1) Our Firm

UK Endowments Limited is an appointed representative of Becque Wayman Investments Limited (BWI), which is authorised and regulated by the Financial Services Authority. UK Endowments Limited specialise in Traded Endowment Policies (TEPS) and similar products. We offer an internet based execution-only service through our website ukendowments.com for the buying and selling of TEPs, which means that we do not offer any advice nor exercise any judgement on behalf of buyers or sellers and all instructions are accepted on this basis.

Potential Buyers of Traded Endowment Policies who require investment advice will be directed to our associated company Endowment Surrender Plus may offer an advisory service.

If you make a valid claim in respect of these investments that we have arranged and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme. Details of the cover will be provided upon request.  Further information is available from the Financial Services Authority and the Financial Services Compensation Scheme Ltd.

We are bound by the Financial Services Authority’s Rules.

2) Our services

UK Endowments Limited are the owners of the Internet website ukendowments.com an online Trading Platform for with-profit endowment policies which enables Sellers of such policies to sell directly to Buyers. The website is designed to provide accurate factual information to aid potential sellers of traditional with-profit endowment policies and potential buyers to make the decision to sell or buy. If an occasion arises where we or one of our other clients has an interest, or we become aware of such interests in the business we are facilitating for you which may conflict with yours, we will disclose this interest to you in writing and obtain your consent before carrying out your instructions.

3) Our dealings with you

We normally ask our clients to give written instructions before we act for them but, at our discretion, oral instructions will also be acceptable. We would expect you to confirm this in writing.  Any communication from us to you will be in writing.

Once we have finalised the endowment purchase or sale for which you have given us instructions our file will be closed and we will not provide you with any further services in relation to that transaction unless requested, at which time we will be happy to do so.

4) Termination

Our authority to carry out your instructions may be terminated at any time, without penalty, by either of us giving the other written notice to that effect.  Such termination will be without prejudice to either party's obligations to complete transactions already initiated on your instructions whether written or oral.

5) Remuneration

We derive our income from commission charged on the sale of second-hand traditional with-profit endowment policies via the on-line Trading Platform, we may also receive renewal commission from insurance companies on TEPs transferred to our agency or the agencies of our associated company Endowment Surrender Plus or Becque Wayman Investments Limited. We reserve the right to act as an agent for third parties and to share commission received with them.

If, instead of relying on commission, we propose to charge you a fee, we will agree with you in writing beforehand how it will be calculated.

 6) Discounts

If we receive a commission or other form of benefit from the issuer of a security or from another intermediary, we will inform you, but need not quantify the amount unless you ask us to do so.

 7) Transaction records

We will account to you for transactions effected on your behalf either by means of a contract note, or by providing documents of title or certificates evidencing title.

We will supply, on request, to you or your appointed agent contract notes, vouchers and copies of entries in our manual or electronic records relating to your transactions.  We undertake to maintain such records for six years from the date of each transaction.  We treat all client records as confidential.  By signing a proposal or application form you give authority for us to pass the information contained therein to the product provider concerned.

8) Complaints

We take every care to provide the highest standards of service. However, in the event of a complaint, you should contact our designated Compliance Oversight Officer at Becque Wayman Investments Limited, 2A Curzon Road, Sale, Cheshire, M33 7DR – 01625 433222 - who will acknowledge the issue and send you a copy of our internal complaints procedure.  The matter will be investigated in line with our procedures and our findings reported to you.  If you are still not happy with the outcome, you then have to right to forward any eligible complaint to the Financial Ombudsman Service and the details on how to do so will be sent to you. 

We are covered by the Financial Services Compensation Scheme. 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. Financial advising and arranging is covered for 100% of the first £30000 and 90% of the next £20000, so the maximum compensation is £48000. Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. Further information is available from the FSA and the Financial Services Compensation Scheme Ltd.

9) Client money

WE DO NOT HANDLE CLIENTS' MONEY.  We never accept a cheque made out to us (unless it is in settlement of charges for which we have sent you a bill) or handle cash. The transfer of ownership in a policy from seller to buyer and the transfer of monies from buyer to seller is all handled by specialist firms of solicitors who are regulated by the Law Society.

10) Investment documents

All investments will be registered in your name unless you instruct us otherwise in writing. We will forward to you all documents showing ownership of your investments as soon as practicable after we receive them; where a number of documents relating to a series of transactions are involved, we will normally hold each document until the series is complete and then forward them to you.

11) UK Money Laundering Regulations

We are obliged to conform with the UK Money Regulations 1993 and also adhere to the guidance notes from the Joint Money Laundering Steering Group which require financial institutions to verify the identity and place of residence of each investor.  We will also request that you inform us how any monies being invested were obtained/accumulated.  This process may require sight of certain documentation. If you provide false or inaccurate information and we suspect fraud or money laundering we will record this.  We will not forward any applications or money to third parties/product providers until our verification requirements have been met. We take no responsibility for any delay in investing where money-laundering verification is outstanding.  In circumstances where sufficient verification is not received in a timely manner after we have received completed applications, the application(s) and any monies may be returned to you uninvested.

12) Confidentiality

It may be necessary for external professional auditors to inspect our records. We will not pass information relating to you to another party without your prior consent unless we are legally obliged to do so.

13) Data Protection

Information provided by you may be held, processed, disclosed and used by ourselves, professional advisers and any associated companies in servicing our relationship with you.  However, strict confidentiality will be maintained at all times.  It is understood that, unless you notify us otherwise, you agree to the storage, use and disclosure of such information.   This information may be disclosed to third party product providers in the course of providing our analysis and servicing of our relationship with you.  No information will be passed to another party without your prior consent unless we are legally obliged to do so.  You also agree that for the purposes described above your data may be transferred to countries outside the European Economic Area (EEA).  We may use and analyse your data, including the nature of your transactions, to provide you with information by post, telephone fax or e-mail to service and update you, as well as informing you of new investment opportunities.  If you would prefer to be excluded from these services, please write to Becque Wayman Investments Limited at 2A Curzon Road, Sale, Cheshire, M33 7DR

14)   Safeguards

For your protection, we are licensed by the Office of Fair Trading under the Consumer Credit Act, registered under the Data Protection Act, and authorised and regulated by the Financial Services Authority.