About the cost of our services
Vale Asset Management
		TJ Morgan Building Ty-Verlon Cardiff Road Barry, Vale of Glamorgan CF63 2BE Tel: 01446 700701

1. The Financial Services Authority (FSA)

The FSA is the independent regulator of financial services. It requires us to give you this document when advising on some savings and investments. You may use this information to compare value for money, to shop around and to decide which firm to use.

2. Our services

We offer an initial discussion (without charge) when we will describe our services more fully and explain the payment options. If you decide to go ahead, we will:

Gather and analyse personal information about you, your finances, your needs and objectives; Recommend and discuss any action we think you should take and, with your agreement, arrange relevant investments for you.

We offer bespoke solutions to meet your financial needs; we pride ourselves on our high quality of service and at your choice we are happy to be remunerated by either commission or fees. We are a member of a large marketing group which provides us with enhancements not just on the amount of commission we receive but also enhancements to the product terms we can offer out customers.

3. What are your payment options?

Not all firms charge for advice in the same way. We will discuss your payment options with you and answer any questions you have. We will not charge you anything until you have agreed how we are to be paid. We have ticked the payment options we offer.

4. How much might our services cost?

If you choose the fee option
We will agree the rate we will charge before beginning work. We will tell you if you have to pay VAT.
Our typical charges are:

E.G. for investments with a value of £65,000 our fee would be £325 per annum.
You may ask us for an estimate of how much in total we might charge. You may also ask us not to exceed a given amount without checking with you first.

If you choose the combination of commission and fee option
We will charge you a combination of fees and commission. The actual amounts will depend on the service provided to you, but will not exceed the total of the maximum fees set out above and the maximum commission set out in the tables below.

If you choose the commission option
Tables 1 and 2 show examples of the amounts of commission we could receive (or the equivalent we earn through product charges) and compare those amounts with the market average (see notes 1 & 2 at the end of this section 4).
The amounts vary according to: the type of product, the amount you invest, and (sometimes) how long you invest for, or your age when you start the product. We will confirm the actual amount to you before you buy a product.

Notes:

• The market average figures are calculated by the FSA using actual data from a representative sample of regulated firms and are shown in a way that you may compare with our own maximum rates. The market average figures will be updated by the FSA from time to time based on new data.
• Where a firm sells its own products it must calculate its figures according to FSA guidelines.

5. Further information

If you need any more help or information

• Ask your adviser; or

• Visit www.fsa.gov.uk/consumer.
  

TERMS OF BUSINESS
	TJ Morgan Building Ty-Verlon Cardiff Road Barry Vale of Glamorgan CF63 2BE T/F: 01446700701 E: enquiries@valeam.co.uk Principal: Neil Evans Dip PFS, AIFP Authorised and Regulated by the Financial Services Authority

Customer Classification

The firm proposes to classify you as a Private Customer.

Investment Objectives and Restrictions

Following the issue of this letter any subsequent advice or recommendation offered to you will be based on your stated investment objectives, acceptable level of risk and any restrictions you wish to place on the type of investments or policies you are willing to consider. Details of your stated investment objectives will be included in the Suitability Letter we will issue to you to confirm our recommendation. Unless confirmed in writing, to the contrary, we will assume that you do not wish to place any restrictions on the advice we give you.

Investment Services

Vale Asset Management is authorised and regulated by the Financial Services Authority (FSA) to advise on and arrange Life Assurance, Pensions, Collective Investments, Personal Equity Plans, Individual Saving Accounts and Financial Planning. We are bound by the rules of the FSA.

Vale Asset Management, is an independent adviser and will act on your behalf in advising you on products from the whole market.

With regard to investments we have arranged for you, these will not be kept under review unless we have been specifically asked to do so by you. 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.

Written Instructions

We will normally require you to give written instructions in order for us to carry out transactions on your behalf. However, in cases of emergency we will act upon spoken instruction subject to confirmation in writing.

Remuneration

We derive income from commission paid to us in respect of transactions in Life Assurance. PEP/ISA, Unit Trusts and other Regulated Collective Investment Schemes and in Investment Trust Companies’ shares held in a PEP/ISA or regular savings scheme. We shall tell you the amount and the frequency of commission payable to us on any such investment.

If we receive commission or other form of benefit from the issuer of a security or from another intermediary, we will inform you but we will not tell you its amount unless you ask us to do so. We reserve the right to share any commission or fees received by us with other introducing agents.

Alternatively, if you or we propose to operate on a fee basis, we will agree its basis, frequency and method with you in writing before we carry out any chargeable work. Should we receive commission from any third party in relation to transactions arranged for you, we will offset the amount received against any fees due.

If you cease to pay premiums on a policy or investment product and as a consequence we are obliged to refund commission that has been paid to us, we reserve the right to charge a fee equivalent to the commission reclaimed by the policy / investment provider, plus an administration fee of £50. The maximum amount and the duration of this potential charge is as stated in the client specific quotation / illustration. We will not however make this charge should you exercise your right to cancel a policy / investment, in accordance with the cancellation notice sent to you by the provider.

If payment is not received in full within 30 days of invoice, we will charge interest on the balance outstanding at 4% per annum above the prevailing Bank of England base rate, which will be added to the outstanding balance on a compound basis on the first day of each calendar month that any amount remains unpaid.

In the event that any amount owing remains outstanding for 180 days after issue of an invoice, Vale Asset Management has the right to instigate legal proceedings to recover the amount owing, and will be entitled to recover from you all additional charges to recover any fees incurred.

Accounting to Customers

Unless in exceptional circumstances, we will confirm to you in writing the basis or our reason for recommending the transaction executed on your behalf.

We will also make arrangements for all your investments to be registered in your name unless you first instruct us otherwise in writing. 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.

Conflicts of Interest

We offer independent advice but occasions can arise where we, or one of our customers, will have some form of interest in business that we are transacting for you. If this happens, or we become aware that our interests or those of one of our other customers conflict with your interests, we will inform you in writing and obtain your consent before we carry out your instructions.

Client Money

The firm 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.

Making a Complaint

If you should have any complaint about the advice you receive or a product that you have bought please write to the Compliance Officer at Vale Asset Management, TJ Morgan Building, Ty-Verlon, Cardiff Road, Barry, Vale of Glamorgan CF63 2BE. If you feel that your complaint has not been sufficiently handled you may subsequently complain to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR, Tel: 0207 676 1000.

Financial Services Compensation Scheme

We are covered by the Financial Services Compensation Scheme. 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 £30,000 and 90% of the next £20,000, so the maximum compensation is £48,000. Further information about the compensation arrangements is available from the Financial Services Compensation Scheme.

Data Protection

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 F SA 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.

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 commission or alleged commission 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 01446 700701 or in writing to the above address.

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 purposes. 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.

S ubject 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.

Termination of this Agreement

You or we may terminate our authority to act on your behalf at any time without penalty. Notice of this termination must be given in writing. The termination will be without prejudice to the completion of transactions already initiated, if this is the case.

This agreement is governed by English Law.

Declaration  

Client consent

I understand and consent to the above terms and I hereby authorise the transfer of information, as described above on a confidential basis when warranted between such third parties. I agree that the Terms of Business will come into effect from the date of issue.

 I confirm I have received a copy of the firm’s Menu and Initial Disclosure Document, have read and understood the terms laid out in this agreement and have chosen for the firm to be remunerated by;  

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