evestor Terms & Conditions
About our services
This document provides details about our services to you and how we charge, so it’s important that you read it fully. If there’s something you don’t understand please ask us to explain it, the easiest way to do this is using the webchat facility within the client portal.
evestor, a trading style of E-Vest Adviser Services Limited is authorised and regulated by the Financial Conduct Authority. You can check this on the Financial Services Register by visiting: www.fca.org.uk/register or by contacting the Financial Conduct Authority on 0800 111 6768. Our registered office address is E-Vest Adviser Services Limited, Hensmill House, 9-13 Manchester Road, Wilmslow SK9 1BQ, registered in England & Wales no. 09407280
We offer restricted financial advice, and only recommend the evestor ISA, evestor SIPP and evestor general investment account products all provided by Greyfriars Asset Management LLP. If you opt to receive advice, we will recommend portfolios of investments made from a range of low-cost UK mutual funds.
We will make a personal recommendation for you via the evestor system, based on your personal circumstances. In certain instances your specific circumstances may require additional advice to be provided outside of the evestor system.
We may arrange a contract with a provider specified by you without giving any advice. In these circumstances you are confirming, via the evestor system, that you have sufficient knowledge and experience to make your investment decision and do not want us to give any advice on the suitability of the product in relation to your circumstances.
Our charges – investments
Before we provide any advice we will agree with you the cost of our services, which is a total of 0.35% per year, of which our ongoing administration charge is 0.25%. Fees will be taken directly from your investments on a monthly basis. The remaining 0.10% is for the provision of custody services, levied by our platform partner, Greyfriars Asset Management LLP. Our charges are the same, whether or not you choose to receive advice.
Here are some examples of how our charges could apply:
- If your investment was worth £1,000 our overall annual fee would be 0.35% of £1,000 = £3.50
- If your investment was worth £5,000 our fee would be 0.35% of £5,000 = £17.50
Please note that our charges will increase as the value of your investment funds increases.
Where charges are subject to VAT we’ll let you know.
Should you wish to complain please contact Rohan Sivajoti Advisory Services Director either:
- in writing: E-Vest Adviser Services Limited, Hensmill House, 9-13 Manchester Road, Wilmslow SK9 1BQ
- by email: firstname.lastname@example.org
Should you not be satisfied with our final response you may be entitled to refer the matter to the Financial Ombudsman Service (FOS) within six months of the date of our final letter:
- The Financial Ombudsman Service, Exchange Tower, London E14 9SR
- Tel: 0800 023 4567 or 020 7964 1000
- Email: email@example.com
- Website: financial-ombudsman.org.uk for further information on alternative dispute resolution
Financial Services Compensation Scheme
We are covered by the Financial Services Compensation Scheme. 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.
- For most types of investment business advising and arranging are covered for up to £50,000
- Eligible deposits are covered up to £75,000
Further information about compensation scheme arrangements is available from the Financial Services Compensation Scheme (www.fscs.org.uk).
Terms of Business Agreement
This is our standard Terms of Business Agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully before signing them. If you do not understand any point please ask for further information.
Services we provide
Advising: we will examine and report on your available options and products most suitable for your needs and objectives and we will recommend products and services for you. Our advice will be limited to ISA and SIPP investment products, and protection. At your request, via the evestor system, we can focus our advice on ISA, SIPP, protection, or any combination thereof.
Arranging: we can also facilitate our recommendations for you with Greyfriars Asset Management LLP, our chosen provider of SIPP and ISA investment products and services, and Zurich, our chosen provider of protection products.
Administering: administrative support is usually included as an on-going service whereby we maintain records of your arrangements, assist with any queries you might have and pass on instructions to or from providers.
Reviewing: we instigate regular contact with you to ensure that the arrangements made remain suitable. We monitor performance of the underlying investments and make further recommendations as required.
We will treat you as a ‘retail client’ or ‘consumer’ and you will be afforded the highest level of regulatory protection available.
Retail Investment Products
The range of regulated financial services we can provide includes researching, advising upon and arranging ISA and SIPP retail investment products, together with underlying investments in open ended investment companies, unit trusts, investment trusts and exchange traded funds. In making our recommendations we will consider only ISA and SIPP packaged retail investment products available from Greyfriars Asset Management LLP and we will recommend those that are suitable for you in our professional opinion.
