This document sets out the basis on which we will conduct business with you and on
your behalf. It is our standard client agreement and we intend to rely on it. It
is an important document and, for your own benefit and protection, we would ask
you to read it carefully before proceeding with our service. If you are unsure of
any of its terms, please contact us for an explanation.
The terms of this Client Agreement come into force immediately you engage us to
conduct business and services for you, and remains in force until further notice.
This service is only for those who are UK Resident for tax purposes and not
suitable for US Citizens.
SaidSo is a trading name of Chapters Financial Limited which is authorised and
regulated by the Financial Conduct Authority. The Financial Conduct Authority
(FCA) regulates the financial services industry in the UK and their address is
12 Endeavour Square, London, E20 1JN. You can check this on the
Financial Services Register by visiting the FCA’s website www.fca.org.uk or by
contacting the FCA on 0845 606 1234. Our FCA Register Number is 402899.
Our permitted business is advising on, distributing and arranging transactions in
savings and investment products, pensions and protection contracts for both
corporate and individual clients.
SCOPE OF SERVICE
SaidSo offers independent financial advice and therefore provides investment
services and distributes products from the whole market and from a range of
insurers for non-investment insurance (i.e. term assurance, critical illness
cover, permanent health insurance, private medical insurance) on the basis of 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/financial circumstances, including your needs. Any
advice or recommendation will be based upon your stated objectives, acceptable
level of risk, and any restrictions you wish to place on the type of investments
and insurance policies you are willing to consider. Details of your stated
objectives will be included in the Financial Planning Report confirming the
reasons for our recommendations.
We reserve the right to decline SaidSo applications for commercial reasons and to
change or withdraw the terms and prices of the SaidSo offer at short notice. In
using the SaidSo service, you agree that we may use external agencies to check
identifications and addresses, where required, in electronic format.
Each client with whom the firm does business is categorised to identify the level
of regulatory protection. We propose to classify you as a ‘Retail Client’ which
affords you the highest level of regulatory protection available.
OUR SERVICE AND FEES
SaidSo’s corporate objective is to ensure that you receive high quality online
independent financial advice, both at the outset and afterwards, giving you the
opportunity to review your financial planning regularly.
SaidSo offers a three stage financial planning service online to allow you to
access what you need for your financial planning. These are as follows:
|SAIDSO SERVICE POINTS
|Your individual SaidSo financial planning report
|Stage 2: Implementing your SaidSo recommendations when agreed
|Stage 3: Review of your circumstances later on to keep you on track
You will need to settle our fee in a single payment at the start of the process
Our review service is only available to existing SaidSo customers who have already
used our full advice and implementation services. We will only conduct a review on
your specific request.
This review would normally include:
- Update of your personal details.
Review of the impact on your financial planning strategy of any changes in your
circumstances and those of market changes.
Review of your existing portfolio of investments/ performance of the underlying
Update on any taxation, legislative or investment developments since the last
Implementation of any agreed changes, such as fund switches or changes to
pension contributions/ income payments.
We will normally communicate with you and expect to receive communications from
you in English. If you wish to communicate with us in another language, please
In most cases, communications that you receive from us will be confirmed in
writing and online. We will not meet with you face to face or normally communicate
with you by telephone. The preferred communication method for this service is as
an online service. We request that our clients give us instructions in writing to
avoid possible disputes. Therefore, any verbal instruction you make should be
confirmed in writing thereafter.
We will send you a welcome email at the start of your SaidSo financial planning
process. After this, we may send you reminder emails. You can opt out of these by
sending an unsubscribe email to advice@SaidSo.co.uk
We may, at our discretion, refuse to accept instructions although such discretion
shall not be exercised unreasonably. We keep records of all business transactions
for at least five years. You have the right to inspect copies of any papers or
computer records relating to your transactions. We do, however, reserve the right
not to provide you with copies of records, if information relating to other
parties would be disclosed.
In the event of SaidSo assisting you in the completion of any investment
application or policy proposal forms you will continue to bear full
responsibility for the accuracy and completeness of the information entered on
such forms. It is your responsibility to provide complete and accurate information
to us and insurers when you commence your policy, throughout the life of your
policy, and when you renew your insurance. It is important that you ensure that
all statements you make on proposal forms, claim forms and other documents are
full and accurate. We cannot be held responsible for incorrect data held in the
event of non-disclosure.
If you fail to disclose any material information to us or your insurers, this
could invalidate your insurance cover and could mean that part or all of a claim
may not be paid.
We must take all sufficient steps to obtain the best possible result on your
behalf when placing or passing on your instructions to buy or sell an investment.
This is referred to as ‘best execution’. We are required to put in place, provide
a summary of and obtain your consent to our best execution policy. A summary is
available as Appendix I and, by proceeding with our service, you are consenting to
REGISTRATION OF INVESTMENTS
Where we arrange a life policy, pension or investment for you, the provider will
produce documentation as evidence of the transaction. All investments will 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 are involved, we will normally hold each document until the
series is complete and then forward them to you. We cannot retain such title
documents for whatever reason including holding them as security.
