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• About our services
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1. The Financial Services Authority (FSA)

The FSA is the independent watchdog that regulates financial services. This document is designed by the FSA to be given to consumers considering taking advice on certain financial products. Use this information to decide if our services are right for you.

2. Whose products do we offer?

Investment
 We offer products from the whole market.
 We can only offer products from a limited number of companies.
     Ask us for a list of the companies and products we offer.
 We only offer products from a single group of companies.

Insurance
 We offer products from a range of insurers.
 We only offer products from a limited number of insurers.
 We can only offer products from Zurich Insurance Company for buildings and contents insurance; Pinnacle Insurance plc for accident, sickness and unemployment insurance; and Zurich Assurance Ltd for pure protection insurance.

Mortgages
 We offer mortgages from the whole market.
 We only offer mortgages from a limited number of lenders.
 We only offer mortgages from a single lender.

3. Which service will we provide you with?

Investment
 We will advise and make a recommendation for you after we have assessed your needs.
 You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.
 We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances but we will not:

Insurance
 We will advise and make a recommendation for you after we have assessed your needs for buildings and contents insurance, pure protection insurance and accident, sickness and unemployment insurance.
 You will not receive advice or a recommendation from us for buildings and contents insurance, pure protection insurance and accident, sickness and unemployment insurance. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

Mortgages
 We will advise and make a recommendation for you after we have assessed your needs.
 You will not receive advice or recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

4. What will you have to pay us for our services?

Investment
 Before we provide you with advice, we will give you our keyfacts guide 'about the cost of our services'.
 We will tell you how we get paid, and the amount, before we carry out any business for you.

Insurance
 A fee
 No fee

You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.

Mortgages
 No fee. We will be paid by commission from the lender.
 A fee of a maximum of £500 or 1% of the loan amount, if greater, or 2% of the loan for an adverse risk mortgage, payable when a formal offer of advance is issued by the lender. For example on a £100,000 mortgage, this would equate to a fee of £1000 or £2000 for an adverse risk case. An exact fee will be confirmed in writing by your adviser. We will also receive commission from the lender.

You will receive a key facts illustration when considering a particular mortgage, which will tell you about any fees relating to it.

Refund of fees
If we charge you a fee, and your mortgage does not go ahead, you will receive:
 A full refund
 No refund will be given because no broker fee will be charged until a formal offer of advance is issued by the lender.

5. Who regulates us?

Henderson Stone & Co is an appointed representative of Openwork Limited, TriCentre 3, New Bridge Square, Swindon, SN1 1HN, which is authorised and regulated by the FSA. Openwork Limited's FSA Register number is 408285.

Openwork Limited's permitted business is advising on and arranging mortgages, general and pure protection insurance and life insurance, pensions and unit trust business. You can check this on the FSA's Register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

6. Loans and ownership

Openwork Limited's ultimate parent company is Zurich Financial Services, which is incorporated in Switzerland. Zurich Financial Services also owns Zurich Assurance Ltd, Zurich Insurance Company and Sterling ISA Managers Limited.

7. What to do if you have a complaint

If you wish to register a complaint, please contact us:

In writing...
Write to: Complaints Management Team, Openwork Limited,
TriCentre 3, New Bridge Square, Swindon, SN1 1HN

By phone...
Telephone 0870 608 2550

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

8. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Investment
Most types of investment business are covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000.

Insurance
Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.

Mortgages
Mortgage advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000.

Further information about compensation scheme arrangements is available from the FSCS.

9. Terms of Business

• Acting in your interests

If any material interest or conflict of interest should arise in business that we are arranging for you, we will let you know and ask for your consent before we carry out your instructions.

• Investment advice and recommendations

Any investment advice your adviser provides will be based on your personal objectives. We'll confirm these objectives, and the reasons for each recommendation your adviser makes, to you in writing once you've completed your application. This is called a 'Suitability Report'.

If you have asked for any restrictions on the types of investment or the markets you wish to invest in, these will be confirmed in the Suitability Report.

• Communications

We may communicate with you from time to time, by various means, unless you ask us not to.

• Your rights and client classification

The FSA has some rules, which affect the rights you have as a client.

We classify all our individual customers as retail clients. As a retail client, you have rights under the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS). These are set out in the previous sections - What to do if you have a complaint and Are we covered by the Financial Services Compensation Scheme.

There are other classifications of customer that don't have these rights. These are professional clients and eligible counterparties (for example, authorised and regulated financial services firms, larger corporate bodies, national governments and other state bodies, and banks).

If you'd like to know whether you would be classified as an intermediate customer or a market counterparty, please write to our Compliance Officer, Openwork Limited, TriCentre 3, New Bridge Square, Swindon, SN1 1HN, or the Financial Ombudsman Service and FSCS.

These Terms of Business will apply from 01/11/2007 and will remain valid until further notice. We reserve the right to change them or anything in them at any time. Either we or you can end them at any time, without penalty and this will not affect any outstanding transactions being carried out on your behalf.