The Irwin Mitchell Group is a group of organisations that provide legal services via Irwin Mitchell LLP, Financial Services via IM Asset Management Limited, and other associated services via our other group companies.
Any reference to “we”, “our” or “us” means IM Asset Management Limited which is authorised and regulated by the Financial Conduct Authority.
We are committed to protecting your privacy. So that you are reliably informed about what personal data we collect about you, how we use it, who we share it with and what your rights are, we are providing you with this privacy notice, which describes the ways in which we collect, store and process your personal data (personal information).
We’ll tell you:
Who we are
IM Asset Management Limited is a member of the Irwin Mitchell Group and is a specialist financial services business providing clients with:
- Financial advice
- Wealth management
- Investment management
- Portfolio management
- Financial protection planning
- Inheritance tax planning
- Pension and retirement planning; and periodic payment checking services across the UK.
We act as a “Controller” in respect of your personal information. Being a Controller means that we are responsible for keeping your personal information safe, and deciding how we collect, store and use your personal information.
What personal information we collect, store and use and the purpose we use your personal information for
Your personal information contains certain information about you as an individual which identifies who you are, such as name, address, telephone number date or birth, video/CCTV etc. Sometimes the information we collect is sensitive in nature such as health information or your religious beliefs. Such sensitive information is given added protection.
Please also note all the personal information we receive from you is also treated with the strictest of confidentiality.
We may process your personal information (where we have received this directly from you or from another source) if:
You are a client or prospective client
As an essential part of our business, we collect and manage client information. In doing so, we observe applicable data protection laws and are committed to protecting and respecting clients’ privacy, rights and personal information.
The personal information that we collect about you is to manage and administer you engagement with us as a client or prospective client and provide our services. We collect personal information which includes your name, address, contact details, NI number, passport/driving license details, financial information (including bank details, details of any benefits, tax and tax residency, savings and loan information, and expenditure), details of dependents and spouse.
We may also collect, store and use more sensitive special category personal information that may include marital, civil partnership or relationship status, details of your partner, civil partner or spouse, physical or mental health details, religious and other beliefs, and racial or ethnic origin.
We collect this in a number of different ways. For example, you may provide this personal information to us directly, online, over the telephone or when corresponding with us by email or letter.
We use this personal information to set you up as a client, open a file, provide our advice and services administer and manage our relationship with you. This includes the following uses:
- Carrying out regulatory and compliance checks in order to set you up as a client including checks to verify your identity, fraud and credit checks
- Providing you with financial planning and investment advice which may result in the recommendation of financial products and/or services
- Providing you with advice about tax planning, trusts, wills and inheritance tax planning
- Making and receiving payments to and from you in accordance with your instructions
- Assisting you with income and expenditure planning
- Helping you to achieve your financial goals
- Providing custody and settlement services in relation to your investments and holdings including pre- settlement and expert witness reports
- Providing a periodical payment checking service
- Providing mortgage capacity reports
- Managing your investment portfolio and carrying out transactions
- Submitting tax information on your behalf including to overseas jurisdictions under their laws
- Administering payments
- Communicating with you via email, telephone and in writing about the work we are doing for you
- Recording telephone conversations or meetings for regulatory, monitoring and quality purposes and to administer and improve our services to you
- Carrying out client satisfaction surveys
- Confirming to Irwin Mitchell LLP that we are in contact with you where they have referred you to us. Please note that we will observe our data minimisation obligations when we confirm this
- Carrying out our compliance obligations (other than those referred to above)
- Processing and responding to any complaints
- Bringing or defending legal proceedings.
You use our website or other services we may provide through our website
If you fill in a form on our website, or contact us via other means such as email, telephone or by post, we will collect the information you provide when you contact us, such as your name and contact details. We will use this personal information to:
- Send you the information you have requested, for example about our products and services
- Respond to your enquiry.
You are an individual within any third party we engage with such as our suppliers or other service providers such as marketing agencies
As part of our business dealings, we engage with third party service providers and their workforce to enter into agreements or other services and products. If you are an individual within such third party service providers, we will process your personal information as set out in this privacy notice.
A client has provided us with your information
Our client may give us personal information about you as part of asking us to provide advice to them. This may include your name, address, contact details, NI number, passport/driving license details, financial information (including bank details, details of any benefits, tax and tax residency, savings and loan information, and expenditure), details of dependents and spouse. We may also collect, store and use more sensitive special category personal information that may include marital, civil partnership or relationship status, details of your partner, civil partner or spouse, physical or mental health details, religious and other beliefs, and racial or ethnic origin.
We will use this personal information in order to carry out our compliance checks or to give advice to our client or to trustees where you are a beneficiary.