Model Portfolios & Dealing
The underlying investments of your ISA and SIPP products will be in one of the model portfolios. The model portfolios are collections of investment funds, selected in line with different risk profiles. On receipt of the first payment into any product, and therefore into the underlying model portfolio, buy deals will be placed in the funds within the model in the proportion detailed on the portfolio factsheet. As the proportions of the invested funds within a product drift over time with movements in the market, some will become lower than their target proportion (underweight), while others will become higher than their target proportion (overweight) – subsequent payments into products will be invested in the funds in the model that are most underweight first, with a view to moving the model back towards its target; any withdrawals from products will result in the most overweight funds being sold down first, with a view to moving the model back towards its target. All model portfolios will be rebalanced twice a year, one of which will include changes to underlying assets and asset allocation if necessary. It may be necessary in exceptional circumstances to make changes to the underlying assets in the model portfolios at unscheduled times. When any change is being made to the underlying assets or the target allocation in the model portfolios, we will contact you in order to obtain your agreement to the changes.
Conflicts of Interest
We offer restricted advice but occasions could arise where we, or one of our clients, could have some form of interest in business that we are transacting for you. If this happens, or we become aware that our interests (or those of one of our other clients) conflict with your interests, we will inform you in writing and obtain your consent before we carry out your instructions.
Money Laundering Regulations
We are required by law to verify the identity of all our investment clients. No application will be made on your behalf until such verification has been obtained. We may also check your details against HMT Sanctions list as part of our obligation to prevent financial crime.
We are not authorised to accept client money and therefore we never accept a payment.
All contract notes and documents of title in respect of your investments or policies will be issued to you directly by the issuing company, via the evestor system.
Commencement and Termination
This Terms of Business Agreement takes effect from the date it is given to you and will apply until terminated. You, or we, may terminate our authority to act on your behalf under this agreement at any time, without penalty. Either party may terminate this agreement by providing 30 days notice in writing. Any outstanding fee payments must be settled immediately upon termination. Termination will not prejudice the completion of transactions already initiated on your behalf or any rights or obligations already arising.
Your Duty to Disclose Information
We will base our recommendations on the information you have given to us via the evestor system. It is your responsibility, and of the utmost importance that the information you supply is complete and accurate, in order that we can provide the best advice for your needs and circumstances. It is important that you ensure all statements you make in respect of insurance proposals, and other documents are full and accurate to the best of your knowledge. Please note that if you recklessly, carelessly or deliberately fail to disclose any material information to us or your insurers this could invalidate your insurance cover.
The Product Provider Terms & Conditions will detail your rights to cancel your ISA and SIPP arrangements once you have taken them out. Depending on the type of product you have purchased you may be entitled to cancel within 14 days (30 days for certain products) of either conclusion of the contract or receiving your documentation, whichever occurs later. You will then receive a full refund provided no claim has been made, except in the case of certain investment products where funds have already been invested, when you will get back the value of the investment whether this has gone up or down.
Our Services and Charges
Our investment advice service offers initial advice given via the evestor system, together with reviews whenever you want. You can choose to receive full advice (recommendation of which product or products, as well as which underlying investment portfolio) or focused advice (you choose the product or products we recommend the underlying investment portfolio). You can request a Skype appointment with one of our advisors at any point. The underlying investment portfolios are rebalanced on a biannual basis.
The fee for our administration services supplied via the evestor system is 0.25% per annum, taken monthly from your investments.
There is no charge for advice, should you choose to take it. If you wish to stop receiving advice at any point, you may do so by contacting evestor using the chat function on the portal. In the event you do choose to stop receiving advice, you will continue to be charged the administration charge of 0.25% per annum, and the 0.10% per annum custody charge.
Fees paid out of investments
All fees are paid out of investments. We accept no liability for any tax incurred as a result of this method of remuneration.
Terms and Conditions
1. General Terms
a. Important information
In these Terms, references to “evestor”, “us”, “our” and/or “we” means evestor, a trading style of E-Vest Adviser Services Limited.
