Terms of business - Introduction

The following is our standard Terms of Business which will apply to services supplied now and in the future. We ask that you read them and contact us if you are unsure of anything contained within any of the content. These terms form a legally binding agreement between you and us. If you have any questions, please do not hesitate to contact us through any of the methods we provide.

Willis Owen Limited is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority is the independent watchdog that regulates financial services. Willis Owen Limited is entered on the Financial Services Register under reference number 121261. You can also check this by contacting the FCA on 0845 606 1234.

Willis Owen Limited’s permitted activity is arranging investment business. Willis Owen is regulated in the United Kingdom. Willis Owen Limited registered office: Ground Floor, 507 (Unit 2), Centennial Business Park, Elstree, WD6 3FG. Registered in England No. 03283706.

Willis Owen Limited is an Execution Only Investment Service and all business transacted through us is done so on a “Direct Offer” or “Execution Only” basis for investors who wish to make their own investment decisions. We do not provide advice on any of the products or services featured on our website or through our various publications. This means that we do not offer financial advice on whether any product we promote is suitable to your personal circumstances. We are therefore not required, under FCA rules, to ensure that the product is suitable for you. In some circumstances, where you ask us to execute an investment that is defined by the FCA as a ‘complex product’, we may be obliged to ask you for further information before we can proceed with that transaction to assess whether you have the necessary experience and knowledge in order to understand the risks involved in relation to the product or service requested. In some circumstances, if we feel the product or service is inappropriate we can refuse to transact on your behalf.

None of the information on our website, whether provided by Willis Owen, or any additional firm mentioned is intended as a personal recommendation. Where a third party has expressed opinions in any of our publications or our website, these opinions are those of the third party and may differ from those of Willis Owen.

The website content relates to various products and we may make other products or services available to you, during the course of you holding an account with us. It is your responsibility to ensure that these products meet your needs, and if you have any doubt whether the products described are suitable for you, you should obtain independent financial advice.

When you buy and sell Unit Trusts, OEICs and other open ended investment Funds we carry out the transaction solely as agent. The Fund manager is responsible for the price at which all deals are transacted and we accept no responsibility or liability for any errors or inaccuracies by the Fund manager, its representatives or any third parties acting on their behalf. Willis Owen acts as your agent in arranging investments; we never own the investments which we arrange for you.

The Willis Owen Platform/Aegon Platform/Fidelity FundsNetwork and any other Platform we may offer in the future, including transactions made directly to the provider, are available to United Kingdom (UK) residents only. You must not undertake any transactions, including opening an account, if you are not a UK resident.

You must be aged 18 or over to invest. Eligible people who are under 18 may hold a Junior ISA, but this must be opened by a parent or guardian who will be the registered contact for the account.

There is no minimum or maximum length to our agreement under these Terms but please remember that under current rules you cannot withdraw money from a SIPP until you are 55 or from a Junior ISA until 18 (except in exceptional circumstances).

Willis Owen accepts no liability if you purchase two ISAs in any one fiscal year, or otherwise do not comply with the ISA rules. We reserve the right to collect fees/charges in relation to HMRC rebates if a second ISA is taken out in error.

These terms become effective once you become a customer.

These Terms of Business may not be varied except by prior written consent of the customer and Willis Owen.

These Terms of Business are governed by English Law and are subject to the jurisdiction of the English Courts.

Definitions

  • “Administration Address” - Willis Owen Ltd, PO Box 766, Borehamwood, WD6 9JS
  • “Aegon” - platform, previously known as Cofunds
  • “Customer” – sometimes known as a client, is a person or organisation who benefits from services offered by us
  • “Direct Offer” - a financial promotion with an offer or invitation to enter into an agreement and specify a means of response
  • “EPOA” - Enduring Power of Attorney, document appointing someone to make personal and financial decisions on your behalf
  • “Execution Only” – where a consumer has requested a specific investment and has chosen not to receive advice
  • “FCA” - Financial Conduct Authority, our regulator, 25 The North Colonnade, Canary Wharf, London, E14 5HS or any successor to all or any part of its functions
  • “GIA” - General Investment Account, this is an investment outside of a tax wrapper
  • “Honister Capital Holdings 1 Limited” – holding company which incorporates Willis Owen Limited
  • “ISA” - Individual Savings Account, this is a tax exempt savings plan managed under the ISA Regulations
  • “ISA Plan Manager” - responsible for regulatory returns to HMRC
  • “JISA” - Junior ISA, this is a tax exempt savings plan for under 18’s (for those who qualify)
  • “Nominee” - a person or firm into whose name securities or other properties are transferred in order to facilitate transactions, while leaving the customer as the actual owner..
  • “Provider” - a Fund or Product Provider
  • “Registered Address” - Willis Owen Ltd, Ground Floor, 507 (Unit 2) Centennial Business Park, Elstree WD6 3FG
  • “SIPP” - a retirement savings account for investors who want to manage their pension investments
  • “Us/We” – Willis Owen Limited
  • “Website” - means the internet pages found at willisowen.co.uk or accessed via that address
  • “Willis Owen Platform Service” - means the secure internet service that will be made available to you via the website after opening your account for you to access and manage your account
  • “You/Your” – the customer.