Agent Registration Form
And Terms Of Business
Relationship between the Company and the Agent
This form establishes the terms and conditions of business which the
Financial Adviser, on acceptance of these terms, will act as the Agent
(the “Agent”) when introducing business to Liberty SIPP Limited
(the “Company”) to enable their customers (the “Client”) to make
transactions using their Self Invested Personal Pension. As well as
governing the relationship between the Agent and the Company they
are the only conditions and therefore shall be considered to be binding.
Liberty SIPP Limited is regulated by the Financial Conduct Authority
(FCA Reg 476409) to establish, administer and wind up personal
pensions including SIPPs. Liberty do not give financial advice to clients.
Acceptance by the Company of an application by the Agent is at the
complete discretion of the Company and the Company reserves the
right not to accept an application without giving a reason why.
Once acceptance has been ratified then the contractual relationship
between the Agent and the Company will commence.
The company does not confer exclusive rights on the Agent. In all
aspects of the SIPP service and the advice provided on products and
investments which form each client’s portfolio, you will act as agent to
the Client who you have introduced as the financial adviser to the client
but not as the agent of the Company. This shall not affect the personal
responsibility of the Agent to the Company as governed by the terms
of the relationship. The Agent may also act as principal if so authorised,
pursuant to the Financial Services and Markets Act 2000 (the “Act”)
and all rules and regulations under it (as amended from time to time).
This shall not affect the rights and obligations of the Company and the
Agent as governed by the terms of the relationship.
The Agent shall be presumed by the Company to be acting on behalf
of the client once the application has been accepted until such time
that the Company is advised by the Agent or Client. The term of
the relationship shall not affect the obligations in place between the
Client and the Agent. The Agent warrants that the information given
by them in the application form is true and complete in all aspects.
The Agent shall advise the company immediately upon learning that
such information is untrue or misleading or could be contrary to the
guidelines set out by the Joint Money Laundering Steering Group.
Undertakings
After having their application accepted, the Agent undertakes and
the Company shall permit the Agent to carry out their services in
relation to guiding and advising the Client with regard to the permitted
investments allowed by Liberty SIPP subject to the following:
a)The Agent will ensure that the client always has a copy of the most
recent terms and conditions of the Liberty SIPP as well as access to
the frequently asked questions and associated guides provided by
the Company.
b)The Agent agrees to act at all times with probity and professionally
carry out all due diligence to ensure that they provide best advice
to their Client throughout the period in which the Client is a
member of the Liberty SIPP.
c)The Agent agrees to follow all procedures and protocols as
communicated by the Company in relation to the Liberty SIPP and
subsequently pass this information onto the client via suitable and
accessible media. The Agent also undertakes to promptly pass any
information from the Client to the Company where it is so required
for investment or compliance purposes.
d)The Agent accepts that it is their sole responsibility to ensure (within
the scope of duties under the Act) that the products and underlying
investments or prospective products or investments are suitable for
its Client.
e)Where the client appoints a Discretionary Manager to advise or
manage upon all or part of their SIPP portfolio (the “Discretionary
Manager”) the Agent undertakes that prior to such appointment
it will provide the Client with advice as to the choice of the
Discretionary Manager which includes investment objectives to be
followed, charges and area of specialism. Whilst the Agent remains
appointed by the Client they agree to undertake all necessary
due diligence to ensure that the Discretionary Manager remains
suitable for their requirements as well as monitoring their suitability
with regards to results and performance. They agree to inform
the Company immediately if they have any concerns about the
performance of the Discretionary Manager.
f)The Agent agrees to act promptly upon receipt of their Client’s
instructions in relation to their SIPP portfolio and will only deal upon
that portfolio on the implicit instructions of the Client in relation to
the Terms and Conditions of the Liberty SIPP. The Agent agrees to
promptly provide the Company with the necessary documentation
and adequate time to allow the Company to carry out the Client’s
instructions with regard to placing / selling a SIPP investment.
The Agent will agree not to act on any instruction which is contrary
to the permitted investments for a SIPP and is prohibited in any
way by any applicable laws or the Act including but not limited to
by relevant law or regulation.
