Terms & Conditions

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Collecting information and protecting your privacy

Our aim is to offer advice that helps you plan your financial future. To provide such advice, we need to know about your personal situation and your Adviser may request sensitive and private information about you, for example, your income, current financial arrangements, health, family commitments and any legal proceedings you may be involved in. Much of the information you provide will, as part of your application, be passed to the company whose products you apply for and details of how they use your information are included in their data protection literature.

If you are unable or unwilling to provide some or all of this information, your Adviser will be unable to provide you with advice suitable for your circumstances. We do not collect personal information from third parties.

The Openwork Partnership is committed to protecting your privacy. As we would like you to be a lifetime client, we need to earn your trust and assure you that we will keep your personal information confidential and secure and only for as long as is necessary. The criteria we use to determine how long this period is can be obtained from The Openwork Partnership Data Protection Officer at the address overleaf. We will use it with care and it will only be shared in the ways explained in this leaflet, or if we are required to by Law or the Financial Conduct Authority (FCA).

/p>Your personal information will only be held for as long as necessary and collected for the purposes of providing advice in respect of the range of products and services outlined in the Initial Disclosure Document or Client Proposition Brochure provided by your Adviser. In addition, we will make every effort to ensure that the information you provide is recorded accurately and that it is only passed to companies who comply with the General Data Protection Regulations (GDPR). If it is required to send your information abroad, we will only do so to countries within the European Union (EU) or to a third country that the EU has determined provides an adequate level of protection and where you are able to exercise your rights to access your personal information under the GDPR.

Controlling and using your personal information

A Data Controller is someone who determines the purposes for and the manner in which your personal data should be processed. The Openwork Partnership, its Appointed Representatives (your Adviser) and the companies whose products you buy are all Data Controllers. Your Adviser will have given you their contact details and The Openwork Partnership’s contact details are shown at the end of this leaflet.

We use your information in a variety of ways:

  • To introduce you to a range of products and services offered by the companies we are associated with (or may be associated with in the future).
  • To contact you with details of changes to products you have bought.
  • For business analysis and research.
  • For marketing products and services we think may be suitable for you (if you opt into this service).
  • To comply with the Law and/or FCA requirements.
  • To verify your identity by searching publicly available records held by credit reference agencies.
  • To prevent fraud and money laundering we may pass your details to other companies, public bodies, including the police or to an insurer’s database. Insurance companies can search databases for any relevant information that exists about you.

We therefore process your data because it is necessary for:

  • The performance of a contract to which you are a party.
  • Compliance with legal obligations to which we as the controller are subject.
  • None of the information gathered about you will be used in automatic decision making.
Your health details

If you apply for some types of insurance (eg. life insurance, pensions, sickness etc.) you will be required to provide details of your health. Under the GDPR, this is regarded as sensitive personal data.

Your Adviser will have access to your medical details unless you prefer to complete a medical statement of health in private. If this is the case, please send it with your application marked for the attention of the “Consultant Medical Officer” in a sealed envelope. We do need your explicit consent to collect and process your health details, which of course you may withdraw at any time. To provide this consent, please sign below and provide one copy of this form to your Adviser. Signing this form will also indicate that you have read and understood the provisions set out.

Mortgage credit checking

If you apply for a mortgage your information will be passed to the lender who will carry out a credit check. You will also have to provide details of any criminal convictions you may have had. These details will be passed to the lender to carry out any necessary checks.

Marketing and sharing your information

The information you give us will be added to any other details we hold about you. The Openwork Partnership will never sell your details to a third party, but we will share your information with any product provider whose products we recommend to you. We will collect your marketing preferences from you as part of providing you with advice. We may have to pass your details to another Adviser if, for example your Adviser is ill or you need advice in a different product area. If your Adviser leaves we may pass your details to another Adviser so that we can continue to provide you with a high standard of service. We may send your information to third parties that are carrying out work on our behalf.

Your Data Protection rights
You have certain rights under the GDPR. These include the right to:

  • Ask for a free copy of your personal information in a portable format.
  • Stop us sending you marketing material about products and services.
  • Have any incorrect information we hold about you corrected.
  • Ask us to restrict processing of your personal data.

As the processing of your personal information is necessary for a legal obligation placed upon us by the FCA and may be required for the establishment, exercise or defence of legal claims, we will not be able to permanently delete your personal information until the end of the period we have deemed necessary.

How to get more information

If you would like further details on how we use your personal information or if you have any data protection queries, please write to:

The Data Protection Officer

The Openwork Partnership

Auckland House

Lydiard Fields

Swindon SN5 8UB

You may receive more information about data protection from the companies that we have introduced you to. We may record telephone calls so we can check we have acted on your instructions correctly and to ensure we are giving you appropriate service. We may also monitor calls for security and training purposes.

Complaints

If you have any complaints about the way we or your Adviser have handled your personal information, please contact the Data Protection Officer at the address given above.

You also have the right to refer your complaint to the Information Commissioner.

Supporting our clients

We understand that from time to time our clients may find themselves dealing with circumstances which could mean they are potentially vulnerable. For example, a change in health, caring for a family member or coping with the loss of a loved one. There are many different types of vulnerability, and what makes one person vulnerable might not affect someone else. When we are vulnerable, our need for financial advice may change. However, admitting vulnerability or seeking help can sometimes feel hard.

