KRD Financial Ltd                   

12 Howson Lea 

Motherwell 

North Lanarkshire ML1 2JQ

IDD updated Feb 2024

Our Services & Fees 

Background – The Purpose of this Document

It’s great that you are considering taking advantage of our services. Before we complete any work for you there are some things that we want to tell you about our services and how we will charge for them. You can use this document to decide whether our services are right for you. 

Please do take the time to read it - it only takes a few minutes and it contains important information about our services. Please tell us if you need any extra help or support when using our services. 

Are our services regulated?

Yes – most of what we do is regulated by the Financial Conduct Authority. 

You can see full details of how we are regulated and what permissions we hold in Section 1 

Our services relating to protection and general insurance are covered by the Financial Services Compensation Scheme. You can also find more details about the compensation scheme in Section 1.

What kind of service do we offer?

We offer advice on life and health insurance products and household insurance. 

For most insurance advice we make recommendations from a range of insurers which is representative of the whole market. For some, more specialist, insurance products we offer advice from a narrower range or from single providers. For insurance advice we make recommendations from Aviva.

You can see details of our range of products and providers and further details about our services in Section 2.

There are limitations to our advice. For example, we don’t give tax advice. There is more about this in Section 2.

What do we charge for our services?

For insurance products we will receive commission from the product provider. We will not charge separate fees for these services. You can see more details about our charges in Section 3.

What if you have a complaint?

We hope that you will love the services that we provide. But if something does go wrong, then we will work hard to put things right. You also have access to our complaints procedures. If you are still not happy, then you may be able to refer your case to the Financial Ombudsman Service (FOS). You can see more information about our complaints procedures and the types of cases that FOS can consider in Section 4.

How will we handle with your personal data?

We will keep your personal information private and confidential, even if you are no longer a client. 

You can see full information of how we will handle your data in our separate Privacy Statements. We can provide you with a copy of these or they can be accessed via our websites. We may also make electronic checks to verify your identity or for fraud prevention. 

You can see more information about data privacy and electronic checks in Section 5.

Section 6 contains information about how we manage conflicts of interest and our procedures relating to client money. 

1. Regulatory Status & Protections

Our Regulatory Status 

We are an Appointed Representative of the PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA). The FCA is a financial regulatory body who is independent. 

PRIMIS is included on the Financial Services Register under registration number 187834 (PTFS) You can check this via the FCA website www.fca.org.uk or by calling them on 0800 111 6768.

PRIMIS Mortgage Network authorise us to advise and make arrangements in relation to:

· Life and Health Insurance 

· General Insurance 

· Private Medical Insurance 

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The Financial Services Compensation Scheme

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We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Further information about this scheme is available from the FSCS website www.fscs.org.uk or by writing to:

Financial Services Compensation Scheme
PO Box 300
Mitcheldean
GL17 1DY

Telephone: 0800 678 1100 or 0207 741 4100

2. Our Services

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What type of service do we offer?

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We provide an advised service. This means that we will assess your needs and make a personal recommendation for each insurance areas in which you have asked us to provide a service.

We act for you and not the insurer in connection with the services we provide.

Our advice is based on your circumstances at the time the advice is given. 

My recommendations are based on my understanding of current legislation, which is subject to change.

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Whose products do we offer?  

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Insurance

We offer products from a range of insurers for the following insurance products: term assurance, family income benefit, non-investment whole of life assurance, critical illness insurance, income protection insurance, private medical insurance, and insurance related products for properties and their contents. The range of insurers is based on a fair analysis of the relevant market.

We only offer products from One Family for over 50s life insurance.

We offer products from a limited number of insurers for Executive Income Protection.

We only offer Executive Key Person Income Protection from Legal & General.

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Are there any limitations to the advice we are providing?

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Our advice is limited to providing advice on appropriate protection and insurance solutions from our range of providers.  

We do not provide tax advice. If you are in any doubt, you should seek appropriate advice on any tax implication of the transactions that you enter.

We might sometimes suggest you consider placing a policy into trust. Where we do so, we are providing general guidance of the benefits trusts and/ or information on routes for placing your policies into them. We are not providing a specific recommendation about whether any individual trust is right for you. You should take specialist trust advice if you are in any doubt.

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Your duty to provide full and accurate information  

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It is your responsibility to provide full and accurate information to us and to any product provider or lender that we might recommend. 

Failure to disclose material information could invalidate any recommended insurance or could result in a mortgage application being declined. 

