Financial Insights

Privacy Policy

16th Jun 2023

The following policy sets out how we, Compare Wealth Managers Ltd(company registration number 13043592), (hereafter referred to as “CWM”, “we”, “us” or “our”), collect, store, and use information about you when you interact with our website, comparewealthmanagers.com, including any data you may provide when you utilise our service. This website is not intended for children, and we do not knowingly collect data on children.

We respect your privacy and are committed to protecting your personal data; by using this website, you are signifying your acceptance of this policy. From time to time, changes may be made to this policy following review; in the case of alterations, this policy will be updated, and date stamped accordingly.

For clarification of some of the terms used within this policy, please refer to the glossary.

How to contact us

If you wish to make an enquiry regarding your data, you can contact us via the following details:

enquiries@comparewealthmanagers.com
+44 020 7046 6050
265-269 Wimbledon Park Road, London SW19 6NW

Or alternatively, you can use the contact form to Contact us.

We try to respond to all legitimate requests within one calendar month. Occasionally it could take us longer than this should your request be particularly complex or if you have made a number of requests; should this be the case, we will notify you of this.

At our discretion, we may request to see a form of identification (for example a passport or utility bill) in order to confirm your identity prior to responding to a Subject Access Request. This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it.

You will not have to pay a fee to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive, or excessive. Alternatively, we could refuse to comply with your request in these circumstances.

The type of information we collect

Contact Information

When you contact us through the contact details listed on the website, through the enquiry form, or via email, telephone or post, your contact details will be retained in accordance with your enquiry. This will include your name, email address and telephone number.

We do not collect any special categories of data.

Financial Data

If you make the decision to engage our services, we will need to record financial data in order to match you with suitable wealth managers. This may include (but is not limited to) your net worth, any investments and assets, and details of your family situation. This information will be ascertained during an initial call with yourself, and may also be collected from the contact form, should you choose to provide this information within in your initial enquiry. This information will only be used to find wealth managers that can provide tailored advice based on your situation.

Cookies

The cookies that we collect during the use of this website are for statistical and analytical purposes and are necessary to ensure the functionality of this website. They are further utilised to provide usage data on how you use our website.

By ticking the option “OK” on our cookie banner, you are consenting to the use of these cookies[MK1] . You can set your browser to refuse some or all browser cookies; please note that if you refuse or disable cookies, some parts of this website may malfunction or become inaccessible.

For more information on the cookies collected through our website, please refer to our Cookie Policy.

Tag Management System

Within our website, we have employed the use of a tag management system (TMS), which allows us to update measurement codes and related code fragments (collectively known as ‘Tags’) quickly and efficiently. This is a service provided by Google and manages things such as Google Analytics.

User behaviour tracking is implemented as part of this and is used for marketing and analytical purposes. Please be aware that as part of this service, Google transfers this data to further 3rd parties.

Furthermore, our wealth managers have third tag managers deployed on this site and will therefore also act as controller in respect to your data.

By confirming your consent to cookie collection, you are also confirming consent to the use of your data within the TMS.

Server Logs

IP addresses associated with visits to this website are stored in server logs for less than XX[MK2] days and are only used for the purposes of detection and prevention of fraud, unauthorised access, or other malicious activity.

How we use your information

Your contact details are used in order to process your enquiry, enter into a contract with you, and provide a service.

If you decide to utilise our services, your financial data will be used in order to provide our service. By providing us with this information you have consent for this information to be processed.

Your contact and financial information is transferred to third parties (our wealth managers) in order to conduct this process. When you provide this information through the contact form on the website, consent is collected for the retention and transfer of this data.

Technical data collated regarding your website is used for analytical and marketing purposes. In some circumstances, this information may be sold to a third party; you have the right to opt out of this by opting out of cookie collection. Furthermore, you may also contact us to request restriction or deletion of your data.

Business Changes

Should we make a commercial change to the business, for example, choosing to sell, acquire or merge with another business, your data will be used for the same purposes as set out within this policy. Should any changes be made to our working practises, this policy will be updated accordingly, and data subjects will be informed in writing.

Lawful grounds for processing data

We will only use your personal data for the purposes for which we have collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If you wish to get an explanation as to how the processing for the new purpose is compatible with the original purpose, please contact us.

Please refer to the below table in which we have determined the ways we plan to use your data, and the legal basis for doing so.

