Privacy and Data Protection
The personal data we use
To provide guidance and advice to you, we need know about your personal and financial circumstances.
Our role in the advisory process is to analyse the data provided by you regarding your personal circumstances and source solutions from various financial product providers in the market, such as mortgage lenders and insurance providers.
Axess financial services fully comply with the law as set by GDPR and our regulators, The Financial Conduct Authority. We keep all your personal information confidential and secure and is used for the reason given in the table below. This information is only held for as long as necessary for the purpose of providing advice. We do not pass on your details to any external marketing company. It is only passed on to companies that comply with the GDPR rules to source their products and make applications on your behalf. Each company will have their compliance information on their Client Proposition documents provided on application.
Unless you can provide some or all of the information required for the advisory process we are unable to provide you the suitable advice to your circumstance as the advice would be based on incomplete information.
What information do we require
Types of Data
Examples of how we use it.
- Who you are
- Where you live
- How to contact you
- Servicing your product
- To provide financial advice
- to retain records of any services or advice provided to you by us in order to defend potential legal claims or complaints
(We do not collect personal information from third parties)
- Family details
- Financial Details
- Lifestyle and social circumstances
- Health details
- Employment Details
- to apply for decisions in principle for mortgage products and/or quotations for protection and/or general insurance products on your behalf
- To make sure our products and services are suitable to you.
- to refer you to third party advisers to provide you with advice if necessary (in the circumstances we are unable to provide a solution). You will be provided with options go ahead or not before any action.
- To help with administration.
- To contact you with details of changes to products you have
- For business analysis and research.
- For marketing products and services
we think may be suitable for you (unless you ask us not to send you this information).
- Bank and/or card details
- How you use your product
- Changes you make to your product or account
- Service your products.
- For the applications for mortgage and/or protection and/or general insurance products.
- To verify your identity and financial profile by searching publicly available records held by credit reference agencies.
- To prevent fraud and money laundering we may pass your details to other companies, public bodies including the police or to an insurer’s database. Insurance companies can search databases for any relevant information that exists about you.
- Affordability checks (mortgages only).
Open data & public records
- Electoral register
- Land register
- Other information about you that is openly available on the internet
- To provide financial advice
- Product & Service administration
Sensitive personal data : health and lifestyle information.
Details of health to establish insurable interest for underwriting purposes.
Administring some types of insurance such as life, sickness etc
When you apply for a product or to receive a service from us, the application form you fill out or the resulting contract may contain additional conditions relating to the way we use and process your personal information. These will apply in addition to the uses described in this document.
In some cases, the product provider may use software or systems to make automated decisions (including profiling) based on the personal information they have, or collect from others. Based on this information the provider and/ or us, can decided not the provide the service or product requested.
Special Category Data
These are data related to health, lifestyle and criminal records. We are required by law to perform these check to prevent activities such as fraud, money laundering or identity theft.
Special category data and criminal offence data is subject to additional restriction on its use and additional grounds for processing are required to those already set out in the table above this section. It is expected that the Data Protection Bill currently going through the Houses of Parliament will contain something called “derogations” meaning that you are unlikely to require explicit consent from your customer to process this data.
Your Adviser will have access to your medical details unless you prefer to complete a medical statement of health in private. If this is the case, please send it with your application marked for the attention of the “Consultant Medical Officer” in a sealed envelope.
Controlling and using your personal information
Axess Financial Services and the product providers are all Data Controllers. They are responsible for your data and the way the data is used to provide you a service.
Your Data Protection rights
You have certain rights under the GDPR. These include the right to:
Ask for a free copy of your personal information in a portable format.
- Stop us sending you marketing material about products and services.
- Have any incorrect information we hold about you corrected.
- Ask us to restrict processing of your personal data.
As the processing of your personal information is necessary for a legal obligation placed upon us by the FCA and may be required for the establishment, exercise or defence of legal claims, we will not be able to permanently delete your personal information until the end of the period we have deemed necessary.
If you have any queries or need further information about our data protection policy you can contact the following by writing:
Data Protection Officer,
Axess Financial Services
101 Clapham High Street,