We rely on the information you have disclosed to us. We cannot be held responsible for any consequences arising from the information held on your file becoming inaccurate as a result of changes that you have not told us about. 

3. Our Fees and Charges

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What are our Fees and Charges?  

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Insurance

We will not charge you a fee for our services relating to insurance, but we will receive commission from the product provider. The commission will be calculated as a proportion of the premiums paid for the insurance product.

You will receive a quotation which will tell you about the fees and charges relating to any insurance policy that we recommend.

4. Complaints

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What to do if you have a complaint?

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We hope that you will be satisfied with the service that we provide. If you wish to register a complaint, please contact us via any of the following methods:

In Writing: The Customer Resolution Team, PRIMIS Mortgage Network, 3700 Parkside, Birmingham Business Park, Solihull. West Midlands. B37 7YT.

By Telephone:  0121 767 1139

By Email: complaints.solihull@primis.co.uk

PRIMIS will aim to deal with your complaint quickly and impartially. You can see our full complaints procedures via our website www.primis.co.uk and following the links for Customer Complaints from the home page. If we cannot resolve your complaint to your satisfaction, you may be entitled to refer it to the Financial Ombudsman Service.  

Full details can be found on its website at www.financial-ombudsman.org.uk

5. Data Security & Privacy

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Client Confidentiality  

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We will keep all your personal information private and confidential, even if you are no longer a client. This is in line with current data protection legislation. Our Data Privacy Statement provides full information about how we will use your data including:

· What data will be obtained;

· Use of data and who it will be shared with.

· Your right to access the Data.

We can provide a copy of our Data Privacy Statement on request, or you can find it on our website www.krdfinancial-ltd 

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Electronic verification of identity  

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We are required by law to confirm your identity. This means we need evidence of who you are and where you live. If the service is being provided to a legal entity (for example, a limited company or partnership) we are required to verify the identity of the beneficial owners, Directors, or partners.  This is to comply with money laundering regulations.

We may attempt to check your identity electronically based on information we hold.  We may also pass on and exchange information with appropriate agencies in order to carry out those searches and checks. Where the check is unsuccessful, we will require alternative proof of identification.

Electronic identity checks will leave an enquiry footprint on your credit file for each check carried out but will not affect your credit score. In making use of our services, you confirm your acceptance of our use of credit reference agencies which will result in such a record.

6. Other Important Information

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Payments to us  

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You should not pay any monies to us as we do not charge for our protection and insurance services. 

You should pay third parties, such as providers directly. 

We are not authorised to hold client money (that is, money which is to be held or processed on your behalf).

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Conflicts of interest 

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We maintain procedures to prevent and manage conflicts of interest arising between you and us, or PRIMIS, or between you and any other client of ours, or of PRIMIS’. 

Circumstances might occasionally arise where we consider that these procedures will not be sufficient to ensure, with reasonable confidence, that the risks of damage to your interests will be prevented. In these cases, we may not be able to act for you. Where our procedures would allow us to act, we will clearly disclose the following to you in writing before we undertake any business for you:

· a specific description of the conflict of interest that has arisen;

· the risks to you that arise from the conflict of interest;

· confirmation that we do not consider that our normal organisational and administrative arrangements are sufficient to mitigate these risks. 

Our disclosure will provide sufficient information to enable you to make an informed decision about the risks to you and whether you should proceed with the service. 

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Customer service

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It is vital that you fully understand the advice and documents given to you. If there is anything which might prevent this from happening, or may act as a barrier to this occurring, such as your health or a situation, please let me know as soon as possible. Such information will be held in strict confidence. Depending on the circumstances, our service will be personalised so that you receive the best possible experience in our dealings.

We are continually striving to maintain a high standard of service for all our customers so during our advice process we (our network PRIMIS) will email you to seek feedback on our service and the advice provided.

KRD Financial Ltd our Firm is an Appointed Representative of PRIMIS Mortgage Network a trading name of Personal Touch Financial Services Limited (Our Network)

During the course of dealing with us we will ask you to provide us with detailed personal information relating to your existing circumstances, your financial situation and, in some cases, your health and family health history (Your Information). We would like to explain to you what we will need to do with Your Information, and the various rights you have in relation to Your Information.

Your Information means any information describing or relating to you. Your Information may identify you directly, for example your name, address, date of birth, National Insurance number and the like. Your Information may also identify you indirectly, for example, your employment situation, your physical and mental health history, or any other information that could be associated with your cultural or social identity. 

