Introduction

1. These Terms apply to all users of the Services.

2. Please read these Terms carefully before using the Services. By using the Services or by clicking the “I agree” button or otherwise indicating agreement electronically, you agree to comply with and be bound by these Terms, which constitute a binding contract between you and Octopus Money (“Contract”).

3. Your attention is drawn to clause 30 headed “Disclaimer of Liability”.

Our Services

4. Octopus Money provides financial planning services, financial advice and investment (advisory) services:
   
   4.1. Financial Planning Service – this service allows users to build a financial plan (or have one built for them) (a “Financial Plan”) using Octopus Money’s proprietary financial planning software, and discover how their wealth may change over time, whether they are on track to achieve their goals, and what actions they could take to improve their finances and improve their future finances as much as possible. Different versions of the Financial Plan may be created to identify what might happen in different scenarios;
   
   4.2 Advisory Services – this collection of services gives users access to services, tools, guides and advisers who can provide regulated financial advice, including product recommendations where relevant; and
   
   4.3 Coaching Service – this service allows users to receive financial guidance from an Octopus Money Accredited Coach (“Coach”).

(together, the “Services”).

The terms and conditions set out below (“Terms”) are the terms and conditions on which Octopus Money provides these Services.

5. There are different ways that we administer the Services, as set out in Schedule 1. You can choose what works best for you through the Octopus Money website (“the Website”).
6. Together, the Services provide users with information, advice, guidance, tools and access to regulated financial services, with the aim of helping users to plan their finances. Every element of the Financial Planning Service and Coaching Service, accessed or provided simultaneously, plays a key role in informing users’ decisions on how much to save, invest and contribute to their pensions and savings for retirement.

Payment and Fees

7. Some services are provided for free, some services may be paid for by your employer, some services must be paid by you, the client. Whenever you use one of the Services, we will be clear about who is paying, and by what method. Depending on the Services you request, there are different ways we can be paid:
   
   7.1 Subscriptions – We will set up a recurring payment for services which will continue unless cancelled by you.
   7.2 One off payments – We will charge you a fixed amount for a one-off service.
   7.3 Advice fees – Where we provide regulated financial advice we will charge you an additional fee.
   7.4 Commission – In some cases we will provide regulated financial advice to you for free, and instead we will receive a commission from the product provider. We will be clear with you about how much we earn in commission, when applicable. 
   7.5 Commission via third party – Where you are referred to a third party provider who provides the regulated financial advice (as outlined below) that third party may receive commission from the product provider. If that is the case, then Octopus Money may receive a share of the commission that is earned by the third party. It will be made clear to you by the third party provider whether any commission will be paid as a result of your purchasing a particular product.
8. There are a number of methods by which you might be charged for our services. Not all methods are applicable to all services that we provide.
   8.1 The default payment method is that we will set up a direct debit.
   8.2 Where your employer offers Octopus Money as an employee benefit, some of our services can be paid for via salary sacrifice. This means that our fee is deducted from your pre-tax salary, reducing the overall cost of our services to you. To qualify for salary sacrifice you must be eligible, and you must be paying for a service that qualifies.
   8.3 If you are paying via salary sacrifice then you agree to comply with and be bound by the Salary Sacrifice Amendment at Schedule 2.
   8.4 Where your employer offers Octopus Money as an employee benefit, if you’re not able to pay via salary sacrifice then we may deduct our fee from your post tax salary. You won’t make any tax saving, but your employer may allow you to spread the cost of the service over several months.
   8.5 If your employer has agreed to fund the cost of the service, we will charge them. You will still need to pay for any extra services that are not covered by your employer if you choose to use those extra services.
   8.6 Your employer might offer to part fund the cost of some of our services. If this is the case, it will be detailed on your employer’s dedicated Octopus Money booking page, and explained to you in your first call with Octopus Money.
   8.7 If your investments and/or pensions are managed by Octopus Money, we will charge some or all of our fees by deducting the amount from the amount invested with us.
9. Payment via salary sacrifice or by employer funding (either in full or in part) is only possible on the basis that you will receive guidance and/or regulated advice on your pensions and savings for retirement. In the event that you are not willing or able to discuss your pensions and savings for retirement with Octopus Money, you will be required to pay for the Services via direct debit only.
   
10. Your rights to cancel your service and/or request a refund depend on the services you’re using. Please refer to the additional terms in Schedule 1 below for more detailed terms.
11. Additional terms may apply, depending on which of the services you’re using, and your personal circumstances. Please refer to the additional terms in Schedule 1 below for more information.

Onboarding

12. You must be over 18 and a UK resident to use the Services.
13. To begin using the Services, you must first book and hold an initial conversation, which will be conducted via phone, online video call, or in person (“Starter Session”).
14. The Starter Session will be held with either a Coach, or a regulated financial adviser (“Adviser”). By default, all individuals will be directed to speak to a Coach. If we believe that your personal or financial circumstances are likely more complex than a Coach is permitted to help with, then you’ll be directed to speak to an Adviser instead.
15. You may book a Starter Session either by using a booking form on the Website, or you can email support@octopusmoney.com to speak to our team who can assist you. You will receive a confirmation of your booking and the details of who will be holding your session via email shortly afterwards.
16. Octopus Money may change which Coach or Adviser is holding your Starter Session, in the event that:
    16.1 your original Coach or Adviser is no longer available, or
    16.2 you request an alternative individual to speak to, or
    16.3 you share information with us about your personal or financial circumstances which means you’d be better served by an Adviser (if you had previously been booked to speak to a Coach), or vice versa.
17. You will not be charged any fee for holding a Starter Session, though you are only entitled to hold one free Starter Session in any 12 month period.

