Dodl by AJ Bell terms and conditions
Version 0.4 (March 2023)
- Introduction to these Terms
- General terms
- Becoming a customer
- The Dodl app and access to your Account
- Payments and Transfers into your Account
- Your Cash and investments
- Charges and deductions
- Transfers Out
- Your personal information and how we communicate with you
- Our responsibilities and your responsibilities
- Your right to cancel
- Termination, suspension and closing your Account
- Changes to these Terms
- Complaints and compensation
- Dealing & Order execution terms
- Placing Orders
- Monthly Investments
- Investment income and Corporate Actions
- Product-specific terms
- Additional Pension terms
- Additional Investment ISA and Lifetime ISA terms
- Additional General investment account terms
Introduction to these Terms
These Terms apply to all Products and Services that Dodl provides to you.
Dodl is part of the AJ Bell group. The Products and Services are provided by the following AJ Bell companies:
- AJ Bell Management Limited, which is authorised and regulated by the FCA with registration number 211468, acts as administrator of the Scheme and provides administration Services in relation to your Pension;
- AJ Bell Securities Limited, which is authorised and regulated by the FCA with registration number 155593, and provides the dealing and custody services for your investments and acts as ISA Manager for the Investment ISA and Lifetime ISA;
- Sippdeal Trustees Limited, which acts as the trustee of the Dodl pension Scheme;
- Lawshare Nominees Limited, which acts as the Nominee for your investments; and
- AJ Bell Asset Management Limited, which is authorised and regulated by the FCA with registration number 774048 and acts as the investment manager for the AJ Bell funds included in the Investment Range.
The registered office of all of the above AJ Bell companies is: 4 Exchange Quay, Salford Quays, Manchester M5 3EE.
Your relationship with Dodl
These Terms form part of the contract between you and us and so it is important that you read them carefully and in full before completing an Application to open an Account with Dodl.
Once we have confirmed that your Application has been approved, you will have a contract with us. The terms of the contract are referred to collectively as the Agreement.
The Products and Services are provided to you on an execution only basis. This means that we don’t provide financial, investment or tax advice and we don’t assess the suitability or appropriateness for you of the Accounts that you choose, the investments that you choose for your Accounts or the other services we provide to you.
You should only use our service if you are comfortable making your own investment decisions, you understand the associated risks and their potential impact on your personal circumstances and financial position.
If you are unsure about the suitability or appropriateness of any of the Products or Services we provide for you, or if you are unsure about any of the types of investment activities described in these Terms, then we recommend that you speak with an authorised financial adviser. If you need help in choosing a financial adviser, moneyhelper.co.uk provides information on how to find one.
Good to know
These Terms are made up of 5 sections as follows: Introduction to these Terms, General terms, Dealing & Order execution terms, Product-specific terms and Glossary. In addition to the General Terms, which apply to all Products, you will need to refer to the Product-specific terms for additional terms that apply to your chosen Product.
There are a number of words and phrases which have specific meaning when used in these Terms. They will be underlined when first used and you can find their definition by clicking on them or by scrolling to the Glossary at the end of these Terms.
You should read clause 12, for details on how we can make changes to these Terms.
If you do not understand anything in these Terms, you should seek independent professional advice.
If you want further information or have a question about the Products and Services feel free to contact the Dodl team via email at firstname.lastname@example.org. We will try our best to help you but we are not able to provide financial, investment, tax or legal advice.
Becoming a customer
- The terms of your Agreement with us are set out in these Terms, each Application, the Charges and:
- for your Pension, the Scheme Rules and Pension Key Features. The Scheme Rules will prevail in the event of any conflict;
- for all other Account types, the Key Features. These Terms will prevail in the event of any conflict.
- You are only allowed one account per type of Account offered by Dodl.
- You can only open an Account if you are:
- an individual aged 18 or over, and
- under the age of 40 for a Lifetime ISA (unless you're transferring an existing lifetime ISA to Dodl), or
- under the age of 75 for a Pension;
- solely a UK resident for tax purposes, or, in the case of an Investment ISA or Lifetime ISA only, you are a UK resident, Crown employee, or your spouse or civil partner is a Crown employee; and
- solely a UK citizen.
- an individual aged 18 or over, and
- You must inform us immediately if your circumstances change and you no longer meet the requirements in clause 1.3. In such circumstances, we may require that you close your Accounts.
- Once your Application has been approved your Agreement with us will start and you can start using your Account. We may decline your Application entirely at our discretion.
- We will categorise you as a retail customer for the purposes of the FCA rules. This categorisation provides you with the highest level of available protection.
- You are responsible for dealing with your tax affairs, including completing and submitting all tax returns relevant to your personal circumstances and, if applicable, paying any tax liability that arises. You are also responsible for checking that any information we provide you with about your investments, which is used for the purposes of completing any tax returns (e.g. details of dividend receipts and capital gains), is accurate and complete. We are not responsible for any personal tax liability you may have in relation to your Account.