In these Terms, reference to an “evestor Account” means an account that we will open for you which will enable you to track your spending through both the mobile application (the “App”) and through the web portal (the “Portal”) which allows us to provide Financial Advice and Discretionary Fund Management Services.
These Terms contain important information regarding the services that we provide to you so, for your own benefit and protection, please read these Terms carefully before accepting them. If there is anything contained in these Terms that you do not understand, please do not hesitate to contact using the chat function on the website.
b. Your agreement with us
These Terms, together with (a) the information we have provided to you via the App and Portal about our services and fees; and (b) the information you have provided to us via the App and Portal under these Terms in relation to your evestor Account constitutes the agreement (“the evestor Agreement”) between you and us in the provision of our services to you. E-Vest Adviser Services Limited is authorised and regulated by the Financial Conduct Authority (“FCA”), whose address is 25 The North Colonnade, Canary Wharf, London E14 5HS. Their FCA registration number is 676331. evestor is a trading style of Postcard Planning Ltd. Postcard Planning Ltd is registered in England & Wales under Company Registration Number 09407280; its registered address is Hensmill House, 9-13 Manchester Road, Wilmslow SK9 1BQ.
c. Commencement and status of the evestor Agreement
The evestor Agreement will be legally binding when you accept these Terms. However, we will only start to provide our services to you after we have notified you that your evestor Account with us has been opened and, accordingly, those terms relating to your evestor Account will only be applicable after that time. The evestor Agreement has no minimum duration period.
The evestor Agreement is governed by the laws of England and Wales. If any provision of the evestor Agreement is or becomes invalid or unenforceable, the relevant provision will be treated as if it were not in the evestor Agreement, and the remaining provisions will still be valid and enforceable.
Should you have any complaints in relation to the services provided us then please notify us using the chat function on the website. We will acknowledge your complaint promptly, and arrange for the matter to be investigated in accordance with the rules of the FCA (the “FCA Rules”) and report the results to you.
If your complaint is unresolved or not settled to your satisfaction within 8 weeks from the date you first made the complaint, you may refer it directly to the Financial Ombudsman Service (“FOS”). The address of the FOS is Exchange Tower, London E14 9SR. You can also telephone the FOS at: 0800 023 4 567, or email the FOS at: firstname.lastname@example.org. You can find out further information about the FOS on its website: www.financial-ombudsman.org.uk.
e. The evestor Account and the evestor Services
We will provide services (the “evestor Services”) to you in connection with the set up and operation of your evestor Account including the provision of the App.
We will provide the evestor Services to you in accordance with the Terms of the evestor Agreement, all applicable laws and the FCA Rules.
We will do our best to ensure the App and your evestor Account is available and up and running for you to use at any time however, this is not something we can guarantee. There may be times where the App and your evestor Account may not be available and where we may not be able to facilitate your investment instructions. There may be interruptions and/or delays to our services. If this happens we will do our best to contact you to let you know what you should do. You can also contact us using the chat function on the website.
We may suspend the operation of our services where we consider it necessary, including (but not limited to) where we have to suspend operations for technical problems, emergencies, maintenance, regulatory reasons, where we decide it is sensible for your protection, in periods of exceptional trading activity or to ensure the continued availability of other services. If this happens we will do our best to contact you to let you know what you should do.
f. Your use of our App
evestor will provide you with security details to access your evestor Account. You must keep these details safe and confidential and notify evestor immediately if you think that someone else may know these details and/or may have unauthorised access to your Account (otherwise in accordance with these terms).
You must not undertake any action that could compromise the security or effective working of the evestor Services. Any such action will be considered a material breach of these Terms.
You are responsible for monitoring your evestor Account, ensuring that you read all messages that have been sent to you (whether through the notifications and messaging centres in the App and the Portal, via the email address you have provided to us, or via any other means as agreed between us) and informing us if there is something wrong on your evestor Account or you suspect that it has been subject to unauthorised use.
You may download or print information and documents that we provide to you strictly for personal use provided that you keep intact all copyright and proprietary notices but you must not otherwise reproduce or distribute any material without our consent.
