Hourly Paid CA
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Customer Agreement<br />
‘<strong>Hourly</strong> paid services’<br />
Comprising:<br />
One-off advice and related transactions<br />
This proposition is suitable for customers requiring one-off advice on matters.<br />
It is not suitable for customers requiring ongoing oversight and regular review of their<br />
affairs.<br />
The proposition charge is based on a standard hourly rate plus a maximum number of<br />
hours that is agreed in advance with that customer.<br />
Where available, clients have the option to pay directly as well as have the cost of<br />
services deducted from the value of financial products by the product provider<br />
Page 1 of 10 Customer Agreement <strong>Hourly</strong> <strong>Paid</strong> Services 15/1/2022
1. Reference<br />
1.1. The following reference is assigned to this agreement and should be used in conjunction with<br />
any communications regarding the services to be provided:<br />
2. Parties to this agreement<br />
2.1. This agreement is made between Leabold Financial Management Ltd (referred to variously<br />
in this agreement as ‘the Company’, ‘we’, ‘us’, ‘our’) and the following (referred to in this<br />
document as ‘the Client(s)’, ‘you’, ‘your’):<br />
3. Primary Contact<br />
3.1. The Company will deal with the following individual as the Primary Contact and classify its<br />
dealings with the Clients(s) in accordance with that individual’s understanding and previous<br />
experience of relevant financial matters:<br />
4. Designated Adviser<br />
4.1. The Company has designated the following individual to act in this capacity:<br />
4.2. F<strong>CA</strong> regulations require the Adviser to hold an approved qualification and statement of<br />
professional standing.<br />
4.2.1. The relevant qualifications held by the Adviser are:<br />
Qualification Awarding Body Date Awarded<br />
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5. Client Classification<br />
5.1. The Company will classify the Client(s) depending on the provision of the following services:<br />
5.1.1. In the case of ‘investment mediation’, this will be a ‘retail customer’. This<br />
means ‘a client who is not a professional client or an eligible counterparty’.<br />
5.1.2. In the case of ‘insurance mediation, this will be a ‘consumer’. This means ‘any<br />
natural person who is acting for purposes which are outside his trade or profession’.<br />
5.2. As either a ‘retail customer’, or ‘consumer’, the Client(s) may have recourse to the<br />
Financial Ombudsman Service in the event of a dispute with the Company reaching deadlock.<br />
The Client(s) may also be eligible for protection from the Financial Services Compensation<br />
Scheme should the Company be unable to cover losses arising from its own negligent acts.<br />
A customer defined as either ‘professional’, or ‘commercial’, would not receive these<br />
protections.<br />
5.3. If the Client(s) believes they should not be classified as a ‘retail customer’, or ‘consumer’,<br />
they will inform the Company immediately.<br />
6. The Company’s status<br />
6.1. The Company is registered in England and Wales under Companies House number<br />
05173817.<br />
6.2. The Company is a wholly owned subsidiary of Leabold Financial Management Holdings<br />
Limited, which is registered in England and Wales under Companies House number<br />
08296996.<br />
6.3. The Company is directly authorised by the United Kingdom financial services regulator,<br />
the Financial Conduct Authority (F<strong>CA</strong>), to undertake activities regulated under the Financial<br />
Services and Markets Act 2000. This means the Company holds authorisation directly with<br />
the F<strong>CA</strong> as opposed to being an appointed representative of another directly authorised firm.<br />
6.4. The relevant activities that the Company has been authorised to undertake by F<strong>CA</strong> include:<br />
6.4.1. Advising on investments.<br />
6.4.2. Advising on pension transfers and opt-outs.<br />
6.4.3. Bringing about deals in investments.<br />
6.4.4. Making arrangements with a view to transactions in investments.<br />
6.4.5. Assisting in the administration and performance of a contract of insurance<br />
6.5. Details of the Company’s F<strong>CA</strong> authorisation can be found on https://register.fca.org.uk/<br />
under the Firm Reference Number 402291.<br />
6.6. The Company provides ‘independent advice’. This means that, when advising customers, it<br />