Coaching

18. Where our Services are provided to you by a Coach, the Coach will provide financial guidance to you. Financial guidance is the process of understanding your goals and financial circumstances and offering suggestions on what you could do to achieve those goals. Where relevant, the Coach will explain the different options available and outline the pros and cons of each. He/she will explain your Financial Plan to you, answer questions, help plan your finances, give you general financial guidance and, where appropriate, refer you to regulated financial services. Every element of the Financial Planning Service and Financial Coach Service, accessed or provided simultaneously, plays a key role in informing users’ decisions on how much to save, invest and contribute to their pensions or savings for retirement.
19. The Coaches that deliver the Coaching Service are either employed or contracted by Octopus Money.

Financial Planning

20. This service allows users to build a Financial Plan (or have one built for them) using Octopus Money’s proprietary financial planning software and discover how their wealth is set to change over time, whether they are on track to achieve their goals, and what actions they could take to improve their finances and improve their future finances as much as possible. Different versions of the Financial Plan may be created to identify what would happen in different scenarios.
21. Every element of the Financial Planning Service, accessed or provided simultaneously, plays a key role in informing users’ decisions on how much to save, invest and contribute to their pensions or savings for retirement.
22. Access to the Financial Plan varies depending on which paid services the user has signed up to, and whether they are currently a paying client. Please refer to Schedule 1 below for more details on the paid services and what types of Financial Plan functionality is available.

Advisory Services

23. Description
    This collection of services gives eligible users access to various services, tools, and advisers who can provide regulated financial advice, including product recommendations where relevant, or other legal or financial services. Additional terms and conditions apply to all of these collected Advisory Services, which are clearly provided prior to your use of them. The services included within Advisory Services allow you to:
    23.1 set up, review, transfer and/or have Octopus Money manage your investments and/or pension(s);
    23.2 receive whole of market mortgage advice;
    23.3 receive insurance and protection advice;
    23.4 get a legally binding Will
24. Some services are provided by Octopus Money directly, and in some cases you will be referred to a third party adviser or service. For further information on referrals to third parties and services, please see the Section entitled “Referrals to Third Parties” below.
25. Access to the Advisory Services varies depending on which paid services the user has signed up to, and whether they are currently a paying client. Please refer to Schedule 1 below for more details on the paid services and which of the Advisory Services are included in each one.

26. Investments
    26.1 Octopus Money provides an investment service as part of the Advisory Services (“Investment Service”). This includes:a) The provision of regulated financial advice on your investments and/or pensions, provided either by a financial adviser, or via an automated investment tool.b) Analysis and review of your existing investments and/or pensionsc) Transfer of your investments and/or pensionsd) Ongoing management of your investments and/or pensions
    26.2 There are three ways for clients to invest with Octopus Money:
    26.2.1 Execution Only: When you use our “execution-only” investment service, the amounts and types of investment are chosen by you, and you do not receive regulated advice or a personal recommendation from Octopus Money. A limited range of investments and account types are offered via this service.
    26.2.2 Simplified Advice: When you use our simplified investment advice service, you will receive regulated advice, including a personal recommendation on the amounts and types of investments that are suitable for you. This service is provided by automated software.
    26.2.3 Full Advice: When you use our full investment advice service, you will receive regulated advice, including a personal recommendation on the amounts and types of investments that are suitable for you. This service is provided by our team of regulated financial advisers, and is more suitable for those with a significant amount of assets.
    26.3 If you wish to use our Investment Services, we will let you know which of the three ways
    26.4 If you have more complex investment needs such that our Advisory Services are not suitable, then Octopus Money will help you find a third-party financial adviser instead. For further information on referrals to third parties and services, please see the section entitled “Referrals to Third Parties” below.
    26.5 We offer restricted investment and contribution advice, which is limited to recommending a suitable model portfolio from our range, as well as a limited number of account types. As a result, when you invest with us we will not consider all available financial products and services that could be suitable for you.Unless we tell you otherwise, we’ll treat you as a retail client for investment business. This means that you are given the highest level of protection available under the UK’s regulatory system.

26.6 Relevant risk warnings will be advised to you throughout the advice process and suitability report.

The value of investments may go down as well as up, and you may not get back the amount invested. Levels of income from investments may fluctuate and past performance is not necessarily a guide to future performance. We cannot be held liable for any depreciation in the value of investments arranged for you.

26.7 You will pay for our Investment Service via a management fee taken directly from the investments being managed by Octopus Money. We will not charge you until we have agreed with you how we are to be paid.

26.8 For your additional security we do not handle your money. We never accept a cheque made out to us (unless it is a cheque in settlement of our fees or other charges or disbursements for which we have sent you an invoice). We do not handle cash.

26.9 If you choose to use any part of the Investment Service you will be subject to additional terms and conditions. These additional terms and conditions will be clearly displayed when you agree to use the Investment Service. Where there is a contradiction, those terms and conditions will override these Terms, except in the case of determining whether someone has received independent or restricted investment advice, for which these Terms are to be given priority.

Mortgages

27. As part of the Advisory Services, Octopus Money provides a mortgage service (“Mortgage Service”) which includes:
    27.1 Advice on your mortgage, and
    27.2 Assistance with the application and implementation of your chosen mortgage product, if applicable.
28. The Mortgage Service is provided by either:
    28.1 Octopus Money via our in-house whole of market mortgage adviser.
    28.2 Our specialist mortgage partner, who is a third party provider. Our mortgage partner is a whole of market Mortgage Adviser.
    28.3 Our partners will not charge Octopus Money users an up-front fee for their services, but they may receive commission.
    28.4 When you make use of the Mortgage Service additional terms and conditions shall apply.

