Common use of Pure Protection Products Clause in Contracts

Pure Protection Products. 12 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, this fee will be determined by us and will be non-refundable, unless you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £20 per month towards a Critical Illness policy we would receive commission of 3% of the sum assured. 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, you will be invoiced for the claw back amount if the policy is cancelled during the initial tie- in period (i.e. 24 month or 48 month period depending on the policy). We will not charge the fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. 13 In accordance with the regulatory requirements, before providing advice for mortgages and general insurance we will issue a Terms of Business Letter. The document will detail the options for our remuneration by fee, product charges or a combination of both. We may also receive commission or other form of benefit from working with the issuer of a security, a product provider or from another intermediary. We will inform you before the transaction if we are likely to receive such commission or form of benefit from recommending any product to you.

Pure Protection Products. 12 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, this fee will be determined by us and will be non-refundable, unless you exercise your right to cancel in accordance with the cancellation notice sent to you by the product providerinvestment advice paragraph above. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay A decreasing term policy for £20 per month towards 300,000 sum assured critical illness provided by Scottish Provident for a Critical Illness policy we would receive 37 year old employed non-smoker may cost a premium of £105.68 and may generate a commission of 3% of the sum assured. In respect of any regular premium policy which we may recommend, should you subsequently cease to pay premiums on the policy and £2,700 in consequence we are obliged to refund the commission that has been paid to us, you will be invoiced year one for the claw back amount if the policy is cancelled during the initial tie- in period (i.e. 24 month or 48 month period depending on the policy). We will not charge the fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. 13 In accordance with the regulatory requirements, before providing advice for mortgages and general insurance we will issue a Terms of Business Letter. The document will detail the options for our remuneration by fee, product charges or a combination of both. Xxxxxxxxx Wealth Management Ltd. We may also receive commission or other form of benefit from working with the issuer of a security, a product provider or from another intermediary. We will inform you before the transaction if we are likely to receive such commission or form of benefit from recommending any product to you. In respect of any regular premium policy which we may recommend, should you subsequently cease to pay premiums on the policy and as a result of your cancellation we are obliged to refund product charges or other commission that has been paid to us we reserve the right to charge you a fee representing the amount we have to repay, for a period of up to four years after commencement of the policy. We will not charge such fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. For insurance products, your insurance policy may lapse if you do not keep up to date with regular premium payments and you may not be covered if a claim is made. We like to work with clients on a long term basis. Following the completion of our initial advice, we will provide you with a level of ongoing service which will depend on the funds invested. • Transactional £0 to £50,000 – 1.00% per annum • Foundation £50,001 to £100,000 - 1.00% per annum • Enhanced £100,001 to £1m - 1.00% per annum • Bespoke over £1m - by negotiation These categories are defined below. Transactional Service These clients may not require, or due to the nature of the initial work or size of funds invested do not qualify for, our higher levels of ongoing service. Further to the completion of the initial work, no further ongoing analysis or recommendation work will be conducted by the original adviser without request but, instead, Transactional Clients will be provided with: • An annual valuation statement • Administration support by telephone and email in relation to administering existing policies • Telephone and email access to an advisor for enquiries • Transactional clients will not automatically receive regular review meetings, however the client may contact us with any new advice enquiries or to request a meeting with an adviser For investments that we administer for the Transactional Service, there is an ongoing charge of 1.00% per annum of the amount