Intermediary Data Requirements Form

Intermediary Data Requirements Form
This form should be used to set up a new adviser/intermediary firm on Cofunds. It will authorise all listed registered individuals to place business for collective investments
through the Cofunds Platform. If your firm already has a current Sales Agreement with Legal & General you will also automatically be authorised to place business for life
investments through Cofunds.
Please indicate whether you have a current Sales Agreement in place with Legal & General
Yes
No
The information requested in this form needs to be fully and accurately completed, in black ink, by the adviser firm and sent to Cofunds. Cofunds will create a unique Cofunds
Authorisation Code for each registered individual listed on this form, which they must have in order to conduct business with Cofunds. Your Agreement with Cofunds will take
effect when you receive confirmation of your Authorisation Code.
Please complete this form in BLOCK CAPITALS and return to: Intermediary Data Services Team, Cofunds Limited, PO Box 1103, Chelmsford CM99 2XY.
Alternatively email to: [email protected]
* These fields are mandatory. This form will not be processed if they’re not completed.
1 Your Network or Group Details
Group or network name*
Your firm’s key contact*
(Please enter the full name
of network or company)
(Primary contact managing relationship
with Cofunds at network or group level)
2 Your Firm’s Details
Your firm’s name*
Main telephone number*
Registered company number
Email
Address*
Main fax number
(Please enter the full name of Company or Partnership)
(Not relevant if your firm is a partnership)
(Firm’s head office address)
Authorised to hold client money* Yes
No
FCA number*
Postcode*
Country*
Client ownership level**
Firm’s Key Contact*
Back office administrator*
(i.e. First Software or equivalent)
(Primary contact managing relationship with Cofunds at Firm Level and authorised signatory.
Key contact must also complete details in Section 4).
Does your firm offer Advised or Self-directed services? Advised
Advised – Firm provides financial advice to clients
Self-directed – Firm does not provide financial advice to clients
Self-directed
3 Bank Account Details – Please note only one bank account can be used
Bank/Building Society Name*
Account Name*
(All remuneration will be made to this account.
This could be the Firm’s bank account or the Network’s bank.)
Account Number*
Address*
Sort Code*
–
–
Roll Number*
Postcode*
4 Complete this section for all offices that have representatives (Including the main office)
Your firm’s name*
Main telephone number*
Registered company number
Email
Address*
Main fax number
(Please enter the full name of Company or Partnership)
(Not relevant if your firm is a partnership)
(Firm’s head office address)
Data access security level*
Authorised to hold client money* Yes
Postcode*
Country*
FCA number*
Firm’s Key Contact*
Back office administrator*
No
(i.e. First Software or equivalent)
(Primary contact managing relationship with Cofunds at Firm Level and Authorised Signatory. If Key
Contact is a Registered Individual, please complete all details in the Representative Details section below.)
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CLEAR FORM
4 Complete this section for all offices that have representatives (continued)
Please enter the requested information for each representative.
Representative’s forenames (full name)
Memorable date
DD/MM/YYYY*
Email address*
Daytime telephone No
Memorable word*
Data access
security level*†
Segmentation administrator
access Y/N
Title
Representative’s surname
IR number***
Representative’s forenames (full name)
Memorable date
DD/MM/YYYY*
Email address*
Daytime telephone No
Memorable word*
Data access
security level*†
Segmentation administrator
access Y/N
Title
Representative’s surname
Memorable date
DD/MM/YYYY*
Email address*
Daytime telephone No
Memorable word*
Data access
security level*†
Segmentation administrator
access Y/N
Representative’s surname
Memorable date
DD/MM/YYYY*
Email address*
Daytime telephone No
Memorable word*
Data access
security level*†
Segmentation administrator
access Y/N
Representative’s surname
Memorable date
DD/MM/YYYY*
Email address*
Daytime telephone No
Memorable word*
Data access
security level*†
Segmentation administrator
access Y/N
Representative’s surname
Memorable date
DD/MM/YYYY*
Email address*
Daytime telephone No
Memorable word*
Data access
security level*†
Segmentation administrator
access Y/N
Representative’s surname
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Registered
individual Y/N
IR number***
Representative’s forenames (full name)
Title
Registered
individual Y/N
IR number***
Representative’s forenames (full name)
Title
Registered
individual Y/N
IR number***
Representative’s forenames (full name)
Title
Registered
individual Y/N
IR number***
Representative’s forenames (full name)
Title
Registered
individual Y/N
Registered
individual Y/N
IR number***
CLEAR FORM
5 Online Investor Access
Clients of adviser firms registered on the Cofunds platform will have the ability to view their investment portfolio online via the Cofunds website.
If you would like to opt-out of this service for ALL your clients, please tick this box
6 Fee Model Setup
Make sure you have read the explanation notes within Section 8 before you complete this section.
Cofunds code
F
E
E
M
A
I
N
Information Required
T
Fee Model 1
Fee Model 2
Fee Model 3
Model name*
Description
Fee level type*
Please Select
Fee type (fixed or percentage)*
£ to be paid monthly or an
annual % (paid monthly)*
Please Select
Please Select
Please Select
Please Select
£
Please Select
£
VAT % *
£
%
%
%
%
%
%
Trail offset (Yes or No)*
Minimum monthly fee amount
£
£
£
Maximum monthly fee amount
£
£
£
PLATFORM LEVEL FEE MODELS
Products* Choose the products below that you’d like to include in the platform fee calculation.
If you would like to include L&G or Canada Life products in the platform level fee model, please speak to your Platform Consultant.
Cofunds Cash Account
Cofunds Investment Funds
Cofunds Investment ISA
PRODUCT LEVEL FEE MODELS
Cofunds Pension Account investments and cash (complete if setting up a product level fee model)
Investments
AJ Bell Investcentre investments and cash (complete if setting up a product level fee model)
Investments
Suffolk Life Annuities investments and cash (complete if setting up a product level fee model)
Investments
Suffolk Life Trustees investments and cash (complete if setting up a product level fee model)
Investments
Please note: you may be charging your clients twice for a product selected above, if you’re already taking a fee from the product provider.
* These fields are mandatory. This form will not be processed if they’re not completed.
7 Declaration and Authorisation
Declaration:
I confirm that the details set out in this form are correct and that I have read and understand the ‘Your Agreement with Cofunds’. I agree to use Cofunds according to the terms set
out in this agreement.
I understand that I will be authorised to place business for collective investments via Cofunds, but will need to have a current Sales Agreement in place with Legal & General in order to
also be enabled to place business for Legal & General Life Investments via Cofunds.
I agree to be bound by the ‘Cofunds Website Terms and Conditions’, which can be accessed from the bottom of every page of the Cofunds website at www.cofunds.co.uk
I confirm that all the information I have provided is correct, accurate and I shall indemnify Cofunds against any actions, costs, claims, damages, expenses, demands,
liabilities and reasonable legal fees arising out of any information I have provided on this form.
Signed by a duly authorised person for and on behalf of
Name of firm
Signature
Print name of signatory
Date
Job title
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CLEAR FORM
8 Notes
*These fields are mandatory. This form will not be processed if they’re not completed.
FEE MODEL SETUP
** Client Ownership Level: Please complete this section if you belong to a Network or are
directly authorised by the FCA.
Model name*: Here you need to add the name of your new fee model. This needs to be
unique and contain no more than 50 characters.
Client ownership level dictates to Cofunds:
Description: Here you can include the details of your fee model, including the services offered
to clients that pay this particular fee. Up to 100 characters.
1. When we should create a new client record following receipt of an application from an
existing Cofunds client.
2. The level within your company structure at which segments can be created.
Fee level type* (platform or product , you must select a minimum of one product): Here
you select whether the fee model is a ‘product’ or ‘platform’ level fee.
3. The level within your company at which an adviser/intermediary can create fee models.
Fee type* (fixed or percentage): Here you select whether the fee is a fixed fee or a
percentage fee.
Please refer to Your Service Level Agreement with Cofunds for more information
regarding client ownership level.
Fixed fee - enables you to charge a fixed amount on a monthly basis.
*** Individual Reference Number: This is your eight digit code provided to you by the
Financial Conduct Authority.
†Data Access Security Level: Please indicate the level of data access that each
representative may have to Client Information.
The Data Access Security Levels available are:
Level 1 – Access to all customers associated to a Network (Highest Level – This level is
for networks with central administration offices).
Level 2 – Access to all customers associated to all Branches of a Company.
Level 3 – Access to all customers associated to a Branch Office.
Level 4 – Access to only customers of a Registered Individual.
‘Network’ or ‘Group’ details: The address and contacts generally used for the highest
level correspondence.
Commission:
1.Standard commission rates for collective investments will be paid except where the
Fund Manager has informed Cofunds of certain specific arrangements with your firm.
2.Standard commission rates for Life Policies will be paid except where special terms
have been agreed between Legal & General and your firm.
3.The bank account must be held by the Intermediary Company regulated by the FCA.
All commission will be paid to this account.
IMPORTANT
Adviser/Intermediary fees: If you wish to benefit from the Cofunds Adviser/
Intermediary fees facility please contact a member of the Adviser Support Team for
guidance on assigning fee models to segments.
Bank account: The bank account must be held by the adviser company directly regulated
by the FCA i.e. the principal firm. All commission and fee proceeds generated will be paid
to the nominated bank account of the principal firm. Commission and/or fees will not be
paid directly to an appointed representative firm or a member of a network. Payments
will be made to the principal firm for onward payment to the underlying firms.
Percentage fee - allows you to specify an annual rate that will be applied to your client’s
assets on the Cofunds platform. This is calculated daily and paid monthly.
£ to be paid monthly or an annual % (paid monthly)*: Enter a monthly fee (£) if you have
selected to take a fixed fee.
Enter an annual % (paid monthly) if you have selected to take a percentage fee.
VAT%*: Here you can select how much of your fee is to be subject to VAT. If this section is
left blank, we’ll apply 0% VAT as default.
Trail offset*: Complete with a ‘Yes’ or ‘No’. Adding ‘Yes’ will enable trail commission to be
offset against the fee, ensuring that clients aren’t charged a fee and pay commission on
the same assets. If this section is left blank, we’ll apply ‘Yes’ as the default.
Minimum monthly fee amount (£): Only complete if you have selected the fee model to
take a percentage fee and there is a minimum monthly amount you wish to take as a fee. For
example, a monthly fee calculates to £4.50, but you wish to take a minimum fee of £5 each
month.
Maximum monthly fee amount (£): Only complete if you have selected the fee model
to take a percentage fee and there is a maximum monthly amount you wish to take as
a fee. For example, a monthly fee calculates to £12.50, but you wish to take a maximum
fee of £10 each month.
Platform level fee*: Here you can select which products will be in your platform fee model
and what products the fee is to be calculated against.
Product level fee: Only complete this section if you wish to set up a product level fee
model. On some products a fee can be calculated on and taken from the trading account
linked to that product.
You can set up a product level fee model for the following products only - Cofunds Pension
Account, AJ Bell Investcentre, Suffolk Life Annuities and Suffolk Life Trustees. Only
choose one of these products per fee model. Please note: the fee will be calculated on
both the stock and the cash held in this product, we are unable to calculate on just one or
the other.
Email: This information is required to ensure you receive important email based
communications from Cofunds.
Memorable word and Memorable date: This information is required to enable us to
verify your identity should you wish to contact us by telephone.
Representatives: This includes all those who you wish to be authorised to use any aspect
of the Cofunds’ service, including director, managers and other administration staff.
Registered individuals: Please indicate which Representatives are Registered Individuals
(RIs) as this will mean they can hold business against your firm.
Segment administrator:
- Your firm should have at least one, preferably more, segment administrators.
-Only segment administrators can set up and amend segments for your firm.
- Segment administrators require a data access security level at or above the client
ownership level (1 is the highest and 4 is lowest). We must also have the memorable
word and memorable date for your segment administrator in order to create a web
account for your segment administrator(s) to access this online.
Should you require any assistance in completing this form please contact our Adviser
Support Team on 0345 604 40011.
1 Calls may be recorded for training and quality purposes.
Issued and approved by Cofunds Limited, One Coleman Street, London, EC2R 5AA.
Registered in England and Wales No. 3965289. Authorised and regulated by the Financial Conduct Authority (FCA) under FCA Registration No. 194734.
FR006DATAGBUB 08/15
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