Insurance & Protection

29. As part of the Advisory Services, Octopus Money provides an insurance & protection service (“Insurance Service”) which includes:
    29.1 Advice on your life insurance, critical illness cover, income protection and other types of insurance & protection products, and
    29.2 Assistance with the application and implementation of your chosen insurance product, if applicable.
30. The Insurance Service is provided by our third party specialist insurance partner. They provide independent insurance and protection advice, and use a wide panel of providers.
31. Our partners will not charge Octopus Money users an up-front fee for their services, but they may receive commission.
32. When you make use of the Insurance Service additional terms and conditions shall apply.

Referrals to Third Parties

33. How the referrals will happen
    33.1 Wills
    Users who require a Will will be referred to our Will writing partner and provided with a discount code which reduces the up-front cost of the service. Additional terms and conditions apply.
    33.2 Third Party Financial Adviser
    When a user’s needs are outside the scope of the Services, we will refer them to a third party financial adviser who can help. To do this we will either:
    a) Use VouchedFor to find a third-party financial adviser. VouchedFor has checks in place to verify that advisers are qualified and regulated. See VouchedFor Terms for more details of how VouchedFor checks advisers.
    b) Refer the user to a specific financial advice firm that Octopus Money has verified is regulated to provide financial advice.

    Despite these checks, none of Octopus Money, your Coach nor VouchedFor takes responsibility for the service or financial advice offered by any third-party financial adviser that we or VouchedFor refer users to.

Any service provided by a third-party financial adviser will be subject to separate terms and conditions, and a fee may be applicable.
34. Sharing personal data with third parties
    When arranging a referral, we will request permission from the user to share some relevant personal information about the user with the third party we are referring them to. Sharing this information will help the user have a better customer experience and ensure an efficient service.
    The personal data we share (with the user’s permission) is listed below:
    a) Wills – no personal data will be shared;
    b) Mortgage Advice – We will share the user’s name, email, date of birth, approximate deposit amount, income and expenditure, and employment status;
    c) Insurance and Protection – We will share the user’s name, date of birth, basic health information e.g., BMI, income and expenditure, and outstanding debts (including mortgage amount);
    d) Referral to a third-party financial adviser – We will share the user’s name, email address, phone number and a high-level summary of the user’s needs for advice.

35. Sharing your Financial Plan with third parties
    We may also request permission from the user to share his/her Financial Plan with our Mortgage partner, Insurance and Protection partner and/or any third-party financial adviser to whom we may refer the user. We will never give a third-party access to your Financial Plan without your explicit permission.

Having access to the user’s Financial Plan would help the adviser (in each case) to understand the user’s full circumstances, and therefore, offer the best advice that it can. The adviser would only be given access to the user’s Financial Plan whilst it is delivering a service to the user and its access to the Financial Plan would be removed as soon as the service has been delivered.

36. Receiving personal data from third parties
    When a user is referred to a third party, he/she may make changes or take out products which impact the accuracy of his/her Financial Plan. From time to time, we will request information about a user from our third-party partners to whom we have referred the user in order to ensure that the financial guidance we provide as part of the Services is as up to date as possible. This include things like:
    a) whether or not the user has completed his/her Will;
    b) whether or not the user has taken out a mortgage or insurance product; and
    c) basic information about products the user has taken out which would help us update the user’s Financial Plan (e.g. monthly cost of the product, term of the mortgage, etc).
37. Disclaimer of Liability
    Neither Octopus Money or VouchedFor are responsible for any guidance, advice or recommendations given to you by a third-party adviser, including any of our partners or third-party financial advisers to whom we may refer you, and you agree that neither Octopus Money or VouchedFor will be liable for any loss or damage arising from any guidance, advice or recommendations given to you by a third party adviser.

Your Account

38. Upon subscribing to use the Services, you will be provided with access to an online account (“Your Account”) from which you may access your Financial Plan and use Octopus Money’s proprietary financial planning software to create alternative or different versions of your Financial Plan.
39. You will be given or asked to create a username and password to allow you to access Your Account. You are responsible for maintaining the confidentiality of the password and are fully responsible for all activities that occur under your username and password. You are also accountable for all activities regarding your username, with or without your knowledge or permission. You agree to immediately notify Octopus Money of any unauthorised use of your username or password or any other breach of security. If you knowingly provide your log-on information to another person, your access to Your Account may be suspended temporarily or terminated. You agree that Octopus Money assumes no liability for activities accessed through your username and password, nor can or will Octopus Money be liable for any loss or damage arising from your failure to comply with this clause 27.
40. Termination of, or restriction of access to, the Services
    40.1 You agree that Octopus Money, in its sole discretion, has the right to delete, suspend or deactivate Your Account, block your email address, or otherwise terminate or restrict your access to or use of the Services immediately and without notice and remove and discard any content within the Website for any reason, including, without limitation, if Octopus Money believes that you have acted inconsistently with the letter or spirit of these Terms.

40.2 You agree that neither Octopus Money nor its officers or employees shall be liable to you or any third-party for any termination or restriction of your access to the Services.

41. Consequences of termination of the Services by Octopus Money or cancellation or non-renewal of a subscription
    41.1 Upon termination of the Services by Octopus Money for any reason, or cancellation or non-renewal by you of your subscription to the Services, your access to the Services will immediately cease, and you will no longer have access to a Coach or to your Financial Plan.

