Agreement to Terms and Conditions for Investment

Definitions

Investor or You / your

Means you as an individual investing your money into The CybiWealth product.

Model Portfolio

Shares in a carefully selected group of companies which make up your investment into CybiWealth.

Investments

The shares in the companies held within the model portfolio.


Our Agreement With You

FIM Capital Limited (FIM Capital) is a company registered on the Isle of Man No. 012651V, whose registered office is at IOMA House, Hope Street, Isle of Man, IM1 1AP. FIM Capital is licensed by the Isle of Man Financial Services Authority and Regulated and Authorised by the Financial Conduct Authority.

Our product and services explained

The CybiWealth product – Your investment will be made on an execution only basis, which is explained further below, but means that the decision to invest into the CybiWealth product is yours alone and you have not received any advice or recommendations from FIM Capital.

Once your funds are invested they are used to purchase shares in a carefully selected group of well-known companies. This will be referred to as a model portfolio. The decisions made as to which companies' shares are bought and sold to make up the model portfolio lies with FIM Capital and they do not require your input or permission in relation to this part of the process. The stock selection and management is therefore described as being discretionary management as once you have made the decision to invest FIM Capital will make the decisions in relation to your model portfolio without referring to you.

Execution only investment – Means that only following a clear instruction from you, we will arrange for your money to be invested into the CybiWealth product on your behalf.

It is important that you understand and accept the following points.

  • You have not asked for, nor will you receive, any financial advice in relation to the arrangement of your financial Investment into the CybiWealth product.
  • The decision to proceed with the investment into the CybiWealth product is your decision alone and will not result from a recommendation or advice provided by FIM Capital.
  • You understand that FIM Capital take no responsibility for the suitability of this course of action in relation to your current circumstances, financial standing or objectives.
  • You also understand that FIM Capital will record the arrangement of your financial product as an execution only transaction. FIM Capital therefore take no responsibility for your decision to invest and you do not receive the protections afforded to a non-execution client where a full analysis of financial standing and financial and investment objectives has been determined prior to investment.

Managed Model Portfolio

The shares held within the CybiWealth product are a specially selected set of shares in well-known companies referred to in these Terms and Conditions as a model portfolio. FIM Capital manage the model portfolio on a discretionary management basis. A team of qualified investment managers will monitor the companies on behalf of the CybiWealth product and buy and sell shares according to market movement. This management process is completed without the need for your permission, i.e. we have discretion over the shares which make up the model portfolio, in which you have chosen to invest.

The purpose of these Terms & Conditions is to set out the basis upon which FIM Capital accepts your investment on an execution only basis and agrees to manage your investments ("your model portfolio").

Your agreement to these Terms and Conditions will come into effect once it has been signed (electronically or in writing) by both of us.


Your Undertakings

Acceptance and warranty

As an execution only Investor in the CybiWealth product provided by FIM Capital, FIM Capital does not perform a needs analysis on the basis that the decision to invest is yours alone.

You confirm that no financial advice was given to you by FIM Capital in respect of this Agreement or your current assets and liabilities. The decision to invest into the CybiWealth product, provided on an execution only basis and managed under the discretion of FIM Capital, has been made by you. You further understand that FIM Capital will not give financial advice to you in the future.

You agree to accept and to be bound by the Agreement and, save as otherwise disclosed by you, you warrant that you have full and unfettered powers to appoint FIM Capital to manage your model portfolio in accordance with these Terms and Conditions and further warrant that the portfolio is, and for the duration of this Agreement will remain, free from any lien, charge or other encumbrance.

Your understanding of these Terms and Conditions is integral to your investment into the CybiWealth product. You will be asked to confirm that you have read, understood and accepted the contents of these Terms and Conditions prior to making the final decision to invest.

You undertake:

  1. that all the information you have supplied to us is complete and accurate,
  2. to notify us promptly of any change to the information supplied; and
  3. to provide us with any additional information which may be required by us, any government or regulatory authority in connection with or relating to your investment.

You agree to indemnify FIM Capital against any loss, liability or expense whatsoever which may be suffered or incurred by you in connection with the services provided, except to the extent that such loss, liability or expense is due to the gross negligence, wilful default or fraud by FIM Capital.


