PIA WEALTH MANAGEMENT TERMS OF BUSINESS /CLIENT AGREEMENT DIRECT OFFER Introduction This document sets out our Terms and Conditions of business and includes a summary of the products and services that PIA Wealth Management offer as well as how we charge for our services. These Terms and Conditions of Business must be read in conjunction with any fee or service agreement issued to you by PIA Wealth Management, and must also be read in conjunction with any report and letters, product particulars and key features document issued to you by PIA Wealth Management. The Financial Conduct Authority (FCA) The FCA is the independent regulator of financial services. PIA Wealth Management is a trading style of Professional Independent Advisers Limited which is authorised and regulated by the FCA for investment business and is bound by the FCA rules. The FCA address is: The Financial Conduct Authority, 2 Endeavour Square, London E20 1JN. We are entered on the FCA s register and our FCA registration number is 125921.This can be checked on the FCA s register by visiting the FCA s website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768. You can also check the individual registration of your consultant on this register. Professional Independent Advisers Limited is regulated in the United Kingdom. Products and Services (Information Only No Advice) PIA Wealth Management is permitted to advise on and arrange (bring about) deals in investments. This client agreement is part of an information pack that we have provided to you and which contains information about the product including a letter from us. The information that you have been provided with, within this pack, contains information about the product so that you can decide if it is suitable for you. We have not provided any advice or assessed the suitability of this product to your individual circumstances. The only service we provide under this client agreement is helping with the administrative arrangements for you to obtain the product you have chosen. If you decide that the product is suitable for you and you want to apply for the product we will, on your instructions, make contact with the product provider to effect the administrative arrangements for you to obtain the product from the product provider. This client agreement relates to the arrangement of this particular product only. It covers no other existing or further services we may provide you at different times. Any other services we already provide or agree to provide in future, including the provision of advice, is or will be subject to a separate client agreement. 1 Direct Offer April 2019
With regards to investments which we arrange for you under this agreement, these will not be kept under review, but we will advise you upon your request. However, we may contact you in the future by means of an unsolicited promotion (i.e. where you had not expressly requested it) should we wish to contact you to discuss the relative merits of an investment or service which we feel may be of interest to you. If you are unsure whether this product is suitable for you and would like advice please contact us for information about our advice service, which is governed by a different client agreement. Clients Risk You are advised that because investments can fall as well as rise, you may not get back the full amount invested. Past performance is not a guide to future performance. Full details of the risk factors associated with the product we have arranged for you are contained in the product literature which you will be supplied with as part of our service to you under this client agreement. How We Charge for Our Services Our income could come either from payments, commonly called commission, from companies we arrange business with, or, in some cases, we may be paid a fee by another party. The amount of commission we will receive is explained within the information pack in which this client agreement is included. We can accept fees in place of commission for arranging business for you. Please contact us if you want to discuss this. Information about other costs and associated charges There may be other costs, including taxes, that are payable through other parties (such as the product provider) that we may not be party to. Such charges are normally disclosed in relevant third party documentation, for example a Key Features Document. Accounting to You When we arrange investments for you we will make arrangements for all your investments to be registered in your name unless you first instruct us otherwise in writing. We will forward to you all documents showing ownership of your investments as soon as practicable after we receive them; where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you. Conflicts of Interest Occasions can arise where we, or one of our other clients, will have some form of interest in business which we are transacting for you. Although this is unlikely, if we become aware that our interests or those of one of our other clients conflict with your interests, we will ensure that you receive fair treatment in accordance with the rules and guidance laid down by the Financial Conduct Authority. 2 Direct Offer April 2019
Client Classification PIA Wealth Management classifies all private individual clients as Retail Clients, and will endeavour to provide all clients with the level of service and advice that a Retail Client could reasonably expect. However, irrespective of our classification, any client who would ordinarily be considered to be a Business, Charity, Trust, Professional Client or Eligible Counterparty may not necessarily have rights under the Financial Ombudsman Service or the Compensation Scheme. We may also, on occasion, advise on other financial products which are not regulated by the FCA under the Financial Services and Markets Act 2000. The Financial Services Compensation Scheme does not apply to any of these products. Client Instructions We normally ask you to give instructions in writing. We may at our discretion, accept oral, facsimile or electronic instructions on the condition that written confirmation of any such instruction is issued on the same or next working day as the oral, facsimile or electronic instruction. PIA Wealth Management will issue all documentation and communications in English, and will only accept client communications and instructions in English. We may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning. Verification of Client