foreign Account Tax Compliance Act. 3 e.g. a social security/insurance number, citizen/personal identification/service code number, and resident registration number. 1c. Investor identification Please provide either your full 30 Digit UK passport number. UK Passport number Date of expiry D D M M Y E A R OR 16 Digit UK Driving Licence. UK Driving Licence Issue Date D D M M Y E A R For clients in Northern Ireland, please use passport number rather than driving license number. In order to verify your identity and address we will use an electronic verification service provided to us by GB Group plc, or such other third party service provider as may be engaged by us or GB Group plc from time to time to provide these or similar services. Please tick the box to indicate that you consent to the access, processing, use and storage of the identity information contained in this Application by GB Group plc and/or the Manager for the purpose of completing your identity verification check. If you do not consent to the use of the electronic verification process or in the event that we are unable to electronically verify your identity and/or address. We may request that you supply us with any of the following original certified copy documents: passport, photocard driving licence, utility bill, bank statement, credit card statement, council tax authority bill, full driving licence and/or introducer s certificate. We will contact you to inform you which of these are required. 1d. Investor bank account details Please provide details of the bank account to which you would like any distributions from the Service to be credited. Where the bank account is in the name of a third party you will need to provide documents to verify the identity of the account holder for anti-money laundering purposes. Account Name Sort Code Account Number Roll Number (if applicable) Bank Name 1e. myingenious registration The Manager will provide you with access to myingenious, our online client portal which we will use to provide you and your adviser with information and documentation regarding your investment. If you do not wish to register to use myingenious and would prefer to receive hard-copy communications, please tick this box. 3

4 APPLICATION FORM - ADVISED RETAIL CLIENTS ONLY 2a. If you are completing this application as Attorney or Deputy of the Court of Protection To be completed by the person(s) appointed either as an Attorney under a Power of Attorney or as a Deputy appointed by the Court of Protection. Is there a registered Power of Attorney or have you been formally appointed a Deputy? No Yes if Yes please complete this section. Unless otherwise agreed, all correspondence will be sent to you as the Attorney or Deputy. If there is more than one Attorney please contact us to discuss. Please also provide copy correspondence and allow access to the myingenious No Yes portal to the investor Title First Name(s) Postcode Address Last Name Organisation Name (if applicable) Phone Number Address Date of Birth D D M M Y E A R 2b. Attorney or Deputy identification Attorney: Please provide either your full 30 Digit UK Passport Number. UK Passport Number Date of Expiry D D M M Y E A R OR UK Driving Licence Your 16 Digit UK Driving Licence Number. For clients in Northern Ireland, please use passport number rather than driving licence number. Issue Date D D M M Y E A R Attorney or Deputy identification In order to verify your identity and address we will use an electronic verification service provided to us by GB Group plc, or such other third party service provider as may be engaged by us or GB Group plc from time to time to provide these or similar services. Please tick the box to indicate that you consent to the access, processing, use and storage of your information contained in this Application Form as described above for the sole purpose of completing your identity verification check. If you do not consent to the use of the electronic verification process or in the event that we are unable to electronically verify your identity and/or address, we may request that you supply us with any of the following original certified copy documents: passport; photocard driving licence; utility bill; bank statement; credit card statement; council tax authority bill; full driving licence and/or introducer s certificate. We will contact you to inform you which of these are required. Investor Correspondence The person(s) appointed either as an Attorney under a Power of Attorney should receive all investment correspondence on the Investor s behalf. Yes No 4

5 abc ESTATE PLANNING - IEP CLASSIC 3a. About the adviser Title Postcode First name(s) address Last name Company name Phone number Company address Company FCA number Individual FCA number 3b. Providing your adviser with access to your investment information and correspondence We will provide copies of, or access to, all correspondence and information provided to you regarding your investment, primarily in electronic format, to one third party adviser or other person nominated by you (Access). Please either tick the box or complete the details below in order to authorise the Manager to provide Access. You may change or update these details at any time by contacting the Manager. Access should be provided to: Adviser (please tick) OR (please fill in below): Title First Name(s) Postcode Address Last Name Organisation Name (if applicable) Phone Number Address 3c. Adviser Charge - to be completed if you wish us to facilitate a payment from you to your Adviser in respect of an adviser charge Following the introduction of the Retail Distribution Review (effective from 31 December 2012), advisers must not solicit or accept commissions or certain other payments in connection with advice given to Advised Retail Clients in respect of retail investments from product providers. However, Advised Retail Clients may in such circumstances pay an adviser charge in connection with such advice and a retail investment product provider, such as the Manager, may facilitate the payment of an adviser charge from the client to the adviser. Upfront Adviser Charge Payment Enter the total amount of any adviser charge (including VAT payable on such amount) that is required by the Investor to be facilitated by the Manager (Upfront Adviser Charge Amount): Ongoing Adviser Charge Payment We can facilitate an ongoing adviser charge either as a fixed amount or as a percentage of the aggregate value of your investment. Enter the total annual amount or percent of any ongoing adviser charge (including VAT payable on such amount) that is required by the Investor to be facilitated by the Manager. The amount stated is an annual amount however, we will pay the on-going adviser charge in quarterly instalments, (currently February, May, August and November). OR % If I choose to pay a percent of the value of my investment, I understand that the amount of the payment will fluctuate in line with the value of my investment. If I choose a fixed amount I understand the quarterly installment will be calculated on a daily rate multiplied by the number of days in that period. 5

