Terms and Conditions

About these Terms and Conditions

These Terms and Conditions form part of the legally binding agreement relating to the Advice service provided by Copestone Wealth Management Limited to you.

These Terms and Conditions are reviewed and updated regularly.

The latest version of these terms can be found on our website: www.copestonewealth.co.uk

Should you have any questions, please contact your Financial Adviser.

These Terms and Conditions are comprised of:

Section A -  Definitions
Section B - General Terms and Conditions
Section C - Copestone Wealth Management Advice Service
Terms and Conditions
Section D - Appendix – Data Privacy Notice
Section E - Annex – Summary of Conflicts of Interest Policy

In the event of any inconsistency or conflict between the various sections of these Terms and Conditions, the Copestone Wealth Management Advice Service Terms and Conditions shall take precedence, then the General Terms and Conditions.

A. Definitions

About our services and costs document A document which includes key information about the Copestone Wealth Management Advice Service.

Agent An individual or firm, acting either as a buyer or a seller in a securities transaction on behalf of its clients.

Application Form Any application form(s) which is/are required to be completed by you in order for us to provide our services to you and/or for you to purchase a product.

Associate (or Associated Company) Any holding company of ours or any subsidiary of any such holding company as defined in the Companies Act 2006, as amended from time to time.

BACS The Banking Automated Clearing System, which allows payment to be made directly to a designated bank account through an automated process.

Business Day Any day except for Saturday, Sunday and public holidays in England, when banks in London are open for business.

Client Agreement These Terms and Conditions (including the Appendix and Annex) and the documents listed in the Copestone Wealth Management Advice Service Terms and Conditions.

Close Brothers Asset Management The trading name of Close Asset Management Limited (Registered number: 01644127), with registered office address at 10 Crown Place, London EC2A 4FT.

Close Brothers Group Close Brothers Group plc and its subsidiaries, each of which are our Associated Companies.

Conflicts of Interest Policy Our policy on conflicts of interest, a summary of which is set out in the Annex to these Terms and Conditions.

Copestone Wealth Management Limited (registered number 13426924), with registered office address at Acre House, 11/15 William Road, London NW1 3ER. Copestone Wealth Management is an appointed representative of Close Asset Management Limited trading as Close Brothers Asset Management.

Copestone Wealth Management Advice Service The Advice service offered by Copestone Wealth Management through which we provide you with financial planning advice.

Copestone Wealth Management Advice Service Terms and Conditions
The terms and conditions which apply to the Copestone Wealth Management Advice Service, as set out in Section C of these Terms and Conditions.

Data Privacy Notice The short form notice set out in the Appendix to these Terms and Conditions providing information as to how we may collect, process and retain your information, including Personal Data, for the purposes of making our services and products available to you.

Data Protection Legislation All applicable laws and regulations relating to the processing of Personal Data and privacy including the General Data Protection Regulation, Regulation (EU) 2016/679, as it forms part of domestic law in the United Kingdom by virtue of section 3 of the European Union (Withdrawal) Act 2018 (including as further amended or modified by the laws of the United Kingdom or of a part of the United Kingdom from time to time) and the Data Protection Act 2018, any amendment or re-enactment of them and, where applicable, the guidance and codes of practice issued by applicable regulatory bodies.

FCA The UK Financial Conduct Authority or any successor regulator.

FCA Rules The rules contained in the Handbook of Rules of the FCA, as amended from time to time.

Fees and Charges Schedule The document which describes the fees and charges payable by clients of Copestone Wealth Management.

Financial Adviser Your Copestone Wealth Management Advice adviser.

FSCS The Financial Services Compensation Scheme.

FSMA Financial Services and Markets Act 2000, as amended from time to time.

General Terms and Conditions The terms and conditions set out in Section B of these Terms and Conditions.

HMRC Her Majesty’s Revenue and Customs.

MiFID The Markets in Financial Instruments Directive (as amended), a European Union law which provides a harmonised regulatory regime for investment services across the member states.

MLR UK Money Laundering Regulations 2019.

Non Advised Transaction Transaction executed on your specific instructions and where Copestone Wealth Management has not given any advice or advised for or against the merits of the transaction or undertaken any assessment of suitability or appropriateness in accordance with FCA Rules.

Objectives The investment objectives, restrictions and financial goals we discuss and agree with you as amended from time to time.

Periodic Review A review by your Financial Adviser of your objectives and personal circumstances.

Personal Data Data which relates to a natural person who can be identified from such data as per the Data Protection Legislation.

Principal An individual or firm, acting either as a buyer or a seller in a securities transaction for its own account and risk.

Recommendation The financial planning strategies, including investments, restrictions and criteria recommended by us in the Suitability Report.

Suitability Assessment An assessment of whether the investments recommended to you by your Financial Adviser continue to meet your requirements. This is offered at least annually.

Suitability Report The document confirming the suitability of our advice and recommendation, based on your personal and financial circumstances, needs and objectives and risk profile.

Terms and Conditions Together the General Terms and Conditions, the Copestone Wealth Management Advice Service Terms and Conditions, the Appendices and the Annex.

