Introduction

Vantage Limited (Vantage) is authorised and regulated by the Jersey Financial Services Commission (JFSC) under the Financial Services (Jersey) law 1998.

Our Services

Vantage provides advice and services in the following areas:

  • Private Client Financial Planning
  • Corporate & Fiduciary Financial Planning
  • International Financial Planning

Vantage will complete an initial fact finding meeting to ascertain which of our services may be most suitable for you or your organisation. This meeting is provided free of charge. During this meeting we will describe our services in detail and explain our fee structure, as well as your payment options.

In certain cases the complexities and variation of requirements may require us to offer a more tailored service agreement and bespoke fee proposal designed for your specific requirements. We will agree in advance the most suitable service level and fee structure following our initial meeting.

If you decide to use our services then we will use objective and financial information provided by you in relation to you or your clients circumstances, to recommend or advise an appropriate solution for your particular requirement. As part of the service agreement we will prepare a formal report based on your specific requirements.

Our solutions include, but are not exclusively limited to, advice both on the provision of existing or new financial arrangements such as:

  • Investments Collective Funds, Investment.
  • Platforms and Discretionary Investment Managers.
  • Retirement Annuity Trusts, Self-Invested Pension Companies, Corporate Schemes and international transfers (QROPS), state schemes that may allow you to participate based on historic rights.
  • Financial Protection Individual, Trustee, key-man and group financial protection arrangements.

Vantage aim to provide a holistic financial planning service although appreciate that you may wish to act purely in a restricted area of our services, such as retirement planning only. This would therefore be reflected within our final report and subsequent recommendations.

The Jersey Financial Services Commission

Vantage is authorised and regulated by the JFSC for the conduct of Investment Business, under the Financial Services (Jersey) law 1998. Our IB License Number is IB0250. The JFSC website is www. jerseyfsc.org and their address is PO Box 267, 14-18 Castle Street, St Helier, Jersey JE4 8TP.

Fees

All fees and charges payable will be discussed and confirmed in writing to you by way of our client service proposition, fee proposal or suitability letter. We will not charge you for any advice until you have signed and agreed how we are to be paid. All charges are subject to review and may change from time to time.

Ongoing Services and Regular Reviews

As a minimum we will write to all clients and offer an annual opportunity to join us in reviewing their financial planning objectives and existing arrangements.

Treating Customers Fairly

Vantage appreciate that any financial planning should provide both peace of mind and ensure that you receive value for money. We believe in forging long term relationships with our clients.We will ensure communications are clear, fair and not misleading. We will always seek to be accountable, use integrity and impartiality whilst building a trusting relationship with our clients and we expect the same from our clients in return.

Switching Funds and Administrative Instructions

If you wish us to switch investment funds within your portfolio then we will require you to give us instructions in writing. This can be in the form of a letter, email, facsimile. You must agree and approve that the switch instruction fits with your risk reward attitude. Fund switching within some products is free and unlimited, however, we reserve the right to charge a switch fee if switches exceed more than 5 fund switches per annum.

Ownership and Custody of Assets

  • All investments will be registered in your name or in the name of your appointed Trustee or Director.
  • We do not hold client cash or any investment product in any of the directors personal names or in the name of the company, Vantage.
  • We do not hold custody of assets but we may recommend product providers that can offer this service. Therefore, we do not accept client cheques made payable to us except in settlement of charges for fees.
  • We will forward you the policy, contract note or other documents showing ownership of your financial arrangement as soon as practicable, after we receive them from the issuing company.

Pension Investments

  • In the case of a RTS or other pension trusts the assets will be registered and held in the name of the pension trustee; in the case of SIPPs the assets may be registered in the name of the corporate entity.

Termination of Contract

Either Vantage or you may terminate the Contract entered into between us by either party giving to the other party three months notice of such termination in writing in which event:

the Contract shall automatically terminate at the end of such three month period;

in the case that your Contract with Vantage is to provide investment advice then your obligation to pay investment advisory fees to Vantage pursuant to the terms of the Contract shall continue to be due and payable during the aforesaid three month notice period.

Reclaim of Financial Protection Fees

In the event that Vantage suffers a claw back of fees paid by a provider for the arrangement of financial protection products and which have been rebated either in full, or in part to the client, Trustee or Director, we will seek to reclaim the rebated fees on a pro rata basis, as set out in our returned fee agreement.

Complaints Procedure

We always aim to give the highest quality of service to our clients. However, if you should have reason to make a complaint against us, we will implement our internal complaints procedure and will endeavour to resolve the issue to your satisfaction as soon as possible. Complaints in the first instance should be made in writing to: Investment Business Department, Vantage Limited, PO Box 420, No.4 The Forum, Grenville Street, St Helier, Jersey, JE4 0WQ.

