Client Agreement


This agreement sets out the terms under which we'll provide our services to you, so it's important that you read it fully and in conjunction with our Client Agreement (what we do and how we charge) document. If there is something you don't understand please ask us to explain it.

If you have a question or concern about any aspect of our services please contact us at:
Telephone: 0116 299 3000
In writing: PSA (Financial Services) Ltd, 1 The Parade, Needham Avenue, Glen Parva, Leicester, LE2 9JW


This agreement sets out our respective obligations and should be read in conjunction with the information in our Client Agreement (what we do and how we charge) which has also been provided to you.

Section 4 (Useful information about our services) includes details of the protections available to you under UK financial services regulation. The services we have agreed to provide and the cost for those services are shown in section 5 (Services agreed).

1. Our obligations

Our recommendations

  • Before providing advice we’ll assess your needs, consider your financial objectives and assess your attitude to any risks that may be involved. If you don’t want to discuss a particular area of financial planning and that area should not form part of the advice given, we can exclude it, if you instruct us to do so. This might of course have a bearing on the advice that might have been given.

  • Before making any recommendations, we will carry out a suitability assessment so that we are able to act in your best interests.

  • We will confirm any recommendations we make in writing (our suitability report) together with details of any special risks that may be associated with the products or investment strategies we have recommended.

  • Where we agree to provide you with a service that includes an ongoing review of the suitability of the investments we have recommended, we will carry out this review at least annually. To do this we will need to make contact with you to assess whether the information we hold about you remains accurate and up to date. We will issue you with a report setting out the results of our assessment and, if relevant, any updated recommendations.

  • Please be aware that investments can fall, as well as rise, and that you may not get back the full amount invested. The price of investments we may recommend may depend on fluctuations in the financial markets, or other economic factors, which are outside our control. Past performance is not necessarily a guide to future performance. Specific warnings relevant to the investments, investment strategies or other products we arrange are provided in the relevant product literature provided.

  • We may where appropriate, recommend holding some, or all of your investments with a discretionary fund manager (DFM), a professional investment manager appointed to monitor your portfolio and make investment decisions on your behalf. In such cases we’ll explain the respective responsibilities of ourselves and the DFM in relation to your investments.

  • We may occasionally recommend investments that are not readily realisable. We’ll only do this where appropriate but, if we do, we’ll draw your attention to the risks associated with the investments in our suitability report. There is a restricted market for such investments and in some circumstances it may not be possible to deal in the investment or obtain reliable information about its value.

  • We may take into account your expertise as a professional client when complying with the requirements to provide you with a general description of the nature and risks of particular transactions.

  • We are entitled to assume that in relation to the products, transactions and services for which you are categorised as a professional client, you have the necessary level of experience and knowledge to understand the risks involved, for the purposes of assessing suitability.

By signing this agreement you consent to communication of this information by this method.

Financial crime

  • We are obliged to put in place controls to prevent our business from being used for money laundering and other forms of financial crime.

  • We’ll verify your identity before undertaking any business with you. To do this 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. The check may leave a ‘footprint’ on your credit file but it will not affect your credit rating.

Best execution

  • Where we send investment applications on your behalf to third parties (e.g. to put an investment into force), we will take all sufficient steps to ensure that we obtain the best possible result for you. This is referred to as ‘best execution’.

  • We have a best execution policy. If you want to see a copy of it please ask us.


Conflicts of interest

  • Although we’ll always try to act in your best interests there may be situations where we or one of our other clients has some form of interest in the business being transacted for you. If this happens or we become aware that our interests or those of one of our other clients conflict with your own interests, we’ll write to you and ask for your consent to proceed before we carry out any business for you. We’ll also let you know the steps we’ll take to make sure you are treated fairly.

  • We have a conflicts of interest policy. If you want to see a copy of it please ask us.


Protecting personal information

  • To provide our services properly we’ll need to collect information on your personal and financial circumstances. We take privacy seriously and will only use personal information to deliver our services. For further details on how we process personal data, please refer to Appendix A at the foot of this document.


Communicating with you

  • Our normal ways of communicating with you are by telephone, post, e-mail, SMS text message or in person. Our communications will be in English.

  • We may ask you to confirm your instructions to us in writing as this helps to avoid any future misunderstandings.

2.Your obligations

This section sets out your obligations in agreeing to receive our services.


Providing information about your circumstances

  • Our advice will be based on the information that you give so it’s important that you provide us with accurate and up to date information when we request details about your circumstances and objectives. This will allow us to provide you with suitable advice. If you limit the information provided it could affect the suitability of the advice we give.