41.2 If, during the term of your subscription, you made investments using the Online Investment Service, you may continue to keep your account and maintain your investments, and you may make further investments or contribute further sums to your existing investments via that account, for as long as you remain a UK resident.

Disclaimer of Liability

42. Any guidance or advice provided by Octopus Money will be based on the information that you provide, so it’s vital that you share accurate and complete information about your circumstances and objectives. If you limit the information provided it could affect the suitability of the guidance given. You agree that neither Octopus Money nor your Coach shall be liable to you to the extent that any information you provide to us is inaccurate, incomplete or misleading.
43. By using the Services, you unconditionally confirm that the details that you provide to Octopus Money are true, fair and accurate in all material respects and complies with all applicable regulatory or statutory requirements. You agree to promptly notify Octopus Money of any material changes in relation to your details.
44. Financial Coaching is not an activity that is regulated by the Financial Conduct Authority, and your Coach, as an individual, is not regulated by the Financial Conduct Authority either. Your Coach will not offer any advice that is regulated or conduct any other regulated activity, such as which funds to invest in, which mortgage or insurance products to purchase or whether or not to transfer a pension.
45. In the event that you do require financial advice, you will be directed to Octopus Money’s Advisory Services (which are regulated by the FCA), or to a third party financial advice service. It is your responsibility to ensure that any actions you take as a result of financial coaching which are not also recommended by a regulated adviser are right for you. You will not be covered by the government’s Financial Services Compensation Scheme or by Octopus Money if something goes wrong.
46. Neither Octopus Money or your Coach are responsible for any guidance, advice or recommendations given to you by a third-party adviser, including any of our partners or third party financial advisers to whom we may refer you, and you agree that Octopus Money will not be liable for any loss or damage arising from any guidance, advice or recommendations given to you by a third party adviser. If you choose to speak to a third party adviser, you may have to agree to additional terms and conditions which are independent of and separate to any terms or agreement with Octopus MoneyCoach and/or the Coach, and you may also have to pay additional charges.

Monitoring and Feedback

47. Description
    This service allows Octopus Money to ensure that your Coach adheres to Octopus Money’s quality standards and their legal obligations. We carry out ongoing monitoring and compliance checking of your Coach’s work, and will regularly request your feedback to help us continue to improve the Services.
48. Your Feedback
    48.1 Octopus Money is committed to ensuring that all Coaches offer a high-quality service and always put the needs of their clients first. If you have any feedback, questions or complaints then you may contact Octopus Money using the details set out in clause 38 below and including the details of your feedback. You will receive an initial response within two (2) Business Days.

48.2 From time to time, we will request your feedback on Octopus Money and your Coach. Your ratings, reviews and comments will help us to continue to improve and develop our Services. You may leave a public review for your Coach at any time by going to their profile on VouchedFor.

49. Coach Monitoring
    49.1 As an Octopus Money Accredited Financial Coach, your Coach is obliged:
    32.1.1 To ensure that they only provide financial information and guidance, and not regulated financial advice; and
    32.1.2 To ensure that they deliver the Coaching Services in a way that meets Octopus Money’s quality and compliance standards.

49.2 To ensure that your Coach is complying with their obligations, we will carry out ongoing monitoring and compliance case checks which may involve a member of the Octopus Money compliance team reviewing:
32.2.1 Recordings of conversations you have had with your Coach;
32.2.2 Emails and other written communication between you and your Coach; and
32.2.3 Any financial plan built by, or approved by, your Coach.
49.3 To carry out these compliance checks, we may require that your Coach shares your personal information with us. Any personal information you share with your Coach shall be stored securely and with sufficient safeguards to ensure it remains private, in line with the Octopus Money Privacy Policy and clause 49 of this agreement.

49.4 In the event that your Coach loses their accredited status due to the Coach’s serious or repeated breach of Octopus Money’s compliance and quality standards, Octopus Money will notify you as soon as practically possible and provide you with an alternative Octopus Money Accredited Financial Coach.
Complaints

50. If you are unhappy with our advice or any aspect of our Services, we encourage you to contact us as soon as possible.
    Telephone: 020 3195 4455
    Email: complaints@octopusmoney.com
    In writing: Octopus Money, 33 Holborn, London, EC1N 2HT
    You will receive an initial response within two (2) Business Days, and we will do our best to resolve your concerns.
51. We have a complaints procedure and we can provide further details on request. If you do have a complaint, and you are not happy with our response, the Financial Ombudsman Service (FOS) may be able to help. The FOS settles disputes between financial services business and their clients. Full details are available at www.financial-ombudsman.org.uk.
52. If your complaint relates to products or services you have bought from us online, or by other electronic means such as by email, you may refer your complaint to the online dispute resolution (ODR) platform at http://ec.europa.eu/odr.
53. The Financial Services Compensation Scheme (FSCS) is the UK’s statutory compensation fund for customers of authorised financial services firms who are unable to pay claims against them, usually because they have gone out of business.
54. You may be able to claim compensation from the FSCS if we can’t meet our obligations. The amount of compensation available will depend on the type of business and the circumstances of the claim. Further information is available from the FSCS at www.fscs.org.uk.

