Seymour Sinclair Investments Ltd

Terms and Conditions of Business

This document forms your terms of business with Seymour Sinclair Investments Limited (SSI) and is designed to come into force upon receipt.

• Terms and Conditions of BusinessThis is an important document, which aims to confirm the details about our services, the cost of those services and the way in which we will provide these. Therefore please ensure that you read it carefully and if you do not understand any point or have any questions in relation to the information contained herein, then please do not hesitate to contact us and seek further explanation.
• Our Contact Details are:
  Seymour Sinclair Investments Limited
  2 Blade Mews, London SW15 2NF.
  02088707072 ~ info@seymoursinclair.co.uk ~ www.seymoursinclair.co.uk
• Regulation
  Seymour Sinclair Investments Limited is authorised and regulated by the Financial Conduct Authority, our FCA Register number is 177616.
  
  The FCA contact details are:
  12 Endeavour Square, London, E20 1JN, United Kingdom.
• Our Execution-Only Services
  Seymour Sinclair Investments (SSI) introduces clients both to product providers and to investment platforms. In doing so SSI act as the client’s agent and never own investments that SSI arrange. All investments purchased through us will be either registered in the client’s name or, in the case of investments held on platforms, with a nominee. Where SSI use platform services SSI are introducing you to the platform. You are contracting with the platform to arrange, safeguard and administer your investments.
  
  The product provider or platform shall normally be responsible for forwarding to you all documents of title to investments. If SSI do receive documents SSI will pass them on to you as soon as practicable.
  
• Basis of using our Services
  Seymour Sinclair Investments Limited (SSI) offer invitations to invest on a non advised direct offer basis and execute the instructions of investors on an execution only basis only. No advice or recommendations will be given on any investment product. This means that we carry out and transact your instructions on any business arranged through ourselves. We do not give investment advice or recommendations on any product and do not advise on the suitability of an investment product. We do not risk rate investment products. SSI does not give tax advice.
  
  As all business is carried out on this basis, it is the client’s responsibility to ensure that the investment product is clearly understood, including the risks and advantages.
  
  Unless otherwise informed SSI will send you mailings via post & email to give information on investment products. Any information included in our newsletters must not be relied upon when making an investment. An investor must always read the Key Investor Information Document (KIID) on any investment product before proceeding with it. If you wish to be removed from our mailing list, it is your responsibility to inform us. Your data will be protected under the Data Protection Act.
  
  If you are unsure as to the suitability of an investment for your particular financial circumstances, you should seek expert financial advice before proceeding further. If you are still unsure in any way about a type of investment or policy we would urge you not to proceed.
  
  All application forms, contract notes, cheques, certificates or documents of title are be sent by post at the client’s risk.
  
  SSI accepts no liability to clients who purchase two ISAs in one fiscal year, or otherwise do not comply with ISA rules.
  
  To prevent or detect fraud, or to assist in verifying your identity, SSI may make searches at credit reference or fraud prevention agencies or at the electoral register.
  
  You should assume that all telephone calls, web-site use and email between you and SSI will be recorded. These recordings will be the sole property of SSI and may be used for training purposes or as evidence in the event of a dispute.
  
• Communications
  SSI will normally communicate with you and expect to receive communications from you in English. If you wish to communicate with us in another language, please contact us.
  
  In most cases, communications that you receive from us will be in writing. We may also communicate verbally with you by telephone. SSI requests that our clients give us instructions in writing to avoid possible disputes. Therefore, any verbal instruction you make should be confirmed in writing thereafter.
  
• Your Responsibilities
  Acquisition costs, currency conversion costs and tax arising in connection with investment transactions will be your responsibility.
  
  SSI is not liable for any depreciation of any investment or devaluation of currency. We do not accept liability for default by any third party who is the nominal holder of your registered investment or holds documents of title or certificates evidencing title to any of your investments. If policy documents, contract notes or any other expected document is not received by you within 30 days of sending in your investment, it is your responsibility to contact either ourselves or the investment company concerned to confirm details of the investment. We cannot be held responsible in any way for items lost or delayed in the post. If documents are lost in the post it is usually possible for copies to be obtained via ourselves.
  
  Customers are asked to give us instructions regarding their investments in writing to avoid possible disputes. This is usually done by the completing of an Execution Only Investment Confirmation Form. You, or we, may terminate authority to act on your behalf at any time without penalty. Notice of this termination must be given in writing and will not affect the completion of any transactions already initiated on your behalf.
  
