Collecting information and protecting your privacy
Our aim is to offer advice that helps you plan your financial future. To provide such advice, we need to know about your personal situation and your Adviser may request sensitive and private information about you, for example, your income, current financial arrangements, health, family commitments and any legal proceedings you may be involved in. Much of the information you provide will, as part of your application, be passed to the company whose products you apply for and details of how they use your information are included in their data protection literature.
If you are unable or unwilling to provide some or all this information, your Adviser will be unable to provide you with advice suitable for your circumstances. We do not collect personal information from third parties unless you authorise us to do so.
Lyfe Wealth Limited is committed to protecting your privacy. As we would like you to be a lifetime client, we need to earn your trust and assure you that we will keep your personal information confidential and secure and only for as long as is necessary. The criteria we use to determine how long this period is can be obtained from Lyfe Wealth Limited’s Data Protection Officer. We will use it with care and it will only be shared in the ways explained on this page, or if we are required by Law or the Financial Conduct Authority (FCA).
Your personal information will be held for a minimum of six years, or in instances whereby we have legal right to such information we will retain records indefinitely. This is collected for the purposes of providing advice in respect of the range of products and services outlined on this page. In addition, we will make every effort to ensure that the information you provide is recorded accurately and that it is only passed to companies who comply with the General Data Protection Regulations (GDPR). If it is required to send your information to third parties abroad, we will only do so to in circumstances authorised by you for the purposes of us providing financial advice and planning services.
Controlling and using your information
A Data Controller is someone who determines the purposes for and the way your personal data should be processed. Lyfe Wealth Limited and companies whose products and services you buy are all Data Controllers.
We use your information in a variety of ways:
- To introduce you to a range of products and services offered by the companies we are associated with (or may be associated with in the future).
- To help with administration.
- To contact you with details of changes to products and services you have bought.
- For business analysis and research.
- For marketing products and services we think may be suitable for you (unless you ask us not to send you this information).
- To comply with the Law and/or FCA requirements.
- To verify your identity by searching publicly available records held by credit reference agencies.
- To prevent fraud and money laundering we may pass your details to other companies, public bodies, including the police or to an insurer’s database. Insurance companies can search databases for any relevant information that exists about you.
We therefore process your data because it is necessary for:
- The performance of a contract to which you are a party.
- Compliance with legal obligations to which we as the controller are subject.
None of the information gathered about you will be used in automatic decision making.
Special data or sensitive personal data
If you apply for some types of insurance (e.g. life insurance, pensions, sickness, etc.) you will be required to provide details of your health, your ethnic origin or your medical history. Under the GDPR, this is regarded as your special data or sensitive personal data.
Your Adviser will have access to your medical details unless you prefer to complete a medical statement of health in private. If this is the case, please send it with your application marked for the attention of the “Consultant Medical Officer” in a sealed envelope. We do need your explicit consent to collect and process your health details, which of course you may withdraw at any time. This is provided by your overall agreement to this document.
We will record and use Your Special Data to make enquiries of insurance / investment providers in relation to insurance products that may meet your needs and to provide you with advice/guidance regarding the suitability of any product that may be available to you.
If you have parental responsibility for children under the age of 13, it is also very likely that we 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.
We will use special Data and any Criminal Disclosures in the same way as Your Personal Data generally, as set out in this document.
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.
Signing this form will also indicate that you have read and understood the provisions set out.
Mortgage credit checking
If you apply for a mortgage your information will be passed to the lender who will carry out a credit check. You will also have to provide details of any criminal convictions you may have had. These details will be passed to the lender to carry out any necessary checks.
Marketing and sharing your information
The information you give us will be added to any other details we hold about you. Lyfe Wealth Limited will never sell your details to a third party, but we may share your information with carefully selected companies we are associated with. Therefore, we (or they) may contact you (by post, email, telephone or other appropriate means) to tell you about products, services or offers we believe may interest you. The products and services may not be related to financial services. You can ask us not to contact you for this reason, at any time, by writing to us. This will not affect your relationship with your Adviser.
We may have to pass your details to another Adviser if, for example your Adviser is ill, or you need advice in a different product area. If your Adviser leaves we may pass your details to another Adviser so that we can continue to provide you with a high standard of service.
We may send your information to a third parties if it is essential in allowing us to progress any enquiry or application made on your behalf and to deal with any additional questions or administrative issues that lenders and providers may raise.
Your data protection rights
You have certain rights under the GDPR. These include the right to:
- Ask for a free copy of your personal information in a portable format.
- Stop us sending you marketing material about products and services.
- Have any incorrect information we hold about you corrected.
- Ask us to restrict processing of your personal data.
As the processing of your personal information is necessary for a legal obligation placed upon us by the FCA and may be required for the establishment, exercise or defence of legal claims, we will not be able to permanently delete your personal information until the end of the period we have deemed necessary.
We may record telephone calls, so we can check we have acted on your instructions correctly and to ensure we are giving you appropriate service. We may also monitor calls for security and training purposes.
We use the following cookies:
- Strictly necessary cookies. These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website and make use of any vouchers that we may issue.
- Analytical/performance cookies. They allow us to recognise and count the number of visitors and to see how visitors move around our website when they are using it. This helps us to improve the way our website works, for example, by ensuring that users are finding what they are looking for easily.
- Functionality cookies. These are used to recognise you when you return to our website. This enables us to personalise our content for you, greet you by name and remember your preferences.
- Targeting cookies. These cookies record your visit to our website, the pages you have visited and the links you have followed. We will use this information to make our website and the advertising displayed on it more relevant to your interests. We may also share this information with third parties for this purpose.
You can block cookies by activating the setting on your browser that allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or parts of our site.
If you have any complaints about the way we or your Adviser handled your personal information, please contact the Data Protection Officer at:
Lyfe Wealth Limited
32 Threadneedle Street
If you have any concerns or complaints as to how we have handled Your Personal Data 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