1. finance
2. bank
3. bank account

SELF INVEST
ACCOUNT
OPENING
PACK
FOR PERSONAL CLIENTS
ACCOUNT OPENING FORM
SELF INVEST SERVICE
For personal clients opening an Individual General Investment Account (GIA) and Individual
Stocks & Shares Savings Account (ISA)
Please Print clearly in block caPitals
in all sections
If you would like correspondence to be sent to a different address,
please show here –
Section 1 – Individual details
Title: Mr/Mrs/Miss/Ms/Other
City:
First name(s):
County:
(or country if not UK)
Surname:
Postcode:
Preferred name if different:
Please tell us:
Your occupation
Date of birth: (DD/MM/YYYY)
Do you have a National Insurance
(NI) number? (please tick one)
If yes, please enter it here:
/
/
Yes
/
No
Your employer’s name
/
Town and country of birth:
Section 2 – Contact details
Please open the following accounts for me:
GIA
ISA (Tick all that apply) - Please note that we will
automatically open a GIA for you if you want to open an ISA.
Permanent residential address –
You must provide at least one telephone number and your email
address.
Home
telephone:
Mobile:
Work telephone:
Email:
Section 3 – Your Bank Details
City:
The details you give here must be for an account in your own name or
joint names. All payments will be made to the bank account we have on
our records via the BACS system.
County:
(or country if not UK)
Postcode:
When did you move to this address?
(DD/MM/YYYY)
/
/
If you have lived at your permanent address for less than 3 years,
please give your previous address –
Please note Seven Investment Management (7IM) are not able to
open an account without your bank details.
Bank:
Branch:
Sort code:
/
/
Account title:
Account No:
City:
County:
Account Ref:
(if applicable)
(or country if not UK)
Postcode:
We will carry out electronic identification checks but may ask you to
provide verification documents.
Page 1 of 3
Section 4 – Dividends and Income
Section 7 – Fees & Charges
We will retain your dividends and income in your portfolio unless you
indicate below that you would like us to pay it to your Bank Account,
in which case please complete the details below:
You agree to pay the fees and charges to 7IM for the service as set
out in the Fees and Charges Sheet provided to you, in accordance
with the 7IM Terms and Conditions.
GIA – send to my bank account
Please take 7IM fees:
(You must tick one of the boxes below for each portfolio.)
ISA – send to my bank account
GIA: Monthly
Quarterly
Day of Month
ISA: Monthly
From the
Portfolio
Day of Month
Half Yearly
Commencement month:
Section 5 – Regular Withdrawals
We can send a regular amount from cash in your portfolio to your bank
account. If you would like us to set this up, please complete the details
below:
Withdraw £
from my GIA
bank account Monthly
Quarterly
commencing (DD/MM/YYYY)
/
Withdraw £
from my ISA
bank account Monthly
Quarterly
commencing (DD/MM/YYYY)
/
From Joint
7IM GIA
GIA
Half Yearly
Commencement month:
Quarterly
From Individual
7IM GIA
ISA
If there is not enough cash held in your nominated portfolio to pay the
fees, we will sell holdings to raise cash without giving you any further
notice. You can nominate a holding here for us to sell first to cover
fees. If you do not nominate a holding here, or if your nominated
holding is not able to be realised or its sale does not raise sufficient
cash, we will first sell the largest value holding at the time and will
continue to sell in the order of largest to smallest value holdings to
raise the required amount.
For GIA:
and send it to my
Half Yearly
/
For ISA:
and send it to my
Half Yearly
/
If there is not enough cash held in your portfolio to pay the withdrawal
amount, we will sell holdings to raise cash without giving you any
further notice. You can nominate a holding here for us to sell first to
cover the amount. If you do not nominate a holding here, or if your
nominated holding is not able to be realised or its sale does not raise
sufficient cash, we will first sell the largest value holding at the time
and will continue to sell in the order of largest to smallest value
holdings to raise the required amount.
For GIA:
Section 8 – Sending Money to your New
7IM Account
You enclose a cheque for £
payable to Pershing Securities Ltd.
OR
Tick here
if you want to send money via BACS or CHAPS and
we will contact you with the details of what to do next.
Please enter the amount you will be sending: £
Please apply the funds as follows:
GIA £
For ISA:
Section 6 – Reports
Formal portfolio reports will be provided every six months showing the
transactions, holdings and performance for your accounts with us; if you
wish to receive them quarterly please contact us. Information regarding
your portfolio can also be accessed on-line at any time.
(optional)
ISA £
Please complete the Lump Sum Investment Instruction to tell us
how you want to invest the money. Please note that we will not invest
until your account is open and cleared funds are available.
If you want to set up a regular contribution to your portfolio, you can
do this by completing a Standing Order form and the Regular
Contribution Instruction.
Page 2 of 3
Section 9 – ISA Declaration (if applicable)
Section 10 – Declaration and Signature
I apply to subscribe for a Stocks & Shares ISA for the tax year
2014 to 2015 and each subsequent year until further notice.
You declare that:
I declare that:
■ All subscriptions made, and to be made, belong to me;
■ I am 18 years of age or over;
■ I have not subscribed, and will not subscribe, more than the overall
subscription limit in total to a cash ISA and a stocks and shares ISA
in the same tax year;
■ I have not subscribed, and will not subscribe, to another stocks and
shares ISA in the same tax year that I subscribe to this stocks and
shares ISA; and
■ I am resident and ordinarily resident in the United Kingdom for tax
purposes or, if not so resident, either perform duties which, by
virtue of Section 28 of Income Tax (Earnings & Pension) Act 2003,
(Crown employees serving overseas), are treated as being
performed in the United Kingdom, or I am married to, or in a civil
partnership with, a person who performs such duties. I will inform
7IM if I cease to be so resident and ordinarily resident or to perform
such duties or be married to, or in a civil partnership with, a person
who performs such duties.
■ This application form has been completed to the best of your
knowledge and belief; and
■ You agree to the 7IM Terms and Conditions and Fees and Charges
Sheet provided to you.
We would like to send you information about our products and
services which we believe will be of interest to you. We will send you
this information by post, telephone, email and SMS. Please tick this
box if you do not wish to receive such information
.
We will send you details of how to log in to view your portfolios
online. You MUST log in and complete all four of the security
questions we ask in order to complete your account opening.
I authorise 7IM:
■ To hold my cash subscription, ISA investments, interest, dividends
and any other rights or proceeds in respect of those investments
and any other cash; and
■ To make on my behalf any claims to relief from tax in respect of
ISA investments.
NB. You must complete all relevant sections of this form,
otherwise it will not constitute a valid ISA subscription.
By signing below you indicate that you agree to be bound by the 7IM Terms and Conditions and Fees and Charges Sheet
provided to you. For your own benefit please ensure you have carefully read these before signing. If there is anything you do
not understand please ask us for further information.

Your signature is required for the completion of this form
Signature
Name
Date
By opening this account and signing here, the account
owner represents and warrants that he/she/it is not a U.S.
person for the purpose of U.S. Federal income tax and that
he/she/it is not acting for, or on behalf of, a U.S. person. A
false statement or misrepresentation of tax status by a U.S.
person could lead to penalties under U.S. law. If your tax
status changes or you become a U.S. citizen or a resident,
you must notify us within 30 days.
PLEASE RETURN ALL PAGES OF THIS FORM TO 7IM AT 125 OLD BROAD STREET, LONDON EC2N 1AR.
Page 3 of 3
Account No:
Linked Account:
7IM Reference:
Seven Investment Management LLP is authorised and regulated by the Financial Conduct Authority. Member of the London Stock Exchange.
Registered office: 125 Old Broad Street, London EC2N 1AR. Registered in England and Wales number OC378740.
ON005/SIS/7-14
For office use only
SELF INVEST SERVICE // SEPTEMBER 2014
SELF INVEST SERVICE
FEES & CHARGES
Portfolio Value
self Invest service annual fee
On the first £500,000
0.30%
On the next £500,000
0.25%
On the balance over £1,000,000
0.15%
Charges for all trades are included in the above. The fees will be charged monthly in arrears calculated on the daily closing midmarket value of the portfolio(s). The minimum amount payable in any given month is £20.
Cash and Fixed Term Deposits are exempt from the Self Invest Service Annual Fee. Investments in any of the 7IM funds are not
included in the fee calculated above but are subject to a Service Fee of 0.25% per annum. The 7IM funds are offered as a 7IM
Platform share class (S) with the Annual Management Charge of these funds 0.25% lower than the standard share class (C).
The minimum portfolio size is £1000. Investments can be subject to the fund manager restrictions and lot sizes.
Cash
Transfers OuT
Interest is payable on cash held on the Self Invest Service at
a rate of Base Rate minus 0.75%. This will be calculated on a
daily basis and paid to the portfolio six-monthly. If Base Rate
is 0.75% or below, interest will not apply.
7IM makes no charges if funds or stock holdings are
transferred to another manager.
If there is not enough cash held in your portfolio to pay fees,
you will be required to sell holdings to raise cash. (7IM will
automatically sell from the largest fund in your portfolio at the
time the fees are due unless you nominate a specific fund.)
Transfers In
7IM makes no charge for transfers in, but we may have to
pass on any charges incurred for moving any holdings from
overseas custodians or re-registration charges.
Transfer of funds via BACS:
Free.
(This is our standard method of transfer.)
sIPPs and OTher Tax wraPPers
There is no additional charge for holding the wrapper but there
may be a charge levied by the wrapper provider.
7IM has a preferred SIPP provider: DP Pensions Ltd. They
offer an annual fee of £95 + VAT per annum.
7IM will cover this annual fee for SIPPs of £75,000 and above,
provided those SIPP assets are held at 7IM and use the
preferred SIPP provider.
ISAs – 7IM provides this wrapper at no additional charge.
Offshore/Onshore Bonds - Are not available in the service.
For more information call 0207 760 8777 or visit www.7im.co.uk
Seven Investment Management LLP is authorised and regulated by the Financial Conduct Authority. Member of the London Stock Exchange.
Registered office: 125 Old Broad Street, London. EC2N 1AR. Registered in England and Wales No. OC378740.
SELF INVEST SERVICE
TERMS AND
CONDITIONS
THE SELF INVEST SERVICE

The Self Invest Service is offered to clients to allow them to
manage their investments – buying, selling and recording them in
one place but within different tax wrappers where relevant.
This is an important document which you should read carefully as it
sets out the terms upon which we, Seven Investment Management
LLP (‘7IM’), will provide the Self Invest Service.
7IM takes instructions from you via the Self Invest Service and
carries out deals in the market on an execution-only basis. This
means that we will not provide any investment or other advice to
you. Please note that you will make and be responsible for all
investment decisions, and we will only enter into transactions
based on your instructions. We will not therefore consider the
suitability or appropriateness of any transactions which you enter
into.
Please note that, as with all investment decisions,
transactions via the Self Invest Service carry a degree of risk
(which depends upon the investments chosen) and can result
in losses as well as gains. Your capital is at risk and you may
not get back what you originally invested. If you do not
understand the risks involved in the services described in these
Terms and Conditions or are otherwise unsure of the suitability of
an investment for you, then you should seek professional advice
from a suitably qualified adviser.
Please note that words or expressions which are capitalised in
these Terms and Conditions are defined in the ‘Definitions’ section
below.
AGREEMENTS

we may give instructions to PSL on your behalf (as provided
for in these Terms and Conditions) and provide information
about you to PSL, and PSL is entitled to rely on any such
instructions or information without making any further checks
or enquiries; and
PSL is authorised to hold cash and investments on your
behalf and to transfer cash and investments from your
account to meet your settlement or other obligations to PSL.
If you have any questions about these Terms and Conditions or
any other part of the 7IM Agreement or the Pershing Agreement,
you should contact 7IM to discuss this as soon as possible and
before you sign your account opening documentation or instruct us
to act for you. As with any agreement or contract, you should also
take any independent legal, financial or other advice which you
think you need before signing your account opening documentation
and accepting these Terms and Conditions.
When we receive your completed account opening documentation,
we will open an account for you. Please note however that we
reserve the right not to accept an application to open an account,
and PSL reserves the right to refuse to hold any investments for
you. We will inform you if we or PSL are not able to provide our
services to you, together with the reasons for this unless prevented
from doing so because of any legal or regulatory constraint.
For the purposes of the rules of the United Kingdom Financial
Conduct Authority (‘FCA’), you have been categorised as a retail
client. PSL will rely on information received from us in relation to
your status and will adopt the same client classification for you. We
will notify you in writing if there is any change to this position.
Other services are available and are subject to separate terms and
conditions. Please contact us for further details.
By signing your account opening documentation, you are agreeing
to these Terms and Conditions. Your signed account opening
documentation, which incorporates these Terms and Conditions
and the Fees and Charges Sheet provided to you during the
application process, shall constitute the formation of a contract
between you and 7IM (the ‘7IM Agreement’), under which we will
provide the Self Invest Service.
REGULATORY STATUS
We have entered into an agreement with Pershing Securities
Limited (‘PSL’), under which PSL provides clearing and settlement,
safe custody and other associated services to our clients in order
to carry out the investment transactions we execute or arrange for
our clients and to hold the related investments and cash (the
‘Pershing Agreement’). We may agree with PSL that it will also
provide us other services under the Pershing Agreement, such as
investment dealing services. The Pershing Agreement covers both
7IM and you as one of our clients.
Pershing Securities Limited is authorised and regulated by the
Financial Conduct Authority with registration number 146576.
Member of the London Stock Exchange. Registered office:
Capstan House, One Clove Crescent, East India Dock, London
E14 2BH. Registered in England, company number 2474912.
By accepting these Terms and Conditions, you agree that:

