At Taylor Money, we are committed to protecting the privacy and security of your personal information. This Privacy Policy outlines how we collect, use, share, and protect your data in compliance with the UK General Data Protection Regulation (UK GDPR). By engaging with Taylor Money, you consent to the practices described in this policy.

Understanding UK GDPR

The UK GDPR, implemented on May 25, 2018, replaced the Data Protection Act 1998 and remains in effect as domestic law post-Brexit. Taylor Money adheres to the principles, rights, and obligations outlined in the UK GDPR and the Data Protection Act 2018 to ensure the utmost protection of your personal data.

How Does This Affect You?

Under the UK GDPR, you have enhanced control over your personal data. As a client, this means:

• Greater control over your personal data
• Ability to manage permissions for contact
• Strengthened penalties for data security breaches

At Taylor Money, we respect your privacy and rights to control your personal data. Our practices are designed to ensure the safety and confidentiality of your information. We do not sell your data to third parties.

Information We May Collect

We collect personal information to provide you with tailored financial advice. This includes:

1. Name, address, date of birth, and National Insurance number
2. Contact details
3. Bank details
4. Financial information, both present, and historical
5. Children’s details
6. Relevant documents (e.g. passport, driving license, statements)

This information is essential to assess your needs and provide suitable recommendations. This information is collected and contained within a ‘client fact finding document’, and notes that we make. This information is essential to assess your situation, needs and objectives allowing us to make a suitable recommendation. Processing your personal data for this purpose is necessary for the agreement we have with you. We collect and store this data securely in compliance with regulatory requirements.

How We Use Your Information

Taylor Money uses your data for the following purposes:

Providing relevant financial products and services

We use data to provide, operate, support and improve the products and services we offer. This processing is necessary for the performance of the agreement we have with you.

Client support and care

We use data to respond to client enquiries, diagnose problems and provide other client care and support services. This processing is necessary for the performance of the agreement we have with you, as well as to serve our legitimate interest.

Ensuring security, safety and resolving disputes

We use data to protect the security and safety of our clients, to detect and prevent fraud, to resolve disputes and enforce our agreements. This processing is necessary to serve our legitimate interest.

Business operations and intelligence

We use data to develop aggregate analysis and business intelligence that enables us to operate, protect, make informed decisions, and report on the performance of our business. This processing is necessary to serve our legitimate interest.

Communication, marketing and advertising

We use the data we collect to deliver and personalise our communications with you. For example, we may contact you by email or other means of electronic communication to inform you about new products or services, security or software updates, update you on a support issue or invite you to take part in a survey. This processing is necessary to serve our legitimate interest.

Law and Personal Information

The law permits the use of personal data for restricted legal purposes as follows:

1. Contractual (likely to be how we interact with you)
2. Legal Duty
3. Legitimate interests

If you do not wish us to collect and use your personal information in this way, and you inform us of your wishes, we will not use your personal data however this may mean that we will be restricted in providing you, or not able to provide you, with our products and services.

Information obtained from other sources

In addition, we may, with your permission, contact third parties to provide us with relevant information regarding existing products that are relevant to your financial situation.

Sharing Your Information

We may share your data with:

1. Providers to implement recommendations and deliver services
2. Regulatory bodies such as the Financial Conduct Authority (FCA) and Information Commissioner's Office (ICO)
3. Law enforcement agencies and HM Revenue & Customs
4. UK Financial Services Compensation Scheme

We do not sell your personal information. Our services may include links to third-party products or services, whose privacy practices may differ. Please review their privacy statements carefully.

Data Processing and Protection

All your information is processed within the UK. We ensure data transfers outside the European Economic Area (EEA) comply with legal requirements and your instructions. Our robust security measures, alongside industry standards, safeguard your information from unauthorized access or disclosure.

Updating your Personal Information

Once you receive documents based on our recommendation, you will receive regular updates from Taylor Money and the provider(s) to keep you up to date. It may be that we need to update your information from time to time to ensure accuracy of the data we hold about you.

Retaining your data

We will keep your personal information for as long as you are a client of Taylor Money. After our relationship with you has ceased, we may keep your data for up to seven years to meet our legal or regulatory obligations or if we have a technical issue.

Protection of Personal Data

We have stringent controls in place to help protect personal data and to minimise loss or damage through accident, negligence of deliberate actions. Our employees receive annual training to help protect sensitive or confidential information. Our security controls are in line with industry standards, alongside our own internal policies and procedures effectively to manage risks to the confidentiality, integrity and availability of your information.

Your Rights

Under the UK GDPR, you have the following rights:

Right to be informed

You have the right to be informed about the collection and use of your data, why and who we share it with. This should be clear after reading through our privacy statement.

Right of access

You have a right of access to all your personal information, if you would like to receive a copy of the personal information we hold for you, you may request your data by written request to our Privacy Officer (details below).

Right to rectification

You have the right to have your personal data rectified if it is inaccurate or incomplete. You can ask for your information to be deleted or removed if there is not a compelling reason for Taylor Money to continue to have it. However, some data must be kept under regulation for a certain period, if this is the case we will inform you what information must be kept and for what period.

Right to restrict processing

You have the right to request to block or delay the processing of personal information for certain reasons. If your request meets the necessary conditions for restriction, it means that we are still permitted to keep your personal data, but in this instance, we will not use your data in the future for those reasons in which you have restricted.

Right to data portability

You have the right to ask for a copy of your personal information for your own purposes to use across different services. In certain circumstances, you may request that we transfer the personal information we hold, to another company in a safe and secure way, e.g. if you were moving your account to a different investment manager.

Right to object

You have the right to object to Taylor Money processing your personal information where the processing is for:

1. Scientific or historical research
2. Direct marketing – in this case you have an absolute right to object
3. Your legitimate interests (or those of a third party)
4. A task carried out in the public interest

Rights related to automated decision making

Should we require an automated decision relating to a recommendation we will seek your permission. We do not use automated decisions or use profiling for risk – related investment recommendations. We sometimes use your data to obtain a decision in relation to offering you life/critical illness or income protection products; this process will be explained to you and your permission sought before we complete an application.

We respect these rights and will assist you in exercising them.

Communication Preferences

You can opt out of receiving direct marketing communications from Taylor Money by letting us know directly and confirming how you would like us to communicate with you. Please note, regardless of your communication settings, we will continue to communicate with you regarding changes to terms and conditions, policy updates, regular newsletters or important messages such as information about current or past purchases, service interruptions, data breaches or other significant information about a product you hold, such as discontinuation of support or safety issues.

Changes to Our Privacy Policy

We regularly review our privacy policy to ensure compliance and transparency. Any updates will be posted on our website.The last review was in April 2024.

Complaints

If you have concerns about how we handle your information, please contact us. We will address your concerns promptly. If you remain dissatisfied, you have the right to escalate the matter to the ICO.Their contact details can be found on their website www.ico.org.uk (https://taylormoney.com/privacy-policy/www.ico.org.uk)

Privacy Officer

For inquiries regarding your privacy rights or concerns, please contact our Privacy Officer:

Paul Bannister

Taylor Money Ltd

Marina House, North Parade, Falmouth, Cornwall TR11 2TF

Tel: 01326 210131

Email: paul@taylormoney.com