We will acknowledge the complaint within 2 working days and wherever possible conclude the matter within 30 days. In the event that this is not possible, we will regularly advise you of the progress of the investigation. Upon completion of any investigations we will inform you, in writing, of the reason for any decision made and any redress offered should this be felt appropriate. If you consider that our final decision does not fully address your complaint, and if you are an individual consumer or micro-enterprise, whether resident in the Channel Islands or elsewhere you can refer your concerns to the Channel Islands Financial Ombudsman (CIFO). If you want to contact the CIFO about your complaint, you will need to do this within six months from the date of our final response or they may be unable to review your complaint.

In addition, you must also contact CIFO within 6 years of the event complained about or, 2 years after you should have become aware of the cause for complaint.

The complaint must relate to an act that occurred on or after 1 January 2010. You can contact the CIFO at:

Channel Islands Financial Ombudsman, PO Box 114, Jersey, Channel Islands, JE4 9QG.

In any event, if a complaint remains unresolved for 90 days we are under a duty to report this to the Jersey Financial Services Commission ourselves.

Applicable Law: In the absence of any indication to the contrary Jersey Law will apply.

Data Protection

We are registered under the Data Protection (Jersey) Law 2005. It is understood that we keep personal and financial information with regard to your circumstances on file (electronic and / or paper based) as required to be able to advise you as to your financial planning needs. We confirm this information will not be used or transferred by us to any other firm or company, other than is required in the processing of business.

We confirm that we cannot be held responsible for the information held on your file becoming inaccurate due to your change of circumstances if you fail to inform us of those changes.

Where certain business services are provided to Vantage by third parties then circumstances may arise which warrant the disclosure of more than just your basic contact details. On these occasions such as processing business and obtaining compliance and regulatory advice, you agree that personal information held by ourselves may be disclosed on a confidential basis, and in accordance with the Data Protection (Jersey) Law 2005 to such third parties. You agree that this information may be transferred electronically e.g. by e-mail. You also agree that we or any such company may contact you in the future by any means of communication which we consider appropriate at the time.

We keep records of our business transactions for a minimum of ten years. We reserve the right to amend these terms at our discretion where changes in regulation, law etc. necessitate this.

Collection of Sensitive Data under the Data Protection (Jersey) Law 2005

Where we and / or product providers require certain sensitive personal information from you, it may be necessary for us to retain such information. This may be required, for example, in connection with underwriting risk for life or health insurance. Examples of such sensitive information may be racial, ethnic origin, sexual orientation, physical or mental health condition, political, religious or other opinions or beliefs, trade union membership, criminal proceedings or convictions. Where you require us to advise and / or arrange such protection you accept that this information will be retained by ourselves and that by signing these terms of business you explicitly consent to such information being retained.

Call Recording

We reserve the rights to record calls to and from Vantage Limited for monitoring or training purposes and take the opportunity to inform you of this in line with the Codes of Practice for Investment Business.

Risk Warnings

Investments of any kind have risks attached. World events can have catastrophic effects on what some may consider to be viewed as even the lowest risk investment products. We would also bring to your attention the following:

  • Past performance is not necessarily a guide to future performance.
  • The value of your investments can rise and fall.
  • You may not get back the amount you originally invested.
  • Income received from your investments may rise and fall and may not be guaranteed.
  • Taxation rates and tax reliefs can change over time.
  • Some funds, such as emerging markets, commodities, hedge funds and funds that hold other currencies other than sterling can offer even greater risks to your capital. They also may deal infrequently and may delay redemption.
  • Your risk reward attitude may change with market sentiment or change in personal circumstances, therefore you must inform us of these changes immediately and arrange a review of your investments.
  • Failure to disclose any personal health information on applications for life or critical illness insurance policies can result in nonpayment of benefits.

Law & Language

Where applicable, our dealings with you shall be governed by the law of the Bailiwick of Jersey. All information, terms and conditions, policy documents and communications shall be written in English.

Customer Due Diligence

In order to comply with the relevant laws and regulations on anti-money laundering and countering the financing of terrorism we are obliged to undertake certain customer due diligence (CDD). This requires, inter alia, the verification of client identity and address.

As such you will be requested to provide documents or copies of original documents to us, including items such as your passport, driving licence, utility bill, etc.

The requirements also state we must be satisfied in respect of the source of wealth and / or source of funds. By signing these terms of business you agree to supply any and all required CDD information requested by ourselves. Failure to provide all such requested documentation will mean we will be unable to provide our services to you.

In the case of higher risk clients, such as politically exposed persons or non-Jersey domiciled or resident clients we reserve the right to request and collect any necessary enhanced due diligence information and / or the completion of additional forms (for example to comply with FATCA regulations for US persons).

Client Classification

Each private individual with whom we conduct business is categorised as to identify the level of regulatory protection. We propose to classify you as a Retail Client for investment purposes, unless otherwise formally agreed and confirmed in writing.

Professional Indemnity

Vantage maintains Professional Indemnity Insurance as required by the JFSC.