If this is something you would like to discuss with your adviser, please ask for a copy of our support guide. This guide is designed to help explain vulnerability and the ways in which we might be able to support you. If you feel any of the circumstances in the brochure apply to you, please talk to us.

We are part of The Openwork Partnership
Together, we are always by your side

The Openwork Partnership is one of UK’s largest and longestestablished financial advice and investment companies. Through many changes and challenges we have been a constant presence for over 45 years. We have served over two generations of clients and together seen a lot of change. Every firm is individual and distinct, yet we share values and standards with each other - for the benefit of our clients.

As a Partnership we work together to:

  • Make sure we work to the highest standards of compliance and regulation.
  • Fully research the financial products available and work with product providers to secure the best solutions for our clients.
  • Access correct training and professional development.
  • Sustain quality standards in the advice we give our clients.

To maintain these high standards, The Openwork Partnership may contact you directly to you ensure your satisfaction and ask for your feedback.

We are proud of the personal difference we can make helping our clients and their families look forward to a better future with confidence and optimism.

Mortgages

Whose products do we offer
Mortgages

We offer a comprehensive range of products from across the market but not deals that you can only obtain by going direct to a lender.

Second Charges Mortgages

If you are purchasing a property with the help of a shared equity loan, our advice will also cover the shared equity second charge. However, we do not advise on any other second charge mortgages. If you need a second charge mortgage we will refer you to a master broker for second charges, who will be able to advise you.

Which service will we provide you with?

We will advise and make a recommendation for you on a first charge mortgage after we have assessed your needs. You may request an illustration from us for any regulated mortgage contract we are able to recommend you whenever we provide you with infomation specific to the amount you want to borrow following assessment of your needs and circumstances.

Alternative finance options

If you are looking to increase borrowing secured on a property that you already have a mortgage on, the following alternative finance options may be available and may be more appropriate:

  • A further Advance from your existing lender
  • A Second Charge
  • An unsecured Loan

The Openwork Partnership does not offer advice on Unsecured Lending or Second Charges.

What will you have to pay us for our services?

A fee of a maximum of 1% of the loan amount may be payable after initial consultation. For example on a £100,000 mortgage, this would equate to a fee of £1,000. We will also receive commission from the lender.

If you'd like to know the range of commission payable from our lenders, please ask me for a list. You will receive an illustration when considering a particular mortgage, which will tell you about any fees relating to it. It is important that you read and understand the illustration.

Our refund policy for mortgage fees

If we charge you a fee and your mortgage does not go ahead, you will receive:

No refund, if you decide not to proceed with the purchase.

Insurance

Whose products do we recommend

We can only advise on products from a limited number of insurers for life assurance, critical illness cover, income protection, household insurance, accident, sickness and unemployment insurance and cash lump sum accident protection.

Please see the Insurance Proposition Summary leaflet for details of the insurers we offer insurance products from.

Which service will we provide you with?

We are an insurance intermediary representing you, not any insurer. We will provide you with a personal recommendation after we have assessed your needs, limited to the insurance products available to us, as shown in the Insurance Proposition Summary leaflet.

What will you have to pay us for our services?

We arrange the policy with the insurer on your behalf, you do not pay us a fee for doing this. We receive commission from the insurer which is a percentage of the total annual premium. This means that if you purchase one of these products we will receive commission in addition to any adviser charges/ fees you may have been or will be paying The Openwork Partnership for investment-related services. The amount of commission will be disclosed separately should you purchase one of these protection products.

You will receive a quotation which will tell you about any fees relating to any particular insurance policy.

Buy to Let

A Buy to Let mortgage taken out for the purpose of business is not regulated by the Financial Conduct Authority (FCA).

Who regulates us?

Wise is a trading name of Prosperity Financial Services Limited, which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited, Auckland House, Lydiard Fields, Swindon, SN5 8UB, which is authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN. Openwork Limited’s Financial Services Register number is 408285. Openwork Limited’s permitted business is advising on and arranging mortgages, general and pure protection insurance and life insurance, pensions and investments. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/f rms/systemsreporting/ register or by contacting the FCA on 0800 111 6768.

What to do if you have a complaint

If you wish to register a complaint, please contact us:

. . . in writing

Write to: Complaints Management Team,

The Openwork Partnership, Auckland House,

Lydiard Fields, Swindon, SN5 8UB.

. . . by phone

Telephone: 03454 508508

Information about our internal complaints handling procedures is available free of charge, on request from the Complaints Management Team.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. Ask us for a leaflet or contact the Financial Ombudsman Service at:

The Financial Ombudsman Service

Exchange Tower

Harbour Exchange Square

London, E14 9SR

Phone: 0800 023 4567 or 0300 123 9123

Email: enquiries@financial-ombudsman.org.uk

Website: www.financial-ombudsman.org.uk

Financial Services Compensation Scheme

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.

Insurance

Insurance advising and arranging is for 90% of the claim, without any upper limit.

Mortgages

Mortgage advising and arranging is covered up to a maximum limit of £85,000. Further information about compensation scheme arrangements is available from the FSCS.