Intellectual Property

55. Octopus Money owns all the intellectual property rights relating to the Services and the Website (including the designs, text, database, graphics and layouts and all proprietary software accessible via the Website), and you agree to not use or copy any part of them without our express permission in writing.
56. You agree not to download, reproduce, copy, resell or exploit for any commercial purposes, any aspect of the Services, or to use automated means to download data provided to you as part of the Services (including without limitation, spiders, robots, crawlers or data mining tools, but excepting standard internet search engines).
57. You are not permitted to decompile or disassemble, reverse engineer or otherwise attempt to discover any source code contained in the Website.
58. You may only use the Services for your own personal, private and non-commercial purposes. You must not commercially exploit or sell any content appearing on our Website or provided to you as part of the Services.
59. If you have a subscription to the Services, we hereby grant you, and subject to these Terms, a non-exclusive, non-transferable right, to use Octopus Money’s proprietary financial planning software for your own personal, private and non-commercial purposes only. Whilst we will do our best to ensure that this software is accessible by you at all times, we cannot guarantee this, and we also cannot guarantee that your use of the software will be uninterrupted or error-free. You agree that we are not responsible for and shall not be liable to you for any problems or temporary interruptions you experience in using Octopus Money’s proprietary financial planning software.

Changes to these Terms

60. Octopus Money reserves the right to change or update these Terms from time to time to ensure that we remain compliant with relevant laws and regulations and to ensure that we are constantly improving your experience in using the Services. If you are a subscriber to the Services, and we make any significant changes to these Terms, we will notify you, and you shall have the right to end your subscription to the Services if you are not happy with the changes that we have made. Please see Schedule 1 for details of what happens if you cancel your access to the Services.

Data Protection

61. To provide our services properly we’ll need to collect information about your personal and financial circumstances. We take your privacy seriously and will only use your personal information relating to you to deliver the Services. Full details of what information we collect and how we use it can be found in our Privacy Policy, found at https://octopusmoney.com/privacy-policy. By using the Services and/or agreeing to these Terms, you accept our practices regarding personal data and how we will treat it.
62. Sometimes, we may need to pass personal information relating to you to other organisations (e.g. if you apply to take out a financial product or service we’ll need to pass certain personal details to the product or service provider). Personal information relating to you may be transferred electronically (e.g. by email or over the internet) and we, or any relevant third party, may contact you in future by what we believe to be the most appropriate means of communication at the time (e.g. telephone/ email /letter etc.).
63. The organisations to whom we may pass personal information relating to you also have their own obligations to deal with your personal information appropriately and may have their own privacy policy setting out how they use personal data relating to you which we recommend you read carefully. In addition, a product or service may sometimes be administered from a country outside Europe. If this is the case, the organisation must put a contract in place to ensure that your information is adequately protected.
64. We will never share your data or information with any third party except when it is directly required to provide the Services you have requested, as outlined in these Terms, or where you have given us explicit permission in advance.
65. Personal data relating to you will be stored by Octopus Money using appropriate safeguards to maintain its privacy and security, as further outlined in our Privacy Policy (https://octopusmoney.com/privacy-policy).
66. Under the terms of the General Data Protection Regulation (GDPR) you have the following rights:
    66.1 You can ask us for a copy of the personal information we hold about you. We will provide this free of charge, unless your request is repetitive or excessive, in which case we reserve the right to charge you a reasonable fee.

66.2 You can inform us of any changes to your personal information, or of any corrections you would like us to make to any of the personal information we hold about you.

66.3 In certain situations, you can ask us to erase the personal information we hold about you, or object to particular ways in which we are using your personal information. Please note that we may need to retain certain information for recordkeeping purposes, to complete any transactions that you began prior to your request, or for other purposes as required or permitted by applicable law.

66.4 Where we are using your personal information on the basis of your consent, you are entitled to withdraw that consent at any time.

66.5 Where we process your personal information based on legitimate interest or the public interest, you have the right to object at any time to that use of your personal information.

66.6 You may exercise any of the rights set out in this clause by writing to us (by email or by post using the details in clause 38 above). For security reasons we may ask for proof of your identity before we disclose information about you, or to you, via email or over the telephone.
General

67. These Terms shall be governed by and interpreted in accordance with English law. Disputes arising in connection with these Terms shall be subject to the exclusive jurisdiction of the English courts.
68. No failure or delay to exercise, or other relaxation or indulgence granted in relation to, any power, right or remedy under these Terms shall operate as a waiver of it or impair or prejudice it nor shall any single or partial exercise or waiver of any power, right or remedy preclude its further exercise or the exercise of any other power, right or remedy.
69. A person who is not a party to this Contract shall not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these Terms. This does not affect any right or remedy of a third party which exists, or is available, apart from that Act. The rights of the parties to terminate, rescind or agree any variation, waiver or settlement under these Terms are not subject to the consent of any other person.
70. Nothing in this Contract shall be deemed to constitute a partnership between the parties or any other person.
71. Each party shall at all times comply with all applicable laws and regulations of governmental or other competent authorities from time to time in performing its obligations under this Contract.
72. If any provision of these Terms is held to be illegal or unenforceable such provision shall be severed and the remainder of these Terms shall remain in full force and effect, unless the business purpose of the contract between us is substantially frustrated as a result.

SCHEDULE 1

This schedule outlines the various services that are offered by Octopus Money to clients, and details the additional terms that will apply to any users of the respective service.

Plan My Goals
About this service

1. Plan My Goals is a service for individuals or couples who would like to plan and improve their financial future. By going through this service, clients will receive a holistic financial plan, guidance on how to improve their finances, and access to content, tools, and regulated financial advice services.

What’s included in this service?