6 APPLICATION FORM - ADVISED RETAIL CLIENTS ONLY 3d. Adviser bank account details Please complete the bank details to which any Adviser Charges Amounts should be paid Account Name Bank Name Account Number Sort Code 3e. About the Subscription Subscription Amount (A) Amount to be invested (minimum 25,000)*: *Subject to the Manager s discretion to accept a smaller amount. (B) Upfront Adviser Charge Payment (per section 2c): Total amount to be remitted (A+B): Please indicate how you will pay your subscription: By Cheque By Bank Transfer Cheques should be made payable to WCSL IEP CARE/IEP CLASSIC CLIENT ACC Bank transfer account details: Account Name: Sort Code: Account Number: Reference: WCSL IEP CARE/IEP CLASSIC CLIENT ACC* Please quote your last name and initial(s) as a reference on any bank transfer. This will assist us in identifying your payment. *For electronic payments this can be abbreviated to WCSL IEP CLASSIC. Annual Payments You can choose to receive an Annual Payment from the Service either as a fixed amount or as a percentage of the aggregate value of your investment as at 31 December each year. If you wish to receive an Annual Payment, please enter the amount or percent: or % Drawdown Election Please tick the box if you wish to drawdown the growth in the value of your Portfolio on an annual basis. 6

7 abc ESTATE PLANNING - IEP CLASSIC 4. Suitability - Your application cannot be accepted if this section is not fully completed The Manager is required by the FCA Rules to obtain sufficient information from you to determine whether your investment in the Service is suitable for you. Therefore it is important that you provide all of the information requested below. Please complete all sections. If you are completing this Application Form under a Power of Attorney, you should complete sections (a) to (c) as the Power of Attorney and complete sections (d) and (e) as the investor. (a) Investment Objectives IEP Classic offers investors an opportunity to acquire beneficial ownership of shares in unquoted companies conducting permitted activities for BR purposes. Investments in BR Companies must be held for at least two years (and held at the date of death) in order to benefit from inheritance tax relief. If the investment is made using the proceeds of sale of a previous BR qualifying asset the minimum holding period may be shorter. The Investment Strategies of the Service are set out in more detail in the Brochure. You may elect to receive regular Annual Payments and Drawdown Payments and request Emergency Payments at any time, subject to available liquidity and at the Manager s discretion. In line with the FCA s requirement to establish a meaningful benchmark, the performance of the Service will be assessed against cash (UK Sterling base rates). The Manager will not borrow money on behalf of Investors, nor lend securities or enter into stock lending or similar transactions. Confirmation Please tick the appropriate boxes below to confirm the following: You understand the investment objectives and risk profile of IEP Classic Yes No The objectives and risk profile of IEP Classic are consistent with your personal investment objectives Yes No You understand that your investment may be held for many years or indefinitely Yes No You understand that BR would not be available to the extent that your acquisition of the shares was funded by way of a liability (e.g. a loan) incurred on or after 6 April 2013 Yes No (b) BR (Business Relief) If you cannot take advantage of BR, the Service may not be a suitable investment for you. Please answer the questions below: Do you wish to take advantage of BR in respect of the investments made by the Service on your behalf? Yes No Do you consider it likely that you will personally hold this investment for at least two years? Yes No Are you funding this investment with the proceeds of disposal of a previous BR qualifying asset? Yes No (c) Investment Experience and Understanding Please confirm which, and how many, of the types of investments listed below you have previously made in the last five years: Tax efficient investments (including VCTs, EIS, EZT) Entities quoted on the main market of the London Stock Exchange AIM-listed companies, or companies which are not listed On average, how much do you cumulatively invest each year in new investments of the types listed above? None Less than 10,000 10,001-25,000 25, , ,001+ (d) Employment and Source of Income Please provide the following employment details: Employment status (e.g. employed/self- employed/retired): Source of income (e.g. earnings/investment income): Occupation/professional position*: *Please indicate if you hold or have previously held a position in the financial services sector relevant to this investment, if you hold a professional qualification (e.g. ACA, ACCA, CTA, Securities Institute Cert/Diploma), or if you are a professional (e.g. accountant, stockbroker or solicitor). 7