You acknowledge and agree that all intellectual property rights in the App, the Portal, all documents and related technology anywhere in the world belong to us or our licensors - you have no rights in or to the App, the Portal, the documents and related technology other than the right to use each of them in accordance with these Terms and the Data Terms.
g. Opening your evestor Account
Before we can open your evestor Account and provide the evestor Services to you, we are required to verify your identity in accordance with UK anti-money laundering legislation. We will use various third-party services to do this and you expressly authorise us to do this acknowledging that this will involve us transmitting your personal information to such third parties and carrying out credit checks that may affect your credit score.
You warrant and represent to us and to the Platform Provider on an ongoing basis that:
- You are aged 18 or over
- You are UK resident for tax purposes
- You are not a US Person
You agree to notify us immediately if any of the above warranties cease to be correct.
We may communicate with you at any time using the information you have given us, including, when appropriate, by telephone, SMS text message, by email and via the App.
It is your responsibility to ensure the contact information we have for you is up to date. In particular, you must ensure we have a current and valid email address for you so that we can notify you when important documents are delivered to you via the App. You accept that where either we or the Platform Provider are required to provide you with written notice then this will be given to you by means of electronic correspondence.
We cannot guarantee that electronic communications will be successfully delivered, or that they will be secure and virus free. Save where we have been negligent or where we have breached applicable law or the FCA Rules, we will not be liable for any loss, damage, expense, harm or inconvenience caused as a result of an email being lost, delayed, intercepted, corrupted or otherwise altered or for failing to be delivered for any reason beyond our control.
We may record and monitor telephone conversations that we have with you for training purposes and quality control, for crime prevention, and to provide a record of our discussions with you. We will store recordings for a period required by law, the FCA Rules or for as long as we consider necessary to be able to provide the evestor Services to you. In the event of a disagreement between you and us, we can give you a copy of our records on request (but we reserve the right to charge you a reasonable fee for this).
All communications in relation to the services provided under this Agreement will be in English.
i. Your information and data
We may use your personal information, including sensitive personal information and store it on our systems and may otherwise process it for the purposes of providing the evestor Account and the evestor Services. By accepting these Terms you agree that we may also provide you with marketing materials and other information regarding any of our other products and services from time to time, that we think may be of interest to you. If you do not wish to receive such materials please contact us using the chat function on the website.
We will not at any time (without your consent) share or provide your personal information to any third party for that party to market its services and products (or the services and products of any person unconnected with us).
We may pass personal information relating to you to third parties appointed by us for the purpose of administration and verifying your identity (as described in this Section 1 Part s) and you confirm that you accept and consent to this. We may need to seek additional information from you in order to verify your identity, in which case we may:
- delay the opening of your evestor Account; or
- return and cancel your application; or
- withhold from you the ability to trade or withdraw any Funds until we have successfully verified your identity
We are registered with the Information Commissioner for the handling and processing of personal information and shall comply at all times with applicable data protection legislation. We will take all reasonable steps to ensure that the database containing this information is constantly updated and is securely protected against unauthorised entry and that personal information is kept strictly confidential.
We may disclose your personal information if we are required to do so by law or we are requested to do so by the FCA, or any other relevant regulatory authority in any country.
Your personal data may be transferred to third parties outside the EEA as well as within it, solely in connection with our provision of the evestor Account and the evestor Services. You should be aware that in territories outside the EEA, laws and practices relating to the protection of personal data are likely to be different and in some cases may be weaker than those within the EEA. Where transfers outside of the EEA are necessary, evestor complies with the stringent safeguards to protect your personal data required by law. By entering into the evestor Agreement you consent to such processing of your data.
You are entitled to see all personal data relating to you, which is held on any database controlled by us. A charge may be made if you use this service. Please contact us using the chat function on the website for details.
j. Conflicts of interest
We or anyone connected with us, may carry out certain transactions for you where we, or another client of ours, have a duty that may conflict with our duty to you. Where a potential conflict of interest arises, we will take all reasonable steps to protect your interests and ensure fair treatment in accordance with the duties we owe you as our client. We have procedures in place to handle such conflicts of interest and to ensure that we act appropriately. It is our practice to disclose the nature of all conflicts of interest to you and (if appropriate) ask for your permission to continue with the service.
Our Conflicts of Interest Policy is detailed in Section 3. This sets out the types of actual or potential conflicts of interest which may arise given the nature of our business and provides details of how these are managed. Further details and updates of this policy can be provided on request.
