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Section 4: Adviser charge agreement
1. Payment of adviser charges
1.1 We will pay to your financial adviser the adviser charge in
accordance with this agreement or as otherwise directed by you
and your financial adviser.
1.2 The adviser charge that you have agreed to pay your financial
adviser is a matter between you and your financial adviser.
When we pay an adviser charge to your financial adviser, this is a
payment we are making because you have asked us to do so and
on your behalf. We do not assess the suitability or amount of the
adviser charge you have agreed to pay.
1.3 If you have any queries about your adviser charge, including
whether you are entitled to a refund, you should ask your
financial adviser.
1.4 If, subject to the terms of this agreement, an adviser charge is
stopped, not paid or is re-credited to your product portfolio,
you may remain liable to reimburse your financial adviser. You
should check the terms of your arrangement with your financial
adviser.
1.5 The payment of an adviser charge is separate to any charges
that you may be required to pay Aviva in respect of your product
portfolio(s).
1.6 We will only pay an adviser charge to your financial adviser’s
firm account or as otherwise directed by your financial adviser.
1.7 Once we have received your instruction to pay an adviser
charge, we will not be able to stop the payment if you
subsequently ask us to do so.
1.8 We will tell your financial adviser if you instruct us to alter or
stop the payment of any adviser charges.
1.9 Where there is insufficient cash to cover the payment of either
an ongoing charge or spread initial adviser charge, we reserve
the right to sell investments to cover these charges. You can find
further information about this in your product portfolio(s) terms
and conditions.
2. Calculation of your adviser charge
2.1 Initial adviser charge – we will deduct the amount which you
have agreed with your financial adviser to cover the cost of any
initial advice from your payment(s) before we invest them.
2.2 The spread initial adviser charge on regular contributions
is taken for a set period of time. It is taken either monthly,
quarterly, half-yearly or annually, as agreed by you with your
adviser.
2.3 Ongoing adviser charge – we will deduct the amount which you
have agreed with your financial adviser to cover the cost of any
ongoing advice from your product portfolio(s). If the amount you
have agreed is a percentage of your product portfolio(s) then
this will be calculated based onthe daily value of your product
portfolio(s) on the date the calculation is carried out, this means
the amount of ongoing adviser charge deducted will vary.
3. Cancelling product portfolio(s)
3.1 If you decide to cancel any of your product portfolio(s) within
the cancellation period we will still pay the initial adviser charge
to your adviser.
4. Change in financial adviser
4.1 You should let us know as soon as possible if you change your
financial adviser. If you change your financial adviser, wewill
stop paying further adviser charges to that adviser. Ifyou change
your financial adviser and you wish to pay adviser charges to a
new financial adviser, you will need to complete anew adviser
charge agreement.
4.2 If your financial adviser tells us that it has transferred
its business to another authorised firm which will take
responsibility for providing you with ongoing service, we will
transfer all future adviser charges to the new firm.
4.3 On a change of financial adviser, we may provide details of the
adviser charges paid under this agreement to your new financial
adviser to the extent required to enable your new financial
adviser to provide you with advice and services in connection
with your product portfolio(s) and entering into this agreement
is your consent to allow us to do so.
5. Termination of this agreement
5.1 You can terminate this agreement at any time by giving
us 30days’ notice. We will then cancel the adviser charge
agreement at the next available opportunity. You do not have to
give us any reason why you are terminating the agreement and
we will not charge you for doing so.
6. Keeping you informed
6.1 We will provide you with written confirmation when we set
up the arrangements to pay the adviser charges you have
instructed us to pay to your financial adviser. We will ask you to
check the information that we provide to you. You will need to
contact your adviser if you believe there are any errors.
6.2 We will also provide you with a statement every three months
which will set out all of the adviser charges paid over this period.
7. Miscellaneous
7.1 This agreement does not give any rights to any person other
than you and us. No other person shall have any rights under
the Contracts (Rights of Third Parties) Act 1999 to rely on any
terms under this agreement.
7.2 This agreement is to be governed by and interpreted in
accordance with the laws of England. The courts of England will
have jurisdiction over any dispute arising from this agreement.
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