Your personal privacy and the security of your personal data are of primary concern to us. We believe you should be aware of who we are, the types of information we may collect about you and what we do with your personal information.
Who we are
This website is owned and operated by iWealth. When we refer to iWealth, we mean iWealth Ltd, Company no. 08030332.
When we mention "iWealth", "we", "us" or "our" we are referring to iWealth Ltd and Best Practice IFA Group Ltd.
We provide Independent Financial Planning and Wealth Management services. In provision of our service, iWealth Ltd collects, uses, retains and is responsible for personal data about you. As such, we are required to comply with data protection regulations and iWealth is registered as a data controller long with Best Practice IFA Group Ltd.
iWealth Ltd is a company registered in England and Wales (company number 08030332) whose registered office is at Ground Floor, Princes Exchange, Princes Square, Leeds, LS1 4HY.
iWealth Ltd is also an Appointed Representative of Best Practice IFA Group Limited, which is a network that promotes a high level of standards through the provision of back-up resource, technology, training and support. Best Practice IFA Group Limited is authorised and regulated by the Financial Conduct Authority (FCA). Their FCA registration number is 223112 and a full list of Appointed Representatives is detailed on the FCA register. iWealth Ltd is authorised and regulated by the Financial Conduct Authority, our Financial Conduct Authority number is 746364.
The personal data we collect from you
In the course of providing our service to you, we may collect the following types of personal data:
- Your contact details including phone numbers, addresses and email address.
- Your identity including passport and other official identity document details.
- Your personal financial information covering your assets and liabilities, income and expenditure.
- Your employment status.
- Your lifestyle including hobbies and holidays.
- Your health including confidential medical details, smoker status and details of any medication you take.
- Details of any vulnerability including loss of capacity to make decisions.
- Details of your dependents and/or beneficiaries under a financial policy. If you are providing information about another person we expect you to ensure that they know you are doing so and have given their consent to their information being provided to us as well provide them with a copy of this document.
- Product details including pension plans, investments, insurance contracts & mortgages.
- Details of your attitudes to investment risk and future financial goals.
Information we collect from other sources
We may also obtain personal data from other sources in the course of providing our services. Where we obtain this information from another party it is their responsibility to make sure they explain that they will be sharing personal data with us and, where necessary, ask permission before sharing information with us.
The personal data we obtain from other sources may include the following:
- From product providers – product information.
- From introducers, such as solicitors & accountants – your personal contact information and a background of your circumstances.
- From identification and verification checking agencies – identity information & sanction information.
Website usage information and other information collected automatically
- Technical information, including your IP address, your login information, browser type and version, device identifier, location and time zone setting, browser plug-in types and versions, operating system and platform, page response times and download errors.
- information about your visit, including the websites you visit before our websites and products or services you viewed or searched for.
- number of visits, length of visits to certain pages, pages viewed, page interaction information (such as scrolling, clicks and mouse overs) and methods used to browse away from the page.
- similar information for additional content that can be accessed from website pages, such as opening, or printing documents or which videos are played and for how long.
How we use your personal data
The below table sets out how we use your personal data, the lawful bases upon which we collect and use your personal data and the justification for doing so.
Purpose / Reason for Processing
Lawful basis for Processing
To provide you with independent financial advice and wealth management services.
We need to obtain and process your personal details to be able to provide you with financial advice.
To retain records of any services or advice provided to you.
We need to retain your personal details to comply with financial regulations.
To apply for a contract / product.
Third party suppliers for whom you an existing contract or wish to apply for a new contract will require your personal details.
To refer you to third party professional advisers.
With your consent we may disclose your personal details to other professional such as solicitors and accountants.
To provide you with details of products and services from us and third parties that may be of interest.
With your consent we may contact you with appropriate and relevant product or service / advice information.
Special category data
Certain types of personal data are considered more sensitive and so are subject to additional levels of protection under data protection legislation. These are known as ‘special categories of data’ and include data concerning your health, racial or ethnic origin, genetic data and sexual orientation. Data relating to criminal convictions or offences is also subject to additional levels of protection.
We may process:
- health information and lifestyle information when providing intermediary services in relation to a protection insurance product.
- criminal conviction or offence information when providing intermediary services in relation to a general insurance product.
The lawful basis for processing this information is set out in the above table, we will be processing it either for the purpose of advising on, arranging or administering a contract or to comply with financial regulations.
We may use personal data we hold about you to help us identify, tailor and provide you with details of products and services from us that may be of interest to you. We will only do this where we have obtained your consent and then have a legitimate business reason to do this and will do so in accordance with any marketing preferences you have provided.
