This agreement covers referral services for Equity Release (advised service), Mortgages (advised service), Pension Income (advised, guided and execution only services), Estate Planning (arrangement services including Lasting Power of Attorney, Wills), and Insurance, which are collectively known as The Services, and are provided by Age Partnership Group Limited and its associated subsidiary companies, collectively known as Age.
By making this agreement, the Introducer becomes eligible to make use of all of the above Services, but is under no obligation to use more than one such service in line with their preferences.
The Introducer will receive a fee on completion (the Referral Fee) in line with the commercial arrangement that may be agreed between both parties from time to time. Any Referral Fee agreed will be deemed to be inclusive of VAT and will be payable by Age no later than 7 days after completion of the product purchase by the referred customer (the Customer). Introducers who are members of or introduced to Age by a network (the Network) may be paid the Referral Fee via the Network, in line with the commercial arrangement that may exist between Age and the Network.
For initial equity release loan amounts in excess of £300,000 referral fees are subject to review and to be agreed by Age before payment.
Obligations of Age
Unless otherwise agreed in writing, Age undertakes full responsibility for all advice, guidance, arrangement and execution-only services that it provides and to discharge all obligations placed on it by all relevant regulatory bodies.
The Customer will become a Customer of Age for the purpose of their transaction and a record of business arranged will be maintained by Age for at least five years from when the Customer ceased to be a Customer of Age.
Age will not promote products and/or services to the Customer other than those for which the Customer has specifically been referred without the express consent of the Introducer.
Obligations of the Introducer
The Introducer is responsible for ensuring that customers are targeted appropriately and are not provided with any misleading information regarding the Services available.
The Introducer will be responsible for accounting to the Customer for any Referral Fee received, in accordance with the requirements of their relevant Professional Body (if applicable).
The Introducer agrees to co-operate fully in the investigation and resolution of any complaints received from a Customer introduced to Age.
Accepting any obligations brought about by the clause above, the Introducer will not otherwise divulge any confidential information relating to Age.
On registration, the Introducer consents to ongoing due diligence checks in accordance with the requirements of Age and the Regulator. The Introducer agrees to complete a “Due Diligence” questionnaire at the time of registration and to update the questionnaire if required by Age, following any periodic review carried out.
Under this agreement and for the purposes of data protection, Age is considered a Data Controller and the Introducer is also considered a Data Controller. Both parties shall comply with Data Protection Legislation and shall be responsible for their respective obligations thereunder. The Introducer is responsible for ensuring that they are appropriately registered with the Information Commissioner’s Office (ICO).
Prior to making a Customer referral to Age, the Introducer is responsible for ensuring that express consent has been obtained from the Customer. This consent must state explicitly that the Customer would like to be contacted by Age for more information on the Service(s); and that they may be contacted by Age by email, post and telephone. The Introducer must retain an adequate record of how consent was obtained, for a minimum of five years following the introduction, and shall provide evidence of this consent if requested by Age.
Age is responsible for ensuring that express consent has been obtained from the Customer, prior to sharing their information back to the Introducer.
For any Customer data that Age has permission to share back to the Introducer, the Introducer will ensure that this data is processed and stored lawfully and in accordance with Data Protection regulations.
Neither party shall be held responsible for any damages whatsoever to the other arising from a failure on their part for non-compliance with Data Protection Legislation.
The Introducer’s data is kept safe and secure and is not shared with any Third Parties, except where required by regulation, or where the Introducer has been introduced to Age by a Network or another Business Partner (the Business Partner) that Age has a relationship with, and in which circumstances it may be necessary for Age to provide the Network or Business Partner with information in respect of the provision of the Service(s) to the Introducer in order for Age to fulfil any obligations to the Network or Business Partner.
The Parties acknowledge that should either Party process Personal Data on behalf of the other, they shall be required to enter into further contractual arrangements that contain any required provisions as prescribed under Data Protection Legislation.
Communications from Age
Age may contact the Introducer from time to time by email, post or telephone where essential for the provision of the Service(s), including communications regarding important changes to the Service(s), or to update the Introducer on the progression of a Customer case where applicable.
In relation to the provision of the Service(s), the Introducer will also receive relevant updates and communications from Age via email.
The Introducer agrees to take sole responsibility for the channel and content of any promotions that it may conduct in relation to the Services, except where expressly agreed otherwise.
If the Introducer is regulated by the Financial Conduct Authority, it should satisfy itself that any financial promotions are conducted in line with its regulatory obligations.
If the Introducer is not regulated by the Financial Conduct Authority, it should satisfy itself that any promotions in relation to the Services are accurate and not in breach of any statutory regulations. If in doubt the Introducer should seek guidance from a suitable third party.
This agreement may be terminated at any time, without penalty, by either party giving notice in writing to that effect to the other. Such termination shall not affect the rights or obligations of the Introducer or Age in respect of business already completed or Customers who have already been referred by the Introducer to Age.