For the avoidance of doubt written instructions, by mail, fax or
email can only be considered received by the Company on written
acknowledgement by the Company. If no acknowledgment is
received it is the responsibility of the Agent to contact the Company
by phone to ensure the instruction has been received.
g)The Agent shall comply with all statutory and Company imposed
requirement in relation to money laundering prevention.
h)The Agent shall not sign or amend any documents on behalf of the
Company, nor make any statements, promises or representations of
any kind on behalf of the Company or any employee or director of
the Company. The Agent shall not hold itself out as having authority
to make any such representation or bind the Company in any way.
i)The Agent undertakes to provide accurate information to its
Client. The Company is not obliged to check the accuracy of such
information and it not liable for any inaccuracies.
j)All information provided through the Liberty Portal will be used
in accordance with the Agent Privacy Policy which is available at
www. libertypensions.com
Indemnity and Liability
The Agent will indemnify and keep the Company indemnified, and it’s
agents and delegates, against all losses incurred directly or indirectly
as a result of any or all of the following:
a)Any failure by the Agent to comply with any applicable laws,
confirmations, undertakings, warranties and other liabilities
undertaken under the relationship.
b)Loss due to untrue, inaccurate or incomplete information having
been given by, or on behalf of the Agent, or a failure to advise the
Company of previous information becoming untrue or incomplete
c)Any breach by the Agent of any terms of the relationship.
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The Company will only be liable to the Agent for losses arising directly
as a result of negligence, fraud or wilful default by it. In no event shall
the Company be liable for special, incidental or consequential damages
or losses, including loss of profit or business or investment opportunity.
This indemnity is a continuing obligation and will continue after the
Agent ceases to act in the relation to a particular SIPP client or has no
ongoing relationship with the Company.
- The Agent carries out robust due diligence on introducers that they
transact with.
Financial Adviser Status and Authority
- The Agent will not allow another entity – regulated or not – to use
their FRN on their behalf unless the IFA is satisfied they are doing
so appropriately.
a)The Agent warrants that it has full authority to act on the Client’s
behalf, The Agent shall advise the Company as soon as it ceases to
be the agent of the Client.
b)The Agent warrants to the Company that they are and will during
the life of the relationship remain authorised to conduct investment
business in terms of the Act.
c)The Agent agrees that it will comply with the regulatory and legal
obligations and inform the Company of any failure to do so.
In particular it undertakes to maintain the appropriate approvals
under the Act and to inform the Company if such approvals lapse
or are withdrawn.
d)The Agent agrees to comply with the provisions of the Act and of
its regulatory body and in particular to observe the appropriate
cooling off periods, the need to provide best advice and the “know
your customer” rules.
e)Any payments or the terms and conditions upon which they are
made to the Agent may be subordinated to the provisions of the
Act and rules thereunder.
Liberty undertaking to Financial Adviser
a)Liberty agree that they shall respect the relationship between the
Agent and the clients they introduce
b)Liberty will not approach the Agent’s client with any other product
or investment opportunity
c)Liberty will not pass onto the Agent’s clients details to any company
associated with Liberty SIPP or Liberty Trustees Limited
Remuneration
The Company shall pay to the Agent any fee due for the service
provided to the Client in line with the fees agreed between themselves
and the client in the application form or after the express approval of
the client and only under the signatory of the client.
Data Protection
The Company, unless informed otherwise by the Agent, shall be entitled
to use any information or data held by it for the purposes of conducting
market research, preparing strategic or other marketing plans, or
gauging product sales or performance of the Company.
Data in respect of the Clients in relation to their Liberty SIPP will be
held both electronically and on paper file.
Both the Company and the Agent, their agents and their delegates
shall, subject to the above, all respect the confidentiality of the
respective business of the other and company with all applicable
data protection laws.
Introducers and Lead Generation
- The Agent is fully aware of FCA initiatives and practices required
for Introducers.
- The Agent regularly reviews and ensures that their systems and
controls are adequate to demonstrate that they have full and complete
ownership of the advice they are providing to the Client.
- The Agent must ensure the suitability of investments for the Client.
- The Agent will only delegate the performance of regulated activities
to other authorised firms that have the required permissions or
who are an Appointed Representative of the IFA, and conduct
appropriate monitoring.
Variation
The company reserves the right to vary these terms and conditions subject
to one month’s notice in writing being given to the Agent except in
circumstance where changes in applicable laws or the rules of a relevant
regulatory body or authority are required to take effect earlier than that
date, in which event notice of variation will be given as soon as reasonably
possible. Unless due to legal or regulatory requirements, any change shall
not affect the Company’s or the Agent’s accrued rights and obligations.
