To provide you with financial planning services, we will collect and hold personal data about and on you. We are also required to comply with the General Data Protection Regulation (Regulation (EU) 2016/679(the “GDPR”)) and as such, hereby set out details as to how we process your data and your rights.
This privacy notice applies to you if you are a client, a prospective client, an intermediary, or the client of an intermediary. The privacy notice sets out the basis on which any personal data about you that you provide to us, that we create, or that we obtain about you from other sources will be processed by us. Please take the time to read and understand this privacy notice.
Who we are
Jane Smith Financial Planning Limited collects, uses, and is responsible for certain personal data about you. When we do so, we are required to comply with data protection regulation, and we are responsible as data controller of that personal data for the purposes of those laws.
Jane Smith Financial Planning Limited is a company registered in England and Wales (company number 4371002) whose registered office is at 7 Osier Way, Olney Office Park, Olney, Buckinghamshire, MK46 5FP. Jane Smith Financial Planning Limited is authorised and regulated by the Financial Conduct Authority, registration number 212859.
The personal data we collect
While providing services to you, we may collect the following personal data when you provide it to us:
- Contact information
- Identity information
- Financial information
- Employment status
- Lifestyle information
- Health information
- Details of any vulnerability
- Details of your dependents and/or beneficiaries under a policy or will (If you are providing information about another person, we expect you to ensure that they know you are doing so and are content with their information being provided to us. You might find it helpful to show them this privacy notice, and if they have any concerns, please contact us in one of the ways described below)
- Product details.
We also obtain personal data from other sources while providing our services. Where we obtain this information from another party, it is their responsibility to make sure they explain that they will be sharing personal data with us and, where necessary, ask permission before sharing information with us. The personal data we obtain from other sources may include the following:
- From intermediaries – your personal details and contact details for the purposes of contacting you regarding our services
- From employers – salary and benefit information
- From lenders and/or product providers – product details
- From identification and verification checking agencies – identity information and sanction check information. No credit search is completed, but may leave a soft “footprint” on your credit history. This will in no way affect your credit rating.
Depending on the types of products and services you require, we may also need to gather certain types of personal data considered more sensitive and so are subject to additional levels of protection under data protection legislation. These are known as “special categories of data” and include data concerning health, racial or ethnic origin, genetic data and sexual orientation. Data relating to criminal convictions or offences is also subject to additional levels of protection.
Please note that, as with personal data, you have freedom of choice when it comes to your decision as to whether you provide us with sensitive personal data. In addition to your right to request that we stop processing your personal data and sensitive personal data at any time, you have an opportunity at the end of this Notice to choose not to provide sensitive personal data to us at all. You should, however, note that if you exercise this right or subsequently request that we stop processing all or part of your personal data and/or sensitive personal data, this could impact our ability to provide you with certain types of products and services and may ultimately result in us being unable to provide them to you at all.
Why we need your data
We aim to offer advice and financial planning services that help you plan your financial future. The information we obtain will be used as follows:
- Act as the basis for any advice we provide;
- To carry out our obligations arising from any contracts entered into by you and us;
- Provide information to investment providers or life assurance firms for the purposes of arranging products and services for you;
- Provide our ongoing service to you;
- Meet our regulatory obligations in the services we provide to you.
Our basis for processing your data
We are a “data controller” under the terms of the GDPR, and there are six lawful bases for processing data, but only the first four are likely to apply to Jane Smith Financial Planning Limited clients.
- As a client, the first basis will apply; consent. By signing this document, you are consenting to us processing your data.
- The second basis; legitimate interest pursued by a controller applies should we wish to contact an existing client who has not given us consent. The communication might be information that we consider to be of interest, such as changes to pension legislation for retired clients. Importantly, this basis only allows for non-electronic marketing (i.e. via the post) and does not allow emails, SMS or telephone.
- The third basis, necessity, applies when passing your details to a provider or companies to complete our contractual obligations, such as processing a new investment. Also, this basis applies when a prospective client sends some basic financial information that needs to be processed before deciding what level of service might apply.
- The fourth basis, legal obligation, applies when the Regulator, the Financial Conduct Authority, or the Financial Ombudsman Services, or a court requires us to provide information.
Sharing your data
We will take steps to ensure that the personal data is accessed only by those who need to do so for the purposes described in this notice.