7IM is, for the duration of these Terms and Conditions,
appointed as your agent with the authority to enter into and
vary the Pershing Agreement on your behalf;

accepting these Terms and Conditions means that there is a
contract between you and 7IM, and also a contract between
you and PSL. As a result, you will be bound by the terms of
both the 7IM Agreement and the Pershing Agreement. So that
you can understand your rights and obligations in relation to
the Pershing Agreement, the main terms of the Pershing
Agreement which affect you are summarised below in these
Terms and Conditions;
Seven Investment Management LLP is authorised and regulated
by the Financial Conduct Authority with registration number
589124. Member of the London Stock Exchange. Registered
office: 125 Old Broad Street, London EC2N 1AR. Registered in
England and Wales under number OC378740.
DEFINITIONS
In these Terms and Conditions:
‘7IM’ means Seven Investment Management LLP;
‘7IM Agreement’ means your signed account opening
documentation, these Terms and Conditions and the Fees and
Charges Sheet, as amended from time to time in accordance with
these Terms and Conditions;
‘7IM Web Service’ means the 7IM website at www.7im.co.uk and
any other website or web service or application (including but not
limited to mobile applications) provided by 7IM to which we may
grant you (or any of your Authorised Users) access from time to
time;
PAGE 1
TERMS AND CONDITIONS
‘Authorised User’ means any person you have authorised to
access any of your Portfolios through any 7IM Web Service, as
notified to us from time to time;
‘Base Rate’ means the base rate of the country central bank
applicable for the GBP, EUR or USD currency, as relevant;
‘Business Day’ means any day on which the London Stock
Exchange is open for trading;
‘Eligible Custodian’ means a third party custodian (or its Nominee
Company) who PSL selects under FCA Rules to register your
investments with;
‘FCA’ means the United Kingdom Financial Conduct Authority, or
any other regulatory body which assumes its responsibilities from
time to time;
‘FCA Rules’ means the rules of the FCA as set out in the Financial
Services Handbook (http://fshandbook.info/FS/html/handbook), as
amended, supplemented or replaced from time to time;
‘Fees and Charges Sheet’ means the current applicable schedule
of 7IM fees and charges for the Self Invest Service, as updated
from time to time in accordance with these Terms and Conditions;
‘Nominee Company’ means a company which is used solely for
holding investments separately and which does not carry on any
other business;
‘Pershing Agreement’ means the agreement with PSL entered
into by 7IM for itself and on your behalf acting as your agent and
under which PSL will provide clearing and settlement, safe custody
and other associated services, as amended from time to time;
‘Portfolio’ means any portfolio we have opened for your account
as part of providing the Self Invest Service;
‘PSL’ means Pershing Securities Limited;
‘Security Details’ means any user name, password or other 7IM
Web Service access, permission and/or security details provided
by 7IM to you or any of your Authorised Users from time to time;
‘Self Invest Service’ means the execution-only service provided
by 7IM, as described in these Terms and Conditions;
‘Terms and Conditions’ means these terms and conditions;
‘we’, ‘us’ or ‘our’ refers to 7IM; and
‘you’ or ‘your’ refers to the client who has entered into the 7IM
Agreement.
RELATIONSHIP BETWEEN YOU, 7IM AND
PSL
When you read these Terms and Conditions it is important that you
understand that you will be a client of 7IM in relation to the Self
Invest Service, but will also become a client of PSL for settlement
and safe custody purposes.
7IM has responsibility (including responsibility for complying with
any related regulatory requirements) for our own operations and
the operation of your account, and generally for our ongoing
relationship with you. In particular, we are responsible for the
opening of Portfolios for you, making all necessary anti-money
laundering compliance checks, accepting orders and executing or
arranging investment transactions on your behalf. We are also
responsible for holding and controlling cash on your behalf in
respect of any fixed term deposit that you instruct us to facilitate
the placement of through the Self Invest Service, if relevant.
PSL will open and maintain accounts on its books in your name in
order to provide its services to you. When PSL receives any cash
and investments from you or on your behalf, then PSL will record
them in your accounts.
PAGE 2
When PSL provides settlement and clearing or safe custody
services, executes transactions where we have transmitted orders
to PSL to fulfil your instructions, or provides other services to you,
PSL does so relying on the instructions and information we
provide. PSL may rely on and act on any instructions which PSL in
good faith believes were given by 7IM or our representatives. PSL
shall have no liability to you for our performance or otherwise of
any of our obligations under these Terms and Conditions.
You should direct all enquiries regarding your account to us, and
not to PSL. PSL will not accept instructions from you directly.
ACTING JOINTLY OR FOR ANOTHER
If an account is held in the name of more than one person (for
example, joint account holders, co-trustees or partners), then each
such person will have joint and several liability to 7IM under the
7IM Agreement and to PSL under the Pershing Agreement. This
means that each such person separately promises to meet all
obligations in respect of the account jointly with the other person(s)
and also individually.
In addition, 7IM and PSL may discharge any obligation to make
any payment or account to all such persons by making payment or
accounting to any one or more of them.
In the case of a trust account, we and PSL will each treat the
trustee(s) as our client, and not any beneficiary.
We may rely and act on any instruction or communication received
from any account holder or authorised signatory for your account.
Please ensure that we are notified in the event of the death of any
account holder or authorised signatory for your account. Any
instruction or other action we have carried out before we have
received notification of death will be binding. We will treat any
surviving account holder(s) as entitled to the account.
PENSION PRODUCTS
In respect of any account opened with us for investments within a
pension product (if relevant), 7IM and PSL will each treat the
relevant pension scheme trustee as its client. 7IM will (where you
are not the pension scheme trustee) also treat you as our client for
the services we provide to you. Please note that PSL will only treat
the pension scheme trustee as its client in respect of its services.
Accounts in respect of pension products will be in the name of the
relevant pension scheme trustee. Any documents we send to the
pension scheme member relating to these accounts will reflect this.
We will provide information about these accounts, including
transaction details and valuations, to the pension scheme
trustee/administrator and their nominated agents and delegates, as
well as to the relevant pension scheme member, and each party
consents to our disclosure of this information.
You are responsible for all investment decisions made by you, and
we will not check whether instructions you give us comply with any
investment restrictions that apply to a particular pension product
that you have chosen. Failure to comply with any applicable
investment restriction may give rise to tax charges, penalties,
costs, liabilities and other losses and these may exceed the value
of the relevant account. You should carry out due diligence or seek
independent advice as necessary.
Please note that we may rely and act on any instruction or
communication we receive from you (either as pension scheme
trustee or member), although in the case of withdrawal instructions
we will only transfer money out of the account on the instruction of
the pension scheme trustee to their nominated bank account that
we have on our records. We are not liable for any loss or liability
arising as a result of our acting on any such instruction in
accordance with our duties. Pension scheme members should also
be aware that any instruction we receive from the pension scheme
trustee will override any conflicting instruction we receive from
them or on their behalf.
SEVEN INVESTMENT MANAGEMENT
OUR SERVICE
Execution-only service
The Self Invest Service is provided on an execution-only basis.
This means that you are responsible for investment decisions and
decisions on the use of any wrapper or products, and including all
tax, legal, regulatory and accounting consequences of such
decisions. If you would like advice on these decisions, you should
seek appropriate professional advice from a suitably qualified
adviser.
We are under no formal obligation to monitor your investments.
7IM and PSL will not provide you with any financial or investment
advice or offer any opinion regarding the suitability or
appropriateness for you of any transaction or order.
Investments and risks
The Self Invest Service enables you to transact in a wide range of
investments. We may modify or limit the range of available
investments at our discretion.
There may be occasions when an investment in which you wish to
trade is not set up for dealing through the Self Invest Service and it
will be at our sole discretion as to whether we agree to make the
investment available via the Self Invest Service. In these instances
we may have to ask you for more detail, and trading will not be
able to take place until the relevant investment has been set up on
our systems and, following receipt of the first order, a dealing
account has been set up between 7IM and the relevant security
manager.
As you are responsible for all investment decisions made by you,
we will not check whether your investment instructions comply with
applicable legal and regulatory requirements and (if applicable) any
wrapper/product investment restrictions.
You should be aware of the general risks described below which
apply to investments, as well as specific risks which may relate to
particular types of investments and investment strategies.
All investments carry some risk and the level of risk will vary from
investment to investment. Those risks may include some or all of
the following:

The value of investments may fall as well as rise, and in most
cases there can be no guarantee that you will receive back
the amount which you invested.

Past performance of investments is not a guide to future
performance.

In the case of structured products, “guarantees” can only be
as good as the guarantor.

Some investments may not be liquid and may therefore be
difficult to realise.

The income generated by investments can fluctuate and may
not meet original projections.

Some investments are designed to be held for the medium or
longer term and early encashment can reduce the chances of
meeting your objectives.

Changes in taxation policy are not within the control of us or
the providers of investments or investment wrappers, and may
impact performance of investments and investment strategy.

Fluctuations in foreign exchange rates may affect the value of
investments positively or adversely.
We cannot be held responsible if any investment fails to achieve
your expectations.
Fixed term deposits
You may access fixed term deposits from selected banks via the
Self Invest Service. Please refer to our fixed term deposit
information sheets for the indicative interest rates. The choice of
bank and fixed term deposit from the Self Invest Service range is
your decision.
(‘FSCS’) if you qualify as an eligible investor under the FSCS. This
FSCS currently limits claims to a maximum of £85,000 per
depositor. Therefore if you hold deposits with the defaulting bank,
either with 7IM or through other arrangements, you may not be
able to recover the full amount deposited. Further information can
be obtained by contacting us or from the FSCS, www.fscs.org.uk.
You will not be able to withdraw money until the end of the term of
the fixed term deposit.
For further information in relation to fixed term deposits via the Self
Invest Service, please refer to the sections in these Terms and
Conditions headed ‘Interest, dividends and income’, ‘Additions and
withdrawals’ and ‘Your money’ below.
Loans
You may be able to borrow from PSL against your assets held by
PSL. Please contact us for more details. If this is available for you,
please note that any loan would be provided under a separate
agreement between you and the lender, PSL. You should be
aware that 7IM acts as introducer to PSL and not to any other
potential loan provider. This means that we have not assessed the
service which may be offered by any other lender.
Neither 7IM nor PSL will provide you with any advice regarding
either the loan offered by PSL or its suitability for your
circumstances. You should take any independent legal, financial or
other advice which you think you need before signing your loan
agreement.
We are not obliged to monitor or verify how any amount advanced
under a loan is used.
Restrictions
If you are employed by a FCA regulated business or are otherwise
subject to any dealing restrictions, you are responsible for
complying with such restrictions and obtaining all necessary
consents before you instruct us to execute transactions on your
behalf.
Correspondence
All correspondence with you sent by post will be sent to the
permanent address of the first named applicant given in your
account opening documentation or to any other address you have
given us in writing.
Transaction details and contract notes
You agree that you are responsible for ensuring that your Portfolios
are monitored on an ongoing basis and that all instructions given to
us are correct. We will make details of transactions carried out on
your behalf available to you and you will be responsible for
checking that all instructions given have been correctly carried out
and transaction details made available are correct, and if not,
ensuring that corrective action is taken as soon as possible in
accordance with our relevant trading procedures from time to time.
We will send, or otherwise make available, to you a contract note
by the close of business on the Business Day after we have carried
out a transaction on your behalf. It is very important that you notify
us as soon as reasonably possible if you do not receive a contract
note within this timeframe after instructing us to carry out a
transaction for you.
It is also very important that you check the detail of all
contract notes you receive. If you have any questions about
them or become aware of an error, or you receive a contract
note for a trade conducted without your authority, you must
notify us as soon as reasonably possible and in any event
within 5 Business Days of the date of receipt of the contract
note. In the absence of any such notification within this
period, we will treat the contract note as a conclusive record
of the transaction.
You should be aware that fixed term deposits are subject to the
credit risk associated with the bank or banks involved. If a bank
defaults, then you may be eligible to claim under the provisions of
the United Kingdom Financial Services Compensation Scheme
PAGE 3
TERMS AND CONDITIONS
Periodic statements
At least every six months, we will provide you with a statement
which sets out:

investments in your Portfolio(s);

transactions since your last statement;

the current value of your investments; and

the basis on which your investments were valued.
If you wish to receive these statements quarterly, please contact
us. By using 7IM Web Services, you will also be able to view
details of your Portfolio online at any time subject to the availability
of 7IM Web Services.
DEALING
Execution-only service and best endeavours
The decision to buy, sell and hold investments is your decision –
the Self Invest Service will not assist you or comment in any way
regarding the choices made.
We may extend our service by making additional functionality or
online tools available to you from time to time, and your use of any
such functionality or tools will be subject to such additional terms of
use as we may specify.
As the service we provide is for the execution of transactions only,
any information we provide, or information provided by any tools
made available as part of the Self Invest Service, is made available
to investors using the Self Invest Service solely to enable them to
make their own investment decisions. This information is not, nor
does it form any part of, any recommendation or advice as to any
particular course of action.
We make no representation as to the completeness or accuracy of
the information provided via the Self Invest Service and are not
obliged to provide any updates to you. We shall have no liability to
you for any loss, cost, liability or expense arising from your use or
reliance on such information.
We will carry out instructions on an execution-only and a best
endeavours basis. Any transaction carried out for you will be valid
and binding.
Once a decision has been made and you have instructed us as to
the transaction to carry out, it may not be possible to cancel or
change the instruction.
Instructions
We reserve the right, at our discretion, to require confirmation of
any instructions. We further reserve the right, acting in good faith,
to refuse to accept instructions without any liability on our part. In
no circumstances will we be required to act in accordance with any
instruction received where:

the instruction was not received in time for the required action
to be taken;

we reasonably believe that carrying out such instruction may
not be possible or practical or might involve any breach of any
law or regulation;

we reasonably believe such instruction to be unclear or
ambiguous or inaccurately transmitted or not to be genuine; or

we do not have all of the necessary information or
documentation to carry out the instruction.
We will inform you if any instruction you give us is below the
minimum order value that we have in place from time to time.
Orders will also be subject to fund manager minimums and lot
sizes where applicable.
There may be circumstances where PSL refuses to accept any
order or other instruction for your account. For example, PSL may
do so where the transaction falls outside the dealing criteria that
PSL applies.
We will inform you if we or PSL are unable to accept to act on an
instruction received, together with the reason for this unless we or
PSL are prevented from doing so because of any legal or
regulatory constraint.
Best execution
When we execute transactions on your behalf, we are required
under FCA Rules to take all reasonable steps to provide best
execution (where applicable). This means that we must take all
reasonable steps to obtain the best possible result in respect of
that transaction. More details on this can be found in our order
execution policy which is available on the 7IM website at
www.7im.co.uk.
PSL will not owe you a duty of best execution under FCA Rules or
otherwise when it carries out its services with respect to
transactions executed by us on your behalf. In some
circumstances we may transmit orders to PSL for it to execute for
your account. If we do this we have agreed that we, rather than
you, will be PSL’s client for the purposes of the FCA Rules. PSL
will execute such orders in accordance with PSL’s order execution
policy, a summary of which is set out on PSL’s website at
www.pershing.co.uk.
Instructions may be given to us by telephone to 020 7760 8747.
Instructions may also be given by post, fax or by such other means
of transacting as we make available to you from time to time. This
includes (without limitation) any online dealing functionality that we
may make available via any 7IM Web Service. Use of any online
dealing functionality will be subject to any such additional terms as
we may notify to you when such new means of transacting is made
available. We will be able to receive and process instructions
between the hours of 8.00am and 6.00pm on Business Days only.
Transactions will be executed in accordance with our order
execution policy. A copy of our order execution policy is available
on our website at www.7im.co.uk.
Stop loss / limit orders
When you first access your account online through 7IM Web
Services, you will be asked to specify answers to particular security
questions. We will ask you these questions on occasions when we
need to identify you. You must ensure that the answers are known
only to you (or in the case of an account held jointly, by any
account holder) and not revealed to any other person.
If more than one order is received in any security, the orders will be
executed in the order in which they were received. On occasions,
we or PSL (where it is providing dealing or execution services on
your behalf) may combine your orders with orders for other clients
and/or PSL’s own orders. We or PSL will only do this if we or PSL
consider that it is unlikely to work to the overall disadvantage of
you or any of our or its clients involved. However, it is possible that
aggregating orders in this way may sometimes operate to your
advantage and sometimes to your disadvantage by giving you a
higher or lower price than might have been the case if your order
had been placed individually.
We will be entitled to rely and act on any instruction or
communication reasonably accepted as having been given by you
or any other person you notify to us from time to time as being
authorised to give instructions in respect of your account, and
whether or not the authority of any such person has been revoked
unless and until we have received written notice of such
revocation.
PAGE 4
We will not accept instructions for stop loss or limit orders.
Timings
It is our policy to deal with all instructions received in a prompt and
fair manner. We operate an order execution policy which sets out
how we deal with investment instructions and the price we obtain
for clients when executing investment instructions. A copy of our
order execution policy is available on our website at
www.7im.co.uk.
Order priority, aggregation and allocation
In the event that we are unable to fully execute all transactions, we
will allocate between clients on a fair and consistent basis.
SEVEN INVESTMENT MANAGEMENT
Certificated holdings
Certificated holdings need to be transferred into a nominee
account prior to sale. This may result in a delay in being able to
effect the sale. Neither 7IM nor PSL will be liable for any loss
suffered by you as a result of a delay in effecting the sale.
Amounts paid in error
We may reclaim from your Portfolios any payment we have made
in error or to which you are not entitled.
INTEREST, DIVIDENDS AND INCOME
Interest on money
If PSL holds money which is not immediately required to settle an
investment transaction, such money will be deposited with a bank
or credit institution, together with other clients’ money. Money may
earn interest at a rate determined by the relevant bank or credit
institution. However, the amount of any interest on money held in
your Portfolio that will be credited to your account will be
determined by PSL and us, as notified to you in our Fees and
Charges Sheet.
Interest will be calculated on a daily basis and credited every six
months in arrears. If accrued interest is less than £10 over such a
six-month period, no interest will be credited for that six month
period.
Fixed term deposits
Where you instruct us to facilitate the placement of fixed term
deposits on your behalf through the Self Invest Service (if
relevant), please note that any interest rate supplied is indicative
and subject to change without notice. The applicable rate will be
confirmed once cleared funds have been transferred and deposited
at the relevant bank. Interest is payable on maturity.
In addition, in respect of any cash held by us in the 7IM client
monies account before or after transfer to a fixed term deposit, 7IM
pays interest on this cash, which is calculated on a daily basis and
credited monthly. If monthly accrued interest is less than £10, no
interest will be credited for that month. Where interest has been
credited for any month, then that accumulated interest will be paid
on transfer of the cash out of the 7IM client monies account.
Please refer to our fixed term deposit information sheets for the
current interest rate payable.
Subject at all times to applicable regulation, PSL and 7IM shall
each be entitled to retain (as agreed between PSL and us in
respect of money held by PSL) the difference between any rate of
interest that we have notified to you in our Fees and Charges
Sheet will be credited to your account and any higher rate of
interest paid to PSL or us in respect of any client monies held.
Where any applicable interest rate depends on a central bank base
rate, please note that we will not advise you of changes to the base
rate.
ADDITIONS AND WITHDRAWALS
Portfolios
You can add money to your Portfolio at any time. You can
withdraw money from your Portfolio but the withdrawal may be
subject to rules specified by any relevant fund manager including,
for example, if there is insufficient cash available and investments
have to be sold. The relevant manager may have a specified ‘out
date’ or restricted dealing date when cash can be requested. We
may also have to give notice to the relevant manager before the
‘out date’ in order to get your money back. This date is the earliest
date that funds can be released from investment, and can vary
from a week, a month or in some cases, longer. You will not be
able to receive the cash until the transaction has settled and we
have received the money from the relevant manager.
You may instruct us to make withdrawals for you from your
Portfolio at regular intervals. If there is insufficient cash in your
Portfolio to make any such regular withdrawal, we will sell
investments held in your Portfolio to raise sufficient cash
without giving you any further notice. We will first sell any
investment holding which you instructed us to sell for this
purpose when you opened your account (or in any
subsequent instruction we have received from you). If you
have not nominated a specific holding for this purpose, or if
your nominated holding is not able to be realised or its sale
does not raise sufficient cash, we will then sell the largest
holding in your Portfolio at the time (largest by value, not by
number of units or size) and if necessary continue to sell
holdings in your Portfolio in order of largest to smallest value
until sufficient cash is available to make the regular
withdrawal.
In the case of withdrawals, we will only transfer money out of your
account to the bank account that we have on our records. Please
note that, for a pension account, we will only transfer money out of
the account on the instruction of the pension scheme trustee to
their nominated bank account that we have on our records.
We will normally transfer money using the Bankers’ Automated
Clearing System (BACS) to make the transfer, which takes three
business days. If you want money transferred more quickly, we can
use the Clearing House Automated Payment System (CHAPS) but
there will be an associated charge for using this system which we
may pass on to you.
Fixed term deposits
Where you instruct us to facilitate the placement of fixed term
deposits on your behalf (if relevant), you should be aware that fixed
term deposits are subject to the terms and conditions of the
relevant bank, including as to minimum deposit amounts, interest
rates and redemption.
Investment dividends and income
You will not be able to add money to a fixed term deposit during its
term. If you instruct us to roll over your fixed term deposit for a
further term after it matures, you can elect to deposit additional
funds at that time. You can also open additional fixed term deposits
at any time.
Your dividends and income will be retained in your relevant
Portfolio or can be paid to your bank account on a regular basis, as
instructed by you.
You cannot withdraw money until the end of the term. We may
consider a request for the full redemption of your fixed term deposit
before its maturity in exceptional circumstances where early
redemption is permitted by the relevant bank, and subject to any
early redemption penalties, charges and/or forfeiture of interest
which may apply.
PSL will be responsible for claiming and receiving dividends,
interest payments and other entitlements automatically arising in
respect of investments held by it for your account.
Withholdings and deductions
Sometimes PSL or an Eligible Custodian who is holding your
investments, or 7IM when holding cash on your behalf in respect of
any fixed term deposit, may receive dividends, interest and other
rights or payments (as relevant) after local withholding or similar
taxes or other deductions have been made from those sums. You
further accept that PSL or any Eligible Custodian or 7IM may, if
required to do so to comply with legal or regulatory requirements,
withhold or deduct tax or other amounts from any such payments.
If you are eligible to reclaim any such withholdings or deductions,
then this will be your responsibility.
Once matured, the fixed term deposit (including any interest
payable) may be rolled over for a further term as instructed by you,
or we may return funds to your Portfolio or the bank account that
we have on our records.
PAGE 5
TERMS AND CONDITIONS
TRANSFERRING INVESTMENTS
Subject to availability via the Self Invest Service, you may transfer
investments from another provider into your Portfolio. If rebate
payments are payable by any investment provider on any
transferring investments, you consent to us converting those
investments into ‘clean share classes’ of the same investments,
meaning that rebates will no longer be payable on the investments.
Where we have received instructions that, to our reasonable
satisfaction, are valid for the re-registration of your assets and
client money to another platform service or equivalent, you consent
to the transfer of your assets and any client money held for you to
that platform or equivalent service.
circumstances, 7IM will not be executing your orders and shall
therefore not be liable to you for the result obtained.
INTEREST ON DEBIT BALANCES
Interest will be payable by you on any debit balance arising on your
Portfolio at an annual rate of 5% over the Base Rate (except where
the relevant currency is not GBP, EUR or USD and in which case
this rate will be 5% over the debit rate applied by PSL’s relevant
local agent). Interest shall be calculated and charged on a monthly
basis from the relevant due date until the outstanding amount is
paid in full.
CLOSING YOUR ACCOUNT
7IM’s AND PSL’s RIGHTS TO RETAIN AND
REALISE YOUR ASSETS
If you want to close your account with us at any time, you can
instruct us in writing to:

sell all holdings and send you cash;