- The terms of your Agreement with us are set out in these Terms, each Application, the Charges and:
The Dodl app and access to your Account
- We will provide you with access to your Account via the Dodl app. When you open an Account, you will be asked to set up access to your Account, via the app using your Login Information.
- It is your responsibility to keep your Login Information safe and confidential and contact us immediately if your Login Information has been compromised or if someone may have unauthorised access to your Accounts.
- You can appoint as a Representative any person who is your attorney under a valid lasting power or attorney or your deputy by the Court of Protection. To set this up, please contact the Dodl team by email at email@example.com who will provide you with more information on the process and send you the relevant forms to complete.
- Once appointed all references to “you” and “your” in these Terms, will equally apply to your Representative. Your Representative will have access to all of your Accounts, including any you open at a later date. This means that your Representative will be able to buy and sell investments and give us instructions regarding Corporate Actions and we will rely on any instruction your Representative gives us, including (without limitation) any Order they place, even if those instructions conflict with your wishes. In the case of a Representative who is appointed by virtue of a valid lasting power of attorney which is effective on registration, you may cancel the appointment of your Representative by sending us a valid deed of revocation but the appointment will continue until we confirm to you that we have actioned any notice you give us to cancel the appointment of your Representative.
Payments and Transfers into your Account
- Payments and Transfers in cash can only be made into your Account in pounds sterling and as provided in the relevant Key Features.
- You can only make Payments from a bank account held in your name (either solely or jointly).
- It may be up to 5 Business Days before Payments or Transfers made into your Account in cash are Cleared. If Cash is made available for your use before it has Cleared but it then does not clear, we will adjust the Cash balance in your Account accordingly.
- If you or a third party claim that a Payment has been made to your Account in error or if we are unable to satisfactorily verify the source of any Payment we receive, we reserve the right to only refund the Payment to the same bank account which the Payment came from once it has Cleared.
- We may decline any Payment or Transfer to your Account entirely at our discretion but would normally only do this if we are unable to verify the source of the Payment or Transfer.
- You are solely responsible for initiating any Transfer to your Account by providing us with your Transfer instruction and any other paperwork required by us to begin the transfer process.
- Where permitted under these Terms, you can only Transfer investments into your Account which are included in the Investment Range at the time the Transfer completes.
- You will not be able to deal in any of the investments Transferred to your Account until we have received confirmation that they are registered in the name of our Nominee or authorised Third Party Custodian.
- We reserve the right to reclaim without your authority part, or all, of any Payment or Transfer made in error to or from your Account.
- We will determine requests for the return of any Payments entirely at our discretion, but we will normally only refuse a request if we believe it might breach a Regulatory Requirement e.g. a breach of HMRC rules. Any amount refunded may be less than the amount you paid in because of our Charges, the performance of your investments or tax, charges or interest applied by HMRC.
Your Cash and investments
- All Cash can only be held in pounds sterling.
- We will hold Cash in one or more pooled bank accounts with one or more banks. A pooled bank account is a general bank account in our name in which we hold customers’ Cash but the bank acknowledges that we are holding the Cash for customers and the bank agrees that it does not have any right or recourse to any Cash in the event that we owe any money to the bank of any third party. As a result, your Cash will always be held separately from cash belonging to us or any of our Group companies and:
- except as provided for in clause 4.2(b), all Cash is held by AJ Bell Securities Limited as client money (as defined by the FCA), which means that it is protected by the FCA’s client money rules and guidance.
- Payments and cash Transfers into your Pension will be held by Sippdeal Trustees Limited until the Cash is allocated to your Pension Account. Once allocated to your Pension Account, Cash may be held with either Sippdeal Trustees Limited or (in whole or in part) by another Group company which provides you with the related Services. Similarly, any of your Pension Cash which is not invested (e.g. income or proceeds from investments) may be held by Sippdeal Trustees Limited or by another Group company which provides you with the related Services. When your Pension Cash is required for investment purposes, it will be transferred to AJ Bell Securities Limited and held as client money until the transaction is complete. If at any time your Cash is no longer required for investment purposes, it may be transferred back to Sippdeal Trustees Limited. Where your Cash is held by Sippdeal Trustees Limited, it is protected by being held on trust in accordance with the Scheme Rules, and not as client money.
- To the extent permitted by FCA Rules, we may hold your Cash with a bank on a ﬁxed term deposit or in a notice account. Any Cash held as client money may be placed on deposit, for a fixed term which does not exceed 95 days, or in a notice account where the notice does not exceed 95 days. We do this so we are able to place deposits with a wider range of banks in order to reduce your exposure to the risk of a bank failure and to obtain better interest rates on the deposits, which helps us to keep our Charges low.