8 APPLICATION FORM - ADVISED RETAIL CLIENTS ONLY 4. Suitability Continued (e) Financial Situation Do you expect to request Annual Payments from the Service at any time in the future? Yes No Please state the source of your subscription: Capital gain Savings Earnings Other (please specify) Please indicate your annual disposable income (after all regular financial commitments): ,000 50, , , , ,001+ Do you expect your annual disposable income to meet your standard annual outgoings? Yes No If not, please confirm how you intend to meet your outgoing needs: Are you aware of any significant additional capital commitments over and above your standard outgoings which cannot be funded from your disposable income or liquid savings? If your answer is Yes, please confirm how this commitment will be funded: Yes No Please state the value of your net assets (other than your principal residence and net of any loans): ,000 50, , , , , , ,001-1million 1million+ Please state the value of your principal residence and any other residential properties: Not a property owner 1-250, , , ,001+ Please state the value of any property investments: Not a property owner 1-250, , , ,001+ 8

9 TERMS & CONDITIONS abc ESTATE PLANNING - IEP CLASSIC Investor Confirmations Capitalised terms not defined in this Application Form (which includes these Terms & Conditions) have the meaning given to them in the Brochure issued by the Manager in relation to the Service (the Brochure). In the event of any conflict between the provisions of the Brochure and this Application Form, the Brochure shall prevail. I confirm that: a) I am applying on my own behalf or under Power of Attorney; b) I have read the Brochure and the Investor Agreement, I have understood and I agree to be bound as a party to the terms of the Investor Agreement and authorise the Manager to enter into the Custodian Agreements on my behalf; c) I accept that the information supplied at Section 4 above is only given to enable the Manager to assess the suitability of the Service for me. I acknowledge that the Manager is not providing investment, legal, financial, tax or other advice and that any tax information provided to me is in the context of an investment into the Service; d) I have read this Application Form and I confirm that I have provided information on my personal and financial circumstances which is true and accurate at the date of this Application Form in order that the Manager may assess the suitability for me of investment in the Service. I confirm that such information will be true and accurate at the date upon which this Application Form is accepted by the Manager. I understand that the Manager may decline to act on my behalf in the event that the information provided is incomplete or inaccurate; e) I will notify the Manager if the information on my personal and financial circumstances as provided in this Application Form changes; f) I have advised the Manager if I am a solicitor or accountant or other professional person who is subject to professional rules preventing me from making investments in particular BR companies; g) I consent to the Manager and Custodian making appropriate enquiries to verify my identity as required by the Money Laundering Regulations and understand that this may include an enquiry to a credit or mutual reference agency which may retain a record of the enquiry; h) I consent to the Manager s Order Execution Policy and provide my express consent that, on occasions when the Manager passes an order to another party for execution, the counterparty may execute the trade outside a regulated market or multi-lateral trading facility and may not publish any unexecuted client limit orders; i) I will notify the Manager if I become a US Person (as defined in Section 1a About the Investor ), or become a resident for tax purposes of any additional jurisdiction other than the UK; j) I consent to the holding and processing of my personal data in the manner and for the purposes described in this Application Form and the Investor Agreement. Adviser Charge Confirmations I confirm that: a) the Adviser Charge Amount is to be paid by the Custodian on the instructions of the Manager to my Adviser; b) the Upfront Adviser Charge Amount will not be invested in any Companies and will not qualify for any BR; c) any subscription returned to me following any cancellation or withdrawal by me from the Service will be returned net of the Upfront Adviser Charge Amount and I acknowledge that there shall be no right of recovery in any circumstances from the Manager, any other Ingenious entity, the Custodian of any Adviser Charge Amount; d) where amounts paid by me (by cheque or bank transfer) in respect of this application are less than the total amount subscribed for by me in this application (including any Upfront Adviser Charge Amount in Section 2c) the Manager may reduce the application subscription amount (detailed in Section 3) by that amount necessary to ensure the Manager has sufficient funds from me to be able to pay the Upfront Adviser Charge Amount to my Adviser; and e) the Upfront Adviser Charge Amount (if any) is inclusive of any applicable VAT and I agree to reimburse the Manager for any VAT that is incurred by the Manager or any affiliated company or the Custodian on the Adviser Charge Amount which is not recoverable by the incurring entity. Annual Payments, Drawdown Elections and Ongoing Adviser Charges Subject to the below, the Manager will endeavour to facilitate all Annual Payments and Drawdown Payments in February of each year. Note that Drawndown Elections and requests for Annual Payments (including a request/election made on this Application Form) must be received prior to 31 December in each year to qualify for payment the following February. The Ongoing Adviser Charge is only payable while the Investor remains in the Service. The first Ongoing Adviser Charge payments will be calculated on a pro-rated basis covering the period from the date of investment (or, if later, the date the request to pay an Ongoing Adviser Charge is received). If the Ongoing Adviser Charge is less than 250 per annum the Manager may, at its discretion, pay the charge on an annual basis. All Annual Payment Requests and the instruction in this Application Form to pay the Ongoing Adviser Charge will each be deemed to be a standing instruction until the Manager is notified otherwise in writing. All Payments and Ongoing Adviser Charges will be facilitated by way of a transfer of shares or a reduction of share capital, reducing the number of shares held in the Service. All payments will be executed by reference to the latest published NAV on the date the relevant payment request is processed and will be subject to the deduction of the dealing fee and any other costs and expenses that are payable in accordance with the Investor Agreement. Data Protection Confirmation I confirm that by providing personal information as part of my application and by signing this Application Form, I consent to the holding and processing of my personal information as follows and as set out in the Investor Agreement. The Manager is registered under the data protection laws of the United Kingdom. Except as stated below, or as may be required by any bank (or other FCA regulated entity) with whom the Service, the Custodian, the Depositary or any Portfolio Company has an account, the Manager will not make the personal information provided by me as part of this Application Form available to any person or entity outside the group of entities that are Associates of the Manager (the Group) other than to a third party service provider as part of the identification process set out in the Application Form, to the Custodian and its nominee(s), the Depositary, where required by law or, if requested, by any regulatory or tax authority having jurisdiction over any member of the Group, to investigate or prevent fraud or other illegal activity, or at my request or with my consent. This personal information may be used by the Manager and/or any member of the Group to send me details of new and existing investments or other opportunities which may be of interest to me (including by ) unless I notify the Manager in writing that it may not be used in this way. 9