invested. Foundation service clients will receive an ongoing service as follows: • Annual statement of holdings • Access to our support team • 24 hour access to your portfolio via online portal (this may not be possible for existing legacy products) • Access to a Chartered Wealth Manager via phone or email. If your advisor is unavailable you will receive a call back within 24 hours. • 1 meeting per year: Annual review. During the review we will confirm products are still appropriate, enquire whether there have been any changes to your personal circumstances and where Xxxxxxxxx Wealth Management have implemented a portfolio and changes need to be made, we will do this at no extra charge on the anniversary. For investments that we administer for the Foundation Service, there is an ongoing charge of 1.00% per annum of the amount invested. Enhanced Service clients will receive an ongoing service as follows: • Annual statement of holdings • Access to our support team • 24 hour access to your portfolio via online portal (this may not be possible for existing legacy products) • Access to a Chartered Wealth Manager via phone or email. If your advisor is unavailable you will receive a call back within 24 hours. • Automatic quarterly rebalancing of CWM designed portfolios • 1 meeting per year: Annual review. During the review we will confirm products are still appropriate, enquire whether there have been any changes to your personal circumstances and where Xxxxxxxxx Wealth Management have implemented a portfolio and changes need to be made, we will do this at no extra charge on the anniversary. For investments that we administer for the Enhanced Service, there is an ongoing charge of 1.00% per annum of the amount invested. Bespoke service clients will receive ongoing service which will be discussed and agreed by negotiation. As a minimum they will receive: • Annual statement of holdings • Access to our support team • 24 hour access to your portfolio via online portal (this may not be possible for existing legacy products) • Access to a Chartered Wealth Manager via phone or email. If your advisor is unavailable you will receive a call back within 24 hours. • Automatic quarterly rebalancing of CWM designed portfolios • 2 review meetings per year: 6 monthly meeting. This will give you the chance to discuss any changes that may have occurred over recent months and to review your existing arrangements. • Annual review. During the review we will confirm products are still appropriate, enquire whether there have been any changes to your personal circumstances and where Xxxxxxxxx Wealth Management have implemented a portfolio and changes need to be made, we will do this at no extra charge on the anniversary. For investments that we administer for the Bespoke Service, there is a negotiable ongoing charge. Xxxxxxxxx Wealth Management Ltd is authorised and regulated by The Financial Conduct Authority (FCA) which regulates the financial services industry in the UK and their address is 00 Xxx Xxxxx Xxxxxxxxx, Xxxxxx Xxxxx, Xxxxxx, X00 0XX. Our Financial Services Register number is 670373. You can check this on the FCA’s Register by visiting the FCA’s website xxx.xxx.xxx.xx/xxxxxxxx or by contacting the FCA on 0845 606 1234. Xxxxxxxxx Wealth Management Ltd permitted business is advising on and arranging savings and investment products, pensions, pension transfers, pension opt outs and non-investment insurance contracts. We treat all our clients as “Retail Clients” unless you request otherwise. This means you are provided with the highest level of protection under the regulatory system and have the right to take any complaint to the Financial Ombudsman Service. We subscribe to 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. You will find up-to-date details of the FSCS’s compensation limits, eligibility and details of how to make a claim on its website xxx.xxxx.xxx.xx. As at (05/15), the limits are:- Most types of investment business are covered for 100% of the first £50,000. Insurance advising and arranging is covered for 90% of the claim with no upper limit. Further information about this compensation scheme arrangement is available from the FSCS. If you wish to register a complaint, please write to Xxxxxxx Xxxxxxx Director Xxxxxxxxx Wealth Management Limited 00 Xxxx Xxxx Road Xxxxxxx Xxxxxxx BS82HL A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you are entitled to refer it to the Financial Ombudsman Service. We are required by the anti-money laundering regulations to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose 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. The information you have provided is subject to the Data Protection Act 1998 (the “Act”). By signing this document you consent to us or any company associated with us for processing, both manually and