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Financial Advisor Independent Contractor Agreement Template for England and Wales

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Key Requirements PROMPT example:

Financial Advisor Independent Contractor Agreement

"I need a Financial Advisor Independent Contractor Agreement for engaging a wealth management specialist who will provide services to our high-net-worth clients in London, with specific provisions for cryptocurrency advisory services and international client management."

Document background
The Financial Advisor Independent Contractor Agreement is essential for establishing clear professional relationships in the UK financial services sector. This document, governed by English and Welsh law, is used when engaging independent financial advisors who provide specialized financial services while maintaining their independent contractor status. It ensures compliance with FCA regulations, defines service scope, establishes compensation structures, and addresses key aspects such as client confidentiality, regulatory requirements, and professional obligations. The agreement is particularly important for maintaining clear boundaries between employment and contractor status while ensuring regulatory compliance.
Suggested Sections

1. Parties: Identification of contracting parties and their details

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Services: Detailed description of financial advisory services to be provided

5. Compensation: Payment terms, fees, and commission structures

6. Term and Termination: Duration of agreement and termination provisions

7. Regulatory Compliance: FCA compliance obligations and requirements

8. Confidentiality: Protection of sensitive information

9. Independent Contractor Status: Clarification of relationship and tax status

Optional Sections

1. Non-Compete: Restrictions on competitive activities and protection of client relationships

2. Intellectual Property: Ownership of materials, methods, and proprietary systems

3. Insurance: Professional indemnity insurance requirements and coverage specifications

Suggested Schedules

1. Schedule of Services: Detailed breakdown of specific services to be provided

2. Fee Schedule: Detailed fee structure and payment terms

3. Compliance Procedures: Specific regulatory compliance requirements and procedures

4. Required Qualifications: List of mandatory professional qualifications and certifications

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Financial Services and Markets Act 2000 (FSMA): Primary legislation governing financial services regulation in the UK, establishing the regulatory framework and FCA's powers

Financial Services Act 2012: Reformed the UK financial regulatory framework, including amendments to FSMA and establishing new regulatory bodies

Regulated Activities Order 2001: Defines which activities require FCA authorization and regulation in the financial services sector

FCA Handbook: Comprehensive guide containing rules and guidance for regulated firms, including PRIN, SYSC, and COBS sourcebooks

Employment Rights Act 1996: Defines core employment rights and helps determine employment status distinctions

IR35 Legislation: Off-payroll working rules determining tax status of contractors and preventing disguised employment

Agency Workers Regulations 2010: Regulates the rights of agency workers and may impact contractor relationships

UK General Data Protection Regulation: Post-Brexit data protection regulation governing how personal data must be handled and processed

Data Protection Act 2018: UK's implementation of data protection standards, working alongside UK GDPR

Proceeds of Crime Act 2002: Key anti-money laundering legislation criminalizing money laundering activities

Money Laundering Regulations 2017: Detailed requirements for anti-money laundering procedures and due diligence

Terrorism Act 2000: Contains provisions related to terrorist financing that financial advisors must consider

Unfair Contract Terms Act 1977: Regulates unfair terms in contracts and limits ability to exclude certain liabilities

Consumer Rights Act 2015: Protects consumer rights and may apply if the financial advisor deals with retail clients

Insurance Act 2015: Governs insurance contracts including professional indemnity insurance requirements

Competition Act 1998: Prohibits anti-competitive behavior and agreements that could affect trade

Enterprise Act 2002: Contains provisions about fair trading and competition law relevant to financial services

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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