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Privacy Policy

Date of last update: 14th December 2023
Right Wealth Management is committed to respecting and protecting your personal information and privacy. As an essential part of our business we collect and manage client and non-client data so we can deliver the highest quality financial advice and service at all times. When we do so we are legally obliged to use your information in line with UK GDPR. In order that you are fully informed as to how we operate we have developed this Privacy Policy which tells you all about how we collect, manage, process, store and share information about you.

Understanding the General Data Protection Regulations (GDPR)

The introduction of GDPR was the biggest change to data privacy laws in over 20 years and is now governed by the UK GDPR or, the Data Protection Act 2018. The regulation is focussed on you the individual and how your data is used and processed. It is important we let you know the rights you have under the regulations and these are described below.

How the law protects you

The UK GDPR says we are allowed to use your personal information only if we have a proper reason to do so, the law says we must have one of the following reasons;

  • To fulfil a contract we have with you;
  • When it is our legal duty;
  • When it is our legitimate interest;
  • When you consent to it;

We process data from clients and non-clients for all of the above reasons. A legitimate interest is when we have a business or commercial reason to use your information including but not limited to internal administrative purposes, enhancing and improving our business, carrying out research, product development and preventing fraud.

How do we collect your data?

Collection methods are:

  • Through our website;
  • From interactions with you whether over the phone, in person, in writing or through our website and emails;
  • From third parties such as a corporate partner which has referred your details onto us in order that we may provide you a service;
  • Through recruitment channels, responses to job advertisements or apprenticeship schemes.

What information do we collect about you?

We process both personal and special category data. Personal data we process may include name, address, date of birth, email address and telephone numbers. It may also include an IP address and cookies if you visit our website. The nature of our business means we also collect special category data such as health data and biometric data (passports for identification and verification purposes as required by law) so we can give the most accurate and up to date financial advice.

What are cookies?

We use cookies to collect information about how our website is used.  These are small text files placed on your computer to review how clients use our website so we can continually improve it.  You can set your browser not to accept these cookies if you choose. The most effective way to disable these is through your browser. We suggest consulting the help section of your browser, or taking a look at the About Cookies website.

How will this be used?

We will use your personal data in the following ways;

  • To provide you with information, products or services which you request from us or we feel may be interest and beneficial to you or you need to know;
  • To carry out, or seek to carry out, work on your behalf arising from any contract entered into by us and you and fulfil our responsibility to you which is to ensure your documents are up to date;
  • To notify you of any changes to our services;
  • For recruitment and employment purposes;
  • For training and monitoring purposes.

Will we share your data with anyone else?

Yes, with companies we use to deliver our services to you for example product and platform providers and our professional advisers.

And in order to fulfil our obligations in respect of prevention of money-laundering and other financial crime we may send your details to third party agencies to check your identity.

Where we do share your information we will have a contract in place to ensure that the nature and purpose of their processing is clear, that they are subject to a duty of confidence in processing your data and that they’ll only act in accordance with our written instructions.     

Where it is necessary for your personal data to be forwarded to a third party we’ll use appropriate security measures, such as secure email, to protect your personal data in transit.

How long will you keep my data?

During the course of our relationship with you we’ll keep the personal data necessary to provide our services to you. We’ll take all reasonable steps to keep your personal data up-to-date.

We’re also subject to regulatory requirements to retain your data for specified minimum periods. These are, generally:

  • Five years for investment business
  • Three years for insurance business

These are minimum periods, during which we have a legal obligation to retain your records.

We reserve the right to retain data for longer where we believe it’s in our legitimate interests to do so.

What are my rights?

As well as our obligations and commitment to respect the privacy of your information you also have certain rights in relation to the personal information we hold about you which are outlined below.

None of these are absolute and are subject to various exceptions and limitations.

The right to be informed – we must be transparent in how we process your data, this privacy policy is designed to give you clear information about how we collect and use your information.

The right of access – you are entitled to request a copy of the personal information we hold about you.

​The right to object – in relation to direct marketing or profiling you have the right to object to us processing.

​The right of rectification – if you let us know the information we hold about you is incorrect or has been updated we have an obligation to correct it.

The right to be forgotten – you can ask us to delete your data when it is no longer required for a legitimate business need, legal or regulatory obligations or for the purpose it was collected for.

The right to restrict – you have a right to ask us to limit the way we process your data.

​The right to data portability – if when you gave us data it was collected electronically you can request the data we hold about you in a commonly used machine readable format.

Rights in relation to automatic decision making or profiling – we do not use automatic decision making or profiling in our business.

You also have the right to opt-out of any direct marketing by contacting us using the contact details below.

How to contact us

If you have any specific concerns about the privacy of your personal data or require further information about how we manage your personal data please get in touch with us directly on the details below. Our Data Protection Officer is Philip Jones.

If you wish to complain

We hope that you do not have cause to make a complaint but if you do please email complaints@rightwealthmanagement.com. If you are not satisfied with the way we handle your complaint you are entitled to raise a complaint directly with the Information Commissioners Office via the details available on their website www.ico.org.uk.

How can we help?

Get in touch with our team to find out how we can provide you with financial peace of mind.