Lonsdales Client Agreement

Lonsdales can advise on Life Assurance, Pensions, Unit Trusts and OEICS. Lonsdales is a trading name of Torquil Clark Ltd who is authorised and regulated by the Financial Services Authority as an Independent Financial Adviser under the Financial Services & Markets Act 2000. We will act on your behalf in advising you on products from the whole of market. Our FSA number is 145789. You can check these details on the FSA Register by visiting their website www.fsa.gov.uk/register or by contacting FSA on 0845 6061234. We are located in the UK. We will communicate with you orally and in writing.

The provision of this Client Agreement will take effect immediately they are provided to you.

We offer you independent financial advice based on information provided by you. We will obtain your objectives prior to providing you with advice. If there is information that you do not tell us we cannot take such information into account when providing advice. We require our clients to give us instructions in writing, to avoid possible disputes. If the matter is urgent we will accept oral instructions provided they are confirmed in writing. Occasions can arise where we, or one of our other customers, will have some form of material 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 and obtain your consent before we carry out your instructions. If we can continue to act for you, we will tell how we will ensure your interests are protected. On occasion we may have to cease acting for you, but will help you find advice from elsewhere, if you want us to.

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 and will take effect from the date of receipt. Termination is without prejudice to any transactions already initiated that will be completed according to this Client Agreement unless otherwise agreed in writing. You will be liable to pay for any transactions made prior to termination and any fees that may be outstanding. Other than as stated in this paragraph, there are no cancellation rights that apply to this Client Agreement.

In the case of a non-packaged product, ISA, PEP or CTF recommended we will inform you, in writing, of any right to withdraw or cancel you may have, otherwise, we will inform you in writing that no such rights will apply.

Lonsdales may, from time to time, receive fees from product providers for advertisements in the company brochure, bulletins, website or other material. The existence of an advertisement should not be taken as an endorsement of any particular product by Lonsdales.

In most circumstances we will provide you with a document to explain the 'cost of our services'; this is known as our menu. Where appropriate we will also discuss the payment of fees and should this service be required, we will ask you to sign a fee agreement before we commence any chargeable work. We shall tell you the amount of commission payable to us on any investment contract arranged. Additional costs, such as imposed taxes, may also be payable. Such costs will normally be required to be settled with the relevant body directly. If we receive a commission or other form of benefit from the issuer of a security or from another intermediary, we will inform you, but will not tell you its amount unless you ask us to do so. If we have agreed to rebate all or part of our commission, this will normally be sent to you shortly after we receive it from the investment company. However, we undertake to send any rebate to you within thirty days of receipt in any event. Please note that 'renewal' commissions are not rebateable. We never own the investments that you buy through us.

Once we have made recommendations to you, we will confirm our advice in writing. You should keep this, as it will be an important record of our discussions.

WE ARE NOT AUTHORISED TO HANDLE CLIENTS' MONEY. We never accept a cheque made out to Lonsdales or handle cash, unless the payment is for fees. All investments will be registered in your name unless otherwise agreed in writing. NB: In the case of rebated commissions, any commission received from product providers is the property of Lonsdales until it is actually paid into the account of the client.

We will forward to you all documents showing ownership of your investment 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 the documents until the series is complete and then forward them to you. We cannot accept responsibility for delivery of any applications, cheques or other documentation once they have been entrusted to the Royal Mail or other delivery service.

The information you have provided is subject to the Data Protection Act 1998. By confirming your authorisation to proceed you are consenting 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. It may also be used for statistical purposes. Personal information provided may be retained for at least six years, and will not be disclosed to other parties except other businesses within the same group, representatives of our compliance advisers, our auditors, other professional advisers such as accountants and solicitors who may have referred you to our practice or to whom we may wish to refer you for specialist advice when we consider that it would be in your best interest to do so and any organisation requiring access to such information for regulatory purposes only, or any person having a legal entitlement to access. We may search the files of credit reference agencies who will record the search. 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. To assist us in providing you with a comprehensive service and to keep our records as up to date as possible, please notify us of any changes to your personal circumstances, e.g. name change, change of address, etc., as soon as possible.

We may use the information that we hold about you to contact you from time to time by post, fax, email or telephone to bring to your attention additional products or services, which may be of benefit to you only if we have received your consent to do so. If you do not wish your information to be used in this way please advise us.

We maintain professional indemnity insurance; this covers our legal liability in the event of our negligence and is in addition to our contribution to the Financial Services Compensation Scheme.

When we have arranged any investments for which you have given us instructions we will not give you any further advice unless you request it, but will be glad to advise you at any time you ask us to do so.

If we arrange for you to take out a life policy, it is possible that we will not charge you a fee for our services because we will receive commission from the Life Assurance Company or friendly society. IF YOU SUBSEQUENTLY CEASE TO PAY PREMIUMS ON THE POLICY, and in consequence we are obliged to refund commission that has been paid to us, WE RESERVE THE RIGHT TO CHARGE YOU A FEE based on the number of hours spent in advising you and arranging the policy BUT WE WILL NOT CHARGE ANY FEE IF YOU EXERCISE YOUR RIGHT TO CANCEL THE POLICY IN ACCORDANCE WITH THE CANCELLATION NOTICE SENT TO YOU BY THE LIFE ASSURANCE COMPANY OR FRIENDLY SOCIETY. If we recommend to you any policy to which this paragraph applies, we will at the same time inform you in writing of the maximum amount of any such fee and when applicable.

This document should be read in conjunction with the Key Facts About Our Services document and where applicable, the Key Facts About the Cost of Our Services document.