Purpose/Activity

Type of Data

Lawful basis for processing

To store cookies

IP address

Necessary for our legitimate interests (for the purposes of ensuring network and information security, and to ascertain how users interact with the website via analytics)

To store web server log information

IP address

Necessary for our legitimate interests (for the purposes of ensuring network and information security)

Disclosure of your information to service providers (external third parties)

Including (but not limited to) telephone, email, address, business name

Necessary for our legitimate interests (to provide a service)

Storage of your contact information

Including (but not limited to) telephone, email, address, business name

Necessary for our legitimate interests (for the purposes of running our business effectively, including but not limited to; to register you as a customer, to maintain a relationship with you, to provide the services for which you have engaged our business)

Marketing communications

Contact information

Necessary for our legitimate interests or consent (to communicate with existing clients, to study how customers use our service, to grow our business and inform our marketing strategy)

Data Retention

By law we must retain basic information about our customers (including contact, identity, and financial data) for six years after they cease being customers for tax purposes.

In some circumstances we will anonymise your personal data for research or statistical purposes, in which case we may use this information indefinitely without further notice to you.

If you fail to provide personal data

Where we need to collect personal data as determined by our contractual obligations, and you fail to provide that data when requested, we may not be able to perform the contract we have or are trying to enter into with you. In this case, we may have to cancel a service you have with us but would inform you of this in writing.

Data security

We have implemented appropriate security measures to prevent your personal data from being accidentally lost, altered, or disclosed. This includes performing regular data back-ups and only using systems that utilise robust security measures.

In addition, we limit access to your personal data to only those employees, agents, contractors and other third parties you have a business requirement to access it. They will only process your personal data on our instruction and are subject to a duty of confidentiality.

Your rights

In accordance with the Data Protection Act (DPA) 2018, you have the following rights in relation to the personally identifying information we may hold on you, namely:

to access your information and to receive information about its use

to have your information corrected and/or completed

to have your information deleted

to restrict the use of your information

to receive your information in a portable format

to object to the use of your information

to withdraw your consent to the use of your information

not to have significant decisions made about you based solely on automated processing of your information, including profiling;

to complain to a supervisory authority.

Your right to complain

As a data subject, if you believe your data has been mismanaged, you have the right to make a complaint at any time to the UK supervisory authority for data protection, the Information Commissioner’s Office (ico.org.uk). We would, however, appreciate the opportunity to deal with any concerns prior to this, so please contact us in the first instance.

We are registered with the ICO, registration number ZA845319.

Third-party links

This website includes links to third-party websites and applications. Clicking on those links may allow third parties to collect or share your data; we do not control these third-party websites and are not responsible for their privacy controls.

GLOSSARY

Contractual fulfilments

Acts that are required in order to fulfil contractual obligations, for example in the provision of work for our customers.

Data Subject

An individual whose PII is collected.

Data Controller

A person or entity which collected and/or processes data; by storing your details, we act as data controller.

External third parties

External third parties that may have access to your data in the scope of the services provided by us, for example our wealth managers and our website hosting provider.

Legitimate Interest

Our interest in conducting and managing our business to enable us to give you the best service and most secure experience. We ensure to consider and balance any potential impact on you (both positive and negative) and your rights before we process your personal data for our legitimate interests.

We do not use your PII for activities where our interests are overridden by the impact on you (unless permitted by law).

Personally identifiable (PII) information

Any information that may be used to identify an individual, directly, or indirectly; for example, an IP address, bank details, or surname.

This does not include data where the identity has been removed (anonymous data).

Special Categories of Data

Special categories of data are classified as any of the following:

  1. personal data revealing racial or ethnic origin;
  2. personal data revealing political opinions;
  3. personal data revealing religious or philosophical beliefs;
  4. personal data revealing trade union membership;
  5. genetic data;
  6. biometric data (where used for identification purposes);
  7. data concerning health;
  8. data concerning a person’s sex life or sexual orientation.

Special categories of data are considered sensitive and thus require further protection than other PII.

Subject Access Request

Subject Access Request (SAR) is the formal term for a personal information enquiry made by a Data Subject to a Data Controller.

This could be a request to find out what PII we hold on you, how it is being used, who it is being shared with, and so forth.

Website cookies

Cookies are small files that are stored on your device by your browser when you visit a website; necessary cookies help make a website useable by enabling basic functions such as page navigation, and the website cannot function correctly without them.

Statistics cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.

Cookies collection can be disabled within your browser settings.