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Before we start

Is our advice service right for you?

This advice service is for people seeking effective and low cost investment management of their disposable income and/or capital. This service does not offer a holistic assessment of your financial situation or take into account any existing investments that you may hold.

This service offers investment through General Investment Accounts (GIAs) and Individual Savings Accounts (ISAs). If you are employed, your employer will offer a workplace pension. This could be a better way to save for many people. Pensions and ISAs have different advantages depending on your circumstances. If you wish to apply for a regulated pension product, you cannot do so via this service and should contact us.

Unless an Ethical Investment Solution has been selected, our investment managers have the flexibility to invest in a wide range of potential investments which are unconstrained by ethical criteria. If this concerns you, please contact us.

This service does not consider suitability with any existing investments you may already have. If you are unsure or if you would like existing investments taken into account, please contact us.

Before committing to any investment you should be happy that your priority needs have been met. This means you should ensure that:

  • You have adequate access to liquid cash - typically a minimum of 3 months' essential expenditure.
  • You have adequate and appropriate financial protection for you and your family. This may include ensuring that any mortgage is repaid on death or serious illness, or that you have replacement income should you be unable to work.
  • You do not have existing debts that would be better repaid or reduced - we typically suggest that debts are repaid before you invest.

If you have any doubt whether your priority needs have been met, please contact us.

The return you hope to achieve from your investment is, to a large extent, determined by the risk that you choose to take. Risk is an unavoidable component of investing in stock market linked investments. Before proceeding you should accept and agree that your investment may go down as well as up.

We encourage you to answer as accurately as possible to get the best from the final investment recommendation.

Key facts about our service, costs and terms of business

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Client Agreement for Streamlined Automated Advice

This is our terms of engagement upon which we intend to rely. For your own benefit and protection, you should read these terms carefully. If you do not understand any points, please contact us for further information. Your use of our service will confirm your acceptance of the terms highlighted in this agreement.

Authorisation Statement
AKORN Nest Egg is a trading style of AKORN Financial Advice Ltd which is Authorised and Regulated by the Financial Conduct Authority under the registration number 846158. The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check our authorisation and permitted activities on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA.

Our services
This streamlined automated advice process has been designed for investors wishing to invest in an Individual Savings Account (ISA) and or General Investment Account (GIA) and is typically designed for lump sums of less than £50,000 and/or regular investments of as low as £50pm. You will answer a range of questions in relation to the appropriateness of an ISA and/or GIA and your attitude towards investment risk and capacity for loss. Following this the system will then provide you with a personal recommendation, unless it identifies further information is needed from you to determine the suitability of that recommendation. It will then be your decision to proceed.

If, however you are unsure as to the suitability based on the information you have provided, you can stop the process at any time and contact us for a full review of your personal and financial circumstances.

Investment Risk
You should be aware that investments carry varying degrees of risk and their underlying value can fall as well as rise. As a result you may not get back the full amount invested, especially if you withdraw your funds in the early years.

How we are remunerated

We charge one fee to cover the provision of the product and the continuous suitability assessment of the recommendations on an annual basis.

For this we charge 0.75%pa of the funds invested. Our fee will be collected through the provider/platform after you have made payment to them

For example, if you invest £1,000 then our annual fee is £7.50 pa.
Please note that as part of the fee is based on a percentage of the investment value, as this value rises, then the fees for this service will increase, conversely, if the value of your investments falls, the cost of this service will decrease.

Our Ethical Policy
We are committed to providing the highest standard of financial service possible. The interest of our clients is paramount to us and to achieve this we have designed our systems and procedures to place you at the heart of our business. In doing so, we will:
• be open, honest and transparent in the way we deal with you;
• not place our interests above yours;
• communicate clearly, promptly and without jargon;
• ensure our dealings with you meet your expectations.

Cancellation rights
Should you decide to invest but then subsequently change your mind, you have the right of a 14 day cancellation period. This means no product or service charges will be applied, however, you may not receive back the full investment if your fund has reduced due to market movements.

Material Interest
We will act honestly, fairly and professionally known as conducting business in ‘client’s best interest’ regulations. Should any conflict of interest arise we will notify you of these.

Complaints
If you wish to register a complaint, please write to AKORN Financial Advice Ltd. Innovation Centre, 1 Evolution Park, Haslingden Road, Blackburn, BB1 2FD, telephone 01254 584330 or e-mail angelo@akornfa.co.uk.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.

Compensation Scheme
If you make a complaint and we are unable to meet our liabilities, you may be entitled to compensation from the Financial Services Compensation Scheme. Investment business will normally be covered up to a maximum of £85,000.

Further information about these amounts and limits for all other product types are available from the FSCS at http://www.fscs.org.uk/what-we-cover/products

Anti-money laundering
We are required by the anti-money laundering regulations to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning.

Law
This client agreement is governed and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts.

Force Majeure
AKORN Financial Advice Ltd shall not be in breach of this Agreement and shall not incur any liability to you if there is any failure to perform its duties due to any circumstances reasonably beyond its control.

Termination
The authority to act on your behalf 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. Any transactions effected before termination and a due proportion of any period charges for services shall be settled to that date.