You have been referred to us from a third party or we have collected information about you from another third party
If a member of the Irwin Mitchell Group or any other third party has obtained your consent we may contact you in relation to our services or any other matter that you have consented to. We will be using your personal data for this purpose on the basis of your consent.
How we use your personal information
We use the data collected from you for the specific purposes listed in the table below. Please note that this table also explains: the legal basis for processing your data, linked to each processing purpose; and in what circumstances your data will be shared with a third party organisation.
We may share your personal information with trusted third parties from time to time. These third parties are our processors who will only process your personal information in accordance with our instructions. We will not, however, share your personal information with a third party for marketing purposes unless we have your consent to do this. We do not sell any personal information to any third party so that they can send you their marketing material.
We have set out below the third parties we may share your personal information with. If we do this, we will put in place a contract with them which controls how your personal information may be used and which requires that your personal information is treated in accordance with data protection laws.
We may record our telephone conversation with you therefore any information captured via this medium will automatically be processed for managing and developing our contract with you, regulatory, training and monitoring purposes.
|Purpose for processing data
||Legal basis for processing data
||Third party organisations with whom data is shared
|Providing services, advice or assistance to a client or trustees where you are a beneficiary
||Our legitimate interests in order to be able to provide accurate advice, the correct services and appropriate assistance
||Clients, trustees and inter group companies
|Provision of legal advice where we refer you to Irwin Mitchell LLP
||With your consent
||Irwin Mitchell LLP
|Provision of our services to you
||Our contract with you
||Irwin Mitchell LLP
|Updating your records If you change your contact details and we know that you are also an Irwin Mitchell client then in order to ensure that they have accurate contact details for you we will share your updated details. We do this to ensure that accurate personal data is used to contact you
||Our contract with you and our legal obligations
||Irwin Mitchell LLP
|Maintaining, developing and administering our services such as IT services, finance, HR, legal, marketing and records and facilities management
||Our contract with you
||Irwin Mitchell Group Companies
|Fulfilling our legal obligation in relation to our business and in relation to the provision of our services and advices to you
||Our contract with you and our legal obligations
||Professional advisors (including lawyers, compliance consultants, financial auditors, insurers and/or insurance brokers)
|Referrals to carefully chosen third party service providers for the provision of their financial services products to you including software and other products
||With your consent
Financial Product and Service Providers providing specialised financial services products including financial software
Carefully selected suppliers
|Carrying out mergers and acquisitions
||Our contract with you
|Complying with law, rules, regulations, legal procedures. This may include compliance with overseas and international law and processing your data through approved reporting mechanisms such as regulatory platforms
||Our legal obligations
Companies or individuals
Regulators including the FCA
Do you have to provide us with your personal information?
Where we have said that your personal information is used in order to comply with statutory requirements, carry out a contract with you or to take steps to enter into that contract, we will need you to provide the personal information requested. If you don’t provide the personal information we need when we ask for it, we may not be able to respond to you, enter into a contract with you, meet our obligations under the contract, or comply with our legal obligations. If you have any concerns about whether you need to provide your personal information please contact our Data Protection Officer at IMAMLdataprotection@irwinmitchell.com.
Do we transfer your personal information outside the UK?
It may sometimes be necessary to transfer personal information outside the UK. We will only transfer your personal information overseas where e.g. our third party service providers who we share personal information with (as set out above) are based outside the UK, have support services located outside the UK or host personal information outside the UK.
We only transfer your personal information outside the UK where we are sure that your personal information is protected to the same standard as it would be protected in the UK.
If you would like further information on the safeguards we have in place for transfers of your personal information outside the UK, please contact IMAMLdataprotection@irwinmitchell.com.
Whether we can change the purpose that we are collecting, storing and using your personal information for
We will only use your personal information for the purposes set out above unless another purpose we want to use it for is compatible with those original purposes. If we change the purpose for which we are using your personal information we will contact you and explain how the new purpose is compatible with the original purpose, If we would like to use your personal information for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do this.
How long we will keep your personal information for
Except where the personal information relates to one of our Court of Protection clients, we will retain personal information for a period of seven years after the termination of our business relationship with you, other than:
- Where we have a legal obligation to hold the personal information for longer than 7 years or
- It relates to pensions transfer business, Opt Outs or FSAVC advice, which we hold indefinitely as required by the Financial Conduct Authority or
- The recordings of telephone calls which will be held for longer than 7 years.
We will hold personal information relating to individuals which are subject to the Court of Protection for a period of 7 years after death. We will only be considered to know of the death where we are expressly told.
Whether we intend to do automated decision-making or profiling
We do not use your personal information to make automated decisions about you.
How we process your personal information in relation to marketing
If you are one of our clients or have signed up to our updates or events, we may use your personal information for the purposes of providing you with further information about our services, including sending legal updates, publications and details of events and webinars, that may be of use to you.
