Hourly Paid Service

Valleys Innovation Centre Tel: 01443 749 991 / 0845 872 6418
Navigation Park Fax: 01443 741 893 / 0845 872 6419
Abercynon
info@leabold.co.uk
CF45 4SN
www.leabold.co.uk
Customer Agreement for
‘Hourly Paid Services’
This agreement is suitable for customers requiring one-off advice on either pension,
investment, estate, or protection matters.

1. Parties to this agreement
1.1. This agreement is made between Leabold Financial Management Ltd (referred to variously
in this agreement as ‘the Company’, ‘we’, ‘us’, ‘our’) and the following (referred to in this
document as ‘the Client(s)’, ‘you’, ‘your’):
2. Primary Contact
2.1. The Company will deal with the following individual as the Primary Contact and classify its
dealings with the Clients(s) in accordance with that individual’s understanding and previous
experience of relevant financial matters:
3. Designated Adviser
3.1. The Company has designated the following individual to act in this capacity:
3.2. FCA regulations require the Adviser to hold an approved qualification and statement of
professional standing.
3.2.1. The relevant qualifications held by the Adviser are:
Qualification Awarding Body Date Awarded
3.2.2. The most recent statement of professional standing for the adviser was issued by:
You may review the adviser’s qualifications and most recent statement of
professional standing on our website at https://www.leabold.co.uk/meet-the-team
4. The Company’s status
4.1. The Company is registered in England and Wales under Companies House number
05173817.
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4.2. The Company is a wholly owned subsidiary of Leabold Financial Management Holdings
Limited, which is registered in England and Wales under Companies House number
08296996.
4.3. The Company is directly authorised by the United Kingdom financial services regulator,
the Financial Conduct Authority (FCA), to undertake activities regulated under the Financial
Services and Markets Act 2000. This means the Company holds authorisation directly with
the FCA as opposed to being an appointed representative of another directly authorised firm.
4.4. The relevant activities that the Company has been authorised to undertake by FCA include:
4.4.1. Advising on investments.
4.4.2. Advising on pension transfers and opt-outs.
4.4.3. Bringing about deals in investments.
4.4.4. Making arrangements with a view to transactions in investments.
4.4.5. Assisting in the administration and performance of a contract of insurance
4.5. Details of the Company’s FCA authorisation can be found on https://register.fca.org.uk/
under the Firm Reference Number 402291.
4.6. The Company provides ‘independent advice’. This means that, when advising customers, it
must ‘assess a sufficient range of relevant products available on the market which must be
sufficiently diverse with regard to their type; and issuers or product providers to ensure that
the client’s investment objectives can be suitably met; and not be limited to relevant products
issued or provided by the firm itself or by entities having close links with the firm; or other
entities with which the firm has such close legal or economic relationships, including
contractual relationships, as to present a risk of impairing the independent basis of the advice
provided.’
5. Commencement of this agreement
5.1. This agreement is effective once signed by the Client(s) and a Director of the Company.
5.2. The agreement terminates on provision of the services the Company has agreed to provide to
the Client(s).
6. Client money
6.1. The Company is not authorised by the FCA to hold or control client money. This means
that we cannot accept payments from the Client(s) where these are intended to be passed on
to third parties, or payments from third parties to be passed to the Client(s).
7. Client categorisation
7.1. The Company is required under FCA Handbook rule COBS 3.3.1A to categorise the Client(s)
according to the level of regulatory protection they will be entitled. The Company will
therefore categorise the Client(s) depending on the provision of the following services:
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7.1.1. In the case of ‘investment mediation’, this will be a ‘retail customer’. This
means ‘a client who is not a professional client or an eligible counterparty’.
7.1.2. In the case of ‘insurance mediation, this will be a ‘consumer’. This means ‘any
natural person who is acting for purposes which are outside his trade or profession’.
7.2. As either a ‘retail customer’, or ‘consumer’, the Client(s) may have recourse to the
Financial Ombudsman Service in the event of a dispute with the Company reaching deadlock.
The Client(s) may also be eligible for protection from the Financial Services Compensation
Scheme should the Company be unable to cover losses arising from its own negligent acts.
A customer defined as either ‘professional’, or ‘commercial’, would not receive these
protections.
7.3. If the Client(s) believes they should not be classified as a ‘retail customer’, or ‘consumer’,
they will inform the Company immediately.