Investment Management Services

You hereby authorise FIM Capital to manage on a discretionary basis your investments in a model portfolio (either now or in the future) and as such you appoint FIM Capital as your duly authorised agent to, on your behalf, purchase, sell and enter into any transaction related to the model portfolio of investments.

You understand that in signing and agreeing to the Terms of this Agreement you agree to the selection of securities in the model portfolio made under discretion by FIM Capital on your behalf of your model portfolio.

We will always deal for you on a best execution basis in accordance with the Isle of Man Financial Services Authority Financial Services Rulebook in force from time to time. This means that we will always attempt to deal to your advantage when placing trades for the model portfolio.

We may provide services to you under this Agreement notwithstanding that FIM Capital, or an associated company or person connected with it, may have a particular interest or relationship which could result in conflicting interests or duties.

A copy of our conflicts of interest policy will be made available on request.

Details of the relevant experience of FIM Capital and/or the qualifications and relevant education in relation to our team of Investment Managers can also be supplied upon request.

The Investment Objectives of the CybiWealth product

CybiWealth aims to capture both capital and income growth through a diversified portfolio of high calibre international companies listed on leading stock markets. The companies in the CybiWealth portfolio have been chosen for many reasons. They must have a strong balance sheet, pay a good dividend yield and hold a dominant position in their respective sectors. They need to have a high quality and properly incentivised management team who know their business inside out. They need to be mindful of environmental, social and governance issues and have strong regulatory standards. They need to be in the financial headlines for the right reasons.

Successful stock market investing is a long term business. The companies in the CybiWealth portfolio need to convince us that they and their industry will be around for many years to come. Patience is of the essence, especially when markets and share prices are falling, as will inevitably happen from time to time over the life of an investment portfolio.

CybiWealth is not a get-rich-quick scheme. It is a sensible way of accumulating wealth through investing in some of the world’s leading companies and then allowing those companies to flourish over the course of many years, to the benefit of their customers, their staff and, of course, their shareholders.


Anti-Money Laundering ("AML")

FIM Capital is required to review your information and the flow of your funds to and from the investment for signs of money laundering and / or the financing of terrorism. This is in terms of various pieces of Isle of Man legislation including, but not limited to, the Anti-Money Laundering and Countering the Financing of Terrorism Code 2015. This is referred to as Anti-Money Laundering or AML in these Terms and Conditions.

Where all necessary information has not been received, FIM Capital will treat the transaction as an unregistered transaction and no purchases or sales will be made nor any advices sent, until all necessary information has been received, including but not limited to the following:

  1. not being able to verify the authenticity of an instruction;
  2. the non-receipt of AML verification information and documentation;
  3. verification of the banking details where this has been changed from those on file.

The Investor authorises FIM Capital to accept instructions for online investing by email and hereby waives any claim that he / she may have against FIM Capital and indemnifies FIM Capital against any loss incurred as a result of FIM Capital's receiving and / or acting upon such online or email instruction.


Risk Warnings

FIM Capital will not undertake transactions in warrants* on behalf of the model portfolio. On occasions, however, warrants may be received into the model portfolio, for example, by means of a bonus issue or transfer. In these circumstances, we may elect to sell such warrants.

Where the portfolio includes illiquid instruments, such as warrants, there is the risk that disinvestment instructions may be delayed until such time that the instruments can be sold.

The value of your investment may go down as well as up. Past performance is not necessarily a guide to future performance. The Investor bears the total investment risk, which includes currency risk where applicable. The inclusion of foreign securities in a portfolio is subject to risks including but not limited to potential constraints on liquidity, the repatriation of funds, macroeconomic risks, political risks, foreign exchange risks, tax risks, settlement risks and the potential limitations on the availability of market information. Fluctuations or movements in exchange rates may cause the value of any underlying investments to go up or down.

* a security that entitles the holder to buy the underlying stock of the issuing company at a fixed price until the expiry date.


Custody Services

Investments in your portfolio may be registered in your name or in certain instances the name of nominee companies. Investments may also be registered in the name of appropriate eligible custodians; whose role it is to hold investments in safekeeping on your behalf.