Payment for services

  • By signing this agreement you are agreeing to pay the charges for our services as set out in section 5 (Services agreed). Your selected payment method is also confirmed in section 5. We’ll tell you if any payments are subject to VAT.

  • Our initial charges are payable once we have completed our agreed work and must be settled within 28 business days.

  • If you are paying our initial charges by instalment (only applies when you have taken out a regular contribution contract) it’s important that you make payments as agreed. Where you miss a payment, or cancel the contract from where the payments are coming from we will send an invoice for the full amount due which must be paid within 28 business days.

  • In some limited circumstances (for protection planning business only) we may receive a commission payment from a product provider. Typically, the commission payment will be offset against the charges you owe us for our services. If the commission payment relates to a regular contribution policy and you stop paying premiums on that policy we may be obliged to refund the commission received back to the policy provider. In such cases, we reserve the right to request the full payment of any outstanding balance of charges for our services.

  • Any products we have arranged for you will only be kept under review as part of an ongoing service for which have agreed to pay. Our ongoing services are optional, but if you agree to purchase an ongoing service, unless otherwise agreed, the ongoing service will be provided as a follow up to the initial service.

  • Our charges for ongoing services will start on the first annual review meeting or monthly if taken as a % of funds under management. Our charges are payable within 28 business days of the end of the relevant period.

  • Ongoing services can be cancelled at any time by informing us in writing (see section 3 – Cancellation and amendments) but please note that we do reserve the right to charge you for services we have provided before cancellation.

  • Where our charges are based on a % of your investments, the amount of our ongoing charges may increase as the size of your fund grows or reduces.

  • In some circumstances we may receive ongoing payments (commission) from product providers relating to existing investments you hold. Such payments may be taken into account when determining the charges for ongoing services. We’ll discuss and agree this with you where relevant.      


Legal and accounting advice

  • We are not qualified to provide legal or accounting advice or to prepare any legal or accounting documents. This means that the onus is on you to refer any point of law or accountancy that may arise during the course of discussions with us, to a solicitor or accountant.

3. Cancellation and amendments

Ending this agreement

  • We may terminate this agreement by giving you at least 20 days business days’ written notice.

  • You or we may terminate this agreement at any time, without penalty.

  • Notice of termination must be given in writing and will take effect from the date of receipt.

  • Any transactions already initiated will be completed according to this agreement unless otherwise agreed in writing.

  • You will be liable to pay for any services we have provided before cancellation and any outstanding fees, if applicable.



  • From time to time it may be necessary to amend the terms set out in this agreement where it is not necessary to issue a new agreement. If this is the case we’ll write to you with details of the changes at least 28 business days before they are due to take effect.


Product cancellation rights

  • Full details of any financial products we recommend to you will be provided in the relevant product information you will receive. This will include information about any product cancellation rights along with any other early termination rights and penalties.

4. Useful information about our services

Who authorises us to advise you?

  • We are authorised and regulated by the Financial Conduct Authority (FCA), 12 Endeavour Square, Stratford, London, E20 1JN. Our firm reference number is 231108.

  • Our permitted business is advising on and arranging [pensions, savings and investment products, non-investment insurance contracts and mortgages].

  • You can check our details on the Financial Services Register by visiting the FCA’s website or by contacting the FCA on 0800 111 6768.

  • Unless we tell you otherwise, we’ll treat you as a retail client for investment business. This means that you are given the highest level of protection available under the UK’s regulatory system.


What if things go wrong?

  • If you are unhappy with our advice or any aspect of our services, we encourage you to contact us as soon as possible. We will do our best to resolve your concerns.
    Telephone: 0116 299 3000
    In writing: Paul Smith, PSA (Financial Services) Ltd., 1 The Parade, Needham Avenue, Glen Parva, Leicester, LE2 9JW


  • We have a complaints procedure and we can provide further details on request. If you do have a complaint, and you are not happy with our response, the Financial Ombudsman Service (FOS) may be able to help. The FOS settles disputes between financial services business and their clients. Full details are available at

  • If your complaint relates to products or services bought from us online, or by other electronic mean such as email, you may refer your complaint to the online dispute resolution (ODR) platform at hhtp.//


Additional peace of mind

  • The Financial Services Compensation Scheme (FSCS) is the UK’s statutory compensation fund for customers of authorised financial services firms who are unable to pay claims against them, usually because they have gone out of business.

  • You may be able to claim compensation from the FSCS if we can’t meet our obligations. The amount of compensation available will depend on the type of business and the circumstances of the claim. We can provide more specific information on request, but as a guide:

  • Investments - eligible claims related to most types of investment business are covered for 100% of a claim up to a maximum of £85,000 per person per firm.