2. When you enrol in this service you will receive:
   a. Everything that is included in the Basic Membership, described below.
   b. A Financial Plan, as described in the main terms and conditions above
   c. Access to a Coach, or financial adviser, as determined by the eligibility criteria described in clause6 below.
   d. Access to our suite of content, tools, services and partners that provide either the financial guidance or financial advice required to implement your Financial Plan.
3. If you are assigned a Coach, you are entitled to speak to your Coach for up to 2 hours, across up to 3 calls. Where you are assigned an Adviser, the total amount of time spent speaking to your Adviser will be set out in an additional agreement before the service begins.
4. The maximum duration of this service is 3 months, except that you will retain access to your Financial Plan for up to 6 months from the Start Date.

Limitations of this service

5. Octopus Money does not provide legal or accounting advice or prepare any legal or accounting documents. This means that the onus is on you to refer any point of law or accountancy that may arise during the course of discussions with us, to a solicitor or accountant.

Eligibility & Client Criteria

6. Plan My Goals is not suitable for individuals who:
   a. Are under 18 years of age
   b. Are not resident and domiciled in the UK for tax purposes
   c. Are citizens of the USA
   d. Require guidance or advice on assets that are not based in the UK
   e. For any other reason have particularly complex personal or financial circumstances which are outside the scope of Octopus Money’s services.
7. Octopus Money reserves the right to cancel the provision of our services for any client who, in our opinion, requires guidance or advice outside the scope of our services. In the event that your service is cancelled, refer to clause 13 below.
8. Depending on your circumstances, we will determine whether you are best served by a Coach or an Adviser.

Onboarding

9. Individuals who wish to sign up to the service must first book and hold a free Starter Session.
10. Upon completion of the Starter Session, or at any time afterwards, you should notify your Coach or Adviser as applicable that you wish to sign up to the Plan My Goals service. Depending on your payment method (see below) you may be required to confirm your purchase of the service, in which case you agree to
11. The service begins from the date on which you receive an email from Octopus Money confirming that your payment has been received, or request for payment is ready to be submitted to your employer. (“Start Date”)

Service End

12. The service ends when one of the following occurs:
    a. It has been 3 months since the Start Date, which is the maximum duration of the service.
    b. You are working with a Coach, and you have reached the maximum number of calls or time with your coach as outlined above.
    c. You agree mutually with your Coach or Adviser that you would like to end the service.
13. When the service ends:
    a. You will not be entitled to any additional calls with your Coach or Adviser, except by agreement with Octopus Money.
    b. No more changes will be made to your Financial Plan by your Coach or Adviser.
    c. You will retain access to the Financial Plan that has already been created for you for an additional 3 months.
    d. You will move on to our Basic Membership, outlined below, or to another of our services as agreed with Octopus Money.

Payments & Fees

14. The standard price of this service is £299, inclusive of VAT.
15. If your employer offers this service as an employee benefit, the price may be discounted, as agreed with your employer. If this is applicable to you, then it will be made clear on your employer’s dedicated booking page hosted on the Octopus Money website.
16. You may use any one of the following methods to pay for this service. Please refer to clause 8 of the main terms and conditions for more detail on each method:
    a. Direct Debit
    b. Salary Sacrifice
    c. Net Pay
    d. Employer Funding
    e. Part Employer Funding / Part Salary Sacrifice

Cancellations & Refunds

17. For most services bought online you have a legal right to change your mind within fourteen (14) days and receive a refund under the Consumer Contracts Regulations 2013. You will have fourteen (14) days after the Start Date to change your mind.
18. Subject to paragraph 20, if you cancel within fourteen (14) days after the Start Date and:
    a. you paid for the service by Direct Debit or Net Pay, we will refund any payments received from you by transferring the relevant amount to your bank account; or
    b. you paid via Salary Sacrifice:
    i. you agree that we may refund any payments received from you by transferring the relevant amount to such bank account as you direct;
    ii. you agree that you will report all untaxed income (that you will receive as a result of receiving the refund) to HMRC and pay any relevant taxes that become due; and
    iii. indemnify Octopus Money for any loss or damage it suffers as a result of your failure to comply with the clauses above.
    c. you paid via Employer Funding, we will refund to your employer any payments received from them that were intended to pay for your service.
19. You will not be entitled to a refund if you cancel after the first fourteen (14) days from the Start Date.
20. If you cancel after we have started to provide or after you have started to use the Services, you must pay us for the services provided up until the time you tell us that you have changed your mind. If the services provided to you up until the time you tell us that you have changed your mind does not include receipt by you of a Financial Plan, you must pay us £25. If the services provided to you up until the time you tell us that you have changed your mind does include receipt by you of a Financial Plan, you must pay us £200. We will deduct the relevant amount from the amount received from you for the subscription, before providing the refund.
21. To exercise your right to change your mind, please email us at support@octopusmoney.com to explain that you’d like to cancel.
22. Upon cancellation, your service will end as outlined in clause 13 above.

Ongoing Support
About this service

1. Ongoing Support is a service for clients who have completed the Plan My Goals or Sort My Budget services, and would like to retain ongoing support to manage and improve their finances.

What’s included in this service?

2. When you enrol in this service you will receive:
   a. Everything that is included in the Basic Membership, described below.
   b. Full ongoing access to your Financial Plan (if you received one as part of Plan My Goals), and access to any additional software tools provided by Octopus Money for clients.
   c. Access to a Coach: Up to 1 hour of coaching per year is included, and you have the option to pay for extra coaching sessions whenever you like.
   d. Access to our suite of content, tools, services and partners that provide either the financial guidance or financial advice required to implement your Financial Plan.
3. There is no maximum duration of this service. It will continue until you either cancel your subscription, or move to a different service.

