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RETAIL CLIENT AGREEMENT KERR HENDERSON (CONSULTANTS AND ACTUARIES) LTD

Investments | Pensions | Insurance WE LISTEN, WE ADVISE, WE DELIVER


Investments | Pensions | Insurance WE LISTEN, WE ADVISE, WE DELIVER

RETAIL CLIENT AGREEMENT

KERR HENDERSON (CONSULTANTS AND ACTUARIES) LTD RETAIL CLIENT AGREEMENT 1. This Retail Client Agreement, together with the Letter of Engagement to which this Agreement is attached, sets out the basis on which we will conduct business with you and on your behalf. It is an important document and we would ask that you read it carefully. If you are unsure of any terms please contact us immediately for an explanation. 2. The terms of this Agreement come into force upon our appointment by you following your signature on our Letter of Engagement and shall remain in force until further notice. They are to be read and understood in conjunction with the facts set out in our Private Client Proposition and with the other terms agreed with you in our Letter of Engagement. 3. Kerr Henderson (Consultants and Actuaries) Limited is an appointed representative of Kerr Henderson (Financial Services) Limited which is authorised and regulated by the Financial Services Authority (FSA number 188411) to arrange and advise on investments, pensions and general insurance. You can verify this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk or by contacting the FSA on 0845 606 1234. 4. We are Independent Financial Advisers advising on products from the whole market and the advice we give you is independent. Our address is 29-32 College Gardens, Belfast BT9 6BT. 5. We are required by law to verify our clients’ identity. We will normally do this electronically and will be able to proceed with your instructions whenever the required verification has been obtained. Any information provided by you must be complete and accurate in all respects. 6. Nothing in this Agreement will exclude or restrict our liability or any duty we may have to you under the Financial Services & Markets Act 2000 (the “Act”) or the Financial Services Authority Handbook (the “FSA Handbook”) when supplying you with a service regulated by the Act. 7. Our services are provided to you on the basis that you are a “Retail Client” for investment business and a “Retail Customer” for general insurance and pure protection business in accordance with the FSA Handbook. 8. In order to provide you with advice and recommendations suitable to your overall personal and financial circumstances we will arrange to undertake a 'Fact Find' to gather the appropriate information. We will then be able to set out clearly your financial planning objectives in our recommendation report. 9. Unless you inform us that there are any restrictions as to the type of investment on which you wish to receive advice, we will only provide advice on investments within our authorisation that we believe are suitable for you. This may, exceptionally, include advice on investments relating to, or executing transactions in, unregulated collective investment schemes. We will not provide any service relating to futures, options or contracts for differences. 10.We will provide services to you on the basis of what you agree in writing with us in the Letter of Engagement, which will set out whether and if so, how regularly we will review your financial affairs. The review will include consideration of contracts that we have arranged for you and, if required, those that you have transferred to our agency.


Investments | Pensions | Insurance WE LISTEN, WE ADVISE, WE DELIVER

RETAIL CLIENT AGREEMENT

11. You will pay us for our investment services on the basis of adviser charging. The charges payable by you in respect of our investment services are as more particularly detailed in our Letter of Engagement and will be paid by you using your selected payment option, also as more particularly detailed in our Letter of Engagement, by bank transfer or by cheque. Should you fail to pay the adviser charges as and when they fall due, we shall notify you of this in writing and give you a reasonable time within which to make payment. Should the adviser charges remain unpaid at the end of this period, we reserve the right to terminate our engagement with you immediately without further notice. 12. We may be paid by commission for advising and arranging on insurance products, i.e. pure protection contracts that do not have an investment element. 13. If you exercise your right to cancel the purchase of a product, the payment for which has been facilitated through product charges, we will instruct the product provider to make the refund to you net of the adviser charge already paid. You will need to contact us for a refund of the adviser charge and we reserve the right to retain a proportion of the agreed charge according to the time expended on our instructions as at the date of cancellation which has not been paid, such proportion to be calculated using the hourly rates stated in our Private Client Proposition or, as applicable, our Letter of Engagement. 14. We require you to give us instructions in writing, in English, to avoid possible disputes. This will usually be in the form of a proposal form or application form. We will, however, accept oral instructions in certain circumstances provided they are subsequently confirmed in writing within 2 days of the instructions being given. The acceptance of oral instructions will be entirely at our own discretion and we shall not accept any liability associated with our refusal to accept or act on your oral instructions. 15. We will make arrangements for all your investments to be registered in your name unless you have instructed us otherwise in writing. 16. RISK WARNINGS. The value of investments may go down as well as up, and you may not get back the amount you originally invested. Levels of income from investments may fluctuate and/or affect the capital value of the investment. Non-readily realisable investments (such as property) will generally have a restricted market, and therefore it may be difficult to deal in that investment or to obtain reliable information about its value. 17. We do not hold documents or certificates (or copies thereof) relating to any investment except on a temporary basis for settlement purposes. Any documents we receive will be sent as soon as possible to you or to any third party you have nominated. 18. We will not be responsible or liable to you for any delay or failure to perform the services (whether you incur financial loss or not), where matters beyond our control cause such delay or failure. 19. For your protection WE DO 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.


Investments | Pensions | Insurance WE LISTEN, WE ADVISE, WE DELIVER

RETAIL CLIENT AGREEMENT

20. For the avoidance of doubt, we do not accept liability for default by a third party in any transaction or by a third party you authorise to hold money or investments or who is the nominal holder of your registered investments or who holds documents of title or certificates evidencing title to any investments on your behalf. 21. Circumstances may occasionally arise where our interests or those of our other clients conflict with your interests. We or another client may have a material interest in a transaction or investment in which you are also interested. We will notify you if we become aware of any such conflicting material interest and shall obtain your consent before carrying out your instructions. 22. We are registered as a Data Controller under the Data Protection Act 1998. It is understood that we keep personal and financial information with regard to your circumstances on file (electronic and/or paper based) as required to be able to advise you in respect of your financial planning needs. We confirm that the information we hold in this manner accurately reflects the information that was obtained from you. We confirm that this information will not be used, or transferred by us to any other firm or company outside of the Kerr Henderson Group other than, in the case of annuities and with your permission, The Open Market Annuity Service Ltd. We cannot be held responsible if the information held on your file becomes inaccurate due to any change in your circumstances if you fail to inform us of those changes. We will take appropriate technical and organisational measures to guard against unauthorised or unlawful processing of such data and against accidental loss or destruction of, or damage to, such data. We keep records of your business transactions for at least five years, depending on the type of business. 23. If you wish to register a complaint, please contact us in writing or by phone. Write to Michael Kerr, Managing Director, Kerr Henderson (Consultants and Actuaries) Limited, 29-32 College Gardens, Belfast BT9 6BT or call 028 9066 1931. 24. 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 to the limit of £50,000 per person per firm. Further information about the compensation scheme arrangements is available from the FSCS. 25. You have a right to cancel our ongoing services without penalty, at any time by giving not less than 30 days’ written notice. We will continue to process any transactions in progress unless instructed by you not to do so. We will not make any charge in respect of cancellation of the ongoing service apart from an amount which is in proportion to the extent of the service already provided by us to you up to the date of cancellation of the ongoing service. 26. In exceptional circumstances we reserve the right to terminate our agreement with you by giving you not less than 30 days’ written notice. 27. This Agreement will be governed and construed in accordance with the Law of Northern Ireland and each party agrees to submit to the non-exclusive jurisdiction of the courts of Northern Ireland as regards any claim or matter arising under this agreement.

Version 1: January 2013


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