We, us, our Copestone Wealth Management Limited.

You and/or your Our client to whom we provide our services and whose details are set out in any Client Agreement.

B. General Terms and Conditions

Please read and keep this document safe for future reference as it contains important legal and regulatory information. The Client Agreement forms the entire agreement, which governs the legal relationship between Copestone Wealth Management Limited and you and upon which we intend to rely. By signing up to the Client Agreement you will also be bound by these General Terms and

Conditions and the Copestone Wealth Management Advice Service Terms and Conditions, which constitute a legally binding contract.

Copestone Wealth Management Limited is a subsidiary of Close Brothers Group plc and is part of the Close Brothers Asset Management group of companies.

Close Brothers Asset Management is a trading name of Close Asset

Management Limited (Registered number: 01644127) and Close Asset Management (UK) Limited (Registered number: 02998803). Both companies are Subsidiaries of the Close Brothers Group plc group of companies, are registered in England and Wales and are authorised and regulated by the FCA. For the purposes of the Client Agreement, you are contracting with Copestone Wealth Management Limited.

If you do not understand any part of this document or the enclosures, or you have not received all of the documents referred to herein, or you are having difficulties reading this document in its current format, please speak to your normal Copestone Wealth Management contact. For further information please refer to the contact section of the Copestone Wealth Management Advice Terms and Conditions at Section C.

You may decide to make investments in financial products provided by Close Brothers Asset Management and/or other third parties. In such cases, additional terms and conditions may be applicable and these will be provided to you. Any additional terms and conditions shall supplement these Terms and Conditions. Any other products or services provided to you by Close Brothers Asset Management shall be governed by the Close Brothers Asset Management Terms and Conditions.

1. Regulatory Disclosures

1.1  Unless otherwise agreed, we will classify you as a Retail Client (as defined by the FCA Rules) and our services will be provided to you on this basis. This means that you are entitled to certain protections afforded to Retail Clients under the FCA Rules and under FSMA.

1. 2 A summary of our Conflicts of Interest Policy, is set out in the Annex to these Terms and Conditions, which you hereby confirm you have read, understood and agree to.

1.3 Close Asset Management Limited and Close Asset Management (UK) Limited are members of the FSCS. Compensation under the FSCS is subject to certain limits. In respect of most types of investment business the maximum compensation available is £85,000. This means that in the event Close Brothers Asset Management is unable to meet its liabilities, you may be eligible for compensation within the rules of the FSCS. Further details can be found on the FSCS’s website: www.fscs.org.uk.

1.4 If you have any complaints regarding our services, you should write to:

  • The Compliance Officer  Copestone Wealth Management  Acre House
  • 11/15 William Road London NW1 3ER
  • Or email: complaints@copestonewealth.co.uk.

1.5  If we cannot resolve your complaint satisfactorily, you may refer it to the Financial Ombudsman Service at Exchange Tower, London E14 9SR ( www.financial-ombudsman.org.uk). The Financial Ombudsman Service offers to investors, without charge, an independent complaints resolution service.

1.6 In order for us to provide our services contemplated under this agreement you must complete the relevant sections of the Client Agreement. We are entitled to rely on the information given in any Client Agreement and to assume that it is valid and correct. You acknowledge that we are not responsible for any consequences, if the information you have provided to us and which we have reasonably relied on is inaccurate or incorrect in any material way. You must notify us as soon as possible if any of the information provided to us by you needs to be updated.

1.7 No provision of these Terms and Conditions shall be deemed to restrict, qualify or exclude any duty owed to you under FSMA, the FCA Rules, or otherwise at law.

2. Eligibility requirements

2.1  In addition to any other eligibility requirements specified in Section C, our products and services are only available to persons over the age of 18 or to entities.

2.2 Overseas residents

2.3 We may be prohibited from making our services and products available in any jurisdiction other than the UK. If you reside in a jurisdiction other than the UK, we may be unable to provide our services and products to you.

2.4 If your country of residency changes at anytime after you become a Copestone Wealth Management client you are required to notify us. We may be required to close your Account and/or cease providing our services and products to you. We accept no liability for any financial loss or tax consequence that derives from a change in your country of residence.

3. Fees and Charges

3.1 You agree to pay our fees and charges as communicated to you in the relevant Fees and Charges Schedule.

3.2 We reserve the right to change these fees and charges subject to either: (i) providing you with 30 days’ prior written notice and any such changes shall be notified to you in writing in accordance with paragraph 14 of these General Terms and Conditions; or (ii) you accepting the new fees and charges, having been given written notice of the applicable fees and charges prior to acceptance.

3.3 Please refer to the Copestone Wealth Management Advice Service Terms and Conditions in Section C, which list the documents setting out the fees and charges applicable to your service. You should note that, unless stated otherwise and subject to certain exceptions, all fees are plus VAT (as applicable), and other related tax or imposition at the rates applicable from time to time. The VAT status of any charge will be confirmed in the document(s) setting out the fees applicable to your service, as detailed in the Copestone Wealth Management Advice Terms and Conditions.