Where appropriate, we may offer to refer you to third parties to provide certain additional services. We will not make any such referral without your agreement.
We may pay (or receive from third parties), fees in relation to referrals of business. In making or receiving any such referral and making or receiving such payments, we will act in accordance with the FCA Rules and all applicable laws.
l. Amendments to the evestor Agreement
We may amend the evestor Agreement:
- if we are required to do so to comply with the FCA Rules, or any other applicable law or regulation
- to reflect changes in the costs and expenses that we incur (or reasonably expect to incur) in providing the services to you, including to take account of changes in the rates of inflation, taxes or interest
- to make these terms fairer to you or easier to understand, or to correct mistakes;
- to reflect changes in market practice or conditions
- to enable us to make reasonable changes to the way we provide our services as a result of changes in the financial services sector, technology, or available products
- to reflect changes to our arrangements with the Platform Provider or Yodlee
If we propose to make a change to these Terms that is not detrimental to you, we can make the change immediately. We will make information available to you about the change within 30 days of the change.
If we make a change to these Terms that may be detrimental to you, we will provide you with at least 30 days’ prior notice (unless we are required to make the change sooner, for example, for legal or regulatory reasons, in which case we will make information available about the change within 5 days of making the relevant change).
If we make any change that is detrimental to you, you may notify us within 30 days from the date of such change to terminate your evestor Agreement and close your evestor Account without charge.
You may terminate your evestor Agreement at any time and for any reason by providing us with notice, subject to the settlement of all outstanding transactions. Transactions already in progress will be completed in the normal course of business. We will close your evestor Account as soon as practicable after receiving your notice to terminate the evestor Agreement.
We may terminate this Agreement at any time by giving you 30 business days’ prior notice subject to the settlement of all outstanding transactions.
We may terminate this Agreement immediately, freeze you evestor Account and take steps to freeze transactions through your Platform Product(s) without giving you advance notice if we reasonably believe that you:
- have materially breached any of the terms of the evestor Agreement or have otherwise provided us with false or misleading information
- are using, or allowing another person to use, your evestor Account illegally or for criminal activity
- have behaved in an inappropriate manner (for example, if you abuse any of our staff)
- have failed to pay any of the amounts owed under the evestor Agreement
- have become bankrupt, insolvent or you are unable to pay your debts as they fall due
We may also terminate the evestor Agreement immediately if:
- we reasonably believe that providing you with a service exposes us to action or censure from any law enforcement, government or regulatory body (including, without limitation, the FCA)
Where we terminate the evestor Agreement immediately or freeze your evestor Account as set out above, we will inform you in writing immediately of our decision and our reasons for making that decision.
n. Governing Law
The evestor Agreement and the Platform Provider Agreement and any dispute or claim arising out of or in connection with either of them (including non-contractual disputes or claims) will be governed by and construed in accordance with the law of England and Wales.
The parties irrevocably agree that the courts of England and Wales will have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with either the evestor Agreement or the Platform Provider Agreement (including non-contractual disputes or claims).
o. Third Parties
Save for Yodlee Inc and any other relevant Service Provider who may enforce, as applicable, provisions herein for a person who is not a party to this agreement cannot enforce or enjoy the benefit of any term of this Agreement under the Contracts (Rights of Third Parties) Act 1999.
2. Summary of Conflicts Management at evestor
evestor is committed to maintaining the highest professional standards and, therefore, we endeavour to identify, consider and manage potential conflicts of interest to ensure that we treat all of our customers fairly and in accordance with FCA Rules and principles.
b. Nature of a conflict of interest
In essence, a conflict of interest is a situation in which evestor (or any of its personnel) finds itself in a position where its own interests conflict with the duties and obligations owed to its clients or, a situation in which evestor’s duty to one client conflicts with its duty to another.