  • Insurance - in the majority of cases, eligible claims about the advising and arranging of protection products are covered for 90% of the claim, without any upper limit.

  • Further information is available from the FSCS at

Benefits we may receive

  • Under the rules of our regulator, the FCA, as a firm providing independent advice we are unable to accept or retain payments or benefits from other firms (e.g. product providers) as this would conflict with our independent status.

  • From time to time we may attend training events funded and /or delivered by product providers, fund managers and investment platforms. These events are designed to enhance our knowledge and ultimately therefore enhance the quality of service we provide to our clients. Please ask us if you want further details.

5. Services agreed


6. Declaration

  • I/We acknowledge that the client agreement will come into effect once it has been signed by all parties and will remain in force until terminated.
    This agreement is governed, and shall be interpreted in accordance with English law and both parties shall submit to the exclusive jurisdiction of the English Courts.

Appendix A – Protecting your personal information

  • To provide our services properly we’ll need to collect information about your personal and financial circumstances. We take your privacy seriously and will only use your personal information to deliver our services. 

  • Processing of your personal data is necessary for the performance of our contract for services with you. and in meeting our obligations to preventing money laundering or terrorist financing. Generally, this is the lawful basis on which we intend to rely for the processing of your data. (Please see the reference to special categories of data below). Our policy is to gather and process only that personal data which is necessary for us to conduct our services appropriately with you and to prevent money laundering or terrorist financing.

  • We adopt a transparent approach to the processing of your personal data. Sometimes, we may need to pass your personal information to other organisations. If you apply to take out a financial product or service we’ll need to pass certain personal details to the product or service provider.

  • We may engage the services of third party providers of professional services in order to enhance the service we provide to you. These parties may also need to process your personal data in the performance of their contract with us. Your personal information may be transferred electronically (e.g. by email or over the internet) and we, or any relevant third party, may contact you in future by what we believe to be the most appropriate means of communication at the time (e.g. telephone/ email /letter etc.).

  • The organisations to whom we may pass your details also have their own obligations to deal with your personal information appropriately. Sometimes a product or service may be administered from a country outside Europe. If this is the case, the firm must put a contract in place to ensure that your information is adequately protected.

  • We will issue you with our Privacy Notice. This is a separate document which provides more information about the nature of our personal data processing activities and includes details of our retention and deletion policies as well as your rights of access to the personal information that we hold on you.

  • As part of this agreement we’ll ask you to consent to the transfer of personal information in accordance with the protections outlined above.

  • Special categories of personal data: there are certain categories of personal data that are sensitive by nature. The categories include: data revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership and data concerning health. Depending on the nature of the products and services that you engage us for we may need to obtain your sensitive personal data particularly in relation to health. Our policy is that should we require any special category of personal data we will only gather this with your explicit consent.

  • If you are concerned about any aspect of our privacy arrangements please speak to us.


Sensitive personal data

The primary basis on which we intend to process your personal data is for the performance of our contract with you. In the case where we need to process special category (sensitive) data as described above we require your consent by indicating your agreement to the following statement:

I / we consent to the processing of sensitive personal data as far as it is necessary for the services I / we require from PSA (Financial Services) Ltd

Please note that you may withdraw this consent at any time by notifying us at our main business address.


We may also engage the services of third party providers of professional services in order to enhance the service we provide to you. These parties may also need to process your personal data in the performance of their contract with us. If you wish to know the names of these third parties please contact us for further information.



From time to time we may wish to contact you to offer additional products or services which may be of interest to you. In order to do this we require your consent by agreeing to one or all of the options:


I / we consent to be contacted for marketing purposes by:

Please note that you may withdraw this consent at any time by notifying us at our main business address.


What we do & how we charge

We are a financial planning business, focused on helping you understand and plan for your financial future. This information is designed to give you an idea of:

  • What we do and how we do it (our services)

  • What it’s likely to cost and how you can pay us

More detailed information is available on our website at


This document provides details about our services to you and how we charge, so it’s important that you read it fully. If there is something you don’t understand please ask us to explain it.

1. Our services

Whatever financial decisions you have to make, the first step towards making the right decisions is to establish a clear understanding of your financial needs.

People seek financial advice for many different reasons so it’s important that we understand exactly who you are and what you want to achieve. At our first meeting we’ll gather information about you to help define your needs and priorities.

Our services include:

  • Financial planning: It’s important to identify what you might want to achieve and how you can do this. We can help you to identify your goals and create a plan for your finances to help you achieve them.

