KEYFACTS
About our services
Options
Strathclyde
2nd
Floor,
90
Main Street
Rutherglen
Glasgow
G73
2HZ
1. The Financial Services Authority (FSA)
The
FSA is the independent Watchdog that regulates financial services. It requires us to give you this document. Please use this
information to decide if our services are right for you.
2. What products do we offer?
Investments
We
select products from the whole market
Mortgages
We
select Mortgages from the whole market
Lifetime Mortgages and home reversion schemes
We
do not advise on Lifetime mortgages and home reversion schemes, but can introduce you to another Appointed Representative
of Personal Touch Financial Services Ltd, who will be able to select products from the whole market.
Insurance
We
select products from a range of Insurers for Life, Critical Illness Insurance, Permanent Health Insurance and Private
Medical Insurance.
We
only deal with products from a limited number of insurers for Accident Sickness and Unemployment, Domestic and Commercial
Buildings and Contents. Ask us for a list of insurers and products we offer insurance from.
3. Which services will we provide with you?
Investment
We will advise and make
Mortgage
recommendations for you after
Insurance
we have assessed your need
4. What will you have to pay for our services?
Investments
Before
providing you with advice, we will give you our key facts guide to the cost of our services.
Pure Protection Products
No
fee will be charged
All other General Insurance
No
fee will be charged
You
will receive a quotation, which will tell you about any other fees relating to any particular insurance policy.
Morgages, lifetime mortgages and home reversion schemes
No fee will be charged.
We will however be paid commission by the lender.
We will charge you
Fees as detailed below as well as receiving commission from the lender on completion of the mortgage.
We will charge you
Fees as detailed below and will rebate commission received from the lender.
Fixed Fees
We
will charge the fixed fees as follows:
Initial
Personal Financial Review - Free
Extensive
Product Research - Free
Presentation
and Recommendation Visit - Free
Processing
of application - Free
Suitability
Report detailing your current situation and suitable recommendations - Free
Charge
for additional work required for non-conforming mortgages - Total £,1000
Where we intend to charge a fee for the services detailed above or
rebate commission we will confirm this to you in advance by written agreement.
If
we charge you a fee, and your mortgage does not go ahead you will receive:
No
Fee is payable until completion
You
will receive a key facts illustration when considering a particular mortgage which will tell you any fees relating to it.
Who regulates us?
Options
Strathclyde is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated
by the Financial Services Authority. Personal Touch Financial Services Ltd Register number is 187834.
Personal
Touch Financial Services Ltd is permitted to advise on and arrange transactions in Investment and Pension policies, mortgages,
liftime mortgages and general insurance.
You
can now check this on the FSA's Register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 6061234.
Home
Reversion Schemes are not regulated by the FSA.
6. What to do if you have a complaint
If
you wish to register a complaint, please contact:
In
Writing - The Compliance Manager, Personal Touch Financial Services Ltd, Cheshire House, High Street, Knowle, B93
0LL
By
Phone - 0870 990 8512
If
you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. The Financial
Ombudsman Service does not consider complaints about home reversion schemes.
7. Are you covered by the Financial Services Compensation Scheme (FSCS)?
We
are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends
on the type of business and the circumstances of the claim.
Investment
Most
types of investment business are covered for 100 per cent of the first £30,000 and 90 per cent of the next £20,000 so
maximum compensation if £48,000.
Insurance
Insurance
advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.
Mortgages, Lifetime mortgages and home reversion schemes
Mortgage
advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is
£48,000. Home reversion schemes are not covered by the FSCS.
Further
information about compensation scheme arrangements is available from the FSCS.
8. Terms of Business
Instructions:
If at any time you wish to give us instructions relating to any form of business, or alternatively, if you wish to
terminate our business relationship, please inform us in writing, as this will ensure that no confusion arises between us.
We will however, accept oral instructions, which we will then confirm to you in writing. Written instructions to terminate
our business relationship may be given to us at any time without penalty by either party.
Records:
We shall supply on demand to you copies of contract notes and any other evidence of transactions together with copies
of any relevant records retained in respect of you, which are kept manually or electronically. You may inspect, during business
hours and having given us reasonable notice of your wish to do so, records retained in respect of you. We undertake to maintain
such records for a period of 6 years from the date of each transaction.
Client Money
WE DO NOT HANDLE CLIENT MONEY
We never handle cash and will not accept a cheque made out to us (unless it is a cheque in settlement
of broker fees for which we have sent you an invoice)
Registration
of Business Documents of Title: Will register all business in your name unless otherwise agreed in writing. All contract
notes and documentation of title in respect of your financial transactions will be forwarded to you as soon as practical after
we receive them. Where a number of documents relating to a series of transactions are involved the number of documents will
normally be retained by us until the series is complete. All documents will be immediately logged in a register when received
or issued.
Professional
Indemnity Insurance: We confirm that we maintain professional Indemnity Insurance for your protection in event of
negligence.
Conflict
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 customers conflict with your interest, we will inform you and obtain your consent before we carry out
your instructions.
Data
Provision Act: The personal and financial information provided will be used in assisting your independent financial
adviser in offering you the best advice as required by the Financial Services and Markets Act 2000. The personal data provided
will be stored and used in accordance with the Data Protection Act 1998.
Data
Subject Access Request - under the act, we will not pass on your personal data to any other companies without your
consent unless in relation to your Financial Planning application or requirement of law.
You
have a right to have access to all information, which Personal Touch Financial Services Ltd hold regarding yourselves, to
receive this information a written request must be received including a £10 fee made payable to Personal Touch Financial Services
Ltd.
