Introduction
This document provides details about our services, the cost of those services and the way in which we will deliver our services to you. If you do not understand any point or have any questions, please contact us before proceeding.
Secure Asset Funds Europe Ltd
16–18 Love Lane, Pinner, Middlesex, HA5 3EF
Email: info@safeltd.co.uk · Telephone: 0208 429 5000
Regulation
Secure Asset Funds Europe Ltd is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 518402.
The FCA contact details are: 25 The North Colonnade, Canary Wharf, London, E14 5HS, United Kingdom.
Our Services
We offer independent financial advice on, and can arrange, savings, investment products, portfolios, pensions, mortgages and insurance protection policies. We operate independently and offer our advice based on a comprehensive and fair analysis of the market.
We will advise and make a recommendation for you after we have assessed the background to your personal and financial circumstances, including your needs and objectives. You should be aware that investments carry varying degrees of risk and as their underlying value can fall, as well as rise, you may not get back the full amount invested.
In some situations, we shall only be providing you with information rather than advice — and this will be made clear to you on those occasions. We do not offer advice over the telephone.
We provide protection products from a range of insurers for critical illness cover, life assurance, permanent health insurance, private medical insurance and death in service cover.
Client Categorisation
It is our intention to categorise you as a retail client from outset and provide our services on this basis, as this categorisation offers the highest level of regulatory protection to you.
Should you wish, and following our discussion and agreement, you may request to be reclassified as an elective professional client. This means that you will lose certain protections under the Financial Services and Markets Act 2000 enforced by the Financial Conduct Authority.
Communications
We will normally communicate with you in English. We only accept instructions in writing (paper or electronic means) to aid clarification and avoid future misunderstandings. We will not act on oral instructions.
Our Remuneration
Whether you buy a product from us or not, you will pay us an adviser charge for our advice and services. 50% of any fee agreed is payable upon initial instruction and the remainder is payable upon presentation of our invoice. We allow 7 days for settlement of our invoice.
For late payment of our fees (after 7 days) interest will accrue at a rate of 4% above HSBC standard variable mortgage rate.
| Service | Initial Charge | Ongoing Charge p.a. |
|---|---|---|
| Initial Report | £1,850 minimum (£375/hr, est. 6–8 hours) | N/A |
| Implementation (lump sum) | 3% up to £500k · 2% next £500k · 1% over £1m | 1% |
| Review of Existing Holdings | £375 per hour | — |
| Transfer of Agency | Minimum £250 per plan | 1% |
| Implementation (regular premium up to £250/mo) | £1,500 | 1% |
| Implementation (regular premium over £250/mo) | £2,500 | 1% |
| Annual Portfolio Valuations & Meetings | — | 1% of investment value |
| Withdrawal / Encashment | £250 per encashment | — |
| Administration Fee | — | £100 per month |
| Switch Fee | 3% of total funds switched | — |
| Structured Product | 3% of amount invested | 1% |
Fee Examples
The following examples illustrate how our fees are applied in practice.
- Setting up a New ISA: Minimum £2,250 — 4 hours Adviser Time (4 × £375 = £1,500) plus 6 hours Administration (6 × £125 = £750).
- Protection Policy: Minimum £4,000 — 6 hours Adviser Time (6 × £375 = £2,250) plus 14 hours Administration (14 × £125 = £1,750).
- £100,000 Investment: Initial charge of £3,000 (3%). If the ongoing service fee is 1%, we would receive £1,000 each year — rising proportionally if the investment value increases.
Ongoing Service Proposition
Our ongoing management service includes:
- Annual statement of holdings as requested
- Access to our support team and ongoing access to your adviser
- Review of objectives, risk profile, asset allocation and tax changes at our meetings (up to 2 per year at our offices)
- Updates and valuations when requested (up to 2 per year)
- Comprehensive financial health check when requested
- Updating of client records and general correspondence
Cost: 1% per annum of total investment value, plus £100 per month. Minimum annual cost: £1,200.
Our charges are guaranteed not to increase without giving you prior notice. Should we need to increase our charges, you will be given one month's notice and the opportunity to decide whether to continue.
Commission
We no longer receive commission for most investment business. We may however receive commission for non-investment insurance products such as term assurance, critical illness, private medical insurance and income protection. We will discuss this with you in these circumstances.
Money Laundering
The Money Laundering Regulations 2007 require us to carry out "due diligence" and "on-going monitoring". We will need to ask you for evidence to satisfy these requirements. We charge £50 per client for carrying out the required due diligence and client verification.
Client Money
We do not handle clients' money and we never own the investments that you buy through us. We never accept a cheque made out to us unless it is in settlement of our own charges, fees, or costs. We do not handle cash.
Complaints
If you wish to register a complaint, please write to us at the address given above or telephone us on 0208 429 5000. A summary of our procedures for handling complaints is available on request.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.
Financial Services Compensation Scheme
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations.
- Most types of investment business are covered up to a maximum of £85,000.
- Advising and arranging of insurance is covered for 90% of the whole claim with no upper limit.
- Mortgage advising and arranging is covered up to a maximum of £85,000.
- For compulsory classes of insurance, coverage is 100% of the claim with no upper limit.
Amendments & Termination
Unless we obtain your consent, we will give you at least fourteen days' notice of any intention to amend this Client Agreement before conducting investment business with or for you.
This Client Agreement may be terminated at any time without penalty by either party, giving one month's notice in writing to the other, but without prejudice to the completion of transactions already initiated. A due proportion of any charges for services provided shall be settled to that date.
GDPR — Customer Privacy Notice
During the course of dealing with us, we will ask you to provide detailed personal information relating to your existing circumstances, your financial situation and, in some cases, your health and family health history. Your Personal Data means any information that describes or relates to your personal circumstances.
In the context of providing you with assistance in relation to your Investment, Pension and/or Protection Policy, your Personal Data may include:
- Title, names, date of birth, gender, nationality, civil/marital status, contact details and identity documents
- Employment and remuneration information, including salary, bonus schemes, overtime, sick pay and other benefits
- Bank account details, tax information, loans and credit commitments, personal credit history and sources of income and expenditure
- Health status and history, details of treatment and prognosis, medical reports
- Any pre-existing investment, pension and/or protection policy products and their terms and conditions
Your Personal Data will be retained by us either electronically or in paper format for a minimum of six years, or in instances whereby we have a legal right to such information, we will retain records indefinitely.
To exercise your rights in relation to your Personal Data, or with any questions about how we handle your data, please contact: Kay Javeri — Director
Telephone: 0208 429 5000 · Email: kayj@safeltd.co.uk
If you have any concerns or complaints as to how we have handled your Personal Data you may lodge a complaint with the ICO at ico.org.uk or by writing to: Information Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.
Order Execution Policy
FCA rules require us to take all reasonable steps to obtain the best possible result for clients when executing orders. In order of priority we consider price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of an order.
Orders will be placed with fund managers, insurers, WRAP providers and other product providers including firms regulated by the Financial Conduct Authority, as well as outside of a regulated market in the case of specialist unregulated investments.
Declaration
This is our standard client agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully. If you do not understand any point please ask for further information before signing.
In addition, by signing, you hereby grant Secure Asset Fund Europe Limited full authority to process your personal data for the purpose stated in the Privacy statement above.
To obtain a signed copy of this agreement or to ask any questions, please contact us at info@safeltd.co.uk or call 0208 429 5000.