When we meet, we will explain how we work on your behalf. We will discuss your current situation, your financial and personal objectives and obtain relevant information from you to enable us to make recommendations to meet your objectives. We will also discuss with you the options for payment (see separate section).
Eelah Ltd is an Appointed Representative of Emery Little Wealth Management Ltd and is regulated by the Financial Conduct Authority. Please feel free to check the Financial Services Register – our Number is 785801 – which you can access at https://register.fca.org.uk or by telephoning 0300 500 0597.
We are independent for Investments and pension business. This means that we will assess a sufficient range of relevant products available on the market, which is diverse in terms of product type and provider to ensure that your investment objectives can be suitably met. We are not limited in the type of product or provider in terms of having any close links with any firms or any contractual relationship with a third party that may impair the independent basis of our advice to you. When looking to address your protection needs, we will provide advice based on a fair and personal analysis of the market.
We charge a one-off initial fee for the Eelah: Initial process. We then ONLY charge flat fees for the ongoing Eelah service. We do not charge based on your assets under management. We charge on the basis of the service we provide and the value that we add. Our fees do not include custodian fees or provider charges.
Following the initial Eelah: Exploration meeting, which is held at our expense, we will confirm in writing the next steps of our advice process and provide total transparency and clarity of the fees payable.
Where VAT is applicable, we will highlight this to you before any fee is charged. However, as the intent is intermediation, it is unlikely that VAT will be chargeable.
As a client of Eelah, we will classify you as a ‘retail client’. This will provide you with the maximum regulatory protection available to you. Should your classification change in the future, we will advise you accordingly in writing and obtain your agreement before proceeding with any financial planning advice.
How we act for you: Compliance + Eelah
We will exercise due care and diligence in conducting our business, but will not be liable for any depreciation of investments arranged by us. In other words, markets go up and down, but we will always act with your best interests at heart. We will work with you to ensure your investment strategy is robust so that any dips in the market do not negatively impact your day to day life or your longer term financial plan.
We prefer our clients to give us instructions in writing to avoid possible disputes. We will, however, accept verbal instructions providing they are subsequently confirmed in writing.
Any advice we give you will normally be in writing, but if given verbally will be recorded on your file. Where any recommendation we make, or transaction we undertake for you, results in a right to cancel the policy under certain conditions, we will advise you of these rights. We will also tell you if you do not have a right to cancel the arrangement.
That being said, we want to save the planet, not create more streams of printed paper and written documents. In almost all scenarios, we will securely send you our ‘written’ documents via electronic means.
There may be occasions where we, or one of our clients, will have some form of interest in business that 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. If we can continue to act for you, we will tell you how we will ensure your interests are protected. On occasion, we may have to cease acting for you, but we will help you find advice from elsewhere if you want us to.
When we arrange investments for you, we will register these in your name unless otherwise agreed in writing. Additionally, we will ensure you receive either a contract note, documents of title, or certificates evidencing title. Where a number of documents relating to a series of transactions is involved, the documents will normally be retained until the series is completed.
All documents, cheques, and paperwork may be sent by post at the client’s risk as soon as we receive the documents from the product provider concerned. We shall at the client’s request and expense, send documents by registered post. In the absence of such a request, the client shall pay all charges incurred for the recovery or replacement of lost documents.
Any advice that we give will be based on your financial objectives and your attitude to investment risk. We will endeavour to ensure that any recommendation made is suitable for you. Any recommendation made will be confirmed in writing to you. Should you decline to provide the information requested regarding your circumstances then we may decline to continue with the business relationship since we would not be able to demonstrate that the recommendation is suitable given your financial circumstances.
Please note that if you reside outside the UK, you may wish to seek further advice from a local adviser in your place of residence regarding the impact of our advice in relation to local taxation, practices and law. This is because the advice we provide you will be on the basis of us being a UK Independent Financial Adviser and we do not have specialist knowledge of any legislation, taxation or financial practices outside the UK.
Eelah and its representatives are not qualified to provide legal advice and will not provide any opinion as to whether a client should complain about any previous advice received unless explicitly agreed. All communications, both verbal and in writing/electronic, will be in English.
All investments carry a degree of financial risk. Typically, the greater the risk taken, the greater the expected level of volatility and return. Before entering into any investment agreement, you must ensure that you understand the risk associated with the product and are content to accept that level of risk.
Investments can go down in value as well as up and you could get back less than you invest. The past is not a guide to future performance.
We do not handle client monies
Crossed cheques for premiums or investment monies can only be made payable directly to the product provider. No premiums or investment monies of any kind should be paid or made payable to anyone else.
The amount of contact that we provide to you is dependent on the service proposition that you agree to and this will be made clear within the ongoing Eelah Service Agreement that you will need to sign before becoming an Eelah: Family member.
Please make sure you are aware and comfortable with the amount of contact you will receive and you are aware of the limitations of the service chosen by you. You need to be happy that the service selected meets your needs.
Termination of this agreement
This agreement will remain effective and in force until such time that you, or we, wish to terminate the agreement. Either party may terminate our authority to act on your behalf at any time without penalty. Notice of this termination must be given in writing by first class post. It will be deemed to be received two business days after being posted.