3.4 We reserve the right to make a charge for the retrieval of information that may be held on our archive or for the provision of duplicate documents, such charges to be disclosed to you in advance.

3.5 You are liable for any reasonable costs we correctly and properly incur in providing the Services and/or the Products to you in accordance with these Terms and Conditions, including, where relevant, provider charges, transfer and registration fees, taxes, stamp duties and other fiscal liabilities. All charges to be passed on to you will be indicated on your confirmation statement, periodic statement or otherwise in accordance with the FCA Rules.

3.6  We reserve the right, to the extent permitted by law, to charge you interest on money you owe us at a rate of five percent above the Bank of England base rate. We may also make member firms of the London Stock Exchange and other relevant exchanges, other financial institutions and/or credit reference agencies aware of your payment record.

4. Risk Warnings

4.1  All investments involve a degree of risk. The value of investments and the income from them may go down as well as up. Past performance is not a reliable indicator of future returns or results and therefore you may get back less than the amount you invested. You acknowledge that you have read and understood this before doing business with us.

4.2  When we provide our services to you we may make available to you generic information on investments or markets, market trends, investment analysis or commentary on the performance of selected companies (‘Investment Information’). Investment Information is prepared for the benefit of all of our clients and is not based on a consideration of your particular circumstances. You must not, therefore, treat it as a personal recommendation or as investment advice given to you.

4.3 Investment Information represents our view at the time it is given. We may change our view without updating any Investment Information previously made available to you. Where applicable, you should read any documentation pertaining to your investments and their associated risks. We are not liable for any losses you may suffer from your use of our generic investment Information.

5. Custody and Client Money

5.1 We will not hold any money for or on your behalf, nor will we hold any certificates or documents evidencing title to any of your Investments. Crossed cheques for premiums or investment monies can only be made payable directly to the product provider. No premiums or investment monies of any kind should be paid or made payable to anyone else.

6. Instructions

6.1 Provided they are otherwise given in accordance with these Terms and Conditions, all instructions and notifications given by you shall be acted on as soon as reasonably practicable following receipt by us. We may require you to communicate with us in a specific manner with regards to a particular instruction.

6.2 We may act and rely without further inquiry upon any instruction or other notification which we believe in good faith is from you and, subject to those limitations on our liability as set out in this Client Agreement, we shall not be liable in respect of any error of transmission, misunderstanding or fraud of any other party. We shall also not be liable for reasonably following an instruction or notification which is not in fact genuine and for not following or for investigating further any instruction or notification which we consider may not be genuine. We may not acknowledge receipt of an instruction.

6.3 When we receive an instruction or a request to deal in an investment on your behalf, we may, as your Agent, pass your order to third parties (which may include Associates) for execution. Our Associates may deal either as Principal or Agent. Subject to where otherwise stated within these Terms and Conditions and to our obligations under applicable law and FCA Rules, we do not have to account or disclose to you any benefit which we or they may obtain as a result.

6.4 We reserve the right to refuse to act upon any instruction from you where, in our reasonable belief, to do so would: (i) contravene any applicable law, regulation or regulatory guidance; (ii) further a fraudulent scheme; (iii) harm a vulnerable client; or (iv) expose us to liability.

7. Communications

7.1 All information supplied by us, and all communications between us and you, will be in English.

7.2 We may communicate with you at any time using any reasonable method, including by letter, email, telephone or video call.

7.3 All communications with you will be recorded and retained by us (and made available to you upon request) in order for us to comply with our regulatory obligations and for monitoring and training purposes. This includes communications via telephone and video call, which will be recorded. We will record both the audio and video components of our video calls with you. Any recording will be our sole property and will be conclusive evidence of the conversation.

7.4 The records of all communications with you will be stored by us for a minimum period of 5 years from the date of the call, video call or communication or, where requested by a competent authority such as the FCA, for a minimum period of 7 years. In accordance with our data retention policy, we may hold copies of communications for up to 20 years.

7.5 Any email communication we send you will be deemed received by you when that communication leaves our server. Any email communication you send us will be deemed received by us when that communication is received on our server. We will endeavour to act upon any email communication received from you as soon as reasonably practicable after receipt. Any urgent written communication should be marked as such and followed up by telephone.

7.6  We will send all notices, information and other correspondence to you at the address or email address set out in the Client Agreement or such other address as you may notify to us from time to time. Letters sent to you by first class post shall be deemed to be delivered on the second business day after posting and emails shall be deemed received upon transmission.

7.7 Where relevant, we can refuse your instructions at our discretion and will not be liable for any losses or lost opportunities arising if we are seeking to clarify unclear instructions or if we refuse to act on your instructions.

7.8 You must let us know immediately in the event of any change to your contact details.

8. Account Ownership   Sole Accounts

8.1 In respect of any Account you hold in your sole name, the following shall apply:

  1. You confirm that you are the only person beneficially entitled to the assets of the Account.
  2. Any instruction, notice, demand, acknowledgement or request to be given by or to you under this Client Agreement must be given by or to you personally within the terms of this agreement. No other person may be deputed or authorised to give or receive the same unless you provide us with such written authority as we, in our absolute discretion, may deem necessary.
  3. Your liabilities under or in connection with this agreement are your sole responsibility.