Termination
The relationship may be terminated by either party on giving one
month’s written notice to the other.
The relationship may be terminated with immediate effect by the
Company without liability on its part in the event of one or more of the
following occurring:
a)Any material breach by the Agent or any person or body for which it
is responsible of any of the provisions of the terms of the relationship.
b)Revocation or suspension of the Agent’s authorisation under the Act,
permit or approve, by any relevant body or governmental authority.
c)The Agent engaging in any act of wilful misconduct which in the
opinion of the Company is, or is likely to be, prejudicial to the
Company’s interest.
d)Cessation or suspension of the Agent’s business or material
litigation or reconstruction involving such business.
Notice
Any letter or other document shall be deemed to have been duly
served on the Agent if it is sent by post to or left at the address of
the Agent as set out above or as subsequently notified by the Agent
to the Company in writing. Notice to the Company shall be in writing
and shall, to have been validly given, require to have been given to
the registered office of the Company and to have been marked for the
attention of the Company Secretary by personal delivery or by first class
recorded delivery postal service. The notice period shall be deemed as
commencing on the day of personal delivery or three days after posting
in the case of first class recorded delivery postal service.
Governing Law
This agreement shall be governed by and construed in accordance with
the Laws of England and Wales and the parties hereby submit to the
exclusive jurisdiction of the English Courts.
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1. Agent Details
Name of Company
Trading names
Full Address
Number of Regulated Agent’s
Contact Name for payment enquiries
Telephone Number
Fax Number
Company Contact Email Address
We will use this email address to send you notifications about our online systems, as well as literature changes and other
important company announcements.
FCA Number
Adviser Network
(If applicable)
If you are an appointed
representative of another firm,
please provide the name of your
principal company.
If you use any research tools
please can you specify which ones
Where did you hear about Liberty?
2. Bank account details
Account Name
Account Number
Sort Code
Building Society Reference
Payment Instructions
(e.g. reference to be quoted with
payments)
3. Agreement
Liberty SIPP Limited agrees that where appropriate instructions have been received from Scheme Members of The Liberty SIPP and until notification
by the Scheme Member to the contrary, any agreed fees to the above Agent will be paid electronically from the Scheme to the bank account
detailed above. Initial fees will be paid once sufficient funds are available in the Scheme Member’s bank account and annual fees will be paid on or
around the anniversary the Scheme Member was admitted to the Scheme. Unless VAT is payable, an invoice will not need to be received by Liberty
SIPP Limited prior to the payment being made.
SIGNED ON BEHALF OF AGENT
Signature
Position
Date
SIGNED ON BEHALF OF LIBERTY SIPP LIMITED
Signature
Position
Date
Agent Number
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4. Online users
So that we can create all the correct users on our online systems, please first inform us of any advisers at your company that would like online access.
There is a table for administrator and paraplanner log ins who would also like online access. In this table you will be able to inform us if the
administrator or paraplanner looks after specific advisers so that we can allow the correct access levels for your team.
Adviser users
Example
Adviser Name
Mr David Smith
Adviser FCA ref
DS000015
Email address
Branch
[email protected]
London
Adviser 1
Adviser 2
Adviser 3
Adviser 4
Adviser 5
Adviser 6
Adviser 7
Adviser 8
Adviser 9
Adviser 10
Adviser 11
Adviser 12
Paraplanner and Admin users
Name
Example
Julie Price
Paraplanner/Admin Adviser access*
Paraplanner
Adviser 1, 4 & 8
Email address
[email protected]
Adviser 1
Adviser 2
Adviser 3
Adviser 4
Adviser 5
Adviser 6
Adviser 7
Adviser 8
Adviser 9
Adviser 10
Adviser 11
Adviser 12
*which advisers clients will you need access to
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Liberty SIPP Limited
Head office:
The Exchange,
Bank Street,
Bury bl9 0dn
Tel: 0161 763 7070
Email: [email protected]
Web: www.libertypensions.com
Published January 2017
Directors: John Fox - Julie Dean - Ian Currie - Michael Taylor Matthew Rankine
Company Registration No: 6365953, authorised and regulated
by the Financial Conduct Authority (Registration No: 476409).