10 APPLICATION FORM - ADVISED RETAIL CLIENTS ONLY Investor Confirmations (Continued) Risk Factors As investment in the Service involves a high degree of risk, it may not be suitable for all investors. I have read and understood the detailed risk factors relating to an investment in the Service, as set out in the Brochure, which include the following: a) share prices, their values and the income they generate through dividends can go down as well as up and investors may get back less than their original investment b) past performance is not a guide to future performance; the extent and value of any tax advantages or benefits arising from the use of tax advantaged services such as ISAs, SIPPs and CTFs will vary according to the individual s circumstances c) tax, legislation, rules and practice may change d) early encashment may lead to some loss of capital. Cancellation Rights There is a limited period during which you have the right to cancel your Subscription. If you wish to exercise this right to cancel, you must notify the Manager in writing (to the contact details in Clause 20.2 of the Investor Agreement) within 14 days of the Manager accepting your Application Form. Documentation acknowledgement By ticking this box, I confirm that I have acknowledged, read and understood the Brochure of Ingenious Estate Planning Classic Investor declaration I confirm by signing below that I have read, understood and agree with the Investor Confirmations and give the confirmations and consents therein. Signature of Investor Date D D M M Y E A R Print Name Adviser declaration I confirm by signing below that the Investor is a customer of our company/firm and I have assessed the suitability of this investment in the Service for the Investor. I confirm that any payment to me that the Investor has required the Manager to facilitate is in relation to the provision by me of advice to the Investor in respect of this application and the amount has been agreed by me with the Investor in accordance with the rules on adviser charging and remuneration in COBS and is not a consultancy charge. Signature of Adviser Date D D M M Y E A R Print name Attorney or Deputy declaration I confirm by signing below in my capacity as attorney on behalf of the investor that I have read, understood and agree with the Investor Confirmations in this Application Form and give the confirmations and consents herein. Signature of Attorney/Deputy Date D D M M Y E A R Print name Ingenious Capital Management Ltd is authorised and regulated by the Financial Conduct Authority under Firm s Reference Number