11. Annual Duty of Care/Due Diligence Questionnaire

Annual Duty of Care Questionnaire for (Company) – (Year)

Company Overview

When was …………… established?

Who are the owners of ……………? How many years’ experience have they got in the financial/ investment field?

Who are the directors of ………………? What is their experience of the financial advisory field and investment work?

What does the corporate structure look like?

How many staff do …………… employ; and of these how many are practicing financial advisors?

How many years’ experience have these advisors got individually? How do you rate their success in their field?

What is the company’s recruitment strategy and process? How does it ensure sufficient experience and knowledge in its staff group?

What training plans are in place and have staff got individual training plans? How frequently are these reviewed?

What is the company’s strategy in respect of long term sick leave/loss of financial advisor?

If our personal financial advisor left or was on long term sick leave who would replace him and what experience would they have?

Corporate Governance and Controls/processes

What is the company’s Turnover?

What is the company’s profit?

What are the assets under management?

What % of these are Charities (Direct) from Introducers?

How frequently does the company consider their own investments/strategy and portfolio?

What processes has the company got in place to control risks to their investments; strategies; physical operations?

What disaster recovery plans has the company got?

Who has responsibility for the investment strategies?

What are the decision making processes?

What audit and monitoring processes are in place with the company?

What Professional Indemnity Insurance is in place?

Are there any conflicts of interest and what is the company’s strategy for dealing with any that arise?

What actions are taken to ensure that the company is meeting ongoing legislation rules?

Please advise us of your Due Diligence process for outsourced providers and what is the frequency of your reviews of them.

Cost and Service

Do we have a service agreement in place? If so how long does it run and when and how often will it be reviewed?

What share class is being used on our investments?

Is our share portfolio aggregated for charging purposes?