- Placing Cash on a fixed term deposit or in a notice account means that Cash cannot be withdrawn until the end of the relevant fixed term or notice period, potentially delaying access to this Cash in the event of significantly increased demand for withdrawals. However, we manage all cash we hold to ensure there is enough available to satisfy customer demand, which means that your ability to withdraw Cash from your Account should not be affected. In the event of our or a bank’s failure, it may also mean that Cash is not immediately available for distribution.
- We will not be responsible for the default or failure of a Bank where we hold your Cash. In the event of a bank’s failure, your claim will be for a share of the cash held in all pooled bank accounts at that bank. You may also be able to claim against the FSCS.
- Any interest will be paid on your Cash at the rate given on the Charges section of the Website, and we will (and you authorise us to) deduct any tax or other charges HMRC may impose on interest payments.
- Your investments will be held in a Pooled Investment Account in the name of the Nominee or by an approved Third Party Custodian. You should note that:
- in the event of the failure of the Nominee or Third Party Custodian, your claim will be for a share of the investments pooled;
- where your investments are held in overseas jurisdictions, it may not be possible under national law for them to be separately identifiable from investments belonging to the custodian which may increase your risk; and
- where it is necessary for accounts containing your investments to be held outside the European Economic Area, the law in the jurisdiction in which they are held may mean that your rights in respect of those investments will be different.
- We will be responsible for the acts and omissions of the Nominee to the same extent that we are responsible for our own acts or omissions, but will not (in the absence of fraud or wilful default) be responsible for the acts and omissions of any sub-nominee, custodian, sub-custodian, securities depository, intermediate broker or agent, clearing or settlement system or participant in such a system.
- We will provide you with (i) quarterly statements, setting out certain information about the investments held in your Account, and (ii) annual statements, setting out certain details of the costs and charges associated with the investments held in your Account.
Charges and deductions
- You agree to pay us and authorise us to deduct Charges from your Account when they are due.
- All Charges and amounts due under this Agreement are exclusive of VAT, which will be payable by you in addition at the then current rate (unless stated otherwise).
- Investments you buy may have their own initial and ongoing charges. We are not responsible for informing you of these charges and we recommend that you obtain information on all charges for your investments before you buy them.
- Taxes and levies may also be payable when certain investments are purchased that are not imposed by or payable via us. We will, where it is reasonably practicable to do so, make details of these additional charges taxes and levies available to you before you place an Order for such investments, but it is your responsibility to check whether they apply and, if they do, the amount that you are required to pay. We will deduct from your Account all taxes and levies, including overseas transaction taxes, which apply to such investments and we will account to the appropriate authorities directly or through a third party, and all applicable charges will be passed onto you.
- We reserve the right to make an additional charge of up to £30 in any 12 month period if we are required to pay a levy, or interim levy, under the FSCS or by the FCA. Where this applies, we will deduct the amount of the additional charge proportionately across all our customer accounts in a way we consider is fair and reasonable and we will explain the calculation of the charge to you. We will give you 30 days’ notice of the amount of the additional charge before it is deducted from your Account. Should any levy be refunded to us by the FSCS or the FCA, a proportionate amount of the refund will be credited to your Account on the same basis as the charge was initially calculated.
- We may vary the Charges for any of the reasons given in clause 12 in connection with any changes to these Terms.
- If we fail to deduct all or part of any Charges from your Account on the date they are due, we may deduct such Charges at a later date and we will not be prevented from exercising any available remedy in relation to the Charges that are due to us.
- We may deduct Cash from your Account and/or sell any of your investments to realise Cash if:
- we are owed money from your Account (including any Charges which we have been unable, or have omitted, to deduct previously) but we will give you at least 20 Business Days’ notice to credit your Account;
- your Account has been credited in error but will not deduct any Cash without first giving you at least 2 Business Days’ notice to credit your Account, and we will not sell your investments without giving you at least a further 10 Business Days’ notice to credit your Account;
- the Cash balance in your Account has been in debit for more than 10 Business Days, but we will not sell your investments without giving you at least 5 Business Days’ notice to credit your Account;
- we have not been able to satisfactorily verify the source of any Payment which has been credited to your Account but we will not sell your investments without giving you at least 5 Business Days’ notice to provide the evidence needed to satisfactorily verify the source of the Payment; or
- HMRC imposes a tax or other charge, fine or penalty on us which relates to your Account, for example, a Government Withdrawal Charge, but we will not sell your investments without giving you at least 5 Business Days’ notice to provide evidence that the related charge should not apply to your Account.
- If we are unable to realise enough Cash to cover any of the circumstances given in clause 5.8 by selling your investments, you will be personally liable to us for the shortfall.
- We may deduct from your Account any legal or other fees we incur or become liable for as a result of your failure to pay any other money due in respect of your Account. If there is not sufficient Cash in your Account, you will be liable to us personally for any such fees.