Entity Accounts

8.2 If you have entered into this agreement through a corporate, trust or other entity structure, the following shall apply:

  1. The formal authority of the trustee or authorised representative shall be shown to our satisfaction;
  2. Any instructions, notice to terminate, demand, acknowledgement or request to be given by or to the trustee or authorised representative must be given by or to all of them, unless agreed otherwise;
  3. This agreement shall continue notwithstanding the death, removal or incapacity of a trustee or authorised representative. The continuing trustee(s) or authorised representative(s) must notify us as soon as is practicable to our satisfaction details of any change to the trustees or authorised representatives together with the authority for any new appointment;
  4. Notwithstanding the terms of any trust or constitutional documentation, except where otherwise agreed the liability of the trustees or authorised representatives under or in connection with this agreement shall be personal, joint and several;
  5. We shall not be concerned with the claims of any person or organisation under the terms of any trust or constitutional documentation; and
  6. We are required to ensure that all legal entities are uniquely identifiable. Where you enter into the Client Agreement in a non-personal capacity, for example under a trust or corporate structure, we require you to obtain, or provide your consent for us to obtain on your behalf, a legal entity identifier (LEI). If we obtain an LEI on your behalf, we will not renew this annually unless you ask us to. If you require us to renew your LEI at any time after it has been initially obtained by us please let us know. We will inform you of the cost of this renewal before we complete the renewal on your behalf.

9. Inducements

9.1 We may pay or receive from third parties, fees in relation to referral of business. We do not enter into soft commission arrangements, (being those under which we would receive goods or services in return for designated investment business). The receipt of any minor non-monetary benefits will be of such a scale that they will not influence our behaviour in such a way that is detrimental to client interests, and they are capable of enhancing the quality of Services provided to you. These minor non-monetary benefits could include:

(a)        generic information or documentation related to instruments and/or services;

(b)        participation in relevant conferences, seminars and training events;

(c)        de minimis hospitality at such events and business meetings;

(d)        allowable free trials of investment research; and

(e)        permissible material relating to corporate issuers.

10. Liability

10.1  Nothing in these Terms and Conditions excludes or limits our liability for death or personal injury arising from our negligence, or our fraud or fraudulent misrepresentation or wilful default, or for any other liability that cannot be excluded or limited by English law or the FCA Rules.

10.2 We will not be liable for:

  • loss of profits, sales, data, business, or revenue;
  • business interruption;
  • loss of anticipated savings;
  • loss of business opportunity, goodwill or reputation;
  • loss caused for reasons which are beyond our reasonable control;
  • loss or lack of gain or adverse tax consequence, arising from any transaction made or not made by you; or
  • loss that was not foreseeable to both parties when the contract was formed.

10.3 You acknowledge that we cannot accept responsibility for the performance of any product or investment, the content of any documentation, provided by a third party provider nor the actions of counterparties and custodians or subcustodians.

10.4 If you become aware of any inaccuracies or errors concerning your account or any reports or communications you receive through your use of Copestone Wealth Management products and services, then please let us know as soon as you can so that we can investigate the matter for you.

11. Financial Crime Prevention and Client Identity Verification

11.1 Copestone Wealth Management is required by law to implement controls to counter the risk of financial crime, including the criminal facilitation of tax evasion. The identity of all clients, any beneficial owners and certain associated parties (where applicable) must be verified prior to acceptance as a Copestone Wealth Management client. This may involve checks against information held by licensed credit reference agencies, which may record that such enquiries have been made; this should not affect your credit rating score. We will also verify your identity electronically using the bank account details you provide to us, which will include sharing those details with one of our third party partners in order to undertake such checks. By entering into a Client Agreement, you confirm that you have the permission of all parties to the business relationship to these checks being undertaken. If we cannot verify an identity electronically, certified copies of identification documents may be required.

11.2 As part of the due diligence process, we assess the purpose and intended nature of the proposed business relationship and may request information necessary to establish the legitimacy of your source of wealth and source of funds. We may need to contact you to request additional information and/or documentation, which may result in a delay in the provision of our services to you.

11.3 In certain circumstances, including but not limited to where we identify that you, your spouse, a close family member or a close business associate, is a ‘Politically Exposed Person’ (as defined in the MLR), we will apply enhanced due diligence measures which may include additional verification checks, media searches and obtaining evidence of the source of wealth or income.

11.4 All regulated firms are required to keep client information up to date: we hereby reserve the right to request additional information and/or documentation as part of our ongoing monitoring of the relationship. A range of trigger events, such as a request to expand the business relationship, change of address, appointment of a new relevant associated party (e.g. trustee, director, shareholder) will prompt Copestone Wealth Management to seek appropriate evidence.

11.5 Payments can only be made to bank accounts in your own name. We will not make any payments to third parties unless required to do so by applicable law and regulation, or where we otherwise agree.