transfer all holdings (where possible) to another provider or
into your own name.
We will not carry out any dealing instructions unless the cash to
pay for purchases, or the investments to settle sales, are available
in respect of your Portfolio at the time. It is your responsibility to
monitor your Portfolio and to take appropriate action in the event of
failed trades.
Please note the terms applicable to withdrawals above, which may
impact closing your account. Your account will not be able to be
closed until all transactions underway are complete and there are
no outstanding obligations owed by you in respect of the account.
Debit account balances
7IM makes no charge for closing your account, but you should be
aware that third party charges may apply in relation to transferring
your assets.
We reserve the right to treat your account as closed if, for any
period of three consecutive months, no cash or other investments
have been held in the account.
PAYMENT FOR SERVICES
Our fees and charges
We derive income from the fees we charge you, which are based
on the assets held in your Portfolios. Please refer to our Fees and
Charges Sheet for the current fee scales and rates.
The fees are payable monthly in arrears and will be calculated on
the daily closing mid-market value of your Portfolios. Please note
that whilst our fee is based on the value of assets held in your
Portfolios, we apply a minimum fee that will be payable in any
event as detailed in our Fees and Charges Sheet.
Any fees or costs payable by you in relation to the services
provided by PSL will be notified to you on our Fees and Charges
Sheet.
Any Value Added Tax (‘VAT’), or other applicable tax or levy, that
is due or chargeable in relation to any fees or charges will be
added where applicable.
Please refer to our Fees and Charges Sheet in effect at the time
charges are incurred. When our charges change, we will notify you
of the new Fees and Charges Sheet in advance of the changes
taking effect in accordance with the ‘Changes to agreement terms’
section below.
Fees and charges collection
When we collect fees and charges due, we will try to collect them
from your Portfolio in accordance with any instruction you have
given to us as to which Portfolio to deduct fees and charges from.
Please note that, if there is insufficient cash available, we are
entitled to seek to recover any fees and charges due as set out in
the ‘7IM’s and PSL’s rights to retain and realise your assets’
section below.
In collecting any fees under these Terms and Conditions from your
Portfolios, 7IM may convert currencies and carry out foreign
exchange transactions with you or on your behalf at such rates and
in a manner that we determine at our discretion. In such
PAGE 6
If your Portfolio does become overdrawn for any reason (including,
for example, as a result of the deduction of any fees or charges, or
the failure of a sell trade to settle), we reserve the right to refuse to
accept any future or pending instruction. We also reserve the right
to, without giving you further notice, sell or otherwise realise assets
in your Portfolio which are sufficient to remove the debit balance on
your Portfolio in accordance with the disinvestment procedure
described in this section below.
Fees and charges collection
If there is insufficient cash in your relevant Portfolio to discharge
fees or charges due to us or PSL, we will, without giving you
further notice, sell or otherwise realise assets in the Portfolio which
are sufficient to discharge the fees and charges due in accordance
with the disinvestment procedure described in this section below.
We will only take such action if the fees outstanding exceed the
relevant minimum sum as fixed by us and notified to you from time
to time (the ‘Minimum Disinvestment Sum’). In the event that the
outstanding sum is less than the Minimum Disinvestment Sum, we
will carry forward the amount due and apply the disinvestment
procedure below in the event that sums owing and unpaid should
exceed the Minimum Investment Sum in the aggregate.
Disinvestment procedure
If we elect to use the power to realise assets in the
circumstances described above or in the event of your
default, we will do so in the following order of priority:

in the first instance, we will act in accordance with any
disinvestment instruction you gave us for this purpose
when you opened your account (or any subsequent
disinvestment instruction we have received from you);

in the absence of an instruction to sell a nominated
holding for this purpose, or if your nominated holding is
not able to be realised or its sale does not raise sufficient
cash, we will then sell the largest holding in the relevant
Portfolio at the time (largest by value, not by number of
units or size) and continue to sell holdings in order of
largest to smallest value until sufficient cash is available
for the removal of the debit balance or the discharge of
the fees and charges due (as the case may be).
Consequences of your settlement default
If you fail to pay cash or investments (as relevant) when due to
meet any settlement obligations, PSL will have no obligation to
account to you for any investments or cash received for your
account, and will be entitled to retain any such investments or cash
until such time as the relevant obligations have been fully
discharged. PSL may, without providing any advance notice, use
any cash or sell any securities held or received for your account
and use the proceeds (after deducting any costs in doing so) to
eliminate or reduce any unpaid obligations owed to it. PSL may,
SEVEN INVESTMENT MANAGEMENT
without giving you further notice, enter into any other transaction or
do or not do anything which would or could have the effect of
reducing or eliminating any liability under any transaction
undertaken for you. PSL may take similar action where it
reasonably considers that you have not or are unlikely to perform
your payment or delivery obligations to PSL.
General
Where 7IM or PSL exercises rights to sell or otherwise realise your
investments under these Terms and Conditions, neither 7IM nor
PSL shall be liable to you in respect of any choice made by us or
PSL in selecting investments sold or for any loss of profit or gain
incurred as a result. The proceeds of sale (net of costs) will be
applied in or towards the discharge of your liabilities, and 7IM or
PSL (as the case may be) will account to you for any balance. In
the event that such proceeds are insufficient to cover the whole of
your liabilities, you will remain liable for the balance.
In exercising rights under these Terms and Conditions, 7IM and
PSL may convert currencies and carry out foreign exchange
transactions with you or on your behalf at such rates and in a
manner that either 7IM or PSL may, in our or PSL’s discretion,
determine. In such circumstances, 7IM and PSL shall each be
acting on its own behalf and not executing your orders, and shall
therefore not be liable to you for the result obtained.
We and PSL shall each be entitled to combine or consolidate any
of your Portfolios and accounts for the purpose of collecting fees
and charges due and exercising our other rights under these
Terms and Conditions.
You further agree that 7IM and PSL are each authorised to set-off,
transfer or apply (without further notice to you) any obligations or
monies owed by 7IM or PSL to you in order to satisfy (in whole or
in part) any debt or obligation or sum that is due from you to us or
PSL. This applies even if the obligations are in different currencies,
and includes the payment of any fees or charges due to 7IM or
PSL and any amounts due under your obligations to reimburse
(indemnify) 7IM and PSL to ensure that 7IM or PSL does not lose
money as a result of your default under these Terms and
Conditions or the services 7IM or PSL provides to you.
This ‘7IM’s and PSL’s rights to retain and realise your assets’
section will continue to apply even if we or PSL stop providing
services to you, so long as any obligations for your account remain
outstanding. The rights of 7IM and PSL set out in this section apply
in addition to any other right that we or PSL may have, and they
will not be affected by any failure by 7IM or PSL or anyone else to
fully enforce their contractual rights, whether as to payment, time,
performance or otherwise.
YOUR MONEY
Client money
Sometimes we or PSL will undertake a transaction for you which
requires your money or investments to be passed to a relevant
party (including but not limited to an exchange, clearing house,
intermediate broker, settlement agent or a counterparty dealt with
directly ‘over the counter’ outside of any exchange, located in the
United Kingdom or elsewhere) in order to meet the obligations
under that transaction or to provide security for the performance of
obligations under that transaction as ‘margin’ or ‘collateral’. Any
money or investments passed to the relevant party may be at risk
in the event of its insolvency. By accepting these Terms and
Conditions, you acknowledge that this is the case.
Money held overseas
If your money is held by a credit institution or bank outside the
United Kingdom or European Economic Area, or your money or
investments are passed to a third party, then it is important you
understand the legal and regulatory regime applying to that credit
institution, bank or other third party will be different to that of the
United Kingdom or the European Economic Area. This means,
amongst other things, that the rights and protections you have
under the FCA Rules will not be available in respect of those banks
or credit institutions or third parties. Other rules and regulations
may apply to them under local law but your rights and obligations
are likely to differ, particularly if such party is in default.
Group companies
PSL is part of the Bank of New York group of companies. PSL may
use a bank which is affiliated to PSL to hold client money on your
behalf.
Unclaimed balances
If any of your money held by PSL is unclaimed after a period of six
years, PSL may cease to treat that money as client money and
may include it as part of its own assets. PSL will only do this after it
has taken reasonable steps to trace you and return any balance to
you. If you then later show a valid claim for the money to PSL, it
may then pay you any amount owed to you.
Fixed term deposits
Money in any fixed term deposit which you have instructed us to
facilitate the placement of on your behalf through the Self Invest
Service (if relevant) will be held and controlled by 7IM in
compliance with FCA Rules which, amongst other things, require
us to hold your money in a client bank account established with
statutory trust status. Your funds will therefore be segregated from
7IM’s own funds at an approved bank or banks (as such terms are
defined in the FCA Rules). The approved bank may hold such
money with our other clients’ money in a pooled client bank
account. Where client money is held as part of a common pool of
money, this means that you will not have a claim for the specific
sum in a specific account. Your claim would be against the client
money pool in general and if there is a deficiency in the pool you
would share pro rata in that loss.
Money held by PSL for your account will be held in compliance
with the FCA Client Asset Rules when these apply to the money.
This means, amongst other things, that PSL will hold your money
in a special designated client bank account which is kept separate
from PSL’s own funds.
7IM will exercise due skill, care and diligence in the selection and
periodic review of any approved bank where your money is
deposited in fixed term deposits. It is important to note that 7IM is
not responsible for any acts, omissions or default of any such bank
chosen by it but only for taking care in its choice and monitoring.
When PSL holds your money in a client account, it may be pooled
with money belonging to other clients of PSL. Where client money
is held as part of a common pool of money, this means that you will
not have a claim for the specific sum in a specific account. Your
claim would be against the client money pool in general and if
there is a deficiency in the pool you would share pro rata in that
loss.
CUSTODY OF YOUR INVESTMENTS
When considering where that client bank account should be, PSL
will exercise due skill, care and diligence and will periodically
review the adequacy and appropriateness of any bank or credit
institution (other than a central bank of a country) where your
money is deposited and of the arrangements for holding your
money. It is important to note that PSL is not responsible for any
acts, omissions or default of a credit institution or bank chosen by it
but only for taking care in its choice and monitoring.
In some situations, for example where the rules of a particular
market require it to do so, PSL will register your investments in the
name of an Eligible Custodian. PSL will not usually register
investments in your name, but if it is required to do so you shall
remain responsible for the consequences of any such registration.
Safekeeping and registration
Investments which PSL holds for your account will be registered in
the name of a Nominee Company controlled by PSL or a member
of PSL’s group.
Overseas investments may be registered or recorded in the name
of PSL or in the name of an Eligible Custodian. Your acceptance of
these Terms and Conditions indicates your consent to the
PAGE 7
TERMS AND CONDITIONS
possibility of registration in this manner. However, registration in
one of these ways will only be done after PSL has taken
reasonable steps to determine that it is in your best interests to do
so or that it is not feasible to do otherwise because of the nature of
applicable law and market practice in the relevant jurisdiction.
Registration in this way means that your investments may not be
kept separate from other investments belonging to PSL or the
relevant Eligible Custodian. Your protection may therefore be less
because if the person in whose name your investments are
recorded defaults on its obligations, your investments may not be
separately identifiable as yours. Accordingly, your investments may
be subject to other third party claims, including claims by the
general creditors of the relevant defaulting person.
Whether or not they are registered or recorded in the name of PSL
or an Eligible Custodian, investments belonging to you which are
held abroad may be subject to different settlement, legal and
regulatory requirements from those applying in the United Kingdom
or the European Economic Area. Your rights may therefore also
differ.
When your investments are held by a depository or an Eligible
Custodian, they may have rights against the assets held. These
rights may include security rights over the assets (including but not
limited to a security interest, mortgage or charge), rights to
withhold or retain the assets, and/or other rights to have any such
asset paid or transferred to them, to prevent a transaction involving
the asset from going ahead, or to be paid any or all of the proceeds
of a transaction involving the asset.
PSL will exercise due skill, care and diligence in the selection,
appointment and periodic review of any Eligible Custodian and the
arrangements for holding and safekeeping of your investments. It
is important that you understand that PSL is not responsible for
anything done or not done by, or any default of, an Eligible
Custodian unless that default is caused by the negligence, fraud or
wilful default on the part of PSL or any of its group Nominee
Companies. Although PSL will seek to make sure that adequate
arrangements are made to look after your ownership rights in any
investments (especially in the event of its own insolvency), you
should understand that your investments may be at risk if an
Eligible Custodian becomes insolvent.
In some circumstances PSL may refuse to hold any investment or
investments on your behalf. This may occur if, for example, the
investment concerned is of a kind for which PSL does not have
facilities or arrangements with appropriate Eligible Custodians to
hold the investment, or if holding the investment would expose PSL
to liabilities. We will notify you if PSL chooses to exercise this
discretion, together with the reasons for its decision unless legal or
regulatory constraints prevent such disclosure.
Pooled accounts
PSL shall keep a record of your entitlement to your investments in
situations where PSL or an Eligible Custodian (or a Nominee
Company) have registered or recorded your investments in a
combined account, or pooled in some other way, with investments
belonging to other clients of ourselves or PSL or the Eligible
Custodian. In such a situation you should note that your individual
entitlements may not be identifiable by separate certificates,
physical documents or equivalent electronic entries on the register.
If there is an irreconcilable shortfall following any loss by or default
of PSL or the Eligible Custodian or Nominee Company, then you
may not receive your full entitlement and may share in any shortfall
on a pro rated basis with any other investors.
Further effects of pooling can be that:

sometimes PSL will receive investments or money on behalf
of more than one client in connection with pooled holdings (for
example, in a bonus or rights issue or takeover). In such
circumstances PSL may, in accordance with FCA Rules,
allocate such investments between clients on whatever basis
it considers fair and reasonable;

if a share issue or other corporate event favoured the small
investor, your actual allocation may be less than it would be if
your investments were registered in your own name; and
PAGE 8

sometimes amounts or investments may arise which would
not have arisen if those investments been registered in your
own name. You may not be entitled to any such additional
amounts.
Safe custody statements
PSL will send you an annual safe custody statement of the
investments and cash balances it holds for you.
Administration
Any instructions you wish to give about the administration of your
investments should be given to 7IM for us to send to PSL. PSL will
not accept any direct instructions from you.
Shareholder voting rights and benefits
We will not notify you regarding proxy voting rights arising from any
of your investments. If you wish to attend or otherwise vote in
relation to share, asset or unit holding meetings, you should
contact us.
Some companies provide benefits to shareholders relating to the
nature of their business. These benefits will not necessarily be
available to you automatically, as your shares will be registered in
the name of a nominee. Should you wish to receive these
additional benefits, you should contact us to make the necessary
arrangements.
Rights issues, takeovers, etc.
PSL will inform us of any corporate actions which affect
investments in your Portfolio. It will do so as soon as reasonably
practicable after receiving notice of those events. We will in turn
inform you by email of all voluntary corporate actions in respect of
which you have a decision or an election to make. We will not
notify you of any mandatory corporate actions, meaning that
the outcome is not something over which you have a choice.
We will seek instructions from you in respect of voluntary corporate
actions, for onward transmission to PSL, on matters such as:

exercising conversion or subscription rights;

dealing with takeovers or other offers of capital
reorganisations; and

exercising voting rights (where PSL exercises such rights on
your behalf).
We do not offer the opportunity to elect for ordinary scrip dividends.
If a corporate action is a rights issue that requires additional funds
from you and you decide to take up the rights, it is your
responsibility to ensure cleared funds are available in your Portfolio
by the time stated in the notice.
In the event of your failure to respond in accordance with the terms
of the notice, any default option specified in the notice shall be
applied on your behalf.
If we notify you of a corporate action, you are responsible for
ensuring that you provide instructions to us by the time stated in
the notice. The consequences of any failure by you to give us
instructions and any default option applied on your behalf or any
alternative instructions we receive from you will be entirely your
responsibility. We are not obliged to do more than give one
notification on each relevant matter.
SETTLEMENT
When transactions are undertaken on your behalf, they will be due
for settlement in accordance with market requirements. These
settlement terms will vary depending on the market and securities
dealt in. Instructions for non-standard or extended settlement will
not be accepted.
If a transaction is undertaken on your behalf on non-United
Kingdom markets, it will be subject to the rules of the relevant
overseas exchange, clearing system and/or depository and to any
terms of any foreign agent or custodian employed by PSL. These
rules and terms may include (but are not limited to) such persons
SEVEN INVESTMENT MANAGEMENT
having the right to reverse a transaction even after it has settled. In
view of the number of markets and counterparties which may be
used, it is not possible to outline all of the potential rules and
obligations that may apply in such cases.
It is your responsibility to ensure that you transfer all necessary
investments, documents or cash (as the case may be) in order for
PSL to settle the transaction on your behalf. PSL must receive any
cash in cleared funds in sufficient time before the settlement date
in order that it can make the necessary payment to enable
settlement of a transaction executed on your behalf. You undertake
that any cash or investments transferred to PSL by you will be free
from any right of a third party to make claims against that money or
those investments so that settlement of your transactions can take
place.
You agree that you will not have any rights to cash or investments
which are due to be received by you following a transaction until
you have performed your own obligations in relation to that
transaction and PSL has been able to settle that transaction on
your behalf. Similarly, PSL has no obligation to account to you for
any such cash or investments until you have performed your
obligations and the transaction has been settled. Until that has
happened, PSL is entitled, without giving you any further notice, to
sell or otherwise dispose of any such investments and apply the
proceeds or any cash it receives in relation to the transaction in
order to discharge or reduce any of your obligations in relation to
the transaction.
In order to settle transactions on your behalf, PSL will need to deal
with the other party to the transaction (the ‘counterparty’) and
sometimes transactions will be settled through a central
counterparty or a central securities depository or other securities
settlement system or other depository, transfer agent or similar
body. When PSL deals with these parties, it does so as your agent,
in good faith and on the basis that:

PSL is not responsible for any default or failure of the
counterparty or of any depository or agent of those entities;
and

the delivery of any securities or payment to you as a result of
the transaction is entirely your risk and not that of PSL.
PSL is not obliged to credit any cash or investments it receives to
your account until it has received them in irrevocable and
unconditional settlement of the relevant transaction without the
sender being able to reverse the settlement or require redelivery. If
for any reason PSL does credit cash or investments to your
account earlier than this and PSL reasonably considers that
irrevocable and unconditional settlement is unlikely to take place,
then PSL will be entitled to reverse the entry and require you to
give back or redeliver the cash or investments or their equivalent.
In some cases, transactions will be subject to netting. Netting is the
process under which PSL and/or the counterparty, central
counterparty, central securities depository or other body concerned
with settling a transaction are entitled to reduce their obligations to
each other by setting off their obligations to deliver cash or
securities to one another. This will give a single amount owing to
one party from the other rather than a two-way payment. This
single amount will then be paid or delivered to the relevant party.
You agree, in respect of any transaction which is subject to netting,
to discharging the settlement obligations on a net basis in
accordance with the rules of the relevant central counterparty or
central securities depository or relevant agreement with the
counterparty (as the case may be). You acknowledge that if net
settlement takes place, then PSL will only be obliged to account to
you for any investments or cash in connection with the transaction
on a net basis. In addition, you agree that PSL shall have no
liability to you in connection with the exercise by any central
counterparty, central securities depository or their respective
agents of their powers (under any power of attorney or equivalent
right or power) in respect of any settlement account operated by or
on behalf of PSL in connection with the settlement of any
transaction.
Transactions executed on your behalf may settle in the books of a
central counterparty, central securities depository or other body or
custodian combined with transactions for the account of other
clients of ours. If this happens, then PSL will allocate between our
clients the cash or investments received by it or on its behalf as a
result of the settlements in accordance with the client trades we
have notified to it. If PSL receives cash or investments for trades
that were intended to settle at the same time (but which, for
whatever reason, do not do so), then PSL will allocate that cash or
investments received in accordance with any priority for
settlements determined by PSL before the transactions took place,
or if transactions have the same priority then in order of intended
settlement date so that the earliest in time will settle first in each
case, or if transactions have the same priority and intended
settlement date the allocation will be by value so that the larger or
largest trade by value will be settled first in each case. Where
these allocations are necessary, they will also be subject to the
operations of the relevant central counterparty, central securities
depository, custodian or other entity, which may include a netting
rule or practice, automatic splitting of unsettled transactions or
other automatic aggregation, splitting or allocation.
You acknowledge and agree that:

PSL does not owe any duty to us, you or any other person to
verify the appropriateness, adequacy or effectiveness of the
rules, requirements and procedures of any market or central
counterparty, or in relation to any exercise or non-exercise by
the market or the central counterparty of its rights or powers
under such rules, requirements and procedures; and

PSL shall have no liability for any loss or damage suffered or
incurred by reason of PSL taking or failing to take any action
where such action or failure to take action is authorised,
permitted or required by a market or a central counterparty or
is otherwise deemed necessary by PSL under the rules,
requirements and procedures of the market or the central
counterparty.
ISAs
Opening an ISA
The 7IM ISA is a Stocks and Shares ISA.
To open an ISA we must receive a signed and completed ISA
application form from you, and you must ensure that cash in
cleared funds is transferred to PSL or available in an existing
Portfolio for transfer to your ISA for any amount up to the
subscription allowance. Incomplete application forms may have to
be returned to you.
You can keep cash in your ISA and this can remain un-invested
but you should note that no flat rate charge (previously payable to
HMRC) will be deducted from any interest paid on this cash. It is
your responsibility to ensure that any tax due by you on interest is
paid.
7IM is the Plan Manager for 7IM ISAs and will, in conjunction with
PSL, reclaim UK tax but will not reclaim tax on foreign dividends
paid in ISAs.
Company reports
If you decide that you want to receive a copy of the annual report
and accounts issued by every company or other concern in respect
of shares, securities or units which are held directly in your ISA, we
will arrange for you to receive them. We can also arrange for you:

to attend shareholders’, securities holders’ or unit holders’
meetings;

