Terms of Business

Terms of Business

1. Our services
La Playa Wealth LLP can act on your behalf in advising you on investments and non-investment insurance contracts. We offer the following products and services:

  • Investments - we provide an independent advice service. We will make a recommendation for you after we have assessed your needs and undertaken a comprehensive and fair analysis of the market.
  • Non-investment protection contracts - we advise on products such as term assurance, income protection and critical illness, from a range of insurers.
  • Mortgages – we don’t provide advice on mortgages but we’d be delighted to introduce you to one of the specialist firms with whom we have an ongoing relationship.

We offer you an initial discussion (without charge) at which we will describe our services more fully and explain the payment options. If you decide to proceed, we will:

  • Gather and analyse personal financial information about you, your needs and your objectives
  • Recommend and discuss any action we think you should take and, with your agreement, arrange relevant solutions for you.

Unless we notify you in writing to the contrary, we’ll be treating you as a “retail client”. This means that you’re afforded the highest level of protection under the regulatory system (Financial Conduct Authority) and should have the right to take any complaint to the Financial Ombudsman Service.

2. Your aims and objectives

Any advice or recommendation that we offer to you will only be given after we’ve assessed your needs and considered your financial objectives and attitude to any risks that may be involved. We’ll also take into account any restrictions you’d like to place on the types of products you’d be willing to consider.

We’ll confirm to you in writing the basis of our recommendations, along with details of any special risks associated with the products recommended.

3. Products

Product details
Full details of the products we recommend to you will be covered in the ‘Key Features’ document you’ll receive before the conclusion of any contract.- including, for example, the minimum duration of the product, information on your right to cancel if applicable, and any other early termination rights and penalties.

“Best Execution”
In making applications on your behalf to third parties, we’ll take all reasonable steps to ensure that we obtain the best possible result for you. This is referred to as ‘best execution’.

Investments which are not immediately accessible
Under the terms of this agreement we may, if appropriate, advise you to make investments which are not immediately accessible. We would draw your attention to the risks associated with these investments as there is a restricted market for them. In some circumstances it may therefore not be possible to alter or cash in the investment, or obtain reliable information about its value.

Unregulated collective investment schemes
Our services may also include advice on investments in unregulated collective investment schemes. In this situation we would work through this together and you should carefully consider whether such investments are suitable for your personal circumstances and financial resources

Products not regulated by the FCA
We may also occasionally advise on other financial products which are not regulated by the FCA under the Financial Services and Markets Act 2000 – we’ll point this out at the time. The Financial Services Compensation Scheme does not apply to any of these products.

Will my investment products be reviewed regularly?
Please note that any products we’ve arranged for you will only be reviewed regularly if we agree on a chargeable review service.

4. The ‘small-print’

The ups and downs of investing
Please be aware that investments can fall as well as rise, and that you may not get back the full amount invested. The price of investments we recommend may depend on fluctuations in the financial markets, or other economic factors which are outside our control. Past performance is not necessarily a guide to future performance. Specific warnings relevant to the investments, investment strategies or other products we recommend will be confirmed to you in your “suitability report”.

We’re not lawyers or accountants
Neither La Playa Wealth LLP nor its employees are qualified to render legal or accountancy advice or to prepare any legal or accountancy documents. It is hereby understood and agreed that the onus is on you the client to refer to a solicitor or accountant any point of law or accountancy that may arise during the course of discussions with us.

Tailor-made advice
We intend that recommendations to you will be correct at the date of issue. Our advice will be specific to your current circumstances and intentions and therefore won’t be suitable for use at a different time, in different circumstances or to achieve other aims or for the use of others. So you should only use the advice for the intended purpose, and no other person is entitled to rely on the advice for any purpose.

Our advice is time-specific and only relates to work we undertake for you ourselves
Please be aware that, because rules change frequently, we don’t hold ourselves responsible for any actions taken on the basis of the advice or suggestions in our report unless you’ve instructed us proceed on your behalf. You should ask us to review any advice already given if a transaction is delayed, or is to be repeated, or if an apparently similar transaction is to be undertaken.

Discretionary Portfolio Management
We may occasionally suggest that responsibility for the management of your investments should be delegated to an external portfolio manager operating on a discretionary basis. In this situation we will liaise between you and the discretionary manager and will ensure that regular reports are produced, but we will not be responsible for the consequences of any acts or omission on the part of the discretionary manager.

Client money
La Playa Wealth LLP is not permitted to handle client money and we cannot accept a cheque made out to us (unless it is in respect of an item for which we have sent you an invoice) or handle cash.

Documentation
All documentation will be issued in your name unless you instruct us otherwise in writing. All policy documents will be forwarded to you as soon as practicable after we receive them. If there are a number of documents relating to a series of transactions, we’ll normally hold each document until the series is complete and then forward them to you.

Cancellation rights
In most cases you can exercise a right to cancel by withdrawing from the contract. In general terms you’ll normally have a 30 day cancellation period for a life, pure protection, payment protection or pension policy; and a 14 day cancellation period for all other policies.

For pure protection policies, the start of the cancellation period will normally begin when you’re told that the contract has been concluded or, if later, when you’ve received the contractual terms and conditions. In other cases, the cancellation period will begin on the day the contract is concluded or, if later, the day on which you receive the contractual terms and conditions. Instructions for exercising the right to cancel, if applicable, will be contained in the ‘Key Features’ document which will be issued to you.

If you cancel a single premium contract, you might not get back the full amount you invested due to market movements.

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“As a client of La Playa Wealth I can vouch for their total dependability and up-to-date knowledge of the daily financial market. I am a pensioner and need plenty of guidance and advice on these matters - all of which I can obtain at the flick of a telephone or internet switch!”

 

Ready to work with us?

You can call us to talk more about your business on +44 (0)1223 200650 or +44 (0)20 3865 0149

What's Covered?

Proactive advice
Clarity of vision
Real service
Confidential

About La Playa Wealth

Specialist & Independent

La Playa’s intelligent approach to financial services is founded on absolute integrity, an in-depth understanding of our clients, a high calibre team of advisers and a commitment to excellence in service.

Investing with Intelligence

  • Proactive advice: tapping into the intellectual capital of a Chartered Wealth Manager - your financial ‘life coach’
  • Clarity of vision: with cashflow modelling to show how and when you will reach your objectives
  • Real service: a regular, rigorous review of your plan - not just ‘service by mail’; and quarterly market insights and commentary
  • Real commitment: a long-term, personal relationship with face to face meetings - spending time with you to really understand your priorities

Together with our sister company La Playa Ltd, we offer a joined-up approach, with insurance and other financial services all under one roof. 

Get in touch - our initial consultation is free, and it could be the best move you make this year.

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