Unless advised to the contrary, we will assume that you wish to place no
restrictions on the markets in which transactions are to be executed or on the
types of investment or insurances we may recommend and in which you may
For your additional security SaidSo does not handle clients’ money and we never
own the investments that you buy through us. We never handle cash or accept a
cheque made out to us, unless the cheque is in settlement of charges or costs for
which we have sent you an invoice.
We will be required to verify your identity in accordance with the Proceeds of
Crime Act 2002 and the Money Laundering Regulations 2007. We reserve the right to
approach third parties and to delay any applications until adequate verification
of identity has been obtained.
YOUR UNDERSTANDING OF INVESTMENT RISK
Because the value of investments can go down as well as up, you may not get back
the full amount invested. Levels of income from investments may also fluctuate
and/or affect the capital value of the investment. Past performance should not be
seen as an indication of future performance.
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 offer Independent Financial Advice, but occasions arise where we or another
customer will have some form of interest in business which we are transacting for
you. Conflicts of Interest are impossible to remove entirely but we identify,
monitor and manage real or potential conflicts in order to safeguard our clients’
Conflicts of Interest
The following actual or potential conflicts of interest have been identified:-
- Access to confidential information
- Outside business interests or personal relationships
- Inducements and non-monetary benefits
We rely on a policy of independence to manage any conflicts of interest between
Chapters Financial and our clients or between one client and another. This means
that it is possible that there may be material interest or conflicts of interest
relating to the service given to clients but we are required to disregard that
material interest or conflict of interest when advising clients.
We monitor where conflicts of interest may exist such as having a material
interest in relation to a transaction or recommendation, and if we believe we are
unable to manage a specific conflict of interest using this policy of independence
we will disclose the conflict to clients by writing to you with full details and
the steps we will take to ensure fair treatment, and obtain your consent before we
carry out your instructions. Ultimately, if we believe that disclosure would also
not manage the conflict fairly, we must decline to act for the client.
Minor non-monetary benefits
The investment platforms and product providers we use/recommend make available a
variety of technical product and legislative information as well as online tools
enabling us to map the performance of clients’ portfolios and gather other data to
help with our communications to clients. This may be in the form of information
that is generally available to all financial advisers such as guides on how to
complete application forms, projections of future benefits, and confirmation of
why their products may be suitable for specific individuals/circumstances. We also
have access by telephone and email to technical help desks which we use to discuss
possible solutions to particularly complex client situations and to request tax
These are facilities that platforms and providers make available to all financial
advisers with the sole aim of enhancing the quality of the service to clients.
Platform and product providers and fund managers may also provide us with training
presentations in the form of webinars, and occasionally roadshows, to explain
legislative or regulatory changes and developments or to describe new products or
You can receive more detailed, specific information on request.
RIGHTS TO CANCEL
We will inform you of your statutory right to cancel. The Distance Marketing
Directive normally grants you 30 days in which you may cancel a life or pension
contract whereas the cancellation period for a unit trust or ISA is normally 14
days. In general terms you will have a 30 day cancellation period for a pure
protection policy. However there will be occasions where no statutory rights are
granted. Should this situation arise we will notify you of the facts before any
contract is concluded.
It is our intention to always provide the highest quality level of advice and
service. If however you become dissatisfied with our provision of, or our failure
to provide, a financial service, and you wish to register a complaint please
contact Keith G Churchouse FPFS, at SaidSo, Hadleigh House, 232 High Street,
Guildford, Surrey, GU1 3JF, telephone (01483) 578800.
Your complaint will be investigated in accordance with the firm’s complaints
handling procedure, a copy of which will be supplied to you. If you are not happy
with the way we have carried out our investigation or the result, you may be
entitled to refer it to the Financial Ombudsman Service (FOS). Further information
about the FOS is available from their website www.financial-ombudsman.co.uk.
SaidSo is covered by the Financial Services Compensation Scheme (FSCS) through
Chapters Financial Limited if we cannot meet our obligations. This is dependent
upon the type of business and the circumstances of the claim. Most types of
investment business are covered by 100% up to a maximum of £50,000 whereas
insurance advising and arranging is covered for 90% of the claim, without any
Further information about this compensation scheme arrangement is available from
the FSCS at www.fscs.org.uk.
PROTECTION OF PERSONAL DATA
These Terms of Business exclude any rights, which may be conferred upon third
parties by the Contracts (Third Party Rights) Act 1999.
This client agreement is governed and shall be construed in accordance with
English Law and the parties shall submit to the exclusive jurisdiction of the
SaidSo shall not be in breach of this Agreement and shall not incur any liability
to you if there is any failure to perform its duties due to any circumstances
reasonably beyond its control.
The authority to act on your behalf may be terminated at any time without penalty
by either party giving seven days’ notice in writing to that effect to the other,
but without prejudice to the completion of transactions already initiated. Any
transactions effected before termination and a due proportion of any period
charges for services shall be settled to that date.
For your own benefit and protection you should read these terms carefully before
proceeding with our service. If you do not understand any point please ask for
These are our standard Terms of Business on which we intend to rely.