- We may charge interest of 2% per year above the Bank of England base rate (or 2% where the base rate is below zero) on any sums due to us and unpaid with effect from 10 Business Days after the payment was due, which we are entitled to deduct from your Account.
- Where we are owed money, we may deduct some or all of this from any of your Accounts to reduce the amount that is owed to us. Where we owe you money and you owe us money under these Terms, we may deduct the amounts we owe you from the amounts you owe us. This is known as set-off.
- We and our Group companies are entitled to receive and retain the difference between the interest a Bank pays to us or our Group companies on the total amount of the cash held by us with them and the interest we pay to you, and the commission on carrying out a foreign exchange transaction.
- The Charges will continue to apply after your death until your Account is closed and the Agreement with us ends.
- Should you wish to withdraw Cash from your General investment account, Investment ISA or Lifetime ISA, you must instruct us to do so in accordance with these Terms and through the app.
- Subject to these Terms, we will process your withdrawal within 20 Business Days of receiving your instruction.
- Except as set out in clause 6.5, withdrawals can only be made to your linked bank account, which must be UK based and held in your name (either solely or jointly). For security purposes, we will only pay withdrawals to your linked bank account and only once we have verified its authenticity to our satisfaction.
- You must maintain a linked bank account at all times. You can change your linked bank account at any time but for security purposes we will only make payments to the new linked bank account once we have verified its authenticity to our satisfaction. This may result in payments or withdrawals being delayed and we accept no responsibility for any delays.
- We will not ordinarily accept payments to or from a linked bank account which is not in your name. Current exceptions are in the case of a Lifetime ISA for a payment to, and receipts from, your conveyancer in connection with the purchase of your first house in accordance with the ISA Regulations.
- We will usually only delay or refuse to make a payment to you if we are unable to satisfactorily verify details of the bank account to which payment is due to be made or if we reasonably believe that the payment has not been validly authorised or may involve the fraudulent use of your account. Where we consider that we are legally permitted to do so, and it will not compromise our security procedures, we will let you know the reason for a delay or refusal of payment.
- If Cash is credited to your Account by:
- debit card and then withdrawn (in whole or on part) within 60 Business Days, we reserve the right to make the payment by way of a refund of the debit card payment; or
- direct debit and then withdrawn (in whole or on part) within 120 Business Days, we reserve the right to make the payment to the account from which they were received.
- The withdrawal of Cash from your Investment ISA or Lifetime ISA into your bank account will mean that it is no longer held in a tax-advantaged account. A withdrawal from your Lifetime ISA may also be subject to a Government Withdrawal Charge under the ISA Regulations. Please refer to the Lifetime ISA Key Features for further details of the circumstances in which this charge will apply. We will apply a Government Withdrawal Charge if you or your solicitor have not provided us with the information and documents we need in order to satisfy HMRC that the charge is not payable.
- Should you wish to Transfer Out, you must instruct us to do so in accordance with these Terms.
- If the Transfer Out is:
- of investments which are not to be converted into Cash, we will arrange the transfer out of your investments to your new provider, subject to the new provider being able to hold your investments. If they are not able to do so, we will contact you to obtain further instructions, or
- in Cash, you must arrange to sell your investments with us and we will then transfer the Cash value to your new provider;
- not in relation to a Pension, we will make the transfer out within 20 Business Days of receiving your instruction. If you have instructed a Transfer Out of an investment that has been suspended, we will transfer it within 7 Business Days of the end of the suspension, or longer should you require this.
- If you instruct a Transfer Out of your Pension, we can:
- only make payments directly to the new Pension Provider;
- transfer existing investments to the new Pension Provider without converting them into Cash, providing the new Pension Provider (or their stockbroker) can accept the investments and with their prior written authority.
- If you instruct a Transfer Out of an Investment ISA or Lifetime ISA:
- you must Transfer Out the full value of any current Tax Year Payments you have made to (or Transferred into) the Account but you can choose to Transfer Out the value of previous Tax Years’ payments in full or in part;
- we will manage the Transfer Out in accordance with the ISA Regulations. A transfer to another stocks and shares ISA or another lifetime ISA will include the transfer of the rights and obligations of each party (you and us) to it; and
- if you have instructed a Transfer Out of investments, we will provide you with details of the market value of the investments held in your Investment ISA or Lifetime ISA on the date your Transfer Out completes.
- If you instruct the full Transfer Out of your Investment ISA or Lifetime ISA to another ISA Manager, we will close your Investment ISA or Lifetime ISA and will not accept any further orders in relation to the Account(s).
Your personal information and how we communicate with you
- The Terms, our communications with you and other documents in relation to your Account will always be in English. We will primarily communicate with you via the app or by email but we may communicate with you at any time via any electronic means and all communications will take effect from the time that they are sent to you.