In addition, where you provided your consent, we may provide you with details of products and services of third parties where they may be of interest to you.
You can opt out of receiving marketing at any time. If you wish to amend your marketing preferences, please contact us by:
Phone: 0113 880 0440
Email: [email protected]
Post: Ground Floor, Princes Exchange, Princes Square, Leeds, LS1 4HY.
In addition, you can opt out of receiving marketing at any time by clicking the 'unsubscribe' link at the bottom of every marketing email we send or by amending your preferences on our Service Agreement.
Disclosure of your information to third parties
We routinely disclose your personal data to third parties as follows:
- we may pass your information to our third-party service providers, agents, subcontractors and other associated organisations for the purposes of completing tasks and providing services to you on our behalf (e.g. to host our servers).
- we may also disclose your personal data to any member of our corporate group, which means our subsidiaries, our ultimate holding company and its subsidiaries, as defined in section 1159 of the UK Companies Act 2006 (where applicable).
- in the event that we sell or buy any business or assets, in which case we may disclose your personal data to the prospective seller or buyer of such business or assets.
- if we or substantially all of our assets are acquired by a third party, in which case personal data held by us about our customers will be one of the transferred assets.
- if we are under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply our client agreement/service charter.
- to protect our rights, property, or safety or that of our affiliated entities and our users and any third party we interact with the to provide our website.
- in relation to selected third parties only, only to the extent that you have consented to such selected third parties notifying you about certain goods or services, which may be if interest to you.
Do you have to provide information and, and if so why?
We will tell you if providing some personal data is optional, including if we ask for your consent to process it. In all other cases you must provide your personal data for us to provide you with intermediary services.
We take appropriate measures to ensure that any personal data are kept secure, including security measures to prevent personal data from being accidentally lost, or used or accessed in an unauthorised way. We limit access to your personal data to those who have a genuine business need to know it. Those processing your information will do so only in an authorised manner and are subject to a duty of confidentiality.
We also have procedures in place to deal with any suspected data security breach. We will notify you and any applicable regulator of a suspected data security breach where We are legally required to do so.
Unfortunately, the transmission of information via the internet is not completely secure. Although We will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to the Website; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorised access.
Keeping your personal data up to date
If your personal details change you may update them by accessing this data through the wealth platform portal, or by contacting us using the contact details below. If you have any questions about how we use data collected which relates to you, please contact us by sending a request in writing or email to the contact details below.
We will endeavour to update your personal data within 7 working days of any new or updated personal data being provided to us, to ensure that the personal data we hold about you is as accurate and up to date as possible.
How long your personal data will be kept
We will hold your personal data for differing periods of time depending upon the reason we have for processing it. These retention periods are set out below.
Type of Record
Client data where advice has been provided or a regulated product has been provided.
We will retain your personal data until your date of death.
Client data where you made an enquiry, but no advice or regulated products were provided.
We retain your personal data for 12 months from the date of our last contact with you.
Where is your data stored?
All of the information that We hold about you is stored on our secure servers within the EEA.
If you would like further information please contact US or the Compliance Director at Best Practice IFA Group Limited, of which we are an Appointed Representative (see ‘Contact’ below). We will not otherwise transfer your personal data outside of the United Kingdom OR EEA or to any organisation (or subordinate bodies) governed by public international law or which is set up under any agreement between two or more countries.
Under the General Data Protection Regulations you have a number of important legal rights in relation to your personal data:
- to access your personal data
- to require us to correct any mistakes in the information which we hold
- to require the erasure of personal data concerning you in certain situations
- to receive the personal data concerning you which you have provided to us, in a structured, commonly used and machine-readable format and have the right to transmit those data to a third party in certain situations
- to object at any time to processing of personal data concerning you for direct marketing
- to object to decisions being taken by automated means which produce legal effects concerning you or similarly significantly affect you
- to object in certain other situations to our continued processing of your personal data
- to restrict the processing of your personal data in certain circumstances
- to compensation for damages caused by our breach of any data protection laws
If you would like to exercise any of these rights, please:
- email, call or write to us or the Compliance Director at Best Practice IFA Group Limited
- let us have enough information to identify you (e.g. account number, user name, registration details)
- let us have proof of your identity and address (e.g. a copy of your driving licence or passport and a recent utility or credit card bill)
- let us know the information to which your request relates, including any account or reference numbers
How to complain
We hope that we or our Compliance Director can resolve any query or concern you raise about our use of your information.
If you are not happy with the way we are handling your information, you have a right to lodge a complaint with the Information Commissioners Office. It has enforcement powers and can investigate compliance with data protection regulation (www.ico.org.uk). We ask that you please attempt to resolve any issues with us before you contact the ICO.