Identity We are legally obliged to verify the identity and certain other information for all clients as well as recording the source of the funds being invested. We reserve the right, at our absolute discretion, not to proceed with a client s instructions when we are not reasonably satisfied with the lawfulness of the transaction. We accept no responsibility or liability for the consequences, whether direct or indirect, of any delay or failure to invest funds when our client verification requirements have not been satisfied in full. How We Protect Your Information & Means Of Communication You have been provided with a copy of our Privacy Policy Statement and this gives you full details of how we protect the information you give to us. We will provide information to you by whatever means are convenient to you. This could be by paper, email or other means. All such information will be made free of charge to you and in English. You may at any time choose to request information in paper and free of charge that has previously been provided to you by means other than paper. For example, where a communication was originally sent by email. You may at any time choose to change your preferences as to how we communicate with you. However, where you choose to do this, we will require you to confirm this change in writing to us. Client Money PIA Wealth Management does not handle client s money. We never accept a cheque made out to ourselves (unless it is a cheque in settlement of fees, charges or disbursements for which we have sent you an invoice), or handle cash. Any such cheques received by us will immediately be returned to you by ordinary post to your last known address. 3 Direct Offer April 2019
Product Cancellation Cancellation or withdrawal rights may apply depending upon the type of contract and whether the contract was concluded following a face-to-face recommendation or exclusively by one or more means of distance communication. An appropriate notice will be issued to you by the product provider together with confirmation of the contract terms entered into. If you cancel a single premium contract, you may incur a loss cancelling it caused by market movements since you originally set up the investment. This means that, in certain circumstances, you might not get back the full amount you invested if you cancel the policy. Policy Documents Policies, certificates or other documents showing ownership of your investments will normally be sent directly to you by the product providers concerned but if sent to us they will be forwarded to you as soon as is practical. Where a number of documents relating to a series of transactions is involved we would normally hold each document until the series is complete and then forward them to you. We do not otherwise offer clients a safe custody service, and accept no liability for the default of any third party to whom you instruct us to forward documents. 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. The FSCS was set up under the Financial Services and Markets Act 2000 and exists to protect clients of Financial Conduct Authority and previous regulator authorised firms covering deposits, regulated mortgages insurance and investments. The scheme can pay compensation to clients who have lost money as a result of their dealings with FCA authorised firms that are unable to pay claims against them, usually because they are insolvent or have stopped trading. The limit of protection varies between different types of products. For life assurance and noncompulsory insurance (e.g. home and general) the compensation level is 100% of the claim with no upper limit. Most types of investment business is covered up to a maximum of 85,000 per person per firm. The maximum level of compensation on deposit-based accounts from 30th January 2017 is 85,000 per person ( 170,000 for joint accounts) per firm (or banking/authorised group) Further information about compensation arrangements is available from the Financial Services Compensation Scheme. www.fscs.org.uk Legal Jurisdiction These terms of business exclude any rights which may be conferred upon third parties by the Contracts (Third Party Rights) Act 1999. These Terms of Business are governed by and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts. 4 Direct Offer April 2019
Complaints Clients are at the heart of our business and delivering an outstanding service is what we strive to do. However, we recognise that from time to time our clients may have cause to make a complaint. We are committed to dealing with complaints effectively and fairly in accordance with the Financial Conduct Authority's complaint handling rules and guidance. If you wish to register a complaint, please contact us via: The Compliance Manager at Professional Independent Advisers Ltd, Hayward Court, 2b Tettenhall Road, Wolverhampton, West Midlands, WV1 4SF. Email: compliance@piawm.net or Telephone: 01902 379900. If our clients are not satisfied with the outcome of their complaint, they will have the right to refer it to the Financial Ombudsman Service, free of charge, at The Financial Ombudsman Service Exchange Tower, London E14 9SR, or by going to their website www.financial-ombudsman.org.uk. A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request. Termination of this Agreement You or we may terminate this agreement and our authority to act on your behalf at any time, without penalty. Notice of this termination must be given in writing and will take effect from the date of receipt. Termination is without prejudice to any transactions already initiated which will be completed according to this agreement unless otherwise agreed in writing. You will be liable to pay for any transactions made prior to termination and any fees outstanding, if applicable. Signed Date.. For and on behalf of PIA Wealth Management Limited This is our Direct Offer client agreement upon which we intend to rely. For your own benefit and protection you should read the terms carefully before signing, as by signing you consent to the terms contained within. If there are any terms within this agreement that you do not understand, please ask for further information. The Client Agreement will come into effect from the date of acceptance of this agreement, which will be confirmed by the date provided in the date of signature box below, unless otherwise stated. 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.. Client Signature Date 5 Direct Offer April 2019