All title documents will be held in such manner that it is readily apparent that the investments to which they relate do not belong to FIM Capital or its associates. The beneficial ownership of each investment will be readily identifiable by the custodians and FIM Capital.

In the choice and use of any global custody bank we will act in good faith and with due care. Charges may be made in respect of the registration and custody services specified above. If such charges are made, we may settle them out of your portfolio and such charges will be subject to the minimum charges as set out in each investment Application Form or instruction and as varied from time to time.

Except as outlined above, this Agreement gives FIM Capital no borrowing powers and we have no power to lend securities or borrow securities from third parties or to charge securities to secure borrowings in respect of your portfolio.


Client Money

FIM Capital operates a pooled arrangement for holding client money in accordance with the Isle of Man Financial Services Authority Financial Services Rule Book.

What is a client bank account? A client bank account is a bank account held by, and in the name of, FIM Capital Limited Client Account, in which we will hold your money on trust for you while it remains in the account. All money held in a client bank account is referred to as client money.

A client bank account is specially created by us for the purpose of holding your money and the money of other clients. The client bank account is segregated from any other bank account in our name holding money which is our money. All client bank accounts are held at recognised banks. A recognised bank is a bank which holds a licence issued by the Isle of Man Financial Services Authority for deposit taking or is authorised under the law of another acceptable country or territory to carry on activities corresponding to deposit taking. A general client bank account usually holds money of several clients. The money may be held at one bank or the money may be in multiple bank accounts spread across several banks. In the event of a default of a bank where we have a general client bank account, client monies held in all of our general client bank accounts will be pooled (even if money is held in more than one general client bank account and the accounts are held in more than one bank). In this situation, each client who has money in the general client bank account will lose an equal proportion of their money, whether or not the bank your client money is held with is in default. This loss will be adjusted by any compensation arrangements in place.

All client accounts will be non-interest bearing.


Data Protection

By accepting these Terms and Conditions you consent to FIM Capital holding and processing personal data about you.

This personal data will consist of both information provided by you directly to us and data that we have obtained in relation to you by use of internet and other sources. We will securely hold and process this data to enable us to verify your identity, manage your account and where contracted to provide discretionary advice or other services, do so with all relevant information available for consideration.

FIM Capital has an obligation to only hold information that is:

  • Processed lawfully, fairly and in a transparent manner;
  • Collected for specified, explicit and legitimate purposes and not further processed in a manner incompatible with those purposes;
  • Adequate, relevant and limited to what is necessary;
  • Accurate and, where necessary, kept up to date;
  • Kept in a form that permits identification of data subjects for no longer than is necessary;
  • Processed in a manner that ensures appropriate security of the personal data including protection against unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures.

FIM Capital will not reveal your personal data to any third party unless required to by law or as necessary in the administration of our contract terms with you for example to our agents, nominees, custodians or associates.

All personal data will be held by FIM Capital for 6 years following the end of our client relationship. However, during the time from the opening of your account and the initial secure retention of your data to the end of the retention period you have rights under the regulations, within certain parameters, as follows:

  • Right of access – should you ask us in writing we will provide you with a copy of all personal data held in relation to you.
  • Right to rectification – If you believe the personal data relating to you is inaccurate we can apply to have it amended.
  • Right of erasure (right to be forgotten) – you can apply to have your data with us erased, once your account is closed under certain circumstances as long as it does not conflict with any of our compliance under Isle of Man law.
  • Right to restriction of processing – you may restrict the way in which we use your data under certain circumstances.
  • Right of data portability – you can request that we provide your personal data, or aspects of it, to a third party nominated by you.
  • Right to object to processing – you can object to automated profiling (note this is not used by FIM).
  • Right to complain – you have the right, should you believe that your personal data has not been handled correctly to complain to either our Data Protection Officer who is Mrs Julie Haslett, at JHaslett@fim.co.im, telephone 01624681250 or at our address: IOMA House, Hope Street, Douglas, Isle of Man, IM1 1AP or directly to the Supervisory Authority, The Information Commissioner at First Floor, Prospect House, Prospect Hill, Douglas, Isle of Man, IM1 1ET.