must ‘assess a sufficient range of relevant products available on the market which must be<br />
sufficiently diverse with regard to their type; and issuers or product providers to ensure that<br />
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the client’s investment objectives can be suitably met; and not be limited to relevant products<br />
issued or provided by the firm itself or by entities having close links with the firm; or other<br />
entities with which the firm has such close legal or economic relationships, including<br />
contractual relationships, as to present a risk of impairing the independent basis of the advice<br />
provided.’<br />
7. Commencement and termination of this agreement<br />
7.1. This agreement is effective once signed by the Client(s) and a Director of the Company.<br />
7.2. The agreement terminates on provision of the services the Company has agreed to provide to<br />
the Client(s).<br />
8. Instructing<br />
8.1. At the Company’s discretion, it may accept verbal instructions from the Client(s). However,<br />
the Company reserves the right to insist such instructions be provided in writing (which shall<br />
include facsimile and internet transmission) in order to avoid possible disputes.<br />
9. Communicating<br />
9.1. The Client(s) agree to receiving communications from the Company via the following:<br />
Client to initial the relevant boxes<br />
I agree<br />
I do not<br />
agree<br />
The Company may send postal communications to the following<br />
address:<br />
I agree<br />
I do not<br />
agree<br />
The Company may send electronic communications to the following<br />
email addresses:<br />
I agree<br />
I do not<br />
agree<br />
The Company may make direct contact on the following telephone<br />
numbers:<br />
9.2. The Client(s) prefer to receive formal communications from the Company via:<br />
Client to initial the relevant boxes<br />
I prefer<br />
I do not<br />
prefer<br />
Electronic communication via email<br />
Paper communication via post<br />
Page 4 of 10 Customer Agreement <strong>Hourly</strong> <strong>Paid</strong> Services 15/1/2022
10. Personal information<br />
10.1. The Company is registered with the Information Commissioner’s Office (ICO) to hold<br />
and process personal information. Details of the Company’s ICO registration can be found<br />
on https://ico.org.uk/ESDWebPages/Entry/Z8721312 under reference Z8721312.<br />
10.2. The Company will collect personal information from the Client(s) and relevant third<br />
parties for the purposes of providing the services set out in this agreement.<br />
10.3. Where the Company needs to obtain personal information from a third party, the<br />
Company will obtain the Client(s) express consent before doing so.<br />
10.4. The Company will not use the information for the purpose of unsolicited marketing<br />
unless the Client(s) has expressly consented to this.<br />
10.5. The Company will not release the information to any other source for the purposes of<br />
unsolicited marketing.<br />
10.6. The Company will share personal information with other financial product providers<br />
only where necessary for the purposes of providing the services set out in this agreement.<br />
10.7. The Company will make reasonable endeavours to keep up to date any personal<br />
information it holds regarding the Client(s) during the period this agreement is in force.<br />
10.8. The Company will continue to hold personal information after this agreement has<br />
terminated to comply with F<strong>CA</strong> regulations or as long as necessary to reasonably indemnify<br />
the Company against the risk of claims.<br />
11. Access to records<br />
11.1. The Client(s) may inspect copies of contract notes, vouchers and entries in our records<br />
relating to transactions undertaken on their behalf, provided that reasonable notice is given,<br />
and such access does not affect the confidentiality of other clients.<br />
11.2. On request by the Client(s), the Company will provide details of any personal data it<br />
holds on the Client(s) in accordance with the requirements of the Data Protection Act 2018.<br />
11.3. The Company will use reasonable endeavours to comply with requests from or on<br />
behalf of the Client for copies of documents and information not covered under data<br />
protection regulations.<br />
Please note - the Company reserves the right to levy a charge relative to the costs<br />