- Dodl is app-only, which means that we will contact you primarily via the app. In some instances we may also use other electronic methods of communication, such as email. It is therefore your responsibility to check the app and your email regularly for communications from us. We will not be responsible for any delays, except if the delay is caused by our wilful default, fraud or negligence.
- It is your responsibility to ensure we have the correct contact details for you and you must let us know if your contact information changes. You are required to have a valid mobile phone number and email address in order to use our Products and Services.
- We recommend that you contact us with any confidential or urgent information through the app, rather than by email.
- Although we accept and are entitled to rely on any instructions received from you in relation to the administration of your Account, in some circumstances we may require original correspondence to be sent to us in connection with any instructions. You are responsible for taking reasonable steps to ensure instructions to us are sent securely.
- You acknowledge that we may record any electronic communications that we have with you (including in the app, via email or telephone) for quality assurance, training and regulatory purposes. These records will belong to us and we will store them for the duration of your relationship with us. After that, we will store your personal data for as long as it is legal, appropriate and necessary to do so.
Our responsibilities and your responsibilities
Our responsibilities to you
- As we endeavour to provide a high standard of service to you at a reasonable cost, we limit our legal responsibility to you on the basis set out in these Terms. The provisions set out in this clause 9 apply to us and our Group companies, including our respective employees and agents.
- We will provide the Products and Services with reasonable skill and care but because we do not give advice, we cannot guarantee that they will meet your needs. Please always carry out your own research and seek the appropriate financial advice where needed.
- Nothing in these Terms will exclude or limit our legal responsibility to you for anything that we cannot legally exclude or limit.
- We will only be legally responsible to you under these Terms for any Loss if and to the extent that it is caused by our negligence, fraud or wilful default.
- We will not be responsible to you for any:
- loss that is not a natural and usual consequence of the event in question and was not likely to arise from a special circumstance which we knew of, or should have known of, when that event took place.
- loss of income, profits, the ability to invest or disinvest or wasted expenditure;
- loss arising from the insolvency, default, fraud, wilful default or negligence of any bank or Third Party Custodian which holds your Cash or investments;
- loss arising from your breach of these Terms or any other of your acts or omissions, including your error, delay, unclear or incomplete instructions or your failure to comply with our instructions within the specified time limits;
- loss arising from delays in the Services, including (without limitation) executing your instructions and Orders, processing Payments, Transfers, Transfers Out or withdrawals;
- market or trading loss, other than as provided for in clause 9.6 below.
- loss arising from delays in performing, or any failure to perform, any of our obligations under the Agreement if the delay or failure results from events beyond our reasonable control. This includes (i) any breakdown, failure or malfunction of any networks or systems, equipment or software used by us or of any clearing system used in connection with the Services, (ii) the insolvency or default of any participant in such a clearing system or the failure by any settlement bank to make, receive or debit any payment or cyberattacks or (iii) any malicious act of any third party.
- Our total responsibility to you for any market or trading loss (including in the case of adverse price movements, any claim for loss of the ability or delay in disinvestment, or in the case of favourable price movements, the loss of the opportunity to or delay in investment), is limited to the greater of:
- £500 and the total amount of the Charges you paid us in the 12 months’ immediately preceding the event which gave rise to your claim for market or trading loss (or, if your Account has been open for less than 12 months, such amount as you would have paid on a pro rata basis); and
- interest on the principal amount in respect of which the loss occurs for the duration of your claim, which is to be calculated as follows:
- for claims concerning the maladministration of your Pension, 2% per year above the Bank of England base rate (or such other rate as the Pension Ombudsman is likely to apply to awards); or
- for any other type of claim, 8% per year (or such other rate as the Financial Services Ombudsman is likely to apply to awards).
- When entering into the Agreement in relation to each Account you are contracting directly and separately with each of AJ Bell Management Limited and AJ Bell Securities Limited for the Services that they each provide you with in relation to the relevant Account in accordance with these Terms. Subject to these Terms, AJ Bell Management Limited is responsible for Sippdeal Trustees Limited and AJ Bell Securities Limited is responsible for the Nominee and AJ Bell Asset Management Limited.
Your responsibilities to us
- You agree that you will use your Account and our Products and Services at all times in accordance with Regulatory Requirements. In particular, you agree not to engage in any market abuse or use your Account or provide any instructions in connection with any attempt to launder money or commit fraud.
- Dodl is an investment service, which means that it is intended for longer term investments. As a result, Dodl is not appropriate for short-term or excessive trading of investments. We monitor trading levels and may refuse at our discretion to accept Orders based on your trading history or if we consider your Order may be disruptive to other customers or the market.
- You are responsible to us, and agree to reimburse us, for any Loss of any kind that we suffer or incur as a direct result of supplying you with the Products and Services except to the extent that the Loss is caused by our negligence, fraud or wilful default.
- The provisions of this clause 9 will continue to apply even if we stop supplying you with the Services.
