Alpha Financial Management Limited is authorised and regulated by the Financial Conduct Authority, Financial Conduct Authority Number 214376. You can check this on the Financial Conduct Authority Register by visiting www.fsa.gov.uk/register or by contacting the Financial Conduct Authority on 0845 606 1234.
Our Commitment to You
Prior to providing you with any advice we will take time to understand your current needs, circumstances and attitude to risk. Any advice provided will be confirmed to you in writing.
Alpha Financial Management Limited classifies all clients as ‘retail clients’ for investment business and ‘consumers’ for non-investment insurance business which means you are afforded all protections under the rules of the Financial Conduct Authority. Should you wish to be classified differently for investment business, please discuss this with your adviser. Your adviser will inform you should your circumstances dictate that we would need to classify you differently for non-investment insurance business.
Please note that should you wish to be considered as a different category of customer for investment business, such as a professional client or eligible counter party you must inform us in writing. We will provide you with a new client agreement and you may lose a number of protections which will be outlined in that new agreement.
Methods of Communication
Unless you advise us otherwise, we will communicate with you via the following methods of communication, Face to Face, E-mail, Telephone, Letter and Fax.
Investment and Non-Investment Insurance Services
Alpha Financial Management Limited is permitted to advise on and arrange (bring about) deals in investments and non-investment insurance contracts.
Transactional Only Services
With regard to investments and non-investment insurance contracts which we have arranged for you, these will not be kept under review but we will advise you upon your request.
With service provision: Investment Services
We will provide services to you as more fully outlined in our Client Proposition. However, we may contact you in the future by means of an unsolicited promotion 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. Alpha Financial Management Limited does not handle clients’ money. We never accept a cheque made out to us (unless it is a cheque in settlement of charges or disbursements for which we have sent you an invoice) or handle cash.
Scope of Advice
We will advise and make a recommendation for you after we have assessed your needs. Our recommendation will be based on a comprehensive and fair analysis of the market.
Conflicts of Interest
Alpha Financial Management Limited offers advice in accordance with that disclosed to you in this agreement. Occasions may arise where we or one of our other clients have some form of interest in business being transacted 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 write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.
It is our policy to transact your business in order to achieve the best possible results in terms of the nature and price of the products selected, transaction charges, administration and service excellence. Further details of our policy regarding this are attached to the back of this document.
For details of our Data Protection statement and policy, please see our separate Data Protection Statement and consent form, which will be provided separately to you.
Payment for Services
To ensure that you are always fully aware of what our advice costs and how and when you are going to be asked to pay for this, we will always confirm this verbally and by asking for your agreement by signing our fee agreement, the exact amount and payment method.
Generally we will ask you to pay for our services at the end of the advice process. Please note that if you have paid for our advice by way of a cheque, and you subsequently cancel the policy within the statutory cooling off period, we will not refund the fee received.
Lump Sum Business
It is our company policy to be remunerated for our investment advice by way of a separate cheque, payable to our firm. It is possible for you to agree to pay for our advice by way of a deduction of our fee from the investment amount sent to a fund manager or provider prior to its investment. Typically we would charge a 3% initial fee for Lump Sum Business. For example; if you provide a lump sum of £100,000 for investment, and our fee is £3,000, that amount will be deducted before the remaining £97,000 is invested. The £3,000 is paid to us by the provider as our fee. To facilitate this the provider will need explicit evidence that you have agreed to this method of payment and we shall ask you to confirm this in our fee agreement for onward transmission to the provider. With your prior permission, we reserve the right to charge up to a maximum of 1% per annum of your investment or fund value to meet the costs of ongoing policy servicing. VAT is not applicable. You will be liable to pay for any transactions made prior to termination and any fees which may be outstanding. This means that where we have agreed the advice and services that we will provide for you and we have agreed to receive payment for these, either by means of a fee for investment business or by receiving commission from a provider for non-investment business you will have to pay us for any work we have completed up to the date of termination.
Payment can be made by a fee, commission or combination of both. You will receive a Client Specific Illustration which will detail any other fees relating to your particular insurance policy.
Regular Premium Business
It is our company policy to arrange for the payment for our advice to be deducted from the total amount collected by the product provider. Our fee will be forwarded to us and your contribution will be credited to the provider. The full details will be shown to you on the client specific illustration. In some circumstances, we may ask for a separate cheque, payable to our firm. The full details of which will be shown to you on the client specific illustration. In respect of any regular premium policy which we may recommend should you subsequently cease to pay premiums on the policy and in consequence we are obliged to refund the commission that has been paid to us we reserve the right to recover from you an amount equal to the amount we have had to refund to the provider. The amount recoverable and the timeframe over which it is recoverable are dependent on the product chosen. Further details of the amount and timeframe will be notified to you prior to the conclusion of the contract in the suitability letter we will send you. We will not seek to recover any commission if you exercise the right to cancel the policy in accordance with the cancellation notice sent to you by the life company.
Business that is transferred
If we advise you to transfer from one product to another, we may agree with you to pay by way of separate cheque or by deduction from the transferring fund to pay for our advice prior to its investment.
Paying by fee – Other Financial Services
Chargeable Hourly Rates
We will confirm the rate we will charge in writing before beginning work. Our typical charges are:
• Director – £200 per hour
• Administration – £75 per hour
An additional fee may be payable for ongoing reviews and advice.
Termination of Services
You or we may terminate our authority to act on your behalf at any time. 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 Client Agreement unless otherwise agreed in writing.
Termination of Services (Transactional advice)
You will be liable to pay for any advice or services that you have received prior to the date of termination. This means that where we have agreed the advice and services that we will provide for you and we have agreed to receive payment for these, either by means of a fee for investment business or by receiving commission from a provider for non-investment business, you will have to pay us for any work we have completed up to the date of termination.
Termination of Services (Active advice)
You have the right to cancel payment for our ongoing services with immediate notice in writing and this will take effect from the date of receipt.
If you wish to register a complaint, please contact us in writing at the above address or telephone us on 0151 949 1666. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
Most types of investment business are covered for 100% of the first £50,000, so the maximum compensation is £50,000.
Insurance advising and arranging is covered for 90% of the claim with no upper limit. Further information about compensation scheme arrangements is available from the FSCS
Accounting to You
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.