12. Data Protection

12.1 We may collect, use and store the personal information, including sensitive personal information, which you submit to us in any Client Agreement and in correspondence with us, including information relating to the services and products which we provide to you, transactions that you carry out and your relationship with us and our Associates (‘Information’).

12.2 The manner in which we may use your Information is summarised in the short form Data Privacy Notice attached as an Appendix to these Terms and Conditions.

13. Transfer and Delegation

13.1 Subject to applicable law and regulation, we reserve the right to transfer our rights and obligations under these Terms and Conditions to another appropriately regulated entity that we determine is capable of performing these obligations and exercising these rights, upon giving prior written notice to you.

13.2 Any written notice shall take effect on the date specified, which shall not be less than 30 days after the issue of such notice. For the avoidance of doubt, any such transfer does not require your express consent. These Terms and Conditions are personal to you and cannot be assigned by you.

13.3 In performing services under these Terms and Conditions, we may delegate activities to third parties (including Associates) selected by us. We will, at all times, act in accordance with the FCA Rules and applicable law in the selection, use and monitoring of all delegates.

14. Amendment

14.1 We may, at any time and without prior notification, change the terms on which we provide services or products to you to reflect a change in law or any regulation (or the way in which they are applied), or to reflect the requirements of any regulatory authority or governmental body, including the FCA or HMRC.

14.2 We may, at any time with prior notification, change the Client Agreement, the services or products we provide to you (in each case, without requiring a change to the Terms and Conditions) for any valid reason including, but not limited to, the following:

  • to reflect a change in technology, to cover an improvement or change in our services or in the facilities we provide;
  • to reflect a change in market conditions or the overall cost of providing our services and/or products to you; and
  • to ensure the good management or competitiveness of our business.

14.3 Subject to paragraphs 14.1 and 14.2, we will give you not less than 30 days’ notice of any changes to our Terms and Conditions and/or any changes to the applicable fees and charges. If you do not agree with any change notified to you, subject to paragraph 15, you may terminate your Client Agreement with us without penalty. Alternatively, we may make changes to our Terms and Conditions and/or the applicable fees and charges on less than 30 days’ notice where you provide your consent to these changes.

14.4 For the purposes of these Terms and Conditions, unless stated otherwise, written notification shall include notification in hard copy or electronically; by post, email, or by directing you to the relevant section of our Website.

15. Termination

15.1 The Client Agreement may be terminated by you at any time by written notice to us.

15.2 We may terminate the Client Agreement by giving at least 30 days’ written notice of our intention to do so except that we may terminate the Client Agreement at any time by written notice if you are declared bankrupt or if we are required to do so by any regulator.

15.3 Upon termination of your Client Agreement, you shall pay:

  1. a due proportion of our fees up to the date of termination;
  2. any transfer charges outlined in the Fees and ChargesSchedule;
  3. any expenses reasonably incurred in transferring assets to you or to your order;
  4. any losses necessarily realised in settling or concluding outstanding obligations.

15.4 We may also pass on any third party fees which we incur as a result of termination by you.

15.5  This paragraph 15 is subject to any restrictions on termination which may apply to any particular Product or Investment.

16. Death and Incapacity

16.1 In the event of your death, we will need to receive formal written notification of this along with an original, or a certified copy of the death certificate.

16.2 In the event of the death of a sole Account owner, we will take no instructions until we receive an original or certified copy of the grant of probate, certificate of confirmation (in Scotland), letters of administration or equivalent, or such other documentation as we may deem necessary in the circumstances. On receipt of such documentation, we will take instructions from your executor(s), personal representative(s), or any other duly authorised person, subject to continued compliance with our Terms and Conditions.

16.3 The Client Agreement shall bind your executor(s), personal representative(s), or any other duly authorised person.

16.4 We shall not be affected by the claims of any person or organisation interested in the estate.

16.5 In the event of your incapacity, we will take instructions from your properly authorised attorney. We reserve the right to refuse to accept any power of attorney document which does not meet our reasonable requirements, as notified to you at the relevant time.

16.6 This paragraph 16 shall be subject to anything to the contrary in the Specific Terms and Conditions.

17. Force Majeure

17.1 We shall not be liable to you for any failure or delay in performing any of our obligations if any such failure or delay is due to any cause outside of our reasonable control. Events outside our reasonable control shall include, without limitation (a) acts of God; (b) any change to the law or regulation of a governmental or regulatory body; (c) any act of terrorism; (d) market conditions affecting the execution or settlement of transactions in respect of your account; (e) any ‘denial of service’ or other targeted network attack; (f) industrial action; and (g) any event or circumstance that we are unable, using reasonable skill and care, to avoid.

18. Bribery Act

18.1 Neither you nor we, nor any member of the Close Brothers Group shall engage in any activity, practice or conduct which would constitute or result in an offence by either party under applicable anti-bribery laws or regulations, including the Bribery Act 2010.

18.2 We shall devise, implement and enforce our own written anti-bribery policies and procedures constituting adequate procedures under the Bribery Act 2010.