Should you wish to exercise any of your rights please contact our Data Protection Officer, ideally in writing (including electronic formats) with details. Equally FIM Capital has the right under the Regulations to refuse a request from you where it is deemed excessive or unmerited; if this is the case we will respond to you in writing justifying our decision.

We endeavour to hold all data securely and have systems, both manual and computerised to ensure that all information relating to our clients, employees and relating to FIM Capital itself are held as securely as possible.


Confidentiality

We will use reasonable endeavours to ensure that all confidential information relating to you and your portfolio is kept confidential. However, you authorise us to disclose information (confidential or not):

  1. to our employees (or employees of our agents, nominees, custodians or other persons appointed by us in connection with your portfolio) in order that they may fulfil their duties in terms of this Agreement;
  2. to the Isle of Man Financial Services Authority and any other regulatory authority, to the extent that they are entitled to the information sought;
  3. otherwise as may be required by law, best investment business practice, industry regulations or codes of practice.

Telephone conversations

Telephone calls may be recorded and monitored.


Income

FIM Capital shall either reinvest or pay out all excess income or distributions arising from the investments from time to time as chosen by you and per the investment specific rules. FIM Capital shall thereafter manage such reinvested income, which shall be regarded as forming part of the investments subject to this Agreement.


Fees

An annual management fee 0.75% of assets under management is levied on all investments entered into under this Agreement. An annual safe custody fee of 0.075% will be levied against the portfolio. These fees will be calculated daily and periodically deducted from the portfolio.

All fees payable to FIM Capital are subject to amendment by FIM Capital on three months' electronic notice to the Investor.

In addition, there may be charges levied by third parties in relation to, for example, debit / credit card charges, bank charges in relation to the transfer of funds to your portfolio or third party brokerage fees which are not charged by or payable to FIM Capital. Where these third party fees are charged to FIM Capital we reserve the right to pass these on in full. In the event of FIM Capital becoming aware of an increase in these third party fees FIM Capital will endeavour to advise you accordingly, however the three months’ notice period outlined above will not apply.

You may request additional details of the fees received by FIM Capital should you wish.


Online Investing

Definitions:

"CPA" means the Consumer Protection Act 1991

"ETA" means the Electronic Transactions Act 2000

"Online Services" means the FIM Capital website and any services offered by FIM Capital through electronic means, including but not limited to the online investment services, CybiWealth website, CybiWealth mobile applications and email instructions.

"You" and "Your" means any visitor to or user of FIM Capital's website or the Online Services.

Your access to and use of the Online Services, and any agreements concluded in respect thereof, is subject to the following terms and conditions. By using the Online Services, you acknowledge that you have read, understood and agree to be bound by, and to comply with, these terms and conditions and any further terms and conditions that FIM Capital or the relevant product supplier may prescribe from time to time.

No provision in these terms and conditions is to be interpreted or construed as excluding or waiving any rights that you may have in terms of the ETA, the CPA or any other applicable laws.

FIM Capital reserves the right to accept or reject any application for registration for use of the Online Services in our discretion. Our decision in this regard will be final and binding and no correspondence will be entered into.

Use of the Online Services is restricted to registered users only.


Use of the Online Services

All instructions, applications or Agreements submitted through your account or login details will be regarded by us as originating from you.

By registering for the Online Services you authorise FIM Capital to accept such instructions, applications and Agreements and indemnify and hold FIM Capital, our directors, employees and service providers harmless against any loss incurred or suffered by you or any third party as a result of us acting upon or failing to act upon such instructions, applications or Agreements (including our acting upon any unauthorised, erroneous or incomplete instructions, Agreements or applications) to the extent permitted by law.

By submitting an instruction, application or Agreement electronically using the Online Services, you warrant that:

  • you are authorised to do so; and
  • all of the information submitted (including any supporting documentation) is accurate, true and complete;
  • you will comply with all of our Terms and Conditions; and
  • you will comply with all applicable legal requirements.

