The purpose of our Terms of Business (TOB) document is to outline a set of rules and criteria which we will both abide by for the time you have an account with TAM Europe Asset Management (TAM Europe). The full TOB document should be read in full before you agree to open an account and can be found here.

Summary 

We understand that our full TOB is alot of information to take in and therefore feel it would be helpful to provide you with the below summary to guide you to key points of our relationship. You can use the full TOB document as a reference guide if ever you have a query regarding your account or how we are operating it in the future.

Our Role

We are discretionary investment managers which simply means we will make decisions on your behalf as to how your money should be invested. You will not need be involved in the process and we are not required to refer decisions to you before they can be put into action. This helps streamline the process and means we can react faster to market conditions. We do not provide financial or investment advice. We will follow the guidelines set down by you and your adviser when you select a portfolio risk profile. It is important that you understand this point. We are guided by you and your adviser in respect of, amongst other things, the level of risk you are willing to take with your assets. If you are concerned about this you should discuss it with your adviser.

We will not be liable for any errors in defining the level of risk that you are prepared to take with your investments. That is a matter for you and your adviser. As to which see below.

Your and your adviser’s role

Where you have been introduced to TAM Europe through a financial adviser they will have taken you through a financial review and have a full understanding of your financial circumstances and goals. It is their job to determine your investment goals and together you decide what level of risk you are willing to take. The suitability assessment of any of our services is determined by your adviser (see part 4 general terms & part 5 of the specific terms). They are also responsible for ensuring that your current and future financial needs are able to absorb any risks that your chosen portfolio may be subject to. We can rely on the information given to us by you and your adviser and therefore we request that any changes which may affect how we invest for you are notified to your adviser and TAM Europe, as mentioned in point 2.6 of our general terms.

Your adviser will have conducted a full Know Your client (KYC) survey and be fully aware of all your personal circumstances before recommending the use of TAM Europe as a Discretionary Asset Manager. During this stage of the process you and your Financial Adviser will confirm to TAM Europe all the relevant facts in respect of the amount you wish to invest, the time span of your investment and the use of a specific financial product, such as a Life Bond, Pension, ISA etc, where appropriate.

Once these facts have been established your Financial Adviser will notify TAM Europe of these facts and indicate which TAM Europe service is appropriate for your requirements taking into account the Risk Level, and the choice between the different TAM Europe services of Premier or ESG. TAM Europe will then produce an appropriate Investment Report that clearly defines the role TAM Europe has in the investment process. The Investment Report describes the process by which TAM Europe make investments on your behalf, the security behind your investment portfolio and how the choice of investments is made by TAM Europe.

At this point you and your Financial Adviser will review the Investment Report in conjunction with TAM Europe’s Terms of Business and the Client Application Form contained within the report. If you and your Financial Adviser agree with the content of the Investment Report, which clearly sets out your Investment Risk Profile (as determined by you and your adviser), the fees and charges that will be applied to your portfolio and the protection available in support of your investments then the completion of the process is simple.

By signing the relevant page of the Investment report both you and your Financial Adviser confirm that you have agreed that this is how TAM Europe will manage your investment portfolio on a fully discretionary basis and the Terms under which the process will proceed. This means that all investment decisions and transactions will be carried out by TAM Europe on your behalf without the requirement for further documentation.

Your Financial Adviser now needs to send the duly signed pages of the Investment Report, along with your Anti-Money Laundering certification or documentation to TAM Europe. Your Financial Adviser will also ensure that your assets are transferred to TAM Europe so that your portfolio can be formally constructed.

Direct Accounts

Where you have come to us directly without using an adviser then you alone have made your own decisions in relation to the risks you are willing to take. By signing the application and agreeing to these terms of business you are instructing TAM Europe to invest under a certain portfolio choice and you take full responsibility for the decision making process that led to you opening an account and investing along with all information you have provided.

Communication, Updates and Information

All information is available through our web portal. You will have 24/7 access through your login which will either be provided directly or through your financial adviser. From there you can monitor your portfolio and the investments made. By opening an account you agree to check the account regularly and are responsible for saving or printing valuations and statements at least annually.

Fees and Charges

For the services we provide you agree to pay us as outlined in our fees and charges schedule. The level of charge can differ depending on the portfolio service you select. Please ensure you have reviewed the schedule in full before signing The Investment Report/application form. Where you have used the services of an adviser, you may have also agreed fees for the initial investment and for ongoing reviews and advice. These can be outlined in the TAM Europe proposal so please check to ensure they are correct.

Custodian

TAM Europe use the services of Pershing Securities International Limited (PSIL) as our custodian. This means that when you invest your money with TAM Europe it is held securely with Pershing, one of the largest custodians in the world. They are part of the Bank of New York Mellon Corporation and look after over £40billion in assets across the globe. They have special terms and those are outlined in the Pershing section at the end of the full terms.

Regulator

TAM Europe is authorised and regulated in Spain by the Comisiόn Nacional del Mercado de Valores (CNMV) with registration number 295.  Should you have a complaint whilst using our services, we have a full complaints procedure in place in order to resolve matters as quickly and fairly as possible. The complaint procedures and our contact details can be found in these terms and through our website. We are members of the Fondo General de Garantia de Inversiones (FOGAIN) which is the scheme set up in Spain to compensate investors in the event of the failure of an entity providing investment services, which provides additional protection of your investments.

This summary should have given you a good idea of what you will get from the TAM Europe service, but the full terms should be reviewed. We hope this has been helpful and if you have any questions please refer to your adviser or TAM Europe.

Downloads

TAM Europe Terms of Business

TAM Europe Order Execution Book