We may also share your personal data outside of Jane Smith Financial Planning Limited:
- With third-party agents and contractors for the purposes of providing services to us, for example, accountants, professional advisers, IT and communications providers. These third parties will be subject to appropriate data protection obligations, and they will only use your personal data as described in this privacy notice.
- To third-party agents or contractors who help us in providing our service, for example, paraplanners who provide research, analysis, generation of reports and administrative support or our external compliance support provider, for the purposes of providing services to us. These third parties will be subject to confidentiality agreements, and they will only use your personal data as described in this privacy notice.
- To your investment company or insurer with whom we obtain quotations and with whom we agree to place your business.
- To the extent required by law, for example, if we are under a duty to disclose your personal data to comply with any legal obligation, establish, exercise or defend our legal rights.
We will not:
- Sell or rent your information to third parties
- Share your information with third parties for marketing purposes.
We may retain and process your data for the following periods. If more than one period applies to the same data, we will retain the data to the last such period to expire:
- We will hold any agreements between you and us for a period of six years from the termination or expiry of the agreement unless we have been notified of any claim or such circumstance that might give rise to a claim under or by reference to such agreements.
- We will process data relating to investments that we have provided advice on and/or have arranged for you. We will process such data throughout the entire period you are and remain a client for the firm and for a period of not less than six years following our ceasing to provide service to you in regard to those investments. In the case of long-term investments, we may process your data until the date of maturation of such long-term investments.
- We will hold data as required by the Regulator until the end of any limitation period imposed by that Regulator, which in the case of the Financial Conduct Authority is currently six years for all types of business undertaken except for Occupational Pension Schemes, which can include defined benefit transfers and scheme money purchase transfers, whereby the data retention period is indefinite.
- We will hold data as required by any relevant third party until the end of any limitation period imposed by that relevant third party, which in the case of HMRC shall be seven years, unless we are notified that any period is considered “open” by HMRC in which case it will be until we are notified the period is “closed”.
- We will hold data as required for the purposes of any legal proceedings for a period of six years following the conclusion of any such proceedings, unless a longer period is required pursuant to any court rule or enactment. Proceedings will be taken to have concluded on the expiry of any period given for appealing any final judgement or on the date of concluding any settlement staying all relevant claims if the proceedings were settled before judgement.
- Save for the above, we will hold data for a minimum of 50 years from the date we receive the data.
We will regularly review data, and where, in our opinion, such data has ceased to be Active, we will archive it and process it only as Archived Data. Any data that is deemed Archived Data will only be processed in limited circumstances.
All storage of data, whether Active Data or Archived Data, will be in accordance with good industry practice and will be undertaken in accordance with organisational systems and procedures, which will be regularly reviewed to maintain the security of data.
Transfer of data outside the UK/EU
The personal data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (EEA). It may also be processed outside of the EEA by one of our suppliers or a product provider we recommend.
Where we transfer your personal data outside the EEA, we will ensure that it is protected in a manner that is consistent with how your personal data will be protected by us in the EEA. In all cases, we will ensure that any transfer of your personal data is compliant with data protection law.
Your rights regarding your data
You have legal rights under data protection regulation in relation to your personal data. These are set out under the below headings:
- To access personal data
- To correct/erase personal data
- To restrict how we use personal data
- To object to how we use personal data
- To ask us to transfer personal data to another organisation
- To object to automated decisions
- To find out more about how we use personal data.
We may ask you for proof of identity when making a request to exercise any of these rights. We do this to ensure we only disclose information or change your details where we know we are dealing with the right individual.
We will not ask for a fee unless we think your request is unfounded, repetitive or excessive. Where a fee is necessary, we will inform you before proceeding with your request.
We aim to respond to all valid requests within one month. It may, however, take us longer if the request is particularly complicated or you have made several requests. We will always let you know if we think a request will take longer than one month. To speed up our response, we may ask you to provide more detail about what you want to receive or are concerned about.
We may not always be able to fully address your request, for example, if it would impact the duty of confidentiality we owe to others or if we are otherwise legally entitled to deal with the request in a different way.
To access personal data
You can ask us to confirm whether we have and are using your personal data. You can also ask to get a copy of your personal data from us and for information on how we process it.
To rectify/erase personal data
You can ask that we rectify any information about you that is incorrect. We will be happy to rectify such information, but we would need to verify the accuracy of the information first.
You can ask that we erase your personal data if you think we no longer need to use it for the purpose we collected it from you.