8. Conflicts of interest
8.1. Occasions can arise where the Company, or another client for whom it may be acting, may
have some form of interest in the business being transacted for the Client(s). If this happens,
or the Company become aware that its interests’ conflicts with those of the Client(s), it will
obtain written consent from the Client(s) before carrying out that transaction.
Conflict Disclosure
8.2. Where the Client(s) has been introduced to the Company by a third party with whom the
Company has an agreement to cede part of any fees payable by the Client(s), the Company
will disclose the name of the third party and the amount of any ceding that will be paid. In
relation to the Client(s):
Name of Introducer
Percentage or amount
of fees to be ceded
9. Communicating
9.1. In communicating with the Client(s), the Company will:
9.1.1. Provide and exchange documents using either the Company’s secure internet portal,
email, or post.
9.1.2. Take instructions either in written form, recorded phone call, or recorded video call.
9.1.3. Meet with the Client(s) via video call. At the Company’s discretion, it may agree to
meet in person.
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10. Personal information
10.1. The Company is registered with the Information Commissioner’s Office (ICO) to hold
and process personal information. Details of the Company’s ICO registration can be found
on https://ico.org.uk/ESDWebPages/Entry/Z8721312 under reference Z8721312.
10.2. The Company will collect personal information from the Client(s) and relevant third
parties for the purposes of providing the services set out in this agreement.
10.3. Where the Company needs to obtain personal information from a third party, the
Company will obtain the Client(s) express consent before doing so.
10.4. The Company will not use the information for the purpose of unsolicited marketing
unless the Client(s) has expressly consented to this.
10.5. The Company will not release the information to any other source for the purposes of
unsolicited marketing.
10.6. The Company will share personal information with third parties only when required
by law or where necessary for the purposes of providing the services set out in this agreement.
10.7. The Company will make reasonable endeavours to keep up to date any personal
information it holds regarding the Client(s) during the period this agreement is in force.
10.8. The Company will continue to hold personal information after this agreement has
terminated to enable it to comply with FCA regulations, or as long as reasonably necessary
to indemnify the Company against the risk of claims.
11. Access to records
11.1. The Client(s) may inspect copies of contract notes, vouchers and entries in our records
relating to transactions undertaken on their behalf, provided that reasonable notice is given,
and such access does not affect the confidentiality of other clients.
11.2. On request by the Client(s), the Company will provide details of any personal data it
holds on the Client(s) in accordance with the requirements of the Data Protection Act 2018.
11.3. The Company will use reasonable endeavours to comply with requests from or on
behalf of the Client for copies of documents and information not covered under data
protection regulations but reserves the right to levy a charge relative to the costs involved in
preparing and forwarding such information.
12. Services
12.1. The Company will use reasonable endeavours to provide the following services to the
Client(s):
12.1.1. Information collection:
12.1.1.1. The Company will obtain the following information from the Client(s) and
relevant third parties:
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12.1.1.1.1. The nature and value of relevant investments, insurances and other
provisions established by or to which the Client(s) may have an entitlement.
12.1.1.1.2. The Client(s) relevant personal circumstances, including health and
medical history.
12.1.1.1.3. The Client(s) relevant financial affairs, including assets, liabilities,
income, and expenditure.
12.1.1.1.4. The Client(s) relevant ethical, philosophical political views, and
religious beliefs.
12.1.1.1.5. The Client(s) relevant future goals and objectives.
12.1.1.1.6. The Client(s) previous experience of relevant financial matters.
12.1.2. Research and assessment:
12.1.2.1. The Company will research and assess the following:
12.1.2.1.1. The Client(s) understanding of relevant financial matters.
12.1.2.1.2. Where appropriate, the Client(s) psychological tolerance to investment
risk.
12.1.2.1.3. Where appropriate, the statistical mortality and morbidity of the
Client(s).
12.1.2.1.4. An estimate of the capital cost of meeting the Client(s) objectives.
12.1.2.1.5. Where appropriate, an estimate of the time-period needed to accrue the
capital cost of meeting the Client(s) objectives.
12.1.2.1.6. An estimate of the initial and ongoing funding needed to accrue the
capital cost of meeting the Client(s) objectives.