Limitations of this service

4. Your Coach will not carry out any major updates to your Financial Plan, for instance if your circumstances or goals are substantially changed. In this case, you would have to revert back to the Plan My Goals service, and pay the applicable fees for that service.
5. Only 1 hour of coaching time per year is included in the cost of the service. At the outset of the service you will agree how best to split this time e.g. 4 x15 minute calls, or 2 x30 minute calls. Once you have used up this coaching time, you would be required to pay for extra coaching sessions either in 30 minutes or 60 minute instalments.

Eligibility & Client Criteria

6. Ongoing Support is only available to clients who have completed either the Plan My Goals or Sort My Budget services within the last 12 months.
7. Ongoing Support is only available to clients who have been assigned a Coach to work with.
8. Octopus Money reserves the right to cancel the provision of our services for any client who, in our opinion, requires guidance or advice outside the scope of our services. In the event that your service is cancelled, refer to clause 11 below.

Onboarding

9. You can sign up to the Ongoing Support service by notifying your coach, or by completing the relevant form on the Website. You will be directed to a form where you can set up your direct debit to pay for the service.
10. The service begins from the date on which you receive an email from Octopus Money confirming that your direct debit for Ongoing Support has been successfully created. (“Start Date”)

Service End

11. The service ends when one of the following occurs:
    a. Your direct debit is cancelled or a payment fails after 3 attempts to take a payment that is due.
    b. You move from Ongoing Support to one of our different service offerings.
12. When the service ends:
    a. You will not be entitled to any additional calls with your Coach, except by agreement with Octopus Money.
    b. You will lose access to the Financial Plan, and any other software tools provided by Octopus Money.
    c. You will move on to our Basic Membership, outlined below, or to another of our services as agreed with Octopus Money.

Payments & Fees

13. The price of this service is £10 / month
14. You may only pay for this service via direct debit, in quarterly intervals (i.e. You will pay £30 every 3 months.)
15. Your direct debit must be active at all times for the duration of your subscription. In the event that it is cancelled, your service will be terminated.

Cancellations & Refunds

16. You may cancel your subscription at any time by emailing us at support@octopusmoney.com to explain that you’d like to cancel.
17. When you notify us that you’d like to cancel:
    a. We will stop any future payments that are due to leave your account. It may take up to 2 working days from when you notified us for this to be processed.
    b. Your service will end, as outlined in clause 12 above.

Ongoing Advice
About this service

18. Ongoing Advice is a service for clients who have completed the Plan My Goals service, have chosen to have Octopus Money manage their investments and/or pension, and would like to retain ongoing support to manage and improve their finances.

What’s included in this service?

19. When you enrol in this service you will receive:
    a. Everything that is included in the Basic Membership, described below.
    b. Full ongoing access to your Financial Plan, and access to any additional software tools provided by Octopus Money for clients. Your Coach or Adviser will re-plan your finances and update your goals whenever you like (subject to the time constraints below).
    c. Access to ongoing support from a Coach or Adviser.
    i. If you are working with a Coach: Up to 2 hours of coaching, spread across 3 calls per year is included, and you have the option to pay for extra coaching sessions whenever you like.
    ii. If you are working with an Adviser: There is no limitation on the number of calls you may have, at no extra cost.
    d. Access to a designated support team, on hand to help with questions around the financial actions, highlighted by your financial plan
    e. Your investments and/or pensions will be managed by the Octopus Money investment service.
    f. Access to our suite of content, tools, Advisory Services and partners that provide either the financial guidance or financial advice required to implement your Financial Plan.
20. There is no maximum duration of this service. It will continue until you either cancel your subscription, or move to a different service, or withdraw/transfer away your investments from Octopus Money.

Limitations of this service

21. You are entitled to up to 2 hours of coaching, spread across up to 3 calls with your Coach. Once you have used up this coaching time, you would be required to pay for extra coaching sessions either in 30 minutes or 60 minute instalments.

Eligibility & Client Criteria

22. Ongoing Advice is only available to clients whose investments and/or pensions are managed by the Octopus Money investment service.
23. New customers must first complete the Plan My Goals service, and have an active Financial Plan.
24. Octopus Money reserves the right to cancel the provision of our services for any client who, in our opinion, requires guidance or advice outside the scope of our services. In the event that your service is cancelled, refer to clause XX below.

Onboarding

25. You can sign up to the Ongoing Advice service by notifying your coach, or by completing the relevant form on the Website.
26. The service begins from the date on which you receive an email from Octopus Money confirming that your Ongoing Advice service has started. (“Start Date”)

Service End

27. The service ends when one of the following occurs:
    a. You do not make your first contribution or transfer of investments to Octopus Money within 6 months of the Start Date.
    b. We receive notification from you that you’d like to withdraw or transfer your investments from being managed by Octopus Money.
    c. You move from Ongoing Advice to one of our different service offerings.
28. When the service ends:
    a. You will not be entitled to any additional calls with your Coach, except by agreement with Octopus Money.
    b. You will lose access to the Financial Plan, and any other software tools provided by Octopus Money.
    c. You will move on to our Basic Membership, outlined below, or to another of our services as agreed with Octopus Money.

Payments & Fees

29. Payment for the Ongoing Advice service will be deducted from the investments which are managed by Octopus Money.
30. The price of this service is 0.75% of the amount invested with Octopus Money per year, subject to a minimum charge of £299 (“Minimum Charge”). In addition to the 0.75% paid to Octopus Money, you will incur additional fees when you invest such as platform fees, and fund charges. The total charges and fees will be made clear to you before you invest.