• Client Categorisation
  It is our intention to categorise you as a retail client from outset and provide our services on this basis, as it offers the highest level of regulatory protection to you. Should you wish, you may request to be reclassified as an elective professional client. At your own request you can invest into unregulated investment products or offshore investments using our services in which case we will allocate you as a professional investor.
  
  This means that you will lose certain protections under the Financial Services and Markets Act 2000 enforced by the Financial Conduct Authority. In addition, we will not have to adhere to all of the rules as set out by the Regulator in respect of financial promotions and we will not have to ensure that you understand all the risks associated with the transactions and services we provide. This responsibility is entirely with the investor.
  
• Client Money
  SSI does not handle clients’ money and we never own the investments that you buy through us. Therefore, we never accept a cheque made out to us, unless it is in settlement of charges/ fees or costs for which we have sent you an invoice or agreed previously, nor do we handle cash.
• DO NOT MAKE CHEQUES PAYABLE TO OURSELVES
  If cheques are received payable to us, they will be returned immediately to the investor which will delay the investment being made. No responsibility will be accepted for this delay.
  
  All investments will be registered in your name unless otherwise agreed in writing. We will forward all Policy Documents / Contract Notes to you within seven days of receipt. Even if requested we will not retain clients’ cheques for longer than 48 hours. If retained they will be held in our company safe.
  
• Conflicts of Interest
  In the course of our dealings with you, we consider it unlikely that we will have a conflict of interest, or material interest in the transaction, other than the receipt of fees or commission described above. Where however, we have a conflict of interest, or a material interest, or where we are aware that one of our other customers has such an interest, we will disclose full details to you in writing or orally before we advise you about the transaction and give you the opportunity to object to this interest.
• Investment Platforms ~ Fidelity Adviser Solution & Aegon ~ Charges & Fees
  SSI is not a Platform ~ we use the Fidelity Adviser Solutions or Aegon Platforms.
  
  The Platform is a financial administrator and has sole responsibility for safeguarding and administering your investments. Please refer to the Platform Terms of Business on our web-site or the Fidelity Adviser Solutions or Aegon websites before proceeding with any business through our website. Please note that when using our website you are not buying funds through SSI as an administrator, but an introducer of business.
  
  For business through a Platform, investors will buy ‘Clean’ class shares, where the charges are taken separately from investors holdings. Fund Manager, Platform and our fees will be taken as three separate charges from investor’s cash accounts or from the redeeming of units on a monthly basis. SSI reserve the right to increase these charges; however, before doing so, we will inform investors at least 30 days before such action is taken.
  
  SSI will receive an ongoing agents fee of 0.28% p.a. from the Platforms based on the value of all your investments (£28pa on a £10,000 investment). Calculated daily and taken from your account on a monthly basis. For the purpose of paying these fees you are obliged to authorise and instruct the Platform to either deduct the fee from your cash account or sell units/shares. This authorisation will normally take the form of completed application form, either paper or online. However, if the fee is part of a restructuring of the charges you are already paying as a result of regulatory changes then, provided the overall cost to you remains unchanged or is lower, we will notify you in advance but will not require your written consent. If possible Fees will be taken from your Cash Manager Account, if however there are insufficient funds in this account, it will be necessary to encash units. These will normally be taken from your largest holding; however, you can stipulate a chosen fund. The Platform will receive money from such sale, deduction or redemption as agent for SSI, and that such money will become irrevocably due and payable to SSI on receipt by the Platform.
  
  If the whole fee due still can’t be collected, the Platform will add what you owe to the amount they collect at the next due date, and will keep doing so until the balance has been paid. Where the units/shares are to be purchased in the name of more than one person, it is the customer’s responsibility to obtain the consent of all investors. All customers must accept the charging structure and how it will affect any new and existing investments before they are able to proceed with their investment.
  
  As from 1st January 2016, all investor’s holdings will move from a ‘Bundled’ share class, (i.e. charges added into the unit price) to ‘Clean’ shares. This change will be carried out by the Platform, who will confirm the change. Before 1st January 2016, we will move any Platform business to explicit fee/charging basis and adviser charges will be taken from investor’s holdings.
  
  We may vary the fees and costs of our services from time to time or introduce a new charge. Any change, or new charge, will be proportionate to the costs we incur and with a view to the market rates.
  
• Investment Platforms ~ Fidelity Adviser Solution & Aegon ~ Terms of Business
  You agree that you will enter into an agreement with the Platform Provider and be bound by the Platform Provider's terms of business and any changes to those terms from time to time.
  