involved in preparing and forwarding such information<br />
12. Registration of financial products<br />
12.1. The Company will register any financial products arranged for the Client(s) in the<br />
name of the Client(s).<br />
12.2. The Company will forward to the Client(s) all title documents relating to financial<br />
products as soon as practicable after receipt. Where a number of documents relating to a<br />
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series of transactions is involved, the Company will normally hold each document until the<br />
series is complete and then forward them to the Client(s).<br />
13. Conflicts of interest<br />
13.1. Occasions can arise where the Company, or another client for whom it may be acting,<br />
may have some form of interest in the business being transacted for the Client(s). If this<br />
happens, or the Company become aware that its interest conflicts with those of the Client(s),<br />
it will obtain written consent from the Client(s) before carrying out that transaction.<br />
13.2. Where the Client(s) have been introduced to the Company by a third party with whom<br />
the Company has an agreement to cede part of any fees payable by the Client(s), the Company<br />
will disclose the name of the third party and the amount of any ceding that will be paid. In<br />
relation to the Client(s), the position is:<br />
Name of Introducer<br />
Percentage or amount<br />
of fees to be ceded<br />
14. Client money<br />
14.1. The Company is not authorised by the F<strong>CA</strong> to hold or control client money. This<br />
means that we cannot accept payments from the Client(s) where these are intended to be<br />
passed on to third parties, or payments from third parties to be passed to the Client(s).<br />
15. Agreed services<br />
15.1. The Company will use reasonable endeavours to provide the following services to the<br />
Client(s):<br />
15.1.1. Information collection:<br />
15.1.1.1. The Company will obtain the following information from the Client(s) and<br />
relevant third parties:<br />
15.1.1.1.1. The nature and value of relevant investments, insurances and other<br />
provisions established by or to which the Client(s) may have an entitlement.<br />
15.1.1.1.2. The Client(s) relevant personal circumstances including health and<br />
medical history.<br />
15.1.1.1.3. The Client(s) relevant financial affairs, including assets, liabilities,<br />
income, and expenditure.<br />
15.1.1.1.4. The Client(s) relevant ethical, philosophical views, religious beliefs,<br />
and political affiliations.<br />
15.1.1.1.5. The Client(s) relevant future goals and objectives.<br />
15.1.1.1.6. The Client(s) previous experience of relevant financial matters.<br />
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15.1.2. Research and assessment:<br />
15.1.2.1. The Company will research and assess the following:<br />
15.1.2.1.1. The Client(s) understanding of relevant financial matters.<br />
15.1.2.1.2. Where appropriate, the Client(s) psychological tolerance to investment<br />
risk.<br />
15.1.2.1.3. Where appropriate, the statistical mortality and morbidity of the<br />
Client(s).<br />
15.1.2.1.4. Where the Client(s) is saving to meet a specific future objective:<br />
15.1.2.1.4.1. The extent to which the Client(s) can afford to make adequate<br />
provision to fund that objective.<br />
15.1.2.1.4.2. The appropriate level of contribution that the Client(s) should<br />
commit in order to fund the specified objective.<br />
15.1.2.1.4.3. The point in time from which it may be possible for the<br />
Client(s) to consider meeting that objective.<br />
15.1.2.1.5. The amount of capital and/or income required, or likely to be required,<br />
by the Client(s) to meet that objective.<br />
15.1.2.1.6. Where appropriate, the arrangements to be made for the Client(s)<br />
chosen beneficiaries to receive the proceeds of financial products in the event<br />
of the Client(s) death.<br />
15.1.2.1.7. Where appropriate, the level of return to be targeted by the Client(s)<br />
investment to meet the required objective.<br />
15.1.2.1.8. Where appropriate, the arrangement of asset types to provide the<br />
potential necessary to meet the targeted level of return.<br />
15.1.2.1.9. Where appropriate, the types of financial product that the Client(s)<br />
should establish.<br />
15.1.2.1.10. Where appropriate, the options and features the Client should select on<br />
any recommended financial product.<br />
