Independent Financial Services
Terms of Business · July 2026
Download Client Agreement (PDF)| Backhouse Independent Financial Services Limited | ||
| Oakmount House | ||
| 7-9 Carrside | ||
| Nelson | ||
| Lancashire | ||
| BB9 6RX | ||
| Information About Our Services | ||
| Date issued: | ||
CLIENT CLASSIFICATION ................................................................................................................... 2 OUR COMMITMENT TO YOU............................................................................................................. 2 HOW ARE YOU TODAY?…………………………………………………..………………………………………………………...3 METHODS OF COMMUNICATION ....................................................................................................... 3 LANGUAGE .................................................................................................................................... 3 CLIENT MONEY .............................................................................................................................. 3 INTRODUCTIONS TO A THIRD PARTY ................................................................................................... 3 DATA PROTECTION ......................................................................................................................... 3
INVESTMENT PERMISSIONS .............................................................................................................. 3 SCOPE OF ADVICE ........................................................................................................................... 4 CONFLICTS OF INTEREST ................................................................................................................... 4 BEST EXECUTION ............................................................................................................................ 5
NON-INVESTMENT AND GENERAL INSURANCE PERMISSIONS .................................................................. 5 NON-INVESTMENT AND GENERAL INSURANCE SERVICES ........................................................................ 5 WHAT WILL YOU HAVE TO PAY US FOR THIS SERVICE? ............................................................................ 5
ACCOUNTING TO YOU ..................................................................................................................... 6 COMPLAINTS ................................................................................................................................. 6 COMPENSATION ARRANGEMENTS ..................................................................................................... 6
Backhouse Independent Financial Services Limited, Oakmount House, 9 Carrside, Lomeshaye Business Park, Nelson BB9 6RX is authorised and regulated by the Financial Conduct Authority (FCA). Our FCA Number is 126319
You can check this on the FCA’s Register by visiting the website https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.
Backhouse Independent Financial Services Limited classifies all clients as ‘retail clients’ for investment business, which means you are afforded all protections under the rules of the Financial Conduct Authority.
Should you wish to be classified differently for investment business, please discuss this with your adviser. Please note that should you wish to be considered as a different category of customer for investment business, such as a professional client or eligible counterparty, you must inform us in writing. We will provide you with a new client agreement, and you may lose a number of protections which will be outlined in that new agreement.
Backhouse Independent Financial Services Limited classifies all clients as ‘consumers’ for non- investment insurance business, which means you are afforded all protections under the rules of the Financial Conduct Authority.
Should we need to classify you differently, we will discuss this with you; however, you should be aware that you may lose a number of regulatory protections which will be outlined in a revised agreement.
Prior to providing you with any advice, we will take time to understand your current needs, circumstances and attitude to risk (where applicable). Any advice provided will be confirmed to you in writing.
Backhouse Independent Financial Services Limited takes all our regulatory responsibilities very seriously, and we ensure that all our staff are required to demonstrate their competence to undertake their role and our business is structured in a manner that is designed to meet in full all the requirements set by our regulator, the Financial Conduct Authority, and under European Securities and Markets Authority rules.
Our Commitment to You
At some point throughout our lifetime, any of us might need extra support and help at a particular time. This can be due to how we are feeling (or health or disability) or due to a certain life event occurring, or even a language barrier.
If you feel you need extra support and help at this time, do let us know, in confidence, so we can make your journey with us the very best it can be.
Unless you advise us otherwise, we will communicate with you via the following methods of communication: face-to-face, E-mail, Telephone, Letter.
Please note that all our communications and documents will be provided to you in English.
Backhouse Independent Financial Services Limited does not handle clients’ money. We never accept a cheque made out to us (unless it is a cheque in settlement of charges or disbursements for which we have sent you an invoice) or handle cash.
We may receive a fee for making introductions to third party product or service providers. Should we receive a fee, we will confirm in writing to you what that fee will be.
When acting as an introducer, marketer or promoter of a scheme, no responsibility is accepted for any matters arising from the referral to the scheme product provider. It is your responsibility to ensure that you enter into separate Terms & Conditions with the third-party advisor.
For details of our Data Protection policy, please see our Data Protection Notice, which will be provided separately to you.
Backhouse Independent Financial Services Limited is permitted to advise on and arrange (bring about) deals in investment contracts.
With regard to investment contracts which we have arranged for you, these will not be kept under review unless we agree otherwise with you; but we will advise you upon your request.
We will provide services to you as more fully outlined below.
We will only provide advice and make a recommendation to you having fully assessed your financial needs and objectives.