You can also ask that we erase your personal data if you have either withdrawn your consent to us using your information (if we originally asked for your consent to use your information), or exercised your right to object to further legitimate use of your information, or where we have used it unlawfully or where we are subject to a legal obligation to erase your personal data.
We may not always be able to comply with your request, for example, where we need to keep using your personal data to comply with our legal obligation or where we need to use your personal data to establish, exercise or defend legal claims.
To restrict use of personal data
You can ask that we restrict our use of your personal data in certain circumstances, for example:
- Where you think the information is inaccurate and we need to verify it
- Where our use of your personal data is not lawful, but you do not want us to erase it
- Where the information is no longer required for the purposes for which it was collected but we need it to establish, exercise or defend legal claims, or
- Where you have objected to our use of your personal data, but we still need to verify if we have overriding grounds to use it.
We can continue to use your personal data following a request for restriction where we have your consent to use it; or we need to use it to establish, exercise or defend legal claims, or we need to use it to protect the rights of another individual or a company.
To object to use of personal data
You can object to any use of your personal data that we have justified based on our legitimate interest if you believe your fundamental rights and freedoms to data protection outweigh our legitimate interest in using the information. If you raise an objection, we may continue to use the personal data if we can demonstrate that we have compelling legitimate interests to use the information.
To request a transfer of personal data
You can ask us to provide your personal data to you in a structured, commonly used, machine-readable format, or you can ask to have it transferred directly to another data controller (e.g. another company).
You may only exercise this right where we use your personal data to perform a contract with you, or where we asked for your consent to use your personal data. This right does not apply to any personal data that we hold or process outside automated means.
To contest decisions based on automatic decision-making
We do not use fully automated decision-making to execute our business relationship with you. We do, however, process your data on a partially automated basis with the aim of evaluating certain characteristics of yours (profiling). We use profiling to provide you with tailored information.
You can contact us for more information
If you are not satisfied with the level of information provided in this privacy notice, you can ask about what personal data we have about you, what we use your information for, who we disclose your information to, whether we transfer it abroad, how we protect it, how long we keep it, what rights you have, how you can make a complaint, where we got your data from and whether we have carried out any automated decision-making with your data.
If you would like to exercise any of the above rights, please:
- Email or write to us at email@example.com or 7 Osier Way, Olney Office Park, Olney, Bucks, MK46 5FP;
- Let us have enough information to identify you e.g. name, address, date of birth;
- Let us have proof of your identity and address (your passport or driving licence and a recent utility bill); and
- Let us know the information to which your request relates.
Keeping your personal data secure
We have appropriate security measures in place to prevent personal data from being accidentally lost, used or accessed in an unauthorised way. We limit access to your personal data to those who have a genuine business need to know it. Those processing your information will do so only in an authorised manner and are subject to a duty of confidentiality.
We also have procedures in place to deal with any suspected data security breach. We will notify you and any applicable regulator of a suspected data security breach where we are legally required to do so.
From time to time, we may wish to contact you with details of other investment, pension or financial products and/or services that we think may be of interest and/or beneficial to you. These communications may also include updates on staff and activities within the business.
In addition, when you have provided your consent, we may provide you with details of products and services of third parties where they may be of interest to you.
You can opt out of receiving marketing at any time. If you wish to amend your marketing preferences, please contact us:
By phone: 01234 713131
By email: firstname.lastname@example.org
By post: Jane Smith Financial Planning Limited, 7 Osier Way, Olney Office Park, Olney, Buckinghamshire, MK46 5FP.
Our contact details
Should you wish to contact us in relation to any issues within this notice, please contact:
Person responsible for GDPR: Nicola Watts
Contact address: As above
Contact telephone: 01234 713131
Contact email: email@example.com
You will be responded to as promptly as possible. We do not have an appointed Data Protection Officer.
Your right to complain
Should you wish to make a complaint in relation to data protection issues relating to our firm, you can contact us as above, or you can contact our regulator as follows:
The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF Telephone: 0303 123 1113 (local rate) or 01625 545745 (if you prefer to use a national rate number). Website: www.ico.org.uk
We are required under the Regulations to obtain your consent to our collection, processing, sharing and holding of your personal data. Please ensure that you have read this notice fully and accept all that it contains. If you have any queries, please contact us directly.
Please contact us if you not able to read or understand this notice sufficiently.