to vote; and

to receive, in addition to the annual report and accounts, any
other information issued to shareholders, securities holders or
unit holders.
Transfers of ISAs
7IM generally make no extra charge when receiving plans from
other managers, but reserve the right to do so. We may also have
to pass on any charges incurred for moving any holdings from
overseas custodians or re-registration charges.
PAGE 9
TERMS AND CONDITIONS
If you wish to transfer an ISA to another approved manager willing
to accept the transfer, we will usually complete the transfer within
30 days of receiving written instructions from you. 7IM makes no
charge for transfers out, but you should be aware that third party
charges may apply in relation to transferring your ISA.
Transfers of stock in certificated format may be liable to a charge
for stamp duty and/or charges from PSL.
We are able to make and accept partial transfers of ISAs.
ISA management
7IM will make claims, conduct appeals and reach agreement on
your behalf for tax reliefs. We shall ensure that PSL and any other
agents or third parties to whom such responsibilities and other
functions are delegated are competent to carry them out. We will
display on our website the amount of cash held within your account
pending reinvestment. We will advise you if an ISA becomes void
through any failure to meet HM Revenue & Customs ISA
regulations. If a previously qualifying investment should no longer
qualify, 7IM will propose selling the investment and reinvesting in
the account, or transferring it out of the account. As warrants
arising other than through an investment trust public offer for sale
may not be held in an ISA, they will be sold and the proceeds
retained in the ISA pending reinvestment in an eligible stock.
ISA closure
You can close your ISA as a whole or take out part at any time
(providing any outstanding fees are paid). There is no charge for
partial withdrawals of cash. Partial cash withdrawals shall be
treated as capital (i.e. not interest) under HM Revenue & Customs
regulations.
ISA termination
An ISA automatically terminates when the plan holder dies. Any tax
claimed back from a dividend received after that date must be
repaid. The ISA will be valued for probate as at the date of death
and dealt with as instructed by the executor or administrator of
your estate. 7IM may terminate a plan if, in our reasonable opinion,
new statutes or regulations make its continuation impracticable.
We shall not be responsible for any loss that results except to the
extent that such loss arises directly from our negligence, breach of
regulation or fraud.
HM Revenue & Customs regulation
The management of your ISA shall be subject to the rules and
regulations of HM Revenue & Customs. In the event of any conflict
between these Terms and Conditions and HM Revenue &
Customs regulations, the HM Revenue & Customs regulations
shall be overriding.
7IM WEB SERVICES
Access and Security Details
In order to be able to access and use the Self Invest Service and
7IM Web Services, you must provide us with a valid email address
when requested to do so during the application process.
We will allocate Security Details to you and anyone else you may
nominate as an Authorised User. If at any point any Authorised
User’s access and/or permissions should be removed or changed,
it will be your responsibility to ensure that we are notified as soon
as possible so that we can disable or update their Security Details
as required.
You shall be fully responsible for the use of any Security Details,
and shall ensure that Security Details are kept confidential and not
disclosed or otherwise made available to any person other than
any relevant Authorised User(s). To avoid accidental disclosure,
Security Details should not be recorded in any form by which they
could be recognised as such. If you or any Authorised User
becomes aware that any Security Details have been disclosed to
or become known by any other person, you must ensure that we
are notified as soon as reasonably possible. Access to 7IM Web
Services may be suspended until we have allocated new Security
Details.
PAGE 10
7IM Web Services
Where we grant you or any Authorised User(s) (if relevant) access
to any 7IM Web Service, you and your Authorised User(s) will be
able to, amongst other things, view details of your Portfolios online.
You are responsible for ensuring that any Authorised Users are
aware of and comply with all relevant provisions of these Terms
and Conditions when accessing or attempting to access and using
any 7IM Web Service.
7IM Web Services do not offer any specific advice or
recommendation on any particular investments, either within your
Portfolios or otherwise. Any general advice or other information
which may be contained in any 7IM Web Service is non-specific
and of a generic nature only. Any reliance by you on any such
information is entirely at your own risk.
We do not accept liability for pricing information. Any prices shown
on any 7IM Web Service are unlikely to be the order price when
buying or selling investments, and will be either indicative at the
time or the most recently available price from the relevant third
party data provider. Live market prices are subject to constant
change.
Nothing on any 7IM Web Service constitutes an offer for sale or
subscription of, or any invitation to offer, to buy or subscribe for,
any securities, nor constitutes any financial or investment advice or
recommendation.
You acknowledge and agree that wherever any request or
instruction is communicated to us by a person using Security
Details allocated to you or any of your Authorised Users, we shall
be entitled to rely and act on that request or instruction without
obtaining any further confirmation from you and you will be bound
by such request or instruction and any resulting transaction.
Notwithstanding this, we reserve the right, in our discretion, to
require confirmation of any particular request or instruction. We
further reserve the right, acting in good faith, to refuse to accept
any request or instruction which we believe or suspect not to have
been validly authorised.
Security and availability of 7IM Web Services
You acknowledge the electronic nature of 7IM Web Services. We
will use reasonable endeavours to ensure that 7IM Web Services
are secure, and that 7IM Web Services remain accessible during
normal business hours, but accept no liability for any loss or
damage suffered by any person as a result of any breach of 7IM’s
security measures or unavailability of any 7IM Web Service,
howsoever this may arise and including (but not limited to) where
resulting from any factor outside our reasonable control. Please
also read the ‘Limits on 7IM’s and PSL’s liability’ section below for
a description of factors that would be outside our reasonable
control.
Our rights to vary, suspend or withdraw 7IM Web
Services
You acknowledge that we may vary the mode of operation of, or
the content, presentation, performance, availability of, or facilities
comprising, any 7IM Web Service from time to time, or withdraw or
terminate any 7IM Web Service at any time without you having any
recourse to us. We shall endeavour to, but without having any
obligation to do so, give advance notice of any changes unless it is
impractical to do so in the circumstances. In any event, we reserve
the right to withdraw or suspend any 7IM Web Service at any time
at our discretion and without notice. This is subject to the proviso
that any termination of the Self Invest Service will be notified to you
in accordance with the ‘Cancellation and termination’ section
below.
Permitted use of 7IM Web Services
The intellectual property rights in all elements of 7IM Web
Services, including but not limited to software, databases, data and
other information used or accessed through 7IM Web Services,
shall remain vested in us and/or our licensors, and you and your
Authorised User(s) (if relevant) will not acquire or retain any
proprietary right, interest or title in such elements.
SEVEN INVESTMENT MANAGEMENT
You may use any 7IM Web Service to which we grant you access
from time to time but solely to the extent permitted by these Terms
and Conditions and any supplementary terms and conditions for
that 7IM Web Service that we may notify to you. In particular, you
and your Authorised User(s) (if relevant) must not copy, reproduce,
redistribute, publish or commercially exploit any software,
database, data or other information accessed, and must not
remove any copyright or other proprietary notices from such
information. You acknowledge that you would be responsible for
obtaining the relevant third party licence for any reproduction
and/or extraction or redistribution of any third party data contained
within our products or services.
result of our respective negligence, fraud or wilful default or breach
of applicable regulatory rules, and then only for any losses which
(a) arise naturally from a breach of 7IM’s or PSL’s obligations and
(b) were reasonably foreseeable to 7IM or PSL.
7IM Web Services, or any data or other information accessed via
7IM Web Services, must not be used for any unlawful or improper
purpose. We may suspend access to any 7IM Web Service that we
believe you or any of your Authorised Users may be using in an
unauthorised or improper manner.
YOUR RESPONSIBILITIES TO REIMBURSE
7IM AND PSL
You acknowledge that access to all or part of 7IM Web Services
may be restricted or prohibited by law in jurisdictions outside
England and Wales. We are not responsible for ensuring that any
access and use of 7IM Web Services by you, and your Authorised
User(s) if relevant, complies with applicable local laws and shall
have no liability to you in this regard.
The licence to use 7IM Web Services granted to you in these
Terms and Conditions is personal to you. Other than use of 7IM
Web Services by your Authorised Users (if relevant) as permitted
by these Terms and Conditions, this licence cannot be transferred
to anyone else, and will automatically terminate on the termination
of our relationship under these Terms and Conditions.
LIMITS ON 7IM’s AND PSL’s LIABILITY
Neither 7IM nor PSL is responsible or liable to you for any failure,
interruption or delay in performing our respective services or for
any resulting losses you incur which are caused by, wholly or
partly, events or circumstances outside the reasonable control of
7IM or PSL. This includes (but is not limited to) delays or
inaccuracies in the transmission of instructions or other information
(or any resulting action or failure to act) where that delay or
inaccuracy is a result of factors outside the reasonable control of
7IM or PSL, and this means that if the delay or inaccuracy is not
7IM’s or PSL’s fault, then you cannot obtain redress from either of
us. Factors that are outside the reasonable control of 7IM or PSL,
include (but are not limited to) an act of God, fire, pandemics, flood
or other natural disaster, industrial disputes, the act or regulations
of any governmental or other body, civil commotion, political crises,
terrorist action, market conditions, any suspension or limitation of
trading by any exchange or clearing house, any breakdown, failure
or malfunction of any communication, settlement, computer or
accounting system or equipment, or any failure, interruption or
delay in the supply of data. Furthermore, neither 7IM nor PSL shall
be liable for any losses you incur if we fail, interrupt or delay in
performing our obligations in order to avoid damage to either 7IM’s
or PSL’s employees, property or reputation. In any of these (or
other similar) circumstances, any or all of our and PSL’s respective
obligations will be suspended until the event or state of affairs
giving rise to the failure is remedied.
The liability of each of 7IM and PSL (and where relevant our
respective directors, officers, employees and agents) to you for any
loss or damage which you suffer in connection with our or PSL’s
services, or your agreements with each of us and PSL, shall be
limited to circumstances where any such loss or damage has
arisen directly as a result of the negligence, fraud or wilful default
of 7IM or PSL, or of breach of FCA Rules by 7IM or PSL (or where
relevant, our or PSL’s respective directors, officers, employees or
agents).
Neither 7IM nor PSL shall be liable to you for any indirect or
consequential losses (howsoever arising). Nor will 7IM or PSL be
liable for any loss that is a loss of profit or for any losses that arise
from any damage to your business or reputation. This means that
7IM and PSL will each only be liable for losses that arise as a
PSL is responsible for the acts and omissions of any group
company, including any group Nominee Company, to the same
extent as for their own acts or omissions.
Nothing in these Terms and Conditions shall be read as limiting or
excluding any liability of 7IM or PSL for death or personal injury or
for any breach of the FCA Rules.
It is important that you understand that you are responsible for
making sure that neither 7IM nor PSL suffers by reason of acting
for you. In accepting these Terms and Conditions, you agree to
make good and reimburse (indemnify) each of 7IM and PSL, after
the deduction of any applicable taxes, for and against any liability,
damage, loss, cost, claim or expense (including legal costs) which
are caused by 7IM or PSL providing services to you or any default
or failure in the performance of your obligations. This would include
(but not be limited to) any such loss resulting from a failure by you
to make a payment or delivery of investments when due, or any
defect in title or fraud or forgery in relation to any investments
delivered to PSL by you or on your behalf or in relation to any
document or electronic information which appears to transfer such
investments.
You will not be liable to reimburse 7IM or PSL against, and 7IM
and PSL will have no right to claim against you in respect of, the
consequences to 7IM or PSL caused by our or PSL’s own
negligence, wilful default, fraud, breach of agreement with you or
breach of applicable laws or regulations.
Your obligations to 7IM and PSL in this section will continue to
apply even if we or PSL stop providing services to you and you
transfer your account elsewhere.
CHANGES TO AGREEMENT TERMS
We may make changes to the 7IM Agreement (or issue a
replacement set of these Terms and Conditions) from time to time.
We can do this for the following reasons:

to conform with any legal or regulatory requirement, FCA
Rule, Prudential Regulation Authority rule, HMRC rule or code
of practice, or industry guidance, or with any change or
anticipated change to the same;

to reflect any decision or recommendation by a court or the
Financial Ombudsman Service;

to allow for the introduction of new or improved systems,
methods of operation, services or facilities;

to reflect changes in market practice for services which are
akin to the Self Invest Service and to maintain our
competitiveness in the market place for such services;

to reflect changes in how the London Stock Exchange or other
relevant investment or regulated markets may work which
may impact on the operation of your account;

to reflect changes in investment/share dealing administration
or other infrastructure facilities, systems or means of
communication which impact on the provision and operation of
your account and which are outside of our control;

to proportionately reflect changes in the cost of providing our
services to you, including any direct costs we are required to
pay to others;

to reflect changes to services relating to your account supplied
to us by third parties and which are outside of our control;

to reflect changes in circumstances or the happening of any
event which is outside of our control and which means that
these Terms and Conditions operate in a way which is unfair
to you or our other account holders;

to reflect changes in circumstances or the happening of any
event which is outside of our control and which makes it
PAGE 11
TERMS AND CONDITIONS



impossible, impracticable or economically unviable for us not
to make a change to these Terms and Conditions, provided
that any such change is not unfair to you or our other account
holders;
to remedy any errors, omissions or ambiguities which we may
discover in the future;
to otherwise make them clearer or more favourable to you; or
for any other valid reason, subject to such change being
proportionate to the circumstances giving rise to it.
If we change any of these Terms and Conditions, we will give you
at least 30 days' written notice of any change that is to your
disadvantage except where the change is required sooner in order
to comply with regulations (in which case we will give you notice of
the change as soon as reasonably practicable). Otherwise we will
endeavour to give you written notice of any changes in reasonable
time for you to consider them, unless it is impractical in the
circumstances to give such notice.
If you are not happy with a change, you may terminate your
account under these Terms and Conditions in accordance with the
‘Closing your account’ section above, and we will not charge you
for terminating your account.
No change will affect any outstanding order or transaction or any
other legal rights or obligations which may have arisen before the
date of the change.
We may also agree changes to the Pershing Agreement in
accordance with its terms as agent on your behalf and we will
notify you as above in respect of any such changes.
CANCELLATION AND TERMINATION
You may, by notice in writing, cancel an agreement for any account
under these Terms and Conditions within 14 days of
commencement. We will return to you any money or assets which
have already been transferred to the account we opened for you.
You should be aware that any reasonable expenses incurred by us
in respect of transactions instructed by you before the cancellation
will not be refunded. Also, if any investment transactions have
been carried out, you will be liable for any price movement.
PSL will have the right, acting reasonably and after giving
reasonable notice having regard to its legal and regulatory
obligations and the relevant circumstances, to stop providing
services to you and close any accounts it holds and maintains in
your name. This may occur, for example, if PSL is obliged to stop
providing services under any applicable law or regulation (such as
anti-money laundering provisions), if you are in material breach of
these Terms and Conditions, or if your liabilities in relation to your
account and amounts owing to PSL exceed or are likely to exceed
the value of the assets PSL holds for you. We will inform you of the
reasons for PSL’s decision unless we or PSL are prevented from
doing so by some legal or regulatory constraint. PSL is required to
ensure that any such termination and account closure is made with
a view to reducing any detriment to you, subject to its legal and
regulatory obligations and established policies and procedures.
We may, on written notice to you, acting reasonably having regard
to our legal and regulatory obligations, terminate the 7IM
Agreement and close your account(s) with immediate effect if:

we are obliged to do so in accordance any applicable law or
regulation;

we reasonably consider that you are using the Self Invest
Service for illegal or fraudulent activity; or