by electronic means, your personal data for the purposes of providing advice, administration and management. “Processing” includes obtaining, recording or holding information or data, transferring it to other companies associated with us, product providers, the FCA or any other statutory, governmental or regulatory body for legitimate purposes including, where relevant, to solicitors and/or other debt collection agencies for debt collection purposes and carrying out operations on the information or data. In order to provide services to you, we may be required to pass your personal information to parties located outside of the European Economic Area (EEA) in countries that do not have Data Protection Laws equivalent to those in the UK. Where this is the case we will take reasonable steps to ensure the privacy of your information. We may also contact you or pass your details to other companies associated with us to contact you (including by telephone) with details of any other similar products, promotions, or for related marketing purposes in which we think you may be interested. The information provided may also contain sensitive personal data for the purposes of the Act, being information as to your physical or mental health or condition; the committing or alleged committing of any offence by you; any proceedings for an offence committed or alleged to have been committed by you, including the outcome or sentence in such proceedings; your political opinions; religious or similar beliefs; sexual life; or your membership of a Trade Union. If at any time you wish us or any company associated with us to cease processing your personal data or sensitive personal data, or contacting you for marketing purposes, please contact The Data Protection Officer on 0117 923 7652 or in writing at Xxxxxxxxx Wealth Management Limited, 00 Xxxx Xxxx Road, Bristol BS8 2HL. You may be assured that we and any company associated with us will treat all personal data and sensitive personal data as confidential and will not process it other than for a legitimate purpose. Steps will be taken to ensure that the information is accurate, kept up to date and not kept for longer than is necessary. Measures will also be taken to safeguard against unauthorised or unlawful processing and accidental loss or destruction or damage to the data. Subject to certain exceptions, you are entitled to have access to your personal and sensitive personal data held by us. You may be charged a fee (subject to the statutory maximum) for supplying you with such data. In most cases you can exercise a right to cancel by withdrawing from the contract. In general terms you will normally have a 30 day cancellation period for a life, pure protection, payment protection or pension policy and a 14 day cancellation period for all other policies. For pure protection policies the start of the cancellation period will normally begin when you are informed that the contract has been concluded or, if later, when you have received the contractual terms and conditions. In other cases, the cancellation period will begin on the day the contract is concluded or, if later, the day on which you receive the contractual terms and conditions. Instructions for exercising the right to cancel, if applicable, will be contained in the relevant product disclosure information which will be issued to you. If you cancel a single premium contract, you may be required to pay for any loss you might reasonably incur in cancelling it which is caused by market movements. This means that, in certain circumstances, you might not get back the full amount you invested if you cancel the policy. Under current legislation our services are not subject to VAT but should this change in future, and where VAT becomes due, we will notify you before conducting any further work. You hereby acknowledge that in the event of the firm assisting you in the completion of any investment or insurance application or policy proposal forms that you will in any event continue to bear full responsibility for the accuracy and completeness of the information provided to us and entered on such forms. Therefore you understand that inclusion of incorrect information or omission of any material facts may result in the insurance, investment or policy to which the application or proposal relates to being adversely adjusted, made void and/or any claim(s) made against it being refused. The advice we give you will be based on the information you have given us and your stated investment objectives including the degree of risk you will accept. It is your responsibility to advise us on any changes. Xxxxxxxxx Wealth Management Ltd is not permitted to handle client money and we cannot accept a cheque made out to us (unless it is in respect of an item for which we have sent you an invoice) or handle cash.