15.1.2.1.11. Where appropriate, the product provider(s) with whom financial<br />
product(s) should be arranged, taking account of:<br />
15.1.2.1.11.1. The options and features required by the Client(s)<br />
15.1.2.1.11.2. The cost of the product relative to that being charged by other<br />
providers offering similar products.<br />
15.1.2.1.11.3. Where appropriate, the investment performance of the product<br />
relative to that achieved by other providers offering similar products.<br />
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15.1.3. Advice<br />
15.1.2.1.11.4. The financial strength of the product provider.<br />
15.1.2.1.11.5. The servicing standards of the product provider.<br />
15.1.3.1. The Company will:<br />
15.1.3.1.1. Prepare and issue a written report to the Client(s) setting out:<br />
15.1.3.1.1.1. The Company’s professional recommendations.<br />
15.1.3.1.1.2. The rationale on which the Company’s recommendation is<br />
based.<br />
15.1.3.1.1.3. The initial and future costs arising from the Company’s<br />
recommendations.<br />
15.1.3.1.1.4. The risks to which the Client(s) may be exposed through<br />
following, or not following the Company’s recommendations.<br />
15.1.3.1.2. Following receipt and consideration by the Client(s) of the report, the<br />
Company will:<br />
15.1.3.1.2.1. Meet with the Client(s) or make such other arrangements as are<br />
reasonable to allow the Client(s) to consider the Company’s professional<br />
recommendations and reach an informed and objective decision on how<br />
to proceed.<br />
15.1.3.1.2.2. Determine the Client(s) instructions regarding arranging any<br />
necessary transactions.<br />
Please note – the services provided under this agreement do not include<br />
ongoing oversight or review of the advice given. In the event that further<br />
advice is required it will be the responsibility of the Client(s) to notify the<br />
Company.<br />
15.1.4. Transactions<br />
15.1.4.1. Where the Client(s) wish to proceed with the Company’s recommendations, or<br />
any reasonable modification, the Company will arrange for relevant transactions to<br />
be carried out.<br />
Please note - the Company reserves the right to decline to arrange any transaction<br />
which it reasonably believes may expose the Client(s) to significant and unwarranted<br />
risk.<br />
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16. Charges<br />
16.1. The services provided will include<br />
16.1.1. ‘Information collection’,<br />
16.1.2. ‘Research’,<br />
16.1.3. ‘Advice’,<br />
16.1.4. ‘Transactions’.<br />
16.2. These services will be charged at the following tariff:<br />
<strong>Hourly</strong> rate<br />
£100.00<br />
17. Payment of charges<br />
17.1. Where available, the Company will provide the Client(s) with the option to pay<br />
charges by either:<br />
17.1.1. Collection via the product provider:<br />
17.1.1.1. Charges will be deducted from the Client(s) investments by the product<br />
provider and passed on to the Company.<br />
17.1.1.2. Payment will be made by the product provider after completion of any related<br />
transactions. If there are no related transactions arising from the Company’s advice,<br />
or if the amount of payment from the product provider is insufficient to cover the<br />
agreed cost of services, the Company will then invoice the Client(s) directly.<br />
17.1.2. Direct payment:<br />
17.1.2.1. Charges will be invoiced for payment by the Client(s) within thirty days.<br />
17.1.2.2. The invoice will be issued following the provision of advice or, where related<br />
transactions are to be arranged by the Company, following completion of those<br />
transactions.<br />
18. Special Agreements<br />
Please note - where charges are paid directly, this will reduce the ongoing cost<br />
of related financial products.<br />
Special arrangements and modifications to our usual terms<br />
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19. Estimate of actual personal costs<br />
The chargeable time will not exceed [<br />
] hours.<br />
This will be charged at a rate of [£100.00] per hour, resulting in an overall<br />
cost of:<br />
£[ ]<br />
20. Agreement to proceed<br />
20.1. The terms of this agreement will be binding once signed by the Client(s) and on behalf of<br />
the Company by one of its directors:<br />
Name of Client:<br />
Date<br />
Signature:<br />
On behalf of Leabold Financial Management Limited:<br />
Director<br />
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