If you are not a client but have signed up for marketing (including legal updates, publications and invitations to events) we will use your personal information on the basis that you have given us your consent.
Where we carry out marketing via email or other electronic means we will also comply with our obligations under the Privacy and Electronic Communications Regulations 2003.
We use your personal information to carry out client satisfaction surveys on the basis of our legitimate interests in order to receive feedback as a business and improve our services that we provide to clients.
In any case, you can, of course, opt out of receiving our marketing by contacting our Data Protection Officer at IMAMLdataprotection@irwinmitchell.com and where we send you marketing material via email an option to unsubscribe will be given in each email.
What security and privacy measures we have put in place to help protect your personal information?
We have put in place appropriate security measures to prevent your personal information from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. These measures include:
- Protecting against potential breaches of confidentiality
- Ensuring all IT facilities are protected against damage, loss or misuse
- Increasing awareness and understanding of the requirements of information security, and the responsibility of our colleagues to protect the confidentiality and integrity of the information that they handle
- Ensuring the optimum security of our website.
In addition, we limit access to your personal information to those employees, agents, contractors and other third parties (see above) who have a business need-to-know.
We have put procedures in place to deal with any suspected data security breach and will notify you and any applicable regulator of a suspected breach where we are legally required to do so.
Our security procedures mean that we may occasionally request proof of identity before we are able to disclose personal information to you.
Your data privacy rights
You have the following rights under data privacy laws:
Right to be informed
Right to access
You have the right to ask us what personal information we hold about you (Subject Access Request) and to have a copy of that personal information from us (along with certain other details).
Right to rectification
If any of the personal information that we hold about you is inaccurate, you have the right to ask us to correct any errors in your personal information.
Right to be forgotten
You have the right to ask us to delete your personal information where: (i) we don’t need your personal information anymore; (ii) you withdraw your consent to our use of your personal information and we have no other legal basis to keep your personal information; (iii) you have asked us to review and explain our legitimate interests to you and we don’t actually have a valid legitimate interest to do what we are doing; (iv) our use of your personal information is illegal; (v) we have to delete your personal information to comply with our legal obligations.
Right to object
You have the right to ask us to review and explain our legitimate interests to you where we are collecting, storing and using your personal information on a legitimate interests basis, including where we are collecting, storing and using for profiling or by automated means. You have the right to object to our legitimate interests and that collection, storage and use unless we can demonstrate compelling legitimate grounds.
You also have the right to object to us sending you marketing communications.
Right to restrict processing
you have the right to ask us to restrict our use of your personal information where:
- You don’t think the personal information we have about you is correct, so that we can check if it is correct
- What we are doing with your personal information is illegal but you would rather we stop using your personal information rather than delete it
- We don’t need your personal information anymore, but you need us to keep it so that you can exercise any legal rights
- You have asked us to review and explain our legitimate interests to you, so that we can check whether we actually have a valid legitimate interest to do what we are doing.
If any of these circumstances apply, then please contact us.
Right to data portability
The right to ask us to provide you with a copy of the personal information you have provided to us, in a structured, commonly used and machine-readable format and the right to transfer that personal information to another entity where: (i) we are using your personal information on the basis of your consent or on the basis that it is necessary to perform a contract with you; and (ii) the use we are making of your personal information is carried out by automated means. If you would like to move, copy or transfer the electronic personal information that we hold about you to another organisation, please contact us.
Right to withdraw consent
Where we are using your personal information based on your consent you have the right to withdraw that consent at any time by contacting our Data Protection Officer at IMAMLdataprotection@irwinmitchell.com
Right to make a complaint
You have the right to make a complaint at any time to the Information Commissioner’s Office (ICO), (the UK regulator for data protection issues, who may be contacted at Wycliffe House, Water Lane, Wilmslow SK9 5AF or ico.org.uk). We would, however, appreciate the chance to deal with your concerns before you approach the ICO and so, if you are happy to do so, please contact us in the first instance and we will try to resolve your issue.
Visits to our offices
What personal information do we collect if you visit us and how do we use it?
If you visit one of our offices there are CCTV cameras to capture images. Irwin Mitchell LLP, a member of the Irwin Mitchell Group, operates our offices and is the Controller of the personal information collected via CCTV. It may share images with us for the purposes of security, employee safety and in certain circumstances, to verify information (such as when you visited our site or to establish facts in relation to health and safety incidents).
There are notices at our offices informing visitors that CCTV cameras are recording. We restrict access to the CCTV images to authorised staff and we keep the personal information obtained for only a limited period of time.
Questions and comments regarding this Privacy Notice are welcome, and should be sent to our Data Protection Officer at: IMAMLdataprotection@irwinmitchell.com
Alternatively, you can write to our Data Protection Officer at:
IM Asset Management Ltd