c. Identifying conflicts of interest
For the purposes of identifying the types of conflict and potential conflicts that arise which may entail a material risk of damage to the interests of a client, we must take into account whether evestor or its directors, employees or contractors (“evestor Personnel”) or any other person linked by control to evestor:
- is likely to make a financial gain, or avoid a financial loss, at the expense of a client
- has an interest in the outcome of a service provided to a client or transaction carried out on behalf of a client, which is distinct from the client’s interest in that outcome
- has an incentive to favour the interest of another client or group of clients over the interests of the client
- carries on the same business as a client
- receives or will receive from a person other than a client an inducement in relation to a service provided to the client, in the form of remuneration, goods or services
d. Conflict Situations
We have identified a number of situations which may give rise to a potential conflict of interest. These situations include, but are not limited to, the following:
- we receive gifts, entertainment or other monetary and non-monetary benefits from our service providers or business partners (for example, the fund managers of the Funds we make available to clients through the App), which could give rise to a conflict with respect to the duties that we owe to our clients
- evestor Personnel who have outside commitments (e.g. directorships or other outside business interests) may be influenced to act in a manner that conflicts with the interests of evestor or its clients
- where evestor Personnel invest for their own account in certain investments which are retained as investments for client accounts
e. Conflict Avoidance
We seek to organise our business in such a way as to avoid conflicts of interest arising.
f. Conflict Management
For conflicts of interest which are unavoidable, we have put in place procedures which are designed to ensure that the management of any conflict takes place in such a way that evestor (and its personnel) are not advantaged and that no client is disadvantaged. All of our employees are provided with training in these procedures and the standards of conduct expected of them. evestor’s Board of Directors remains responsible for ensuring that such procedures are appropriate and that employees act accordingly. Specifically, we have put in place the following procedures to assist in our identification and management of conflicts of interest:
- Conflicts Log: we maintain a list of all potential conflicts of interest identified. With respect to each conflict, the log details the measure put in place to monitor and manage the conflict of interest
- Gifts & Entertainment Policy: we ensure that all evestor Personnel are subject to appropriate restrictions and monetary limits for any gifts or entertainment received
- Personal Account Dealing Policy: we ensure that all evestor Personnel pre-clear and report any personal trading activity which may conflict with the interests of our clients
- Pre-approval process for all Outside Business Interests: we ensure that our personnel’s external commitments do not conflict with the interests of evestor or its clients
- Separation of functions: where our internal functions might give rise to conflicts of interest, we put in place arrangements to separate such functions and ensure that separate management and reporting lines are established
g. Conflicts Disclosure
If we are not reasonably confident that we are able to manage a particular conflict to adequately protect the interest of a client, the general nature and/or source of conflicts of interest will be clearly disclosed before we undertake any business. The following conflicts are managed through disclosure:
- We may aggregate your personal data (including, if you sign up to the Account Aggregation Services, your transactions) with that of other clients and license or sell it to third parties in anonymised form
As the context requires, such mobile application(s) and/or website(s) as we may make available from time to time to enable you to access your evestor Account and receive the evestor Services.
Any Monday, Tuesday, Wednesday, Thursday or Friday which is not a Bank Holiday in England.
Such bank, credit or debit account used in the course of providing the Account Aggregation Services as described in Section 1 Part o.
Current Tax Year
The current period between 6th April and 5th April of the following year.
A person or entity to whom we may delegate to in order that they perform the provision of certain services to you instead of us.
E-Vest Adviser Services Limited, trading as evestor.
Means your agreement with evestor, as further defined in Section 1 Part b.
The services that evestor will provide to you as further defined in Section 1 Part e.
The rules contained in the FCA’s handbook of rules and guidance (as may be amended and updated from time to time).
Financial Conduct Authority or “FCA”
The UK Financial Conduct Authority, or any applicable successor body.
Financial Ombudsman Service or “FOS”
The office to whom you may refer any complaint you have about the services provided to you if we cannot resolve or settle your complaint (to your satisfaction) within 8 weeks of the date you first make the complaint.
Financial Services Compensation Scheme or “FSCS”
A statutory compensation fund from which you may be able to make a claim in the event that a regulated firm (such as evestor and the Platform Provider is unable (or is likWely to be unable) to pay a claim against it.
Her Majesty’s Revenue & Customs.
Previous Tax Year
Any previous period between 6 April and the following 5th April.
British Pounds Sterling (the lawful currency of the United Kingdom, as at the date of this Agreement).
These Terms, which govern the relevant services provided to you by evestor and the Platform Provider and which form part of your agreement with each of them.
Any United States citizen or other person who is resident in the United States for tax purposes.