You acknowledge that:

  • the verification mechanism(s) adopted by FIM Capital for the Online Services may enable you to access all Online Services and, accordingly, unauthorised use of the verification mechanism(s), including your login details, could expose you to fraudulent instructions on any of your accounts held with FIM Capital;
  • an instruction, application or Agreement cannot be cancelled, reversed, amended or revoked by you once submitted to us; and
  • FIM Capital will be entitled to act upon any instruction, application or Agreement received, even where it has been submitted erroneously or in duplicate.

You undertake to ensure the confidentiality of your login information and any other information forming part of any verification mechanism adopted by FIM Capital at all times. You agree to ensure that this information is neither easily accessible nor disclosed to anyone else.

You undertake to logoff from the Online Services in the prescribed manner. Failure to logoff in the prescribed manner could result in the submission of unauthorised instructions for which you will be responsible and in respect of which you indemnify FIM Capital against any loss incurred or arising as a result of our acting upon such instructions.

Where you reasonably suspect that your login information or any other information forming part of any verification mechanism(s) adopted by FIM Capital has been or will soon be compromised, or you reasonably suspect that someone has fraudulently used your account, you must notify FIM Capital immediately by emailing support@cybiwealth.com during FIM Capital’s operating hours of 8am to 4pm GMT Monday to Friday, excluding public holidays.

On receipt of your instruction, FIM Capital will suspend access to your online account and issue you with new login details as required.

You acknowledge and accept that:

  • the website, or the Online Services may be unavailable from time to time; and
  • FIM Capital will not be responsible for any loss incurred or suffered arising from any cause whatsoever as a result of the unavailability of the website, mobile applications and Online Services.

FIM Capital reserves the right to:

  • accept, reject or suspend the processing of any application, Agreement or instruction;
  • deactivate your login details or close your account; or
  • terminate or restrict your access to the website or the Online Services at any time, without notice to you, for any reasons whatsoever.

FIM Capital's decision in this regard will be final and binding and no correspondence will be entered into.


Compliance with Legislation

The Investor warrants that any investment amount pursuant to the acceptance of this Agreement will be obtained from legitimate sources, and that the Investor is not prohibited from investing by any legal restrictions in their home jurisdiction, has complied with and will continue to comply with all relevant legislation, including, but not limited to AML and income tax legislation.

FIM Capital reserves the right to request any additional evidence to identify the source of this investment amount. This is a required process in the AML review.


Amendment or Termination of Agreement

Any amendment of any provision of this agreement shall be in writing and shall be by means of electronic notification between FIM Capital and the Investor. No addition to, variation or amendment of this Agreement shall be binding unless accepted by both parties. The parties however agree that this Agreement shall be amended to the extent that it may be required in order to comply with new or amended rules or regulations.

FIM Capital or the Investor shall be entitled to terminate this agreement after notice in writing at any time. Upon termination, the portfolio will be disinvested and the proceeds returned to you subject to the processing times of the sales of the underlying investments. You will be provided with a detailed final statement of account.

The Investor hereby consents to FIM Capital making enquiries of whatsoever nature for the purpose of verifying the information disclosed in this application and the Investor expressly consents to FIM Capital obtaining any other information concerning the Investor from any source whatsoever to enable FIM Capital to process this application.

FIM Capital may in certain instances receive an intermediary fee from product suppliers. In all circumstances such payments will be fully disclosed to you.

FIM Capital cannot be held responsible for any acts or errors of commission or omission by third parties.

FIM Capital cannot be held accountable for the timing standards, practices and procedures of third parties.


FIM Capital Banking Details

Deposits of monies for the purposes of making investments in terms of this Agreement should be to the accounts stipulated in the specific investment instructions. All deposits must be made into the designated product bank accounts.


Compliance Officer

FIM Capital Limited
IOMA House
Hope Street
Douglas
Isle of Man
IM1 1AP
Telephone: +44 1624681250
Email:enquiries@fim.co.im


Complaints

Complaints should be directed to enquiries@fim.co.im.


FIM Capital's Contact Details

FIM Capital Limited
IOMA House
Hope Street
Douglas
Isle of Man
IM1 1AP
Telephone: +44 1624681250
Email:enquiries@fim.co.im

 

Back