PSL should terminate the Pershing Agreement as described
above.
Otherwise, should we wish to terminate our agreement and close
your account(s), we will give you at least 28 days’ notice of our
intention to do so. Any charges accrued to 7IM will be due and
payable at the expiry of this notice period.
You may terminate your agreements with us and PSL and close
your account(s) at any time by requesting closure of your
account(s).
PAGE 12
You will need to give us instructions for the return or transfer of
your assets. 7IM makes no charge for closing your account, but
you should be aware that third party charges may apply in relation
to transferring your assets. Please refer to the ‘Closing your
account’ section above for further details.
DEATH
If you die, we need to receive formal notification of your death. We
will treat any surviving account holder(s) as entitled to the account.
In the event of the death of the sole account holder, existing
investments will continue to be held in your Portfolio under these
Terms and Conditions, but money will not be able to be withdrawn
(with the exception of payments for funeral expenses, or to HM
Revenue & Customs for inheritance tax purposes, subject to our
receipt of appropriate authority). Once we have received the grant
of representation from your estate, we will act on the instructions
received from the executor or administrator. Please note that any
fixed term deposits will continue to be held until maturity, except
where early redemption is instructed by the executor or
administrator and permitted by the relevant bank, and subject to
any early redemption penalties, charges and/or forfeiture of interest
which may apply. We will then pay amounts from the sale or
redemption of investments in your Portfolio in accordance with the
instructions received from the executor or administrator. We will
not provide investment advice to the executor or administrator. We
are not responsible for any losses to your Portfolio during the
period between your death and us receiving formal notice of it.
Until we sell, redeem or transfer the investments, they will be
subject to daily price movements as normal, and we are not
responsible for any losses as a result of us not being able to
operate your Portfolio following your death.
OTHER MATTERS
Conflicts of interest
7IM does not hold principal positions or deal on its own account.
However, occasions can arise where we or one of our other clients,
or some other person or company connected with us, or PSL or
any of its associated group companies or nominees, will have
some form of interest in business which we are transacting for you.
We require our staff to disclose to management any conflict of
interest of which they are aware. If we become aware of any
conflict with your interests, we will proceed in accordance with the
conflicts of interest policy we have put in place to deal with such
situations. A copy of our policy is available by contacting us or on
the 7IM website at www.7im.co.uk.
A summary of PSL’s conflicts policy is available on PSL’s website
at www.pershing.co.uk. Examples where actual or potential
conflicts may happen include situations where PSL or any of its
associates is, or is acting on behalf of, the counterparty to a
transaction, or has a long or short position in the relevant
investment, or is connected to the issuer of the relevant
investment. PSL may receive payments from fund managers
(calculated by reference to the value of assets that PSL holds in
custody for its clients) if PSL provides services to those fund
managers through its trading platform. PSL may place money held
for your account with a bank or other financial institution (in
accordance with FCA Rules) and earn interest and retain some or
all of that interest. Neither PSL nor any of its associates is required
to disclose or account to you for any profit made as a result of
acting in any such manner.
Call recording and communications
We may communicate with you by telephone, post, email, fax and
through 7IM Web Services. We are entitled to rely on any
communication from you which we receive.
All telephone calls may be recorded and such recording remains
the property of 7IM. You accept that we may rely on these
recordings in the event of a dispute.
E-mail messages may not be secure. You acknowledge the
inherent risk that electronic communications may not be received,
SEVEN INVESTMENT MANAGEMENT
or may be delayed, altered or intercepted during transmission, and
we accept no liability for any loss or damage that you may incur as
a result. We advise you not to use e-mail to send confidential
information or communications which require our immediate
attention. We may monitor electronic communications which we
receive or send.
All communications, whether written, spoken, electronic or in any
other form, between you, us and PSL shall be in English.
Complaints procedure
If you are dissatisfied with the service we have provided under
these Terms and Conditions, please write to:
The Client Care Manager
Seven Investment Management
125 Old Broad Street
London EC2N 1AR
If, however, your complaint concerns an aspect of the service
provided to you by PSL and you wish to copy your complaint to
PSL directly, copies should be sent to:
The Compliance Officer
Pershing Securities Limited
One Clove Crescent
East India Dock
London E14 2BH
We and PSL will endeavour to resolve your complaint as quickly as
possible but in any event will acknowledge receipt of your letter
within five Business Days. Upon resolution of your complaint we or
PSL will send you a final response letter, which sets out the nature
of that resolution and any applicable remedy. Details of our internal
complaints handling procedure are available on request.
If for any reason you are dissatisfied with our or PSL’s final
response, please note that you may be entitled to refer your
complaint to the United Kingdom Financial Ombudsman Service.
Further information on this procedure is available on request or by
visiting www.financial-ombudsman.org.uk.
Financial Services Compensation Scheme
7IM is a participant in the United Kingdom Financial Services
Compensation Scheme (‘FSCS’), which, subject to certain
exceptions, provides limited compensation in respect of eligible
liabilities if 7IM is in default. PSL is also covered by the FSCS, and
compensation may be available from the FSCS if PSL cannot meet
its obligations to you. Your possible entitlement to compensation
will depend upon the type of business and the circumstances of the
claim. Under current rules the FSCS covers the first £50,000 of a
valid claim in respect of most types of investments and £85,000 in
respect of cash deposits. Please note that these limits apply to
individuals, rather than to each account which an individual may
hold. The right to claim under the FSCS will only arise if you qualify
as an eligible investor. Further information can be obtained from
the FSCS, www.fscs.org.uk.
Credit checking
In connection with this arrangement we may carry out credit
checks with licensed credit reference agencies, which will retain a
record of that search. In the event of your default, relevant details
may be recorded with that agency. This information may be used
by other stockbrokers, financial institutions, etc. in assessing
applications for credit by you and members of your household, and
for occasional debt tracing and fraud prevention purposes.
Anti-money laundering
We have responsibilities under anti-money laundering regulations
to verify your identity and the origin of your assets. We may need
to make certain enquiries and obtain certain information from you
for that purpose in accordance with our statutory obligations. You
warrant that all information you supply in relation to the origin of
your assets will be accurate, and accept that we may need to pass
this information to PSL or a third party, such as the FCA, Police,
National Crime Squad, as well as third party fund managers of
funds in which you have invested, to comply with our reporting
requirements.
Confidentiality and data protection
7IM and PSL may store, use or otherwise process (using computer
systems or otherwise) personal data about you which is provided
by you or on your behalf. Examples of personal data that we collect
directly from you include your name, date of birth, national
insurance number, contact details, address and financial
information.
If you provide information about a spouse or family member, you
hereby confirm that you have obtained consent from that person to
provide his or her personal data to us. Where your account is held
jointly with another person or belongs to a family of accounts, we
may disclose information about that account, which may include
your personal data, to the other account holders unless you tell us
otherwise.
The purposes for which we and PSL can store, use or process
such personal information are providing investment and other
services under these Terms and Conditions, administering your
account(s) and other purposes closely related to those activities.
This includes (but is not limited to) using information for the
purposes of credit and anti-money laundering enquiries or
assessments, as well as statistical data for research purposes. In
respect of an account opened with us for investments within a
pension product (if relevant), please also refer to the ‘Pensions
Products’ section above for information that we provide to the
pension scheme trustee/administrator.
We are registered as a data controller with the United Kingdom
Information Commissioner’s Office. In the United Kingdom, PSL
operates and has made all appropriate notifications in accordance
with applicable data protection legislation.
The information we and PSL hold about you is confidential to you
and will only be used in connection with providing services under
these Terms and Conditions. Information of a confidential nature
(including personal data) will be treated as such, provided that
such information is not already in the public domain. Information of
a confidential nature will only be disclosed outside the group of
companies to which we or PSL belong in the following
circumstances:

if required by law or if requested by any regulatory authority
(including any tax authority) or exchange having control or
jurisdiction over you, us or PSL (or any respective associate);

to investigate or prevent fraud, market abuse, tax evasion or
other illegal activity (including disclosing confidential
information to third parties who are directly involved in any
such investigation);

in connection with the provision of services to you by us or
PSL;

for purposes closely related to the provision of the services or
the administration of your account, including (but not limited
to) for the purposes of credit enquiries or assessments;