Pure Protection Products. 12 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, this fee will be determined by us and will be non-refundable, unless you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £20 13.04 per month towards a Life with Critical Illness policy we would may receive commission of 30.004% of the sum assuredassured £72,000, and a roughly £3.96 every month after 4 year of the cover being in force. 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, you will be invoiced for the claw back amount if the policy is cancelled during the initial tie- in period (i.e. 24 month or 48 month period depending on the policy). We will not charge the fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. 13 In accordance with the regulatory requirements, before for providing mortgage advice there is:  No fee. We will be paid commission from the lender.  A fee of 299 is payable upfront (which will be agreed prior to undertaking of any work, non-refundable, and covers all the initial research and preparation). We will also be paid a procuration fee from the lender.  A fee of £[xx] which is payable at the outset/application and £[xx]which is payable (on) when you apply/ completion for mortgages (of) a mortgage. We will refund any commission we receive from the lender. If we charge you a fee, and your mortgage does not go ahead, you will receive:  A full refund if the lender rejects your application  A partial refund if your application falls through  No refund if you decide not to proceed. None of these fees are refundable. For general insurance we do not charge a fee. We will issue a Terms of Business Letter. The document will detail be paid commission from the options for our remuneration by fee, product charges or a combination of bothprovider. We may also receive commission or other form of benefit from working with the issuer of a security, a product provider or from another intermediary. We will inform you before the transaction if we are likely to receive such commission or form of benefit from recommending any product to you. In respect of any regular premium policy which we may recommend, should you subsequently cease to pay premiums on the policy and as a result of your cancellation we are obliged to refund product charges or other commission that has been paid to us we reserve the right to charge you a fee representing the amount we have to repay, for a period of up to four years after commencement of the policy. We will not charge such fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. For your additional security we do not handle client’s 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). We do not handle cash. Cheques for payment will be required to be paid direct to the insurance provider. We will make arrangements for all your contracts to be registered in your name unless you first instruct us otherwise in writing. You have a right to inspect copies of contract notes and entries in our records in relation to transactions on your behalf. In that request we reserve the right to give you copies of such documents rather than access to the original records. We will forward to you all documents showing ownership of your policies 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. We subscribe to 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. You will find up-to-date details of the FSCS’s compensation limits, eligibility and details of how to make a claim on its website xxx.xxxx.xxx.xx .

Pure Protection Products. 12 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, this fee will be determined by us and will be non-refundable, unless work as agreed in our letter of engagement with you exercise your right to cancel in accordance with the cancellation notice sent to you by the product providerat that time. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £20 50 per month towards a Critical Illness policy we would may receive commission of 30.2% of the sum assured £455,000, which is roughly £1,006, and 0.003% of the sum assured, roughly £15 every year from month 48 to the end of the term. 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, you will be invoiced for the claw back amount if the policy is cancelled during the initial tie- in period (i.e. 24 month or 48 month period depending on the policy). We will not charge the fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. 13 In accordance with the regulatory requirements, before providing advice for mortgages and  For general insurance we will issue a Terms of Business Letter. The document will detail the options may charge an agreed fee for our remuneration by fee, product charges time or a combination of bothreceive commission from the insurance provider.  We may also receive commission or other form of benefit from working with the issuer of a security, a product provider or from another intermediary. We will inform you before the transaction if we are likely to receive such commission or form of benefit from recommending any product to you or effecting an introduction where the service and / or the advice is provided by the other provider.  In respect of any regular premium policy which we may recommend, should you subsequently cease to pay premiums on the policy and as a result of your cancellation we are obliged to refund product charges or other commission that has been paid to us we reserve the right to charge you a fee representing the amount we have to repay, for a period of up to four years after commencement of the policy. We will not charge such fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider.  For your additional security we do not handle client’s money. We never accept a cheque made out to us (unless it is a cheque in settlement of our fees or other charges or disbursements for which we have sent you an invoice). We do not handle cash. Cheques for payment will be required to be paid direct to the insurance provider.  We will make arrangements for all your investments/contracts to be registered in your name unless you first instruct us otherwise in writing. You have a right to inspect copies of contract notes and entries in our records in relation to transactions on your behalf. In that request we reserve the right to give you copies of such documents rather than access to the original records. We will forward to you all documents showing ownership of your policies 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.  We subscribe to 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. You will find up-to-date details of the FSCS’s compensation limits, eligibility and details of how to make a claim on its website xxx.xxxx.xxx.xx. As at February 2020, the limits are:- Most types of investment business are covered for 100% of the first £85,000 • Insurance Business: there is no upper limit on the amount of protection. (For claims against firms declared in default from 3 July 2015). • Long-term insurance benefits are protected 100%. Claims under compulsory insurance, professional insurance and certain claims for injury, sickness or infirmity of the policyholder are protected at 100% • Protects 90% of other types of claim with no upper limit. Further information about compensation scheme arrangements is available from the FSCS.  If you should have any complaint about the advice you receive or a product you have bought please write or call the Compliance Director at Sanlam Partnerships Limited, Xxxx 0 Xxxxxxxxxxxx Xxxxxxxx Xxxx, Xxxxxxxxxxxx, Xxxxxxxxxx, XX00 0XX. Telephone Number If following our subsequent investigation and response you are still not satisfied you may contact the Financial Ombudsman Service (xxx.xxxxxxxxx-xxxxxxxxx.xxx.xx); Xxxxxxxx Xxxxx, Xxxxxxx Xxxxxxxx, Xxxxxx, X00 0XX. Full details are contained within our internal complaints procedure, which is available to you on request at any time.