  • Retirement planning: It’s important to know whether the money you are saving towards retirement will provide you with sufficient funds to meet your retirement objectives. We can work with you to proactively plan for your retirement and help you decide on the options available once at retirement.

  • Protection planning: Most of us want to protect the things that are important to us, our family, business and quality of life. Protection planning can help to provide peace of mind in the event of your income changing due to unexpected events. We can help you plan for the best way to protect you, your family or your business.

We’ll only start work once we have agreed our services and charges with you. We’ll give you a copy of our Client Agreement – investment and protection (terms and conditions) which will set out the services we have agreed to provide and confirm how much this will cost.

2. Our advice

We offer independent investment advice.

We offer independent investment advice. This means that we consider a wide range of financial strategies and products. We are constantly reviewing the market to ensure that the services and products we offer are appropriate for our clients.

Where we recommend particular investment strategies and products to you, these will be selected based on your personal circumstances, financial goals and objectives. We’ll consider a number of factors, including the services you need, the cost of investing, how much risk you are prepared to accept in an investment product and how much of a drop in its value you could withstand.


The areas we can advise on include:

  • ·         Open ended investment companies

  • ·         Life Assurance

  • ·         Enterprise investment scheme

  • ·         Phased retirement & income drawdown

  • ·         Unit trusts

  • ·         Structured products, incl. structured deposits

  • ·         Term assurance

  • ·         ISAs

  • ·         

  •           Venture capital trusts

  • ·         Critical illness cover

  • ·         Investment bonds

  • ·         Pensions

  • ·         Income protection

  • ·         Exchange traded funds

  • ·         Annuities

  • ·         Long term care

  • ·         Investment trusts

We don’t provide advice in relation to individual share holdings. If this is something you need assistance with, we can refer you to a stockbroker.

We don’t provide advice on options, futures, non-mainstream pooled investments (Unregulated Collective Investment Schemes) and other derivative contracts as we believe that these are unlikely to be suitable for our clients

For further details please refer to our website:

Where we provide protection planning services we are an insurance intermediary and will provide advice which is based on a fair and personal analysis of the market.

Where we provide investment services we must provide you with certain documents. These may be found on our website at:

3. Our charges

The way we are paid for our services may depend on the type of advice given. Typically, this will be:

·         Investment business: fees agreed and paid by you

·         Insurance business: fees agreed and paid by you or commission payable by the insurance provider, which is a percentage of the total annual premium

More details on these options and how they are paid is found in the following sections on initial and ongoing charges.


Our charges fall into the following categories:

a)       Initial charges: these are the upfront costs of our services. We offer several types of initial service depending on your needs.

b)      Ongoing charges: once your financial plan is in place it is important to keep it under review so it can be adapted, where necessary, as your circumstances change. Our ongoing services are designed to do this.

Our actual charges and fees (in pounds and pence) will be agreed with you before we do any work and we’ll explain your payment options too. We’ll also let you know where any fees are subject to VAT.

Initial Charges

Ongoing charges

Our ongoing services are optional. If you agree to purchase an ongoing service, unless otherwise agreed, the service will be provided as a follow up to the initial service.

Payment options

Ongoing charges can be paid in a number of ways:

·         A regular fee, paid by standing order

·         By deduction from your investment(s) on a monthly, where the product / platform provider or DFM is able to offer this facility

·         For investments held on a platform (an online investment administration service) you may choose to pay our charges out of the funds held in the platform.

·         By cheque



Ongoing charges


Depending on the services we provide, there may be costs and charges (including taxes), not charged by us, but related to the financial products we arrange for you. These charges may be one-off charges (payable up front) or charges payable on an ongoing basis. For example:

·         Service costs: If your investments are held on a platform (an online investment administration service), the platform provider will make a charge for administering / managing your investments.

·         Investment costs: These are the costs relating to the manufacturing and managing of your investments – for example, fees charged by the investment fund manager, costs relating to investment transactions.

·         We’ll always disclose any third-party costs as part of making our recommendations.    

Aggregated costs and charges

Before we provide you with our advice we will add together all the costs and charges payable so that you are able to understand the overall costs of our services and recommendations. This is referred to as aggregated costs and charges information. 

PSA (Financial Services) Ltd

1 The Parade, Needham Avenue, Glen Parva, Leicester, LE2 9JW

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PSA (Financial Services) Ltd is authorised and regulated by the Financial Conduct Authority 231108

PSA (Financial Services) Ltd is registered in England and Wales company number 3934365

Paul Smith Associates is a trading name of PSA (Financial Services) Ltd

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