Terms of Business

AUTHORISATION

Chartwell Financial Management Limited is an appointed representative of Chartwell Financial Services Ltd, (Lindley Court, Scott Drive, Altrincham, Cheshire, WA15 8AB) who is authorised and regulated by the Financial Services Authority (FSA). As such, we are bound by the FSA's rules.

1. PRODUCTS AND SERVICES
   
   We are able to offer independent advice on Life Assurance, Pensions, collective investment schemes, shares in investment trust savings schemes, and to advise on and arrange the purchase or sale of securities. Some of these services may include advice on investments relating to, executing transactions in units in unregulated collective investment schemes. For the purposes of this letter you have been classified as a "private customer"
2. RECORD KEEPING
   
   The firm maintains client records indefinitely. Clients have the right to inspect copies of contract notes, vouchers and entries in our books or computerised records relating to your transactions.
3. INSTRUCTIONS
   
   We require our clients to give us instructions in writing, to avoid potential disputes. We will, however, accept oral instructions provided they are subsequently confirmed in writing.
4. INVESTMENT ADVICE
   
   As part of our service, we will review your investments upon request, writing to you with a statement of their current value and with any recommended changes. If required, we will arrange for an interview to discuss any recommendations made.
5. CONFLICTS OF INTEREST
   
   We offer independent advice, but occasions can arise where we, or one of our other customers, will have some form of interest in business, which 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 in writing and obtain your consent before we carry out your instructions.
6. REGISTRATION OF DOCUMENTS
   
   We will at all times make arrangements to register documents in your name, unless first instructed to do otherwise, in writing. We will forward all documents proving title to you as soon as practicable. Where a number of documents relating to a series of transactions are involved, we will normally hold each document until the series is complete and then forward them to you. Other than in the circumstances outlined above, the firm will not retain documents of title on your behalf.
7. CLIENT MONEY
   
   WE DO NOT HANDLE CLIENTS MONEY! WE NEVER ACCEPT CHEQUES MADE OUT TO US (UNLESS IT IS A CHEQUE IN SETTLEMENT OF CHARGES OR DISBURSEMENTS FOR WHICH WE HAVE SENT YOU A BILL) OR HANDLE CASH. All cheques for premiums or investment money of any kind must be payable to the Life Office, investment operator, or lender.
8. TERM
   
   These Terms of Business will take effect from the date upon which they are issued to you and will remain in force until such a time that you are issued with revised terms. You or we may terminate our authority to act on your behalf at any time without notice period or penalty. Notice of termination must be given in writing, and will be without prejudice to the completion of any transactions already initiated. If you specifically require us to cease to deal with transactions which are already in progress, this should be confirmed in writing.
9. INVESTMENT OBJECTIVES
   
   Your independent financial adviser will confirm this understanding of your investment objectives in writing as soon as practicably after these have been ascertained. Such letters will also confirm if there are any restrictions on the type of investment or market in which you wish to invest.
10. INVESTMENT RISK
    
    All investments carry a degree of financial risk which will tend to increase in proportion to the potential rate of return on the investments. Any product which is directly or indirectly invested in assets, which may fall in value (for example equities), may itself fall in value along with any decrease in the value of those assets. Before entering into any investment agreement, you should ensure that you understand the risk associated with the product and are content to accept the level of risk.
11. DATA PROTECTION ACT 1998
    
    In order to advise you properly we must obtain certain information from you about your financial and personal circumstances, in order to assess the suitability of particular products and services. All client information is treated as confidential however, by accepting our Terms of Business you agree that the information which you give us may be disclosed to third parties for the purpose of processing your application. Unless you ask us not to, we may use the information that we hold about you to contact you from time to time by post, fax, e-mail or telephone to bring your attention to additional products or services which may be of interest to you.
    
    We will keep records of all business transactions for at least six years. You have a right to inspect copies of contract notes and entries in our books or computerised records relating to your transactions. We treat all clients` records as confidential, so we reserve the right to give you copies of your particular record, rather than allow access to files which may contain information about other clients.
12. COMPLAINTS
    
    If you should have any complaint about the advice you receive or a product which you have bought, please contact our Compliance Officer, Gary Newton at Chartwell Financial Services Ltd, Lindley Court, Scott Drive, Altrincham, Cheshire, WA15 8AB. Tel: 0161 929 3500.
    
    A copy of our internal complaints handling procedures is available upon request. If you are not satisfied with the outcome of an investigation you may refer your complaint to the Financial Ombudsman Service. (South Quay Plaza, 183 Marsh Wall, London, E14 9SR Tel: 020 7216 0016).
13. PROFESSIONAL INDEMNITY NSURANCE / INVESTORS COMPENSATION SCHEME
    
    We maintain professional indemnity insurance that satisfies the level of cover stipulated by the FSA.
    
    If you make a valid claim against us in respect of investments which we have arranged for you 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 is available from the website. www.fscs.org.uk or alternatively we can send you details at your request.
14. CHANGE OF ADDRESS
    
    If you change address please ensure that you inform us, and the life assurance company or unit trust manager with whom you have invested, in writing, in order that our records can be amended accordingly.