SFS Invest Direct Invest Direct is a trading division of Skipton Financial Services Limited and as such is authorised and regulated by the Financial Services Authority (FSA) and is accordingly bound by its rules. We are registered by the FSA to advise on, and transact business in, Life Assurance, Pensions, Unit Trusts, Individual Savings Accounts (ISA) and Investment Trust Savings Schemes.
An important FSA rule requires that before we conduct business with you, we must ensure that you understand the form that our service will take, how we will be remunerated and your rights in the relationship. Accordingly, we now take the opportunity to clarify such matters.
Skipton Financial Services is a whole of market financial adviser. However, on this occasion SFS Invest Direct Invest Direct, in partnership with FundsNetwork (an investment supermarket from Fidelity Investments) is providing you access to a trading platform to select an appropriate ISA, Unit Trust, OEIC provider. Services offered by SFS Invest Direct Invest Direct are provided solely on a direct offer/execution only basis. This means that we will not give you advice nor will we keep your investments under review. Financial advice is however available through Skipton Financial Services, should you wish to receive advice in the future.
Remuneration
We do not charge a fee for this service, our income is derived from the commission paid to us by FundsNetwork for placing your business with them, and renewal commission each year dependent on the value of your fund(s). You will be advised of the commission amount to be paid to us prior to completing your proposal form. On receipt of your proposal form Fidelity will confirm to you the amount of commission paid to us. If, as a result of your investment we receive any other benefit from Fidelity or anyone else, we will advise you of the fact, although the amount involved will only be disclosed on request.
We maintain records of all our business transactions for at least six years from the date the last piece of business was transacted. You have the right to inspect copies of our records, whether paper based or computerised, relating to your transactions. A small administration fee may be charged for this service.
To avoid possible disputes, we normally require instructions to act for our clients to be in writing. We may however, accept verbal instructions at our discretion.
SFS Invest Direct Invest Direct does not handle client money.
SFS Invest Direct Invest Direct is unable to accept cheques for the business you transact through this service, all payments will be made by direct debit to Fidelity Investments. In addition, all paperwork associated with investments you choose to transact through this service will be administered by Fidelity Investments.
The agreement to which these Terms of Business relate may be terminated, without penalty, at any time by either party giving written notice to the other party, which will be effective upon receipt of that notice.
While Skipton Financial Services is a financially sound company we are required to advise you of the compensation arrangements which exist in the event of the Company becoming insolvent. Accordingly, you should be aware that if you make a valid claim against SFS Invest Direct Invest Direct in respect of any investment we have arranged for you, which is covered by the Financial Services & Markets Act 2000, i.e. Life Assurance, Pensions, Unit Trusts, ISAs and Investment Trust products, and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme. Details of the cover provided by the scheme are given in a leaflet which we will send to you on request. Further information is available direct from the Financial Services Authority and the Financial Services Compensation Scheme. We will be happy to provide contact details on request.
Reference throughout these Terms of Business to Skipton Financial Services Limited (SFS) also includes MIA (Medical Insurance Agency) which is a division of Skipton Financial Services Limited.
Telephone calls to/from Skipton Financial Services may be recorded and or monitored.