This means that we will spend some time discussing with you what you want to achieve financially and see if the advice and services that we offer are going to be appropriate to address them.
It is important to us that you fully understand how we go about doing this, so please do ask us for more detail if anything is unclear to you.
In respect of the financial products that we use, we do not restrict ourselves to certain types of products. We will look across a range of products which are called Retail Investment Products; we will also look at Cash ISAs, National Savings Products and structured products as well. We use research tools to select these products using criteria set to meet your needs and will not use pre-determined lists or only a small range of preferred providers. We aim to find the right product to meet your needs on each and every occasion.
In respect of the product providers that we use, we do not restrict our advice to certain companies. Instead, we use research tools to help us find the company that provides the right products to meet your needs.
We have a legal and regulatory obligation to take all appropriate steps to identify and to prevent or manage conflicts of interest from arising. In the event of any of our business interests or activities creating a potential conflict of interest, we will ensure that we take all appropriate steps to manage the potential conflict by maintaining robust systems, controls and staff training. In the unlikely event that we are unable to prevent the potential conflict; we will fully disclose to you the general nature and/or sources of conflicts of interest and the steps taken to mitigate those risks.
Further details of our conflict-of-interest policy are available upon request.
It is our policy to transact your business in order to achieve the best possible results in terms of the:
Price of products, providers and services
Cost of advice
Speed
Size and Nature of the transaction
Effectiveness of the Platform/ Provider/ Service Provider
Backhouse Independent Financial Services Limited is permitted to advise on and arrange (bring about) deals in non-investment and general insurance contracts.
We are an insurance intermediary and act on behalf of clients and not insurers.
We offer a personal recommendation on the basis of a fair and personal analysis of the market
Our minimum fee is £800 payable at the outset. Our typical fee is £1,250.
Any commission received from the product provider will be used to offset this fee.
For example: If the commission to be earned was £500, then we would offset this against the £800 minimum fee and invoice you directly for the balance of £300.
We will provide details of the total remuneration payable, including any fees, commissions, charges, expenses and benefits, in our client engagement letter.
We make no charge for any advice in relation to consumer credit activities.
We will forward to you any documents we receive in relation to business transacted as soon as practicable; where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you.
If you wish to register a complaint, please contact us in writing at the address at the front of this agreement or telephone us on 01282 677776.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. http://www.financial-ombudsman.org.uk.
We have briefly set out some information about the Financial Services Compensation Scheme (FSCS) below. If you would like further information about compensation scheme arrangements, details are available at www.fscs.org.uk or call 0800 678 1100.
Most of the products we advise on are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if product providers or we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
The actual level of compensation you receive will depend on the basis of your claim. The FSCS only pays compensation for financial loss. Compensation limits are per person per firm, and per claim category (listed below).
Investment firms failing from 1st April 2019
Most types of investment business are covered for 100% of the first £120,000 per person per firm, so the maximum compensation is £120,000 per person per firm.
Deposit firms failing from 1st January 2017
Money in accounts like current and savings accounts, including cash ISAs are covered up to £120,000 per authorised firm (£240,000 for a joint account). It should be noted that ‘authorised firms’ may have different brands. The Financial Services Compensation Scheme (FSCS) will provide a £1.4 million protection limit for temporary high balances held with your bank, building society or credit union if it fails. A temporary high balance would apply when payments have been received in respect of specified life events, details of which can be obtained from the FSCS.
Protection is at 100% without limit, where the claim is in relation to a long-term care insurance contract that is a pure protection contract, or the claim is in respect of a liability subject to compulsory insurance.
In all other cases: 90% of the claim without limit.
Before recommending a product, we will make suitability checks to ascertain your relevant knowledge, experience, objectives, financial situation and your ability to bear losses.
Prior to any transaction we will provide you with a suitability report outlining any recommendations we have made including the selling, holding or buying of investments.
To ensure that you are always fully aware of our advice costs and how and when you are going to be asked to pay for this, we will always confirm this verbally and in writing asking for your consent by signing our client engagement letter we will confirm the exact amount and your preferred payment method.
People seek financial advice for many different reasons, so it is important that we understand exactly who you are and what you want to achieve (your objectives). At our first meeting we will gather information about you to help define your needs and priorities.
We will provide with the following service, the cost of which is covered by our implementation fee.
Financial Review: It is important to identify your current financial ‘health’ status and whether you are on target to address your financial objectives. We can help you to identify these goals and develop a plan for your finances to help you achieve these.
Savings, Investment & Retirement Planning: It is important to know whether the money you are saving/investing or putting towards retirement will provide you with sufficient funds to meet your objectives. We can work with you to proactively plan on how you meet your savings goal or your retirement fund and then helping you to decide on the options available once at retirement age.
Occupational Pension Review: If you have retained pension benefits linked to previous periods of employment, we can review these to see if they remain suitable for delivering your retirement objectives, helping you to decide whether to leave these in situ or to transfer to a new arrangement, best placed to meet your retirement objectives.
Protection Planning: Most of us want to protect the things that are important, such as our family, our business and quality of life. Protection planning can help to provide peace of mind in the event of your income changing due to unexpected events. We can help you plan for the best way to protect you, your family or your business.
Transactional Business: Where you ask use to undertake a particular course of action on your behalf, such as reviewing the advice provided by a third party, advice on specific investment funds or encashment of investments.
You may pay us for our initial advice by way of a percentage of the funds invested or an hourly rate.
Please note if you pay our fee by way of a separate cheque 100% of the investment amount will be invested.
| Example Investment | Typical charge | Typical charge | Typical charge from £500,001 + 0.10% | Total Fee | Amount Invested | |||||
| from £000,001 | from £250,001 | |||||||||
| to £250,000 is | to £500,000 is | |||||||||
| 2% | 0.5% | |||||||||
| £250,000 | £5,000 | £5,000 | £245,000 | |||||||
| £500,000 | £5,000 | £1,250 | £6,250 | £493,750 | ||||||
| £1,000,000 | £5,000 | £1,250 | £500 | £6,750 | £993,250 |
All figures quoted are purely for example, the actual fee paid will depend on the complexity of the work undertaken and will be confirmed to you in our client engagement letter prior to any work being undertaken.
Fees payable will be calculated by taking into account the number of hours required to undertake the work and the hourly rate of the individual carrying out the work.
If work is undertaken purely on an hourly rate basis you may also ask us not to exceed a given amount without checking with you first or we may agree a fixed fee for work undertaken.
| Staff Role | Hourly Rate | Estimated Hours | Total Staff Cost | Total Charge | |||||||||
| Financial Adviser | £165 | 9 | £1,485 | £1,830 | |||||||||
| Paraplanner | £55 | 5 | £275 | ||||||||||
| Administration | £35 | 2 | £70 |
All figures quoted are purely for example, the actual fee paid will depend on the complexity of the work undertaken and will be confirmed to you in our client engagement letter prior to any work being undertaken.
It will always be our policy to provide you with a separate quote for work when considering regular premium investment (excluding phased investment).
It is our company policy to arrange for the Implementation Fee on regular premium investment to be deducted from the total amount collected by the product provider. We will agree this amount and ask you to confirm this, in our Client Engagement Letter. Alternatively, we may ask for a separate cheque, payable to our firm, dependent on the premium value considered.
| Monthly premium | £200 | £300 | £400 |
| Our fee, deducted monthly | £90 | £90 | £90 |
| Total fee paid (12 months) | £1,080 | £1,080 | £1,080 |
You or we may terminate our authority to act on your behalf at any time. You will be liable to pay for any advice or services that you have received prior to the date of termination. This means that where we have agreed the advice and services that we will provide for you and we have agreed to receive payment for these, either by means of a fee for investment business or by receiving commission from a provider for non-investment business you will have to pay us for any work we have completed up to the date of termination.
Once you have decided to implement your Financial Plan it is recommended to benefit from ongoing monitoring and review. We created services to assist you towards achieving your identified goals.
Our ongoing service option incorporates a periodic suitability review of the investments we have recommended; this is to ensure the original recommendation remains suitable. This periodic assessment will be completed at least annually; however, the frequency may be increased when taking into account your risk profile and the types of financial products that have been recommended.
| Example | Annual Service Charge | Example Annual Service Fee | Minimum Annual Fee | ||
| Investment | |||||
| Amount | |||||
| £175,000 | 0.75% | £1,312.50 | £1,312.50 | ||
| £250,000 | 0.75% | £1,875.00 | £1,312.50 | ||
| £500,000 | 0.75% | £3,750.00 | £1,312.50 |
The actual fee charged will vary depending upon how the investment performs and it will increase as the fund grows. We will provide you with information regarding the costs at least annually to help you understand the overall cost and the cumulative effect on the return of the investment.
You, or we, have the right to cancel payment for our ongoing services
We would give you 30 days’ notice and, upon request, could signpost you to alternative sources of financial advice. We will terminate any on-going payments to be received from product or service providers.
You are asked to give 30 days’ notice, and we will terminate any on-going payments to be received from product or service providers.
Where you hold assets within a WRAP, you need to be aware that there will be terms and conditions applicable, such as your agreement with the wrap provider in respect to facilitating our fees, which means you may need to instruct the wrap provider directly and arrange for the removal of assets from the WRAP or appoint another adviser who will be able to access your assets and provide further ongoing advice to you. We will be pleased to assist you at this time in cancelling our service to you, making sure that any WRAP provider is informed of this cancellation.
This is our standard agreement upon which we intend to rely. For your own benefit and protection, you should read these terms carefully before signing them. If you do not understand any point, please ask for further information.
I/We agree that this standard agreement will come into effect from the date of issue.
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| Client Declaration 1 | |||||||||||
| Savings, Investments & Retirement Planning | % of the total investment of £ ___ _________ Agreed fee = £ _________ | ||||||||||
| This fee will be deducted from the initial investment once the transaction completes | Yes or No | ||||||||||
| We will invoice you for this amount once the transaction completes | Yes or No | ||||||||||
| Financial Review and Transactional Services | Staff Member | Number of hours | Hourly Rate | Total | |||||||
| Financial | |||||||||||
| Adviser | |||||||||||
| Para-Planner | Para-Planner | ||||||||||
| Administrator | |||||||||||
| Total to be | |||||||||||
| paid | |||||||||||
| We will invoice you for the above amount once we have completed our review or the service being provided. | |||||||||||
| Protection Planning | Our minimum fee is £…………... | ||||||||||
| Paid by commission by Product Provider | £ _______ | ||||||||||
| Total fee ‘balance’ to be paid by you (if applicable) via invoice on completion | £ _______ | ||||||||||
| Ongoing services | Tick to confirm | Details of agreed fee Any payments subject to VAT will be shown | |||||||||
| Partnership Service (0.75% per annum) | % of the total funds under management (£ ). ___ _________ Agreed fee = £ _________ | ||||||||||
| This fee will be deducted from the investment funds on a monthly/annual basis | Yes or No | ||||||||||
| We will invoice you for this amount on a monthly/annual basis | Yes or No | ||||||||||
| Please note that the amount of our annual ongoing charge may change as your investment fund value fluctuates. |
| Date of issue | |
| Client Name (1): | |
| Client Signature (1): | |
| Date: | |
| Client Name (2): | |
| Client Signature (2): | |
| Date: |
| Adviser Name: | |
| Adviser Signature: | |
| Date: |
| Client Declaration 2 | |||||||||||
| Savings, Investments & Retirement Planning | % of the total investment of £ ___ _________ Agreed fee = £ _________ | ||||||||||
| This fee will be deducted from the initial investment once the transaction completes | Yes or No | ||||||||||
| We will invoice you for this amount once the transaction completes | Yes or No | ||||||||||
| Financial Review and Transactional Services | Staff Member | Number of hours | Hourly Rate | Total | |||||||
| Financial | |||||||||||
| Adviser | |||||||||||
| Para-Planner | Para-Planner | ||||||||||
| Administrator | |||||||||||
| Total to be | |||||||||||
| paid | |||||||||||
| We will invoice you for the above amount once we have completed our review or the service being provided. | |||||||||||
| Protection Planning | Our minimum fee is £…………... | ||||||||||
| Paid by commission by Product Provider | £ _______ | ||||||||||
| Total fee ‘balance’ to be paid by you (if applicable) via invoice on completion | £ _______ |
| Ongoing services | Tick to confirm | Details of agreed fee Any payments subject to VAT will be shown | |
| Partnership Service (0.75% per annum) | % of the total funds under management (£ ). ___ _________ Agreed fee = £ _________ | ||
| This fee will be deducted from the investment funds on a monthly/annual basis | Yes or No | ||
| We will invoice you for this amount on a monthly/annual basis | Yes or No | ||
| Please note that the amount of our annual ongoing charge may change as your investment fund value fluctuates. |
| Date of issue | |
| Client Name (1): | |
| Client Signature (1): | |
| Date: | |
| Client Name (2): | |
| Client Signature (2): | |
| Date: |
| Adviser Name: | |
| Adviser Signature: | |
| Date: |
Our team is ready to discuss your financial goals
Backhouse Independent Financial Services Limited is authorised and regulated by the Financial Conduct Authority. FCA Firm Reference Number: 126319. https://register.fca.org.uk For further information on our costs and services, please contact us.
The information and guidance contained within the website is subject to the UK Regulatory Regime and is therefore primarily targeted at customers in the UK.
Oakmount House 9 Carrside Lomeshaye
Business Park Nelson, Lancashire BB9 6RX
Telephone:
Email:
Monday - Friday: 9:00 am to 5:00 pm
© Backhouse Independent Financial Services Limited.
Registered in England.: Company No. 01140032.