  Note: The Platform Provider's terms of business (and any other documents they specify) will form a direct legally binding agreement between you and the Services Provider so please read them carefully.
  https://www.seymoursinclair.co.uk/document-downloads/
  
• Direct Investments
  SSI are no longer accepting business for investments made directly with the Fund Management investment companies. All business will be transacted via our account with Fidelity Adviser Solutions Platform
  
• Moving investments from a direct fund manager to a Platform
  In the spirit of the FCA Consumer Duty guidelines, to ensure that our clients are receiving the best value from their investments SSI will review the charges currently levied on our clients direct holdings. If it is in the customers best interest to move from direct fund management administration to a Platform, SSI will move General Investment Accounts (GIA) and ISAs for customers in such a way that is not financially detrimental and in their best interest and SSI will inform clients accordingly of the re-registration or transfer and will not require your written consent. Please note that unit cancellation may be used to pay for service charges/fees.
• Structured Products
  SSI provide a range of Structured Investment and Structured Deposit Plans to private investors on a non-advised basis. Structured investment plans are not capital protected and are not covered by the Financial Services Compensation Scheme(FSCS) for default alone. It’s important to fully understand your chosen investment by reading the full Key Investor Information Document (KIID).

Financial Services Compensation Scheme

1. Complaints
   It is our intention to always provide the highest quality level of advice and service. However, if you become dissatisfied with our provision of, or the failure of us to provide a financial service and want to register a complaint, please write to us at the address given at the beginning of this document or telephone us on 020 8870 7072. Please also note that a summary of our procedures for handling complaints is available on request.
   
   If we are unable to settle your complaint to your satisfaction, you may be entitled to refer it to the Financial Ombudsman Service.
   
2. Anti-Money Laundering Verification and Data Protection
   Information that we hold about you will be held on computer and/or in paper files under the Data Protection Act 1998. This information will be used to administer your application, to deal with queries and to bring to your attention additional services and products that may be of benefit to you. You may ask us not to contact you about additional services and products by writing to us at the address shown in this letter.
   
   The information that you give us may be disclosed to third parties, such as product providers and credit reference agencies for the purpose of processing your application, successors, our regulator, and to our compliance advisers. It will also enable further services to be provided.
   
   SSI must verify your identity when you open your account and may do so again at any time while you are a customer of ours. SSI will not open accounts for you or provide you with our services until SSI are satisfied in this regard. Further, you agree that SSI may conduct credit checks as SSI deem appropriate. Your personal information, including your identification documents that you provide to us, will be processed in accordance with our Privacy Policy, which is available on SSI website.
   
3. Recordings
   SSI will record communications between you and us that lead to a transaction in an investment. This includes where you contact us over the telephone. SSI will provide a copy of these records on request. SSI will keep these records for 5 years starting on the date of the communication.
4. Amendments
   It may on occasion be necessary to amend our terms of business with you. Unless we obtain your consent, we will give you at least fourteen days notice of our intention to do so, before conducting investment business with or for you, unless it is impractical in the circumstances to do so.
   
   These terms of business may be terminated at any time without penalty by either party, giving seven days notice in writing to that effect to the other, but without prejudice to the completion of transactions already initiated. A due proportion of any charges for services provided shall be settled to that date.
   
5. Order Execution Policy - Introduction
   FCA rules require us to give you these details on our Order Execution Policy and SSI shall consider that you have consented to this Policy unless you object. SSI will notify you of any material changes to our order execution arrangements or execution policy. If you provide us with specific instructions regarding an order SSI will act in accordance with those instructions. Please note this may prevent us from taking the steps set out in this Policy to obtain the best possible result in respect of the elements covered by those instructions.
6. Our Policy
   The general rule is that we must take all reasonable steps to obtain, when executing orders, the best possible result for clients.
   
   In order of priority we consider price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of an order when placing an order. We will only override the price and cost factors mentioned if this is likely to be in your interests. In practice this means that we will place orders with the agreed provider as soon as possible and transfer holdings to a Platform from a direct fund manager.
   
   In addition, we will also take into consideration the nature and characteristics of your transaction. Where your transaction can be directed and any specific instructions you give us, whether received on an individual basis or as a general instruction to be applied to all your transactions.
   
7. General
   These Terms & Conditions apply to hard copy and on-line business through our website www.seymoursinclair.co.uk
   Seymour Sinclair Investments adheres to the FCA Treating Customers Fairly policy and to Consumer Duty rules.
   If you require printed copies of these Terms of Business, please telephone or email us at admin@seymoursinclair.co.uk.
   
   February 2025