Any business currently underway will be completed unless we receive your instructions to the contrary.
Any fees outstanding at the date of termination will be due within four weeks of the termination date.
Delay in Processing
Naturally, we will do all that we can to ensure that our actions are carried out as soon as possible. However, Eelah will not be held responsible for any delay beyond its control, or as a result of a failure by any party (including the client) to complete all the necessary steps to process a transaction.
We have a written policy for handling complaints and to ensure we deal with each complaint promptly and fairly. You can obtain a summary from us should you wish. Should you have cause to complain for any reason, a copy of the policy will be automatically sent to you.
Please direct your complaint to our Compliance Manager at the address of our principal, Emery Little:
Emery Little, Ebenezer Chapel, Bradden Lane, Gaddesden Row, Herts HP2 6JB
01582 841 222
If you are unhappy with any response to a complaint received from us, you may complain directly to the Financial Ombudsman Service who will then assess whether you have an eligible complaint before proceeding with an investigation. You can contact FOS via www.financial-ombudsman.org.uk or telephone: 0800 023 4567.
If you are an eligible claimant under the rules of the Financial Conduct Authority, you will also be protected by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. Compensation for investment advice is provided at £50,000 per claimant per defaulting firm. Non-Investment Protection cover for compulsory insurance is 100% of the claim with no upper limit and for other non-compulsory insurances, the cover is 90% of the claim with no upper limit.
Further information about compensation arrangements is available from the Financial Services Compensation Scheme. The Financial Services Compensation Scheme may also provide awards if any third party institution we may use is declared in default or insolvent.
We are obliged to conform with the UK Money Laundering Regulations and to the Joint Money Laundering Steering Group guidance notes. These regulations require all financial institutions to verify the identity and place of residence for each beneficial owner. In order to meet these requirements, we will require sight of certain documentation and confirmation as to where the investment monies are coming from. If you provide false or inaccurate documentation and we suspect fraud or money laundering, this will be recorded.
We reserve the right to approach a third party in order to verify the identity of a client, or any other person providing funds on behalf of an investment made in the client’s name.
Where further information is required to verify identity, we reserve the right to delay applications or withhold settlement until sufficient identification has been provided.
Not Readily Realisable Assets
We may on occasion, and if appropriate, advise you on investments that are not readily realisable. Where this is the case, we will draw your attention to the risks associated with these investments as there is a restricted market for them. In some circumstances, it may therefore not be possible to deal in the investment or obtain reliable information about its value.
Unregulated Investment Products
Our services may also include advice on investments relating to, or executing transactions in, units in unregulated collective investment schemes. Where we recommend an unregulated investment/product then we will confirm to you that the FCA does not regulate the investment/product and therefore you may not be afforded the protections from the Financial Ombudsman Scheme or the Financial Services Compensation Scheme.
Foreign Account Tax Compliance Act (FATCA)
The Foreign Account Tax Compliance Act (FATCA) requires US persons holding an interest in any specified foreign financial assets with an aggregate value exceeding $50,000 to report related information to the IRS.
- It is your responsibility to inform us if you:
- Have US citizenship or lawful permanent resident (green card) status;
- Were born in the US;
- Have a US residence address or US correspondence address (including a US PO box);
- Have standing instructions to transfer funds to an account maintained in the United States or directions regularly received from a US address;
- Have an ‘in care of’ address or a ‘hold mail’ address that is the sole address with respect to the client;
- Have a power of attorney or signatory authority granted to a person with a US address.
Please note that we are not responsible in any way for any reporting obligations that you may have in relation to FATCA. We may also share your FATCA status with other Financial Institutions, HMRC and/or the IRS if requested.
These Terms of Business are governed and shall be construed in accordance with English law and the parties shall submit to the exclusive jurisdiction of the English Courts.
Eelah ensures that all data will be held in compliance with current and future legislation. You consent to us releasing information about you to regulated entities in order to obtain any quotations/arrange investments or insurance at your request and/or for audit purposes.
It may sometimes be necessary to transfer personal information overseas. In this case, information may be transferred to countries or territories around the world. Any transfers made will be in full compliance with all aspects of the Data Protection Act.
We will keep you informed of financial products and services by email, telephone, fax, post or other reasonable means. If you do not wish to receive marketing material from the company please let us know.
For your security, and training purposes, telephone calls may be recorded. They may be used as evidence in the event of any dispute with us.
You agree to us sharing any information that we hold about you with a fraud reference agency should it be required.
You can access the data held by Eelah at any time. The information held about you, on both hard copy and computer, will be sent to you within 30 days of the initial request.
ð I do not wish to receive information from Eelah about the products or services of other carefully selected third parties.
Only tick the box above if you do not wish to receive details of third party products and services that may be of benefit to you.
Referrals to third parties
There may be occasions when we refer you to a specialist for advice such as tax advice. Should you use the third party introduced to you, please note that we are not responsible for the advice that they give you. You will be subject to their terms and conditions. They will agree their charges for their advice direct with you.
The terms of this Client Agreement will come into effect once issued to you. We reserve the right to amend these terms and will give you notice in good time before making material changes.
This is our standard agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully before signing them. If you do not understand any part, please ask for further information.