Your right to cancel
- You may cancel:
- your Application for a Pension or a Transfer to your Pension;
- your Application for an Investment ISA or Lifetime ISA or a Transfer to your Investment ISA or Lifetime ISA;
- your Application for a General investment account,
by contacting us and quoting your name, the relevant account type and specifying which cancellation right you want to exercise.
You must do this within 30 days, of receiving confirmation from us that (as applicable) your Application is approved and your relevant Account is open, or that the Transfer for your Account has been received, otherwise your cancellation rights will expire.
- If you place a buy Order within the cancellation period for your Pension, you will waive your cancellation rights, which means that you are no longer able to exercise any cancellation rights in relation to your Pension.
- If, in accordance with these Terms, you successfully cancel:
- your Pension Application, we will repay any Payments we have received to the person or third party who made the original Payment.
- your Application for an Investment ISA, Lifetime ISA, or General investment account we will return any Cash we hold to you and any investments can either be sold or transferred into your name or to another account held in your name. If investments are sold you may get back less than the amount you originally invested due to the effect of market movements in price and associated costs. Where this happens, you are solely responsible for any Loss.
- a Transfer to your Investment ISA, Lifetime ISA or Pension, we will return all Cash and/or investments we receive to the Transferring ISA Manager or Pension Provider (as applicable). If they will not accept their return or will only accept on terms different from those which applied prior to the transfer, we will contact you to request further instructions on how to proceed. If you have not told us within the cancellation period, we reserve the right to take reasonable administration charges from (as applicable) your investment ISA, Lifetime ISA or Pension until such time as we can make the transfer to another ISA Manager or Pension Provider.
- In the case of your Investment ISA, Lifetime ISA and General investment account, if you successfully exercise your cancellation rights, you will be responsible for all costs associated with buying and selling investments, but will not, except as provided in clause 10.3(c), be responsible to pay any other Charges.
- If you successfully cancel your Application for a Lifetime ISA and you instruct us to pay Cash to an account that is not a lifetime ISA held in your name, the payment may be subject to a government withdrawal charge.
- You may cancel:
Termination, suspension and closing your Account
- You may close your Account by instructing a Transfer Out of your investments in accordance with clause 7 or making a withdrawal of Cash in accordance with clause 6.
- In relation to your Pension, we or you may close your Account and end your membership of the Scheme in accordance with the Scheme Rules and HMRC requirements.
- We may, at our discretion, terminate or suspend your Account on giving you at least 20 Business Days’ notice, except that we may do so immediately and without advance notice if we reasonably consider that you:
- have materially breached these Terms;
- have persistently abused the Services; or
- are using or are allowing your Account to be used illegally or in connection with any criminal activity.
- We reserve the right in the event of termination or suspension of your Account to sell your investments and hold Cash in your Account until you give us instructions to Transfer Out or withdraw (as applicable) the Cash from your Account.
- Termination will not prevent the completion of transactions which have already started or affect any existing rights or any outstanding obligations.
- If we consider that your Account is inactive and there are no investments or Cash held in the Account (or there is a minimal Cash balance left in the Account), we reserve the right to close your Account and send you any remaining Cash balance after the deduction of any amounts that are due to us, any Government withdrawal charge and any tax due to HMRC. We will always give you at least 5 Business Days’ notice before we do so.
- These Terms will continue to apply after your death until your Account is closed and the Agreement with us ends.
- If we are notified of your death, we will only permit dealing and accept instructions in relation to your Account if the person giving instructions can demonstrate to our satisfaction that thy have the legal power to do so.
Changes to these Terms
- We may change these Terms, including the Charges, at any time where we have a valid reason to do so. Valid reasons for changing these Terms include (but are not limited to) the following:
- to take account of:
- changes in Regulatory Requirements or the interpretation of Regulatory Requirements;
- FCA or other industry guidance, codes of practice, good market practice or the decisions of an ombudsman;
- in a proportionate way, changes in the costs and expenses we incur in connection with the provision of the Services;
- changes in technology, systems and methods of operation, including the introduction of new systems or services;
- the impact of changes in the way the Services are used on the fair allocation of costs and expenses between customers;
- to reflect any changes to terms agreed between us and any third parties, or any changes to the costs that we or third parties incur, which are relevant to your Account or our provision of the Services;
- material changes in market practice or conditions;
- changes in taxes, inflation or interest rates;
- changes in the banking arrangements for the Services;
- to make these Terms fairer, clearer or easier to understand; and
- to correct errors.
- to take account of:
- Where a change to these Terms is materially detrimental to you, we will ordinarily give you a minimum 30 days’ notice of the proposed changes but we may need to change these Terms with shorter notice e.g. if there is a change to Regulatory Requirements which we have to action immediately. Any changes will come into force at the end of the notice period.