if it is the public interest to disclose such information; or

at your request or with your consent.
This is subject to a general proviso that we and PSL may disclose
your information to certain permitted third parties, such as
members of our or PSL’s own group and professional advisers
(including accountants and lawyers) who are subject to
confidentiality codes.
Unless you tell us otherwise, we will send you information about
our products and services that we believe may be of interest to
you. Neither we nor PSL will sell, rent or trade your personal
information to any third party for marketing purposes unless you
give your express consent.
You should note that, by signing your account opening
documentation and accepting these Terms and Conditions, you will
be consenting to the sending of your information internationally,
including to countries outside of the European Economic Area.
Some countries where your information is sent will offer different
levels of protection in relation to personal information, not all of
which will be as high as the United Kingdom. We and PSL will,
however, always take steps to ensure that your information is used
by third parties only in accordance with our respective data
protection policies and procedures.
PAGE 13
TERMS AND CONDITIONS
You are entitled to a copy of the information we or PSL hold about
you. We and PSL are entitled by law to charge a fee of up to £10 to
meet the cost of providing you with details of the information held
about you. In the first instance, you should direct any such request
to us by email at address: [email protected]. You should let
us know if you think any information we or PSL hold about you is
inaccurate, so that we or PSL can correct it.
You will not be entitled to request the destruction or deletion of any
record about you unless we or PSL are required to do so under law
or regulation.
Assignment
Your rights under the 7IM Agreement and Pershing Agreement are
personal to you and your personal representatives, and you or they
may not assign or transfer any rights and obligations entered into.
We may assign or novate the 7IM Agreement to any appropriately
authorised member of our corporate group from time to time, or to
any purchaser of all or substantially all of our assets or business
involved in the performance of the Self Invest Service, on giving
written notice to you to that effect.
Illegality
If any provision of these Terms and Conditions or any partprovision shall become or be declared illegal, invalid or
unenforceable for any reason whatsoever, such provision or partprovision shall be deemed to be deleted from these Terms and
Conditions.
Governing law and jurisdiction
The 7IM Agreement and the Pershing Agreement are governed by
the law of England and Wales. You irrevocably agree to submit to
the non-exclusive jurisdiction of the courts of England and Wales to
settle any disputes which may arise out of or in connection with the
7IM Agreement or the Pershing Agreement, and that accordingly
any proceedings in connection with such a dispute may be brought
in such courts.
For more information call 020 7760 8747, email [email protected] or visit www.7im.co.uk
Seven Investment Management LLP is authorised and regulated by the Financial Conduct Authority. Member of the London Stock Exchange.
Registered office: 125 Old Broad Street, London EC2N 1AR. Registered in England and Wales number OC378740.
PAGE 14
09/2014
SELF INVEST SERVICE
FAQ
FEBRUARY 2015
LOGGING ONTO THE CLIENT PLATFORM
HOW DO I VIEW MY ACCOUNT ONLINE?
When you first open an account with 7IM we will send you a Welcome Letter with your user name and password. You
will need to login to your account within the first 30 days to complete your security questions and set a 5 digit PIN.
Please note that you choose your own PIN; we do not issue this to you. If you need any assistance in viewing certain
aspects of your account please call us on the number below or have a look at the client platform screens video, leaflet
or FAQs on our public website.
WHAT DO I DO IF I HAVE FORGOTTEN MY USERNAME/ACCOUNT NUMBER, PASSWORD OR PIN?
Please contact us on 0207 760 8747 or email [email protected] and we will arrange for a new password to be
sent to you in the post. We do not send new passwords by email for security purposes.
WHAT ARE MY LOGIN DETAILS TO ACCESS 7IMAGINE?
7IMagine is our mobile app – available to download from both Google Play and the App Store – just search for
7IMagine. Once downloaded you can log in using the same details as you have for the client portfolio log in but you
must have logged in to the website first.
OPENING AN ACCOUNT/ADDING ACCOUNTS
HOW WILL YOU VERIFY MY IDENTITY?
When you apply to open an account with us we will attempt to verify your identity using an electronic system, if this
is successful you will not need to send us any documents. If we are unable to verify your identity electronically we
will contact you about the documents we need. If you have a SSAS/Corporate/Trust or Charity account please refer to
additional documentation below.
YOU NEED AN ORIGINAL DOCUMENT – WHAT DO I DO?
Where possible, when sending personal documents such as passports, we would encourage you to send us certified
copies* in the post. If you cannot do this, or we need an original document, we suggest sending documents by
registered mail. If you are local and would prefer to drop off documents personally you can leave them with building
reception clearly marked for Seven Investment Management.
*7IM will accept documents certified by the following: Accountant, Barrister, Solicitor, Bank or Building Society Official,
Commissioner of Oaths/Notary Public and FCA registered individual. The certifications must be wet ink signatures and must
contain “I certify this is a true copy”, “True certified copy” or “Certified, original seen”. The certifier must include: Signature,
Date of Certification and Printed name of certifier.
HOW DO I ADD MONIES TO MY ACCOUNT?
Monies can be received either by cheque or electronically. If you would like to send your monies electronically
confirmation of the bank details will be on your Welcome Letter.
WHO DO I MAKE CHEQUES PAYABLE TO?
Please make cheques payable to ‘Pershing Securities Ltd’ and send them to the address below. However if you wish to
place a Fixed Term Deposit please make cheques payable to ‘Seven Investment Management LLP’.
WHERE CAN I ACCESS YOUR ACCOUNT OPENING FORMS?
Please contact us and we will be more than happy to post or email a copy of the required forms to you, or you can find
them online at www.7im.co.uk.
WHERE DO I SEND THE FORMS ONCE COMPLETED?
Please return any documents to our address at the Self Invest Team, Seven Investment Management, 125 Old Broad
Street, London, EC2N 1AR.
HOW DO I SET UP A GENERAL INVESTMENT ACCOUNT (GIA)/ISA/JOINT/SIPP/TRUST/CORPORATE/CHARITY
ACCOUNT?
Please contact the self invest service team who will be more than happy to assist you in the account opening process and
advise which of the following forms would be best.
•
GIA & ISA Account Form
•
Joint Account Opening Form
•
ISA Application Form
•
Pension Account Opening Form
•
Corporate/Trust/SSAS/Charity Account Opening Form
WHICH OTHER DOCUMENTS ARE REQUIRED FOR:
WHAT ARE SUITABLE IDENTIFICATION DOCUMENTS?
If we ask you for any Identification documents one of the following should be provided:
•
Certified copy of a current passport
•
Certified copy of a valid full driving license
WHAT ARE SUITABLE ADDRESS VERIFICATION DOCUMENTS?
One of the following should be provided:
•
Certified copy of a Bank Statement issued in the last 3 months
•
Certified copy of a Utility Bill issued in the last 3 months (a mobile phone bill is not sufficient)
•
Certified copy of a Council Tax Bill
TRUST ACCOUNT?
•
•
•
•
Certified copy of the Trust Deed
Identification and Address Verification Documents (as detailed above) for all Trustees.
If one of the Trustees is a professional trustee then we will require an authorised signatory list instead of the
Identification and Address Verification Documents.
Identification and Address Verification Documents (as detailed above) for all beneficiaries
CAN I SET UP A DESIGNATED ACCOUNT/BARE TRUST?
Yes. Please initially complete a GIA account opening form and specify under section one who the account is to be
designated for. Please note you will need to record, with your accountant, that you have set up a Bare Trust and for whom
this has been set up. We will require the same documentation as detailed under Trust Account above for setting up a Bare
Trust. If you are unsure of how to set up or record that you have set up a Bare Trust please refer to a Financial Adviser,
Accountant or Lawyer. If you need further assistance please contact us.
WHAT DO I NEED TO SEND TO SET UP A SMALL SELF-ADMINISTERED SCHEME (SSAS) ACCOUNT?
•
•
•
•
•
onfirmation of scheme’s HMRC registration certificate or a print out from the online pension service showing the
C
Pension Scheme Tax Reference (PSTR)
If the scheme is not HMRC approved the SSAS should be verified according to its legal status. (Ltd Co.,
Partnership etc)
Certified copy of SSAS Deed document
Authorised list of, and ID for, signatories
Certified copies of the employer’s Certificate of Incorporation
CORPORATE ACCOUNT?
•
•
•
•
Certified copy of the company’s Certificate of Incorporation
Identification and Address Verification Documents (as detailed above) is required for a minimum of 2 directors.
Identification and Address Verification (as detailed above) for all signatories and any beneficial owner with a
shareholding of 25% or more
List of all beneficial owners - we are only required to identify & verify beneficial owners with 25% however we
are still required to know who all the beneficial owners are
SIGNATORY LIST:
•
•
•
•
•
•
•
•
•
•
A government department, member of staff or official.
A government department, member of staff or official.
A director, manager or counter staff of a bank or an authorised credit or financial institution.
A director, company secretary or manager of an Approved Fiduciary Services Provider.
An Embassy, consulate or high commission officer in the country of issue.
A qualified lawyer or attorney, registered with the relevant national professional body.
A qualified accountant, registered with the relevant national professional body.
A notary public, a member of the judiciary, a senior civil servant or a serving police officer.
A registered doctor currently employed by the NHS
Post Office certification service.
CHARITY ACCOUNT?
Documentation required would depend on the form of the Charity.
For an incorporated entity the documents listed under Corporate Account above would be required plus a certified
copy of the incorporation document. For a Charity formed as a trust the documents listed under the Trust Account
above would be required. For all types of Charity the beneficiary may not be an exact person but may be a class
or people. If it is the latter then we would identify them based on the information provided in the Trust Deed (or
equivalent).
ISA SUBSCRIPTIONS
HOW DO I SUBSCRIBE TO AN ISA?
When you set-up your Self Invest GIA we can arrange for a lump sum to be subscribed to your ISA, if requested, or
alternatively you can send us monthly contributions. We can arrange for the contributions to be subscribed to your ISA
and invested as per your completed Regular Dealing Instruction form. ISA subscriptions are initially paid into your GIA
and we then move the monies into your ISA account.
SIPPS
WHAT SIPP PROVIDERS CAN I USE?
We work with a number of different providers and can be appointed as the investment manager on any SIPP policy
where the provider of the SIPP offers this facility. We do have a preferred SIPP provider; DP Pensions Ltd.
WHAT FORMS DO I NEED TO OPEN A SIPP?
If you already have an active SIPP, it may be possible for 7IM to be appointed as the custodian on your policy; please
contact your existing SIPP provider for the correct forms to be completed along with a 7IM Pension account form and
return all forms to us at the below address.
If you do not already have an active SIPP then you can either:
•
Select a SIPP Provider and complete their application form along with a 7IM Pension account opening form; or
•
Open a DP Pensions SIPP (our preferred SIPP provider). We can send you the relevant account opening forms.
•
Please note that before opening a SIPP we recommend that you seek advice.
•
All forms should be posted to us at the below address. Once received we will liaise with your chosen SIPP
provider to establish your SIPP account and transfer your contributions for you to be able to manage.
TRANSFERRING EXISTING INVESTMENTS
HOW DO I TRANSFER MY EXISTING INVESTMENTS TO MY SELF INVEST ACCOUNT?
If your holding is with a third party fund manager please complete an Investment Transfer or ISA Transfer form
(depending on the type of account that your assets are held in). If you need any assistance in completing these forms
please contact us on this number 0207 760 8747
If you have a share certificate or fund that is registered in your own name that you would like transferring into your
7IM account please contact us and we will provide you with the appropriate transfer form.
HOW CAN I TRANSFER A CASH ISA?
Please complete an ISA transfer form with the details of your existing ISA account and please specify the branch that
your Cash ISA is held with. Tick the cash transfer option and return the form to us at the below address to process the
transfer.
HOW CAN I TRANSFER A STOCKS & SHARES ISA?
Please complete an ISA transfer form with the details of your existing ISA account, tick the full re-registration transfer
option and return the form to us at the below address to process the transfer. If you would like to process a partial
re-registration of your ISA, please check with you existing ISA provider that they will accept partial transfer requests. If
this is possible please complete the ISA Transfer Form and select “Partial Transfer Instruction” – if you have difficulty
please contact the Self Invest Team.
HOW CAN I TRANSFER MY PORTFOLIO OF EXISTING INVESTMENTS TO MY SELF INVEST ACCOUNT?
Please complete an Investment or ISA transfer form with details of whom the account is with, your account number
and how you wish the assets to be re-registered i.e. as cash or stock. If you have funds registered in your own name or
share certificates please contact us and we will provide you with the appropriate forms to complete.
WILL I BE NOTIFIED ONCE MY TRANSFER HAS COMPLETED?
Yes you will receive a confirmation letter once your transfer has been fully processed. Please note if you are
transferring your assets as cash this could take up to 2 to 3 weeks to transfer depending on where the assets are
coming from. If you are transferring your assets as stock the transfer could take between 6 to 8 weeks to process
depending on the assets being transferred.
PLACING TRADES
HOW DO I PLACE A PURCHASE/SALE INSTRUCTION?
Please either complete a Dealing Instruction form or call us and we will take your trade instruction over the phone
once we have been through the security process. In the near future you will be able to execute trades online yourself.
CAN I CANCEL A TRADE IF PLACED IN ERROR?
We can attempt to cancel a trade that you no longer wish to place, however this is on a best endeavours basis. We
cannot guarantee your trade will be successfully cancelled.
HOW DO I SWITCH FROM ONE FUND INTO ANOTHER FUND?
Please either complete a Dealing Instruction form with your sale and purchase instruction or call us and we will take
your trade instruction over the phone once we have been through the security process. The type of assets you are
selling and purchasing will dictate whether or not we can place the trades on the same day. If the sale takes 5 working
days to settle and the purchase only 3 working days to settle, we will have to wait at least 2 days before placing your
purchase instruction to ensure these are in line with each other.
In the near future you will be able to execute trades online yourself.
HOW DO I REQUEST A SHARE CLASS CONVERSION?
Please call or write to us with the details of the security including quantity, name and amount that you wish to be
converted and to which share class. Please contact the Self Invest Team for further information.
WHEN CAN I EXPECT THE TRADE TO SETTLE?
This will depend upon the asset that you are selling or purchasing. You will receive a contract note in the post once the
trade is placed which will state the date that the trade will settle. Equities usually settle within 3 working days and
funds will settle between 5 to 10 working days depending on the type of fund being traded. Contract notes are also
displayed on the website via your secure login.
HOW MUCH WILL I BE CHARGED TO PLACE A TRADE?
There will be no additional Dealing charges when you instruct a trade to be executed. Please refer to our Fees and
Charges sheet or contact us if you would like to discuss the fees further.
TYPES OF INVESTMENT
HOW DO I KNOW WHAT TO INVEST IN?
This is a difficult question as the answer will be different for everyone. Before making any investments we advise
you speak to a Financial Adviser – www.unbiased.co.uk is a free consultation website to find independent financial
advisers.
WHICH INVESTMENTS ARE AVAILABLE FOR ME TO PURCHASE?
You are able to purchase any ISA eligible security within any account type. Please contact us if you are unsure if the
security meets the ISA eligibility criteria and we will be happy to check for you. If you complete an instruction form and
we are unable to execute the trade we will securely contact you as quickly as possible.
CAN I REQUEST THE INCOME GENERATED FROM MY PORTFOLIO TO BE SENT TO ME?
Yes. We can arrange for any dividend payments that accumulate on your account to be paid into your nominated bank if
requested Please write to us with the details of when you would like these monies to be paid and how frequently.
WHAT IS A FIXED TERM DEPOSIT?
A Fixed Term Deposit is a deposit account where you can put cash on deposit for a fixed period of time and earn a fixed
rate of interest for that period. Interest rates can vary between institutions, we currently have a 1 month (consisting of
28 days) Fixed Term Deposit with Cater Allen which requires a minimum deposit amount of £50,000. Please contact us
for further details.
CAN I TAKE OUT A LOAN?
If you have more than £100,000 in your portfolio at 7IM you may be able to take a loan of up to £50,000 depending on
the securities held within your portfolio. A loan cannot be taken out against a SIPP investment. Please contact us if
you would like further details.
WHERE IS MY STOCK HELD?
Pershing Securities Ltd. provide settlement, safe custody, nominee and associated services, entered into through us
as your agent. All stock is held on your behalf by Pershing Securities Ltd., either in their physical possession or in the
name of their Nominee Company, Pershing Nominees Ltd.
With a Nominee account, your holdings are held in a Nominee Company name, or an associated Nominee Company
or one appointed by us, with all administration handled by the Nominee Company on your behalf. A nominee account
is available to individuals, joint applicants, Limited Companies, Partnerships, Pension funds/Trusts/Charities, Clubs/
Unincorporated Bodies and Overseas Residents.
Pershing Securities Limited is a wholly owned subsidiary of Bank of New York Mellon Corporation.
7IM FUNDS: HOW SAFE ARE THE 7IM FUNDS?
As with other investments the value of the investment can go down as well as up.
All of the 7IM Fund assets are held at the depositary which is Nortern Trust Global Services Limited.
GENERAL
What are the fees?
Please refer to the Fees and Charges sheet located on our website here in the Account Opening Pack.
How do I pay the fees?
On a monthly basis we will look to take any fees due based on the average daily value of the account from uninvested
cash in your portfolio.
If you have an ISA account and would prefer us to take fees from your GIA (to ensure the ISA limit is not wasted) please
provide written instruction to do this.
However if there is insufficient cash in your account to meet these fees, or no other means to pay, we will then look to
sell part of your largest holding, unless otherwise instructed, to raise 3 months’ worth of projected fees.
REPORTS
WHAT REPORTS WILL I RECEIVE?
You will receive a valuation with all the transactions for the period in each of your accounts every 6 months for the
periods 1st October until 5th April and 6th April to 30th September. If you would like to receive these reports quarterly
please contact us.
WHEN WILL I RECEIVE THEM?
You will receive your reports the month after they have been produced therefore May and October. These reports will
be posted to the address we have on file for you.
WILL I RECEIVE CONTRACT NOTES?
Yes. You will receive contract notes in the post, if you do not wish to receive contract notes please write to us and we
can amend your account settings. You can also view your contract notes online via the Client Platform.
WHAT IF I DON’T RECEIVE MY REPORT?
If you do not receive a report and you are expecting one please contact us and we can arrange for a copy to be sent to
you.
OTHERS
HOW DO I REGISTER A COMPLAINT?
In the first instance please call us with the matter and we will try and resolve this as quickly as possible. If you are
unsatisfied with the response please set your complaint out in full in writing and we will investigate the complaint. Our
Complaints Procedure can be located under the Regulatory/Legal Section on our website.
HOW DO I NOTIFY YOU OF A CHANGE OF PERSONAL DETAILS?
To make any changes to personal details we need to receive written instructions signed by all the parties concerned.
Please write to us with any changes you wish to make to your name, address, contact details and/or bank details and
we will update our records and confirm accordingly.
WWW.7IM.CO.UK
Seven Investment Management LLP is authorised and regulated by the Financial Conduct Authority. Member of the London Stock Exchange.
Registered office: 125 Old Broad Street, London. EC2N 1AR. Registered in England and Wales No. OC378740.