19. Third Party Rights

19.1 Save as stated otherwise in these Terms and Conditions and with the exception of Close Asset Management Limited, for the purposes of the Contracts (Rights of Third Parties) Act 1999, no person who is not a party to these Terms and Conditions may enforce them.

20. Legal and Tax

20.1 You are responsible for the management of your legal and tax affairs, including making any applicable filings and payments and complying with any applicable laws and regulations.

20.2 You acknowledge that we are not legal or tax advisers and we do not provide legal or tax advice. We recommend that you obtain your own independent legal and tax advice, tailored to your particular circumstances. You should not rely on any information provided by us as a substitute for taking your own independent legal or tax advice.

21. Severability

21.1 If any provision of these Terms and Conditions is found by any court or other authority of competent jurisdiction to be illegal, invalid or unenforceable in whole or in part, that provision (or part provision) shall, to the extent required, be deemed not to form part of such Terms and Conditions, but shall not affect the legality or enforceability of any other provision.

22. Waiver

22.1 No waiver by us or you of any provision of any of these Terms and Conditions, shall be deemed to be a waiver of any subsequent breach of that or any other provision, and any forbearance or delay by us or you in exercising any of our or your rights under the relevant terms and conditions, shall not be construed as a waiver of such rights.

23. Choice of Law

23.1 All our terms and conditions and any other matters relating to the relationship between us and you will be governed by and construed in accordance with English Law.

23.2 The English courts will have exclusive jurisdiction to settle any disputes or claims which may arise out of or in connection with any of our terms and conditions and all parties agree to submit to such jurisdiction.


C. Copestone Wealth Management Advice Service

1.  General

1.1  For clients of the Copestone Wealth Management Advice Service, the Client Agreement shall comprise these Terms and Conditions and

  1.  About our services and costs document;
  2. Fees and Charges Schedule;
  3. Application

2.  Financial advice and implementation

2.1 Our financial advisory service is known as the Copestone Wealth Management Advice Service.

2.2 At the time of selecting this service, and if you engage us to provide an ongoing advisory service, an initial Suitability Report will be prepared once we have undertaken a ‘fact find’ exercise with you, during which one of our Financial Advisers will request certain information about your personal and financial circumstances, your needs and Objectives and your risk profile. A Suitability Report will be prepared for any subsequent financial advice given. For any advice provided to you other than in person (for example, over the telephone or on a video call), you agree that you may receive a Suitability Report without undue delay after conclusion of any relevant transaction. Alternatively, you have the option to elect to delay the transaction until the Suitability Report has been delivered.

2.3 Further to any financial advice given, we may implement your instructions to invest in a range of financial products operated by third parties including but not limited to investment funds, protection products, personal pensions, including stakeholder pension arrangements, SIPPs, ISAs and onshore and offshore bond products as are agreed between us from time to time. Investment in any such product will be subject to these Copestone Wealth Management Advice Service Terms and Conditions as well as any terms and conditions for the specific product chosen. We are not limited to choosing products issued or provided by providers with close links to us, or any other form of close relationship (such as legal or economic) and we are able to choose from a wide range of product providers.

2.4 In order to provide you with financial advice, we will request detailed and relevant information from you in respect of your investment knowledge and experience relevant to the type of investment transaction, attitude to risk, your personal and financial circumstances, your financial planning objectives, capacity for loss and potential future changes. This will enable us to act in your best interests and assess the suitability of our recommendations to meet your objectives. You acknowledge that we are entitled to rely on the information you provide us, unless we are aware that such information is manifestly out of date, inaccurate or incomplete. If you engage us to provide an ongoing advisory service, we will undertake a Suitability Assessment in accordance with the FCA Rules.

2.5 We will confirm to you the outcome of the Suitability Assessment in writing.

2.6 The Suitability Assessment will be based on your objectives and personal circumstances as set out in your most recently completed fact find, completed as part of your Periodic Review. It is therefore essential that you understand the importance of your Periodic Review and update us with any new or unexpected changes in your circumstances.

2.7 If you do not provide any information requested by us, either because you are unwilling or unable to provide such information, or if you provide us with inaccurate or insufficient information, we may not be able to provide you with suitable advice or enter into transactions on your behalf.

2.8 You authorise us to act as Agent on your behalf with full authority to complete application forms and any other administration incidental to the implementation of Recommendations made by us. You also authorise us and any third party product providers to correspond directly in connection with the services, and/or such third parties to deliver correspondence to us on your behalf and to release confidential and personal information relating to you to enable us to perform our services.

2.9 Copestone Wealth Management can provide advice on all aspects of financial planning such as pensions, investments, annuities, protection, inheritance and tax efficiency planning. Because we are an appointed representative of Close Brothers Asset Management, by promoting Close Brothers Asset Management’s own investment products and services we are classed as providing ‘restricted advice’. However, if there is not a suitable Close Brothers Asset Management investment solution to meet your needs, or if you prefer a third party option, we can recommend investment offerings from other firms. Our advice is based on a broad analysis of different types of investments. Close Brothers Asset Management also provides investment management services using its own solutions, which select investments from the entire investment universe without bias.