- If we reasonably consider that a change to these Terms is not materially detrimental to you, we are not required to give you any notice before we make the change, but we will tell you about it within 30 days of the change being made.
- We may change these Terms, including the Charges, at any time where we have a valid reason to do so. Valid reasons for changing these Terms include (but are not limited to) the following:
Complaints and compensation
- If you feel you need to complain about the service you have received from Dodl, please contact the Dodl team in the app or at firstname.lastname@example.org. For further details on our complaints process, please visit our help centre. If you are not satisfied with our response to your complaint, you may be able to refer your complaint to the Financial Ombudsman Service, or in the case of your Pension, the Pensions Ombudsman. For further details, visit the Financial Ombudsman Service website at financial-ombudsman.org.uk or the Pension Ombudsman website at pensions-ombudsman.org.uk.
- The Products are covered by the FSCS. If you want any further information about the FSCS compensation arrangements, contact the Dodl team at email@example.com or you can visit the FSCS website at fscs.org.uk.
- This Agreement is governed and construed in accordance with English law. You and us each submit to exclusive jurisdiction of the English courts, except that if you are resident in Scotland or Northern Ireland you may also bring proceedings in Scotland or Northern Ireland, as applicable.
- If any of the individual terms included in these Terms is held by any Competent Authority to be unenforceable or invalid in whole or in part, the validity of the other terms and the remainder of the individual term in question shall not be affected by such invalidity.
- If We delay or fail to exercise any of our rights or remedies under this Agreement, it will not amount to us waiving our right to do so at a later time.
- We may engage third party service providers or our Group companies to provide any of the Services. We will exercise reasonable skill and care when selecting, monitoring and periodically reviewing any Third Party Service Providers we engage but will not otherwise be responsible for their default or other acts or omissions.
- The Products and Services are subject to Regulatory Requirements in the UK and are therefore marketed and targeted at consumers in the UK.
Dealing & Order execution terms
- Our Order Execution Policy sets out how we manage the execution of your orders in accordance with the FCA Rules and can be found on the Dodl website. If we make significant changes to the Order execution policy which affect you, we will inform you of these changes. In placing an Order, you consent to the Order Execution Policy, including any changes you have been notified of.
- You may only place an Order for an investment which is included in the Investment Range. If we remove an investment from the Investment Range and you have a pending Order for it, your Order will usually be processed and executed except in extreme circumstances e.g. the suspension of a fund in the Investment Range.
- We may alter the Investment Range at any time without notice and may require you to sell (or Transfer Out, at our discretion and if the related Regulatory Requirements permit) any investments removed from it. We will only require you to do this if we can no longer allow the investment to be held for any reason e.g. to satisfy Regulatory Requirements or for our own administrative reasons, e.g. the administration of the investment is too onerous or costly, taking into account the interests of all of our customers. If this is the case, we will notify you and give you 20 Business Days to sell (or Transfer Out, where applicable) the investment, after which we will sell the investment on your behalf.
- You can only place, amend and cancel Orders via the app and we will treat all Orders placed via the app as genuine. Orders cannot be placed via the Website, by telephone, email or in-app chat.
- You’ll need to complete and sign a W-8BEN form before you can place Orders for US shares. You only don’t need to do this for Orders relating to US shares within your Pension. We provide a withholding tax service for US shares, which involves us withholding or deducting tax and other levies from your income and paying amounts to the relevant tax authority.
- You are responsible for the accuracy of your Orders.
- When an Order is placed we act as your agent which means you are entering into a contract for the sale or purchase of the investment directly with the buyer or seller and not with us. Any price you are given or cost you are advised of will be indicative. We do not guarantee the accuracy of the price or the cost given on the app or otherwise.
- When you place an Order for an investment it will be combined and queued with orders from other Dodl customers for that investment, and executed together in a bulk transaction once a day. This means there will be a delay between the time you place your Order and when it is executed and the price your Order is executed at, which is determined at the time the bulk transaction is placed, is very likely to differ from the price at the time you placed your Order. We may also have to execute your Order in tranches and provide an average price per order. If you place an Order after the cut off time as shown in the app it will be executed with the bulk transaction for the investment on the next Business Day.
- You can edit or cancel Orders you place for investments up to the cut off time each day as shown in the app, when you place the Order. We may change the cut off time at our discretion. The specific details relating to editing or cancelling Monthly Investments can be found in clause 16.6.
- Any value of any Orders for shares must be enough to purchase at least one share in the company, otherwise we will not be able to execute your Order.
- We will only be able to execute your Order if you have sufficient Available Cash to satisfy your Order and all related charges. When checking the amount of Available Cash for your Order, you should consider any Charges and other payments that may be taken from your Account before the execution of your Order.
- We are required to report certain information about you and the Orders you place to the FCA. We will ask you for that information before we execute your Order and may not be able to accept your Order until you have supplied it. We will not be responsible for any related delay in the placing of your Order.