Cancellations & Refunds

31. In the event that you do not contribute or transfer funds to your Octopus Money account after 6 months from the Start Date, you’ll be charged the Minimum Charge via direct debit. This is to cover the cost of provision of the services up to this point.
32. Should you wish to end the service, you must notify us in writing. We will then switch any investments or pension held with us onto an “execution-only” basis, and will cease to make any ongoing recommendations, and the points made in paragraph 28 above will apply.

Basic Membership
About this service

23. Our basic membership is for individuals who do not require the full financial planning, coaching or financial advice services provided through our other services.

What’s included in this service?

24. When you enrol in this service you will receive:
    a. Access to a suite of content including webinars, monthly newsletters and other guides
    b. Access to some of our Advisory Services, including Wills Service, Mortgage Service, and Insurance & Protection Service
    c. Email support from our Money Support Team

Limitations of this service

25. Users who join the basic membership after having paid for another service will lose access to their Financial Plan (if they have one), Coach and/or Adviser.

Eligibility & Client Criteria

26. You must be at least 18 years old and a UK resident.
27. You can only become a user of the Basic Membership if:
    a. Your employer offers Octopus Money as an employee benefit, and you are eligible to make use of those employee benefits.
    b. You have previously used one of the paid services offered by Octopus Money, listed in these terms.

Payments & Fees

28. There is no charge for the Basic Membership.

SCHEDULE 2

This Salary Sacrifice Agreement is an Amendment to the Employee’s Contract of Employment with his/her Employer in accordance with Section 4 of the Employment Rights Act 1996 (“Agreement”) referring in particular to the Employee’s salary, which is the contractual cash pay provided by the Employer to the Employee previously agreed between the parties (“Salary”).

Definitions
“Employee” means the employed individual who receives a salary from the Employer.
“Employer” means the employer who pays the Employee.
“Contractor” means TW11 Wealth Management Limited, a company registered in England number 10339119, whose registered office is at 8 Waldegrave Road, Teddington, TW118HT, who is responsible for delivering the Octopus Money Service.
“Octopus Money Service” means the Financial Coaching, Financial Planning and Financial Advice services provided by the Contractor to the Employee as outlined in the Octopus Money Client Terms and Conditions found at https://octopusmoney.com/terms.
“Pension Advice” and “Advice” means the provision of information, guidance or advice relating to a person’s pension arrangements as defined by HMRC’s Employment Income Manual, section EIM21803.

General Terms

1. The Contractor will notify the Employer when the Employee has requested to subscribe to the Octopus Money Service, and when the Employee’s subscription is renewed, as outlined in the Octopus Money Client Terms and Conditions.
2. Upon receiving notification from the Contractor, the Employer will reduce the Employee’s Salary by the value of the Employee’s subscription to the Octopus Money Service which has been agreed between the Contractor and the Employee (“Employee Subscription”).
3. The Employer will consequently pay the Employee Subscription to the Contractor, plus any additional fees agreed between the Employer and the Contractor. The Employer agrees to complete payment to the Contractor on a timely basis, and within 30 days of the Employee’s salary being reduced. If payment cannot be completed within those 30 days, the Employer agrees to notify the Employee as soon as possible.
4. The Employer may decide to reduce the Employee’s salary by the total value of the Employee Subscription in one go, or they may choose to spread the deductions over a number of months (up to a maximum of 12 months). In the event that the deduction is not a one-off event, the Employer must notify the Employee of the arrangement. If the Employee stops being employed by the Employer before the total Employee Subscription has been deducted, the Employer may deduct the total outstanding amount from the Employee’s final salary payment.
5. The Employer shall not enter into this Agreement or make any related amendment to Employee’s Salary if doing so would constitute a breach of any legislation and/or HMRC published guidance in connection with the provision of salary sacrifice benefits and related tax arrangements.
6. The Employer agrees to take all reasonable steps to protect all Employee personal information, including personal contact information and information about the advice they have received which is limited to the following:
   6.1 The Employees’ name;
   6.2 the value of the Employee Subscription that has been set up; and
   6.3 the fact the Employee has received financial advice.
7. The Finance (No. 2) Act 2017 allows employers to offer Pension Advice as a salary sacrifice benefit. The maximum total value of the Pension Advice that is paid for through salary sacrifice (or which is reimbursed through salary sacrifice) may not exceed £500 per tax year per employee. It is the Employee’s responsibility to ensure that they do not exceed this limit as a result of taking advantage of this salary sacrifice arrangement.
8. It is the Employee’s responsibility to determine and understand the effect on his/her financial position by entering into this Agreement in respect of Employer or state benefits which may include but are not limited to Statutory Sick Pay, Statutory Maternity Pay and Tax Credits.
9. It is the Employee’s responsibility to ensure that the Octopus Money Service is suitable for their needs and preferences. The Employer may not be held liable in the event that there is a dispute between the Employee and the Contractor regarding the delivery or quality of the Octopus Money Services.
10. Any payments owed by the Employee to the Contractor remain the responsibility of the Employee to pay. Neither the Contractor or the Employer will be held responsible for Employee failure to pay agreed fees.
11. In the event that the Employee wishes to end his/her subscription to the Octopus Money Services, he/she agrees to notify the Contractor directly by emailing support@octopusmoney.com. Failure to notify the Contractor may result in the automatic renewal of the Employee Subscription.