12.1.2.1.7. Where appropriate, the annual return on invested capital that should be
targeted to meet the Client(s) objectives, and consequent exposure to risk of
capital loss.
12.1.2.1.8. Where appropriate, the arrangements to be made for beneficiaries to
receive any remaining invested capital following the Client(s) death.
12.1.2.1.9. The method by which invested capital should be decumulated on
meeting the Client(s) objectives.
12.1.2.1.10. Where appropriate, the diversification of investments needed to create
the potential for the target annual return.
12.1.2.1.11. The class of financial product in which the Client(s) should hold
invested capital.
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12.1.3. Advice
12.1.2.1.12. The options and features the Client should select within the
recommended class of financial product.
12.1.2.1.13. The provider with whom the financial product should be arranged,
taking account of:
12.1.2.1.13.1. The product options and features offered by the provider.
12.1.2.1.13.2. The charges of the provider relative to those of commonly
available and suitable alternatives.
12.1.2.1.13.3. Where appropriate, the investment performance of the provider
relative to that of commonly available and suitable alternatives.
12.1.2.1.13.4. The financial strength of the provider.
12.1.2.1.13.5. The service standards and performance of the provider.
12.1.3.1. The Company will:
12.1.3.1.1. Prepare and issue a written report to the Client(s) setting out:
12.1.4. Transactions
12.1.3.1.1.1. The Company’s professional recommendations.
12.1.3.1.1.2. The rationale on which the Company’s recommendation is
based.
12.1.3.1.1.3. The initial cost and future costs arising from the Company’s
recommendations.
12.1.3.1.1.4. The risks to which the Client(s) may be exposed through
following, or not following the Company’s recommendations.
12.1.4.1. Where the Client(s) wish to proceed with the Company’s recommendations, or
any reasonable modification, the Company will arrange for relevant transactions to
be carried out.
12.1.4.2. The Company reserves the right to decline to arrange any transaction which it
reasonably believes may expose the Client(s) to significant and unwarranted risk.
12.1.5. Forwarding and monitoring
12.1.5.1. The Company will establish any financial products that it arranges for the
Client(s) so that the provider will communicate directly with the Client(s). The
Company may, at its discretion, choose to pass on communications where these are
received directly from the provider, but is not bound to do so.
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13. Charges
12.1.5.2. The Company may, at its discretion, choose to notify the Client(s) in
circumstances where it becomes aware that a change in legislation or taxation
affects the aims, objectives, attitude to risk, or personal circumstances of the
Client(s), but is not bound to do so.
12.1.6. Periodic review and other ongoing services
12.1.6.1. The Company will not undertake a periodic review of advice given under the
agreement or provider any other ongoing service to the Client(s) unless approached
by the Client(s) to do so. Any periodic review of advice or other ongoing service
that the Company agrees to carry out will be subject to the Client(s) agreement to
new terms and conditions and will be charged separately to this agreement.
13.1. Services provided under this agreement will be charged at the following tariff:
Hourly rate £100
Minimum charge £300
14. Payment of charges
14.1. Where available, the Company will provide the Client(s) with the option to pay
charges by either:
14.1.1. Collection via the product provider:
14.1.1.1. Charges will be deducted from the Client(s) investments by the product
provider and passed on to the Company.
14.1.1.2. Payment will be made by the product provider after completion of any related
transactions. If there are no related transactions arising from the Company’s advice,
or if the amount of payment from the product provider is insufficient to cover the
agreed cost of services, the Company will then invoice the Client(s) directly.
14.1.2. Direct payment:
14.1.2.1. Charges will be invoiced for payment by the Client(s) within thirty days.
14.1.2.2. The invoice will be issued following the provision of advice or, where related
transactions are to be arranged by the Company, following completion of those
transactions.
NB: Where charges are paid directly by the Client(s), this may reduce the
ongoing cost of related financial products.
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15. Special Agreements
15.1. The Company has agreed to the following modification to the terms of this
agreement:
16. Estimate of costs
The Company initially estimates that the provision of services indicated in this agreement should
not exceed:
Chargeable time [ ] hours
Total charge £
17. Agreement to proceed
17.1. The terms of this agreement will be binding once signed by the Client(s) and on behalf
of the Company by one of its directors:
Name of Client(s):
Signature(s):
Date:
On behalf of Leabold Financial Management Limited:
Date
Name of Director:
Signature:
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