- Details of our Charges, the investment provider’s charges and any other costs of making the investment will be available to view before you place your Order. You will also be able to see the cumulative effect of these charges and costs on the estimated returns on the investment. Make sure you understand this information before placing your Order. Estimated returns are provided for illustrative purposes only and based on data obtained from our third party suppliers, who do not accept legal responsibility for the accuracy of the data they provide. Therefore, we are unable to accept any legal responsibility for the accuracy of the data they provide, except where any inaccuracy is directly caused by our gross negligence, fraud or wilful default in relation to any matter that is within our reasonable control.
- For a buy Order, once the Order has been placed we will show it as a pending transaction in your Account and earmark the amount of Cash required to complete the purchase in your Account so that this cannot be used for any other purpose. We will only deduct the amount of Cash required to complete the Order from your Account and add details of the purchase to your Account once the Order has been executed.
- For a sell Order, once the Order has been placed we will show it as a pending transaction in your Account and earmark the investment being sold in your Account so that it cannot be dealt with in any other way. We will only remove the investment being sold from your Account and add the amount of the sale proceeds to your Account once the Order has been executed.
- As Cash in your Account is only held in pounds sterling, if we have to execute an Order or we receive a dividend, or other Corporate Action payment, in relation to an investment in another currency, we will carry out a foreign exchange transaction to convert the payment to or from pounds sterling, as required. Details of the related currency conversion charges can be found in the Charges section of the Website.
- We will notify you if we are unable to execute your Order for any reason, including (without limitation) suspension of dealing in extreme market conditions.
- We reserve the right for any reason to refuse to:
- execute an Order but will act reasonably in so doing;
- act on any instruction you give us on an investment, which could result in a breach of a Regulatory Requirements, or, if the instruction has already been acted upon, to take any action which we consider appropriate to reverse your instruction, and
in each case we will try to notify you of the reason.
- If we are unable to, or refuse to, act on your Order or instructions for the reasons explained in clause 15.16 and clause 15.17, we will not be liable for any Loss you incur.
- If you instruct us to Transfer Out, we will not accept any further Orders and will not execute any further Monthly Investments in relation to your Account.
- Our record of the time of receipt and execution of an Order will be conclusive unless obviously incorrect.
- You must notify us if you:
- do not receive confirmation that we have executed your Order and/or carried it out within 3 Business Days of you placing the Order; or
- receive confirmation of an Order, which you did not place or which has not been completed to your instructions.
- Certain circumstances may give rise to a conflict between our and your interests or between you and another customer. To ensure that we take these into account when we execute your Order, we have implemented a Conflicts Policy, which explains how conflicts can arise and the arrangements we have for managing them.
- You can set up a Monthly Investment for eligible investments. We may change the range of eligible investments at any time and you can find out which investments are eligible on the app.
- We will use reasonable endeavours to process your Monthly Investments on the Investment Day but we cannot guarantee that they will be placed on the Investment Day.
- When you set up a Monthly Investment, you must specify:
- the investment you wish to invest in; and
- the amount you wish to invest each month.
- The value of any Monthly Investments for shares must be enough to purchase at least one share each month, otherwise your Monthly Investment will not be executed in that month. You can only invest in a whole number of shares so the Monthly Investment amount will be used to buy as many shares as possible each month, with any residual Cash being retained in your Account.
- We will rely on your Monthly Investment details as they appear on the app. It is your responsibility to ensure that these details are correct.
- You can cancel or edit a Monthly Investment any time before midnight on the day before the Investment Day. If you try to cancel or amend a Monthly Investment on an Investment Day, the cancellation or amendment will not take effect until the next Investment Day.
- Any Monthly Investment you have for an investment which is no longer included in the Investment Range will be cancelled.
- If you have instructed more than one Monthly Investment, we will only be able to execute your Monthly Investment if you have enough Available Cash in your Account to cover the cost of each Monthly Investment when processed. If you do not have enough Available Cash for all of your Monthly Investments then none of your Monthly Investments will be executed. We will notify you if your Monthly Investments are not executed for this reason.
- Monthly Investments will be combined and queued with monthly investment orders from other Dodl customers for that investment. The combined monthly investment orders are queued and executed sequentially over a period of time in the order in which they were created. We reserve the right to execute combined monthly investment orders over several days, which may lead to orders in the same investments being executed on different days at different prices, and in certain circumstances (e.g. if there is insufficient liquidity in the market, extreme market conditions, for operational reasons or due to systems failure or malfunction) a delay or postponement of an Investment Day. The price of the investments may also be affected by market movements during the time when your Monthly Investment is queued in our systems or in the intervening period if an Investment Day is delayed or postponed. We are not responsible for the effect of any such market movements on the value of your investments.
- Details of the date on which your Order is intended to settle will be given in the Contract Note. For a sell Order, this is when we would expect to