Non-Advisory Terms of Business
About us:
Fair Investment Company, of Kings House, 14 Orchard Street, Bristol, BS1 5EH is authorised and regulated by the Financial Services Authority (FSA). Our FSA registration number is 192852. You can check that we are registered by checking the FSA website on http://www.fsa.gov.uk/ or by writing to: The Financial Services Authority, 22 The North Colonnade, E14 5HS.
Advice:
This Terms of Business document relates solely to our non-advisory service which provides customers with information to assist them in selecting products they feel are most appropriate for their needs. Nothing in the website or in any of the documentation/information sent to you shall be deemed to constitute advice or a recommendation to purchase a particular product or service. If you are in any doubt as to the suitability of the product or service we suggest that you seek independent financial advice. We are able to offer an advisory service and you should contact our Customer Services Team if you require details.
Our Service:
Fair Investment Company effectively acts as “introducer” and will introduce you to other companies who provide financial products and services. Our website provides you with the opportunity of researching and selecting financial products over the Internet.
Investment products featured on the http://www.fairinvestment.co.uk/ website are promoted on a non advised sale basis. This means that in many cases we will send to you at your request full details on a specific investment. The information sent to you will be sufficient for you to decide whether the investment meets your requirements. If you decide to proceed, we will process the application form on your behalf.
Risk:
Please be aware that investments can fall as well as rise, and that you may not get back the full amount invested. The price of investments may depend on fluctuations in the financial markets, which are outside our control. Past performance is not necessarily a guide to future performance.
Non regulated products and services:
Please note that the FSA does not regulate all of the products featured on the website. For example: the FSA currently does not regulate commercial mortgages/finance, credit cards and some forms of buy to let mortgages and secured loans.
Client Money:
We are not authorised by the FSA to handle client money. We never accept cheques made out to us unless it is in settlement of charges for which we have sent you an invoice. In addition, we do not accept or handle cash.
Investment Documents:
We will register all investments in your name unless otherwise agreed in writing. All documents of title in respect of investments will be forwarded to you directly by the investment manager. We will aim to acknowledge receipt of your application form and cheque (except online application forms) within two working days of receiving your application form.
Cashbacks:
For eligible structured investment products, where a cashback is offered, for an investment to be eligible for a cashback, the structured product must pay an introductory fee of at least 3%. Additionally, it must be an investment of £10,000 and over, although this could include new capital, ISA transfers and be spread over one or more investment products, however, the application forms must be received at the same time. Individual investments for husband and wife/civil partners will be treated for cashback purposes as being one investment provided that the total investment is at least £10,000 and the application forms are received at the same time. In no other instances will a cashback be payable.
Financial Services Compensation Scheme:
We are covered by the Financial Services Compensation Scheme. Further information about compensation arrangements is available from the Financial Services Compensation Scheme.
Cancellation Rights:
You should be aware that as no advice has been provided by Fair Investment Company Limited, certain investments may not qualify for a cooling off period. A cooling off period of 14 days from the date of receipt of the cooling off notice will apply to all structured products unless stated otherwise in the literature. For other investments, full details of whether a cooling off period applies can be found in the individual product brochure which should be read carefully.
Data Protection:
Fair Investment Company Limited is registered under the Data Protection Act 1998. We will use the information you provide to us to process your application and provide you with information that we consider will be of interest to you.
Processing includes obtaining, recording or holding information or data, transferring it to other companies associated with us, product providers, the FSA 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 will supply on request, copies of entries in our records relating to your transactions although we reserve the right to make a charge for any expenses incurred. We undertake to retain such records for at least six years (and many documents we retain for a significantly longer period) from the date of each transaction.
If at any time you wish us or any company associated to cease processing your personal data or contacting you for marketing purposes, please contact The Data Protection Officer at our address.
Complaints:
If for any reason you need to complain about the website, please write to the Compliance Officer at Fair Investment Company, Kings House, 14 Orchard Street, Bristol BS1 5EH.
Accuracy:
Whilst every attempt has been made to ensure that the information on the website and that which is being sent to you is correct and up to date, no warranty or representation is given as to its accuracy or reliability. Whilst the website covers a wide range of products, you should also be aware that there may be other products available on the market, which are not shown on the site, and which may or may not be more competitive.
Paying for our Services:
Fair Investment Company receives introductory fees, or commissions, or both, from third parties to whom introductions are made. Fair Investment Company are entitled to an Introductory fee of up to 3.5% of the amount invested in respect of an investment, however, the actual amount that we receive will depend on the type of investment effected on your behalf.
For structured investments where the introductory fee is factored into the returns quoted, a cashback may be payable on certain investments (see below). For investments in collective investments such as unit trusts, open ended investment companies (OEICs) and venture capital trusts (VCTs) we have elected to receive no introductory fee in order to enhance the terms to you. In addition, a trail commission of up to 0.5% each year may be payable to us and again this is included within the standard charging structure of the investment. For savings products we either take an initial commission or a trail commission, but not both. You will receive full details of the introductory fee/initial commission payable/given up and the trail commission to be paid directly from the investment manager
For Example:-
| Regular contributions | E.g. £100 a month investment |
| Collective investments (unit trusts, OEICs, etc) | Nil initial commission plus up to 0.5% of your fund value each year, so £0 initial commission plus £6 trail commission in year two and so on (the actual amount in later years will vary in line with the value of your fund). The trail commission is included within the standard charging structure of the investment. |
| Structured products | Not applicable as regular contributions are not permitted |
| Venture Capital Trusts (VCTs) | Not applicable as regular contributions are not permitted |
| Savings Accounts | Accounts pay either initial commission (up to 1.2%) or trail commission (up to 0.4%), but not both. So depending on the product it could be £1.20 initial commission, or £4.80 trail commission in year two and so on (actual amount will vary in line with the value of your savings account). |
| Lump sum investment | E.g. £20,000 investment |
| Collective investments (unit trusts, OEICs, etc) | Nil initial commission plus up to 0.5% of your fund value each year, so £0 initial commission plus £100 trail commission in year two and so on (the actual amount in later years will vary in line with the value of your fund) The trail commission is included within the standard charging structure of the investment. |
Structured products | Initial commission of up to 3.5%, so Fair Investment Company will receive £700. This commission will be paid directly to us by the product provider and is taken into account within the standard charging structure of the product. No annual trail commission will be payable. Cashback may be payable. Please see the Cashbacks section for eligibility criteria. |
| Venture Capital Trusts (VCTs) | Nil initial commission plus up to 0.5% of your current fund value, or initial investment each year, so £0 initial commission plus £100 trail commission in year two and so on (the actual amount in later years may vary in line with the value of your fund). The trail commission is paid directly to us by the investment manager and is included within the standard charging structure of the investment. |
| Savings Accounts | Accounts pay either initial commission (up to 1.2%) or trail commission (up to 0.4%), but not both. So depending on the product it could be £240 initial commission or £80 trail commission in year 2 and so on (actual amount will vary in line with the value of your savings account). |
Links to other sites:
The Fair Investment Company website contains links to other websites. Fair Investment Company cannot accept responsibility for any information given or advice provided by these other sites.
UK Residents:
The Fair Investment Company (http://www.fairinvestment.co.uk/) website is aimed at UK residents and those ordinarily resident only and the terms and conditions are governed by English Law. Those considering investing through Fair Investment Company but who are currently residing outside of the UK should contact Fair Investment prior to proceeding.
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.