Pure Protection Products. 12 If you buy a protection product you may elect that we are remunerated by commission. The commission is paid directly by the provider. Although you pay nothing up front that does not mean our service is free. The commission paid to us forms part of a ‘product charge’ which you pay when you purchase the product. Product charges pay for the product provider’s own costs and any commission payable to third parties. You may elect that we arrange for the protection premium to be discounted by the commission that otherwise might have been payable under the policy recommended. In this instance you will need to pay a fee appropriate to cover our advice and work, this fee will be determined by us and will be non-refundable, unless work as agreed in our letter of engagement with you exercise your right to cancel in accordance with the cancellation notice sent to you by the product providerat that time. The amount of commission we receive will vary depending on the type of policy and (sometimes) the term of the policy or your age, as in the following example: If you were to pay £20 50 per month towards a Critical Illness policy we would may receive commission of 30.2% of the sum assured £455,000, which is roughly £1,006, and 0.003% of the sum assured, roughly £15 every year from month 48 to the end of the term. In respect of any regular premium policy which  For general insurance 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, you will be invoiced for the claw back amount if the policy is cancelled during the initial tie- in period (i.e. 24 month or 48 month period depending on the policy)do not charge a fee. We will not charge receive commission from the fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product insurance provider. 13 In accordance with the regulatory requirements, before providing advice for mortgages and general insurance we will issue a Terms of Business Letter. The document will detail the options for our remuneration by fee, product charges or a combination of both.  We may also receive commission or other form of benefit from working with the issuer of a security, a product provider or from another intermediary. We will inform you before the transaction if we are likely to receive such commission or form of benefit from recommending any product to you.  In respect of any regular premium policy which we may recommend, should you subsequently cease to pay premiums on the policy and as a result of your cancellation we are obliged to refund product charges or other commission that has been paid to us we reserve the right to charge you a fee representing the amount we have to repay, for a period of up to four years after commencement of the policy. We will not charge such fee if you exercise your right to cancel in accordance with the cancellation notice sent to you by the product provider. CLIENT MONEY  For your additional security we do not handle client’s money. We never accept a cheque made out to us (unless it is a cheque in settlement of our fees or other charges or disbursements for which we have sent you an invoice). We do not handle cash. Cheques for payment will be required to be paid direct to the insurance provider. ACCOUNTING TO YOU  We will make arrangements for all your investments/contracts to be registered in your name unless you first instruct us otherwise in writing. You have a right to inspect copies of contract notes and entries in our records in relation to transactions on your behalf. In that request we reserve the right to give you copies of such documents rather than access to the original records. We will forward to you all documents showing ownership of your policies 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. FINANCIAL SERVICES COMPENSATION SCHEME (FSCS)  We subscribe to 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. You will find up-to-date details of the FSCS’s compensation limits, eligibility and details of how to make a claim on its website xxx.xxxx.xxx.xx. As at February 2019, the limits are:- Most types of investment business are covered for 100% of the first £50,000.  Insurance Business: there is no upper limit on the amount of protection. (for claims against firms declared in default from 3 July 2015).  Long-term insurance benefits are protected 100%. Claims under compulsory insurance, professional insurance and certain claims for injury, sickness or infirmity of the policyholder are protected at 100%  Protects 90% of other types of claim with no upper limit. Further information about compensation scheme arrangements is available from the FSCS.