1. The Financial Services Authority

The FSA is the independent watchdog that regulates financial services. This document is designed by the FSA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.

2. Whose products do we offer?

Investment

• We offer products from the whole market.
• We only offer products from a limited number of companies.
• We only offer products from a single group of companies.

Insurance

• We offer products from a range of insurers.
• We only offer products from a limited number of insurers.
• We only offer products from a single insurer.

3. Which service will we provide you with?

Investment

• We will advise and make recommendations for you after we have assessed your needs.
• You will not receive advice or recommendations from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.
• We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances but we will not:
• conduct a full assessment of your needs;
• offer advice on whether a non-stakeholder product may be more suitable.

Insurance

• We will advise and make a recommendation for you after we have assessed your needs.
• You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

4. What you will have to pay us for our services?

Investment

Not all firms charge for advice in the same way. This is the payment option we offer.

• Paying by commission (through product charges). If you buy a fi nancial product, we will normally receive commission on the sale from the product provider. Although you pay nothing up front, that does not mean our service is free. You still pay us indirectly through product charges. Product charges pay for the product provider’s own costs and any commission. These charges reduce the amount left for investment. If you buy direct, the product charges could be the same as when buying through an adviser, or they could be higher or lower. We will tell you how much the commission will be before you complete an investment, but you may ask for this information earlier. The amount of commission we receive will vary depending on the amount you invest and (sometimes) how long you invest, or your age.
  
  For arranging an ISA investment or ISA transfer, the maximum amount of commission that we will receive from the ISA provider will be £45 on each £1,000 subscribed and 1% per year of the fund value. For example, if your fund were worth £1,000 we would receive £10 per year, if it were worth £10,000 we would receive £100 a year. Renewal commission is normally received quarterly, half yearly or annually.
  
  For arranging a unit trust/OEIC investment, the maximum amount of commission that we will receive from the unit trust/OEIC provider will be £45 on each £1,000 subscribed and 1% per year of the fund value. For example, if it were worth £1,000 we would receive £10 per year, if it were worth £10,000 we would receive £100 a year. Renewal commission is normally received quarterly, half yearly or annually.
  
  For arranging an investment bond the maximum amount of commission that we will receive from the bond provider will be £75 on each £1,000 subscribed and 0.5% per year of the fund value. For example, if it were worth £1,000 we would receive £5 per year, if it were worth £10,000 we would receive £50 a year.
  
  The above commissions are the maximum amounts payable. In most cases, the commission payments will be less than the fi gures quoted. The commissions quoted are the gross amounts payable before our discounts are applied. For example, if we arranged an ISA, where 3% initial commission was payable and a 3% discount applied, we would receive 0% initial commission for arranging the transaction. We would, however, retain the renewal commission payment which is typically 0.5% per annum of the ongoing value of the investment, subject to our cashback policy.
  
  For personal pensions, AVC’s, endowment plans and protection policies, we will send you a quotation prior to you completing a proposal form. The quotation will give details of the amounts of commission payable, based on the level of contribution you wish to make.

Insurance

• A fee.
• No fee.

You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.

5. Who regulates us?

CommShare Ltd, Marlowe House, 109 Station Road, Sidcup, Kent DA15 7ET is authorised and regulated by the Financial Services Authority. Our FSA register number is 187989.

Our permitted business is advising on and arranging life assurance, pensions and unit trust business and non-investment insurance contracts.

You can check this on the FSA's Register by visiting the FSA's website www.fsa.gov.uk/register/ or by contacting the FSA on 0845 606 1234

6. What to do if you have a complaint

If you wish to register a complaint, please contact us:

• in writing
• Write to: CommShare Ltd., Marlowe House, 109 Station Road, Sidcup, Kent, DA15 7ET
• by phone
• Telephone: 020 8308 1308

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. 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.

Investment

Most types of investment business are covered up to a maximum limit of £50,000.

Insurance

Insurance advising and arranging is covered for 90% of the claim, without any upper limit.

Further information about compensation scheme arrangements is available from the FSCS.