2.10 Following our advice you may instruct us to arrange transactions for you, including investment in any investment products. We will use reasonable endeavours to carry out those instructions, subject to our legal and regulatory obligations.

2.11 All decisions on whether to invest in, hold or dispose of any asset or to enter into any agreement are yours. We shall not enter into any transaction on your behalf without prior reference to you.

2.12 Where you do not follow our Recommendations, we take no responsibility for the outcome. Where the investments held in connection with your Objectives were not acquired on our advice or were retained against our advice we may, but are not obliged to, make Recommendations, which we reasonably consider are consistent with seeking to achieve your Objectives. However, you accept that not following our Recommendations may reduce the likelihood of achieving your Objectives.

2.13 We will use our reasonable endeavours to achieve your Objectives, but we will not be responsible if your Objectives are not achieved for any Recommendation, whether or not you acted on our advice.

3. Changes to your objectives

3.1 If your Objectives and/or personal circumstances change at any time while you are receiving ongoing advisory services from us, you should advise of this change in your circumstances in writing as soon as possible so that we can undertake a new Suitability Assessment.

4. Specific instructions

4.1 If we advise you that your proposed course of action is not suitable for you, but you confirm in writing that you wish to proceed, we may accept your instruction, but only on an insistent client basis, in which case you acknowledge that we will not be required to ensure that the transaction is suitable for you. Separately, if you do not require advice, we may inform you at the time that we may execute your order on a Non Advised Transaction basis.

5. Fees and charges

5.1 The documents setting out the fees and charges which apply to clients of the Copestone Wealth Management

Advice Service are:

  1. About our Services and Costs Document; and
  2. Fees and Charges Schedule.

6. Instructions and communications

6.1 We require all instructions from you to be given in writing. We may at our discretion accept instructions from you by email.

6.2 Please send written instructions to Copestone Wealth Management, Acre House, 11/15 William Road, London, United Kingdom, NW1 3ER.

6.3 We may contact you at our discretion by email at any time.

7.  Reporting

7.1 We may provide you with a contract note or third party transaction confirmation (unless the third party transaction confirmation is provided to you directly) if required by FCA Rules. If we do not provide you with a contract note we will provide you with a schedule of transactions and a report containing a valuation of your investment(s), a statement of fees and any investments or money which we are holding on your behalf on a quarterly basis.

7.2 We rely on the reports and information supplied by third parties (such as product providers) in order for us to produce our reports for you, which may cause a delay. The information provided by third parties may be subject to certain assumptions and estimates and while we will use reasonable endeavours to make sure the information provided to you is accurate, you acknowledge that we cannot guarantee that this will always be the case and we cannot accept liability for any losses that might result as a consequence of errors in information provided by third parties.

7.3 Reporting will be made available to you by email. We reserve the right to charge for hard copy reports and reports and accounts.

7.4 We reserve the right to charge for non-standard reporting requested by you at a rate which we shall agree with you ahead of supplying any such reporting.

8. Cancellation and Cooling Off Rights

8.1 In addition to any rights to cancel certain investments, you also have the right to cancel the ongoing advice service provided to you by Copestone Wealth Management. You can exercise this right by writing to us at Copestone Wealth Management, Acre House, 11/15 William Road, London, United Kingdom, NW1 3ER. Cancellation will have immediate effect but all advice charges relating to our services, products and third party products will continue to run to the end of the month in which you make your cancellation.

8.2 Once we have provided you with initial investment planning and strategic advice and we have processed the relevant business or issued an invoice, our initial fee will become payable. If you exercise your right to cancel any investment or ongoing advice service, any refund received will not include a refund of this initial adviser charge.

9. Contact

9.1 If you have any questions regarding the Copestone Wealth

Management Advice Service, please speak to your usual Copestone Wealth Management contact, or contact us on +44 (0) 20 7388 7000.

Appendix – Data Privacy Notice

Copestone Wealth Management Privacy Policy

Our contact details

Name: Copestone Wealth Management Ltd

Address: Acre House, 11/15 William Road, London. NW1 3ER

Phone Number: 020 7380 4940

Email: info@copestonewealth.co.uk

The type of personal information we collect

We collect personal data, which is information that can be used to identify you or tell someone something about you. This can include your name, date of birth and contact details. It can also include information such as your financial circumstances, your bank details and records of communications, e.g. letters and recorded telephone conversations and video calls.

Purposes for which we use your personal data

The main ways in which we process your Personal Data are:

A. To verify your identity, address and bank account details in order to be able to accept you as a Copestone Wealth Management client. We will carry out credit reference, antimoney laundering, terrorist financing and fraud prevention checks (which may include sharing personal data with credit reference and fraud prevention agencies).

B. To manage, administer and take decisions regarding your account, such as: assessing your suitability for the products and services that you have requested or that we have recommended, providing those products and services to you, and exercising our rights and performing our obligations under our client agreement with you (e.g. buying, selling and transferring investments, receiving and paying out monies and keeping you up to date with how your investments are performing).

C. Managing our legitimate business interests, such as: improving customer service, to send promotional information about our products and services, market research, quality assurance, training staff, system development and statistical analysis of your Personal Data even if you or we subsequently decide not to enter in to a client agreement with you.

D. To meet our legal and regulatory obligations.

Sharing your information

As a company, Copestone Wealth Management Limited will share your Personal Data, including your sensitive Personal Data with our principal, Close Brothers Asset Management.

Upon receipt of your Personal Data, Copestone Wealth Management Limited will become a data controller with respect to your Personal Data.

To allow us (Copestone Wealth Management Ltd) to process your Personal Data for the purposes summarised above, we need to share it with a number of third parties.

We will share your information with:

A. Credit reference and fraud prevention agencies. We are required to undertake checks on all prospective clients. These include credit reference, anti-money laundering, terrorist financing and fraud prevention checks. We will share your information with credit reference and fraud prevention agencies to verify your address, identity and bank account details. Although a record of our check will remain on your record, it will not affect your credit score.

B. Those Associates who assist us in administering your account.

These may be based outside the European Economic Area. Copestone Wealth Management uses a number of third party suppliers to provide systems, software and expertise in the execution and delivery of its products and services to you and may share your Personal Data, including your Special Category data with any of these. For further information regarding our arrangements with these data processors, please refer to our Privacy Notice on our website at www.copestonewealth.co.uk.

Please be assured that these third parties will not use your data for marketing purposes. We will always take appropriate measures and meet our legal obligations to ensure that any Information transferred to such third parties is kept securely.

C. Third party product providers – where you request, or we recommend, a third party’s product or service, we will share all necessary Personal Data with them in order to provide you with that product or service. As that third party will then be a data controller, you should also read their privacy notice to understand how they will process your data.

D. Our Associates, UK and overseas law enforcement agencies, HMRC, regulatory authorities and other bodies who may have a legal right to the data, for example an authorised representative acting on your behalf or our legal and other professional advisers – to fulfil our regulatory and contractual obligations or for crime prevention purposes.

Under the General Data Protection Regulation (GDPR), the lawful bases we rely on for processing this information are:

Your consent

You are able to remove your consent at any time. You can do this by contacting Copestone Wealth Management Ltd.

We have a contractual obligation.

We have a legal obligation.

We have a vital interest.

We have a legitimate interest.

How we store your personal information

Your information is securely stored off site via our Customer Relationship Management system.

Our Customer Relationship Management system operates within a cross functional technical service architecture group, who are responsible for information security and data protection.

We keep personal data on file whilst a live client servicing agreement is in place.  Should this cease, we will retain the above data for a minimum of 6 years. Any client data deleted will be removed from our client servers and third party Customer Relation Management system.

Your data protection rights

Under data protection law, you have rights including:

Your right of access – You have the right to ask us for copies of your personal information.

Your right to rectification – You have the right to ask us to rectify personal information you think is inaccurate. You also have the right to ask us to complete information you think is incomplete.

Your right to erasure – You have the right to ask us to erase your personal information in certain circumstances.

Your right to restriction of processing – You have the right to ask us to restrict the processing of your personal information in certain circumstances.

Your right to object to processing – You have the the right to object to the processing of your personal information in certain circumstances.

Your right to data portability – You have the right to ask that we transfer the personal information you gave us to another organisation, or to you, in certain circumstances.

You are not required to pay any charge for exercising your rights. If you make a request, we have one month to respond to you.

Please contact us at Copestone Wealth Management if you wish to make a request.

How to complain

If you have any concerns about our use of your personal information, you can make a complaint to us at Copestone Wealth Management Ltd.

You can also complain to the ICO if you are unhappy with how we have used your data.

The ICO’s address:

Information Commissioner’s Office Wycliffe House Water Lane Wilmslow Cheshire


Helpline number: 0303 123 1113

ICO website: www.ico.org.uk


Annex – Conflicts of Interest Policy

1. Conflicts Of Interest Policy

1.1 Copestone Wealth Management Limited is required by the FCA to take all appropriate steps to identify and to prevent or manage, record and, where relevant, disclose actual or potential conflicts of interest. We are committed to operating in the best interests of our clients and managing conflicts of interest fairly. Where we have a material interest or a conflict of interest, we may not knowingly advise or deal unless we have taken appropriate steps to ensure that our clients’ interests are not adversely affected.

1.2 From time to time, we or anyone connected with us may execute transactions for you where we, or another client of ours, have an involvement that may conflict with our duty to you. We will ensure that any such conflict, or potential conflict, does not affect the transactions we carry out for you in any material way. If we cannot manage a conflict then we will tell you so.

1.3 We have established a Conflicts of Interest Policy, which sets out the types of actual or potential conflicts of interest which affects our business and provides details of how they are managed in accordance with the above paragraphs.

1.4  Further details and updates of this policy are available upon request or at www.copestonewealth.co.uk

Copestone Wealth Management Limited

Acre House

11/15 William Road



Telephone 020 7380 4940


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