In the context of providing, you with assistance in relation to your mortgage and/or insurance requirements Your Information may include:

· Title, names, date of birth, gender, nationality, civil/marital status, contact details, addresses and documents that are necessary to verify your identity.

· Employment and remuneration information, (including salary/bonus schemes/overtime/sick pay/other benefits), employment history. 

· Bank account details, tax information, loans and credit commitments, personal credit history, sources of income and expenditure, family circumstances and details of dependents

· Health status and history, details of treatment and prognosis, medical reports (further details are provided below specifically with regard to the processing we may undertake in relation to this type of information) 

· Any pre-existing mortgage and insurance products and the terms and conditions relating to these.

When we speak with you about your mortgage and/or insurance requirements we do so on the basis that a contract for the supply of services is in place between us. In order to perform that contract, and to arrange the products you require, we have the right to use Your Information for the purposes we set out below.

Alternatively, either in the course of initial discussions with you or when the contract between us has come to an end for whatever reason, we have the right to use Your Information provided it is in our legitimate business interest to do so and your rights are not affected. For example, we may need to respond to requests from mortgage lenders, insurance providers and our Network relating to the advice we have given to you, or to make contact with you to seek feedback on the service you received.

On occasion, we will use Your Information to enable us to meet any contractual responsibilities we may owe our Network, or for wider compliance with any legal or regulatory obligation to which we might be subject. If this were to arise we would be processing Your Information in order to meet a legal, compliance or other regulatory obligation to which we are subject.

Where you ask us to assist you with your insurance needs, in particular life insurance and insurance that may assist you in the event of an accident or illness, we will ask you information about your ethnic origin, your health and medical history (Your Special Data). We will record and use Your Special Data in order to make enquiries of insurance providers in relation to insurance products that may meet your needs and to provide you with advice regarding the suitability of any product that may be available to you.  

If you have parental responsibility for children under the age of 16 it is also very likely that we (and consequently our Network) will record information on our systems that relates to those children and potentially, to their Special Data.

The arrangement of certain types of insurance may involve disclosure by you to us of information relating to historic or current criminal convictions or offences (together “Criminal Disclosures”). This is relevant to insurance related activities such as underwriting, claims and fraud management. 

Your Special Data and any Criminal Disclosures will be used by us in the same way as Your Information generally, as set out in this Customer Privacy Notice.

When we process your Special Data and any Criminal Disclosures we do so on the basis that it is in the substantial public interest to be able to provide vital insurance products and as permitted by UK data protection related laws and regulations from time to time. Information on Special Category Data and Criminal Disclosures must be capable of being exchanged freely between insurance intermediaries such as our Firm, and insurance providers, to enable customers to secure the important insurance protection that their needs require.

We will collect and record Your Information from a variety of sources, but mainly directly from you. You will usually provide information during the course of our initial meetings or conversations with you to establish your circumstances and needs and preferences in relation to mortgages and insurance. You will provide information to us verbally and in writing, including email. 

We may also obtain some information from third parties, for example, credit checks, information from your employer, and searches of information in the public domain such as the voters roll. If we use technology solutions to assist in the collection of Your Information, such as software that is able to verify your identity on-line or to access your credit status and/or bank account entries, then you will be required to provide your consent for us or our nominated processor to access your information in this manner, and details of how such software operates will be provided to you prior to the activation of the service. 

In the course of handling Your Information we will:

· record and store Your Information in our paper files, mobile devices and on our computer systems (websites, email, hard drives, cloud facilities) and it will be accessed by employees and consultants within, or contractors engaged, by our Firm as necessary to provide our service to you and to perform any administration tasks associated with or incidental to that service

· submit Your Information to mortgage lenders and/or insurance product providers, both in paper form and on-line via mortgage lender/insurance provider systems, in order to progress any enquiry or application made on your behalf and to deal with any additional questions or administrative issues that mortgage lenders and insurance providers may raise

· input Your Information, along with full details of the mortgage and/or insurance, discussed with you or which you have taken out, to the computer systems of our Network

· use Your Information for the purposes of responding to any queries you may have in relation to any mortgage product or insurance policy you may take out, or to inform you of any developments in relation to those products and/or polices of which we might become aware

From time to time Your Information will be shared with or transferred to:

• our Network
• insurance providers
• third parties who we believe will be able      to assist us with your enquiry or application, or who are able to support      your needs as identified, such third parties will include but may not be      limited to, product specialists (including those within our Network and      other Appointed Representatives of the Network), estate agents, providers      of legal services such as conveyancing, surveyors and valuers (in each      case where we believe this to be required due to your particular      circumstances).

In each case for the purposes set out in this customer privacy notice, i.e. to progress your mortgage and/or insurance enquiry and to provide you with our professional services. 

Please note that this sharing of Your Information does not entitle such third parties to send you marketing or promotional messages: it is shared for the purpose of ensuring we can adequately fulfil our responsibilities to you, and as otherwise set out in this Customer Privacy Notice.

These parties may be located in the UK or elsewhere in the world where different privacy laws may apply which may not offer the same level of protection as UK law. We only make these arrangements or transfers where we are satisfied that adequate levels of protection are in place to protect any information held in that country and that the service provider acts at all times in compliance with applicable privacy laws.

Our Network is authorised and regulated by the Financial Conduct Authority (FCA). Our Network is responsible for the quality of the advice that we provide to you in relation to your mortgage and/or insurance products, where those products are regulated by the FCA. In the course of doing so, our Network will also process Your Information generally, including Your Special Data and Criminal Disclosures.

In the course of handling Your Information and Your Special Data/Criminal Disclosures our Network will:

· record and store Your Information and Your Special Data/Criminal Disclosures on Network systems run on secure servers. Your Information and Your Special Data/Criminal Disclosures will be accessed by authorised employees and consultants within, or engaged, by the Network as necessary for the purposes of supervision, training, quality audits, customer surveys and complaint handling or otherwise to comply with any other legal or regulatory obligation the Network may have

· use, and where appropriate transmit, Your Information and Your Special Data/Criminal Disclosures to respond to any request from the FCA, the Financial Ombudsman Service, HMRC, the Office of the Information Commissioner or any other regulatory, law enforcement or governmental body

· need to access and process Your Information and Your Special Data/Criminal Disclosures to deal with enquiries received from mortgage lenders and insurance providers that relate to the service this Firm has provided to you, including the payment of any commission or fees to us that may be linked to the product you have taken out.

Your Information and Your Special Data/Criminal Disclosures will be retained by our Network either electronically or in paper format for a minimum of six years and possibly for a longer period where this is required to enable the Network to fulfil its legal and regulatory obligations.

Please note that the above information is a summary of the Network Privacy Policy for customers. If, you wish to understand in more detail what the Network will do with Your Information and Special Data/Criminal Disclosures then please visit the Network Privacy Policy for customers located at https://www.primis.co.uk/index.php/terms-and-conditions/

Your privacy is important to us and we will keep Your Information secure in accordance with our legal responsibilities. We will take reasonable steps to safeguard against Your Information being accessed unlawfully or maliciously by a third party, accidentally lost, destroyed or damaged.

We also expect you to take reasonable steps to safeguard your own privacy when transferring information to us, such as not sending confidential information over unprotected email, ensuring email attachments are password protected or encrypted and only using secure methods of postage when original documentation is sent to us.

Your Information will be retained by us either electronically or in paper format for a minimum of six years, or if longer than six years, the duration of this Firm’s relationship with you.

You can:

• request copies of Your Information that is      under our control
• ask us to further explain how we use Your      Information

· ask us to correct, delete or require us to restrict or stop using Your Information (details as to the extent to which we can do this will be provided at the time of any such request)

· ask us to send an electronic copy of Your Information to another organisation should you wish

• change the basis of any consent you may      have provided to enable us to market to you in the future (including      withdrawing any consent in its entirety)

If you have any questions or comments about this document, or wish to make contact in order to exercise any of your rights set out within it please contact:

Mr. Kenneth R. Dougall 

KRD financial Ltd

12 Howson Lea, Motherwell, ML1 2JQ

Telephone number office 01698 269600 or Mobile 0776433791

If we feel we have a legal right not to deal with your request, or to action it in different way to how you have requested, we will inform you of this at the time.

You should also make contact with us as soon as possible on you becoming aware of any unauthorised disclosure of Your Information, so that we may investigate and fulfil our own regulatory obligations.

If you have any concerns or complaints as to how we have handled Your Information or Your Special Data/Criminal Disclosures you may lodge a complaint with the UK's data protection regulator, the ICO, who can be contacted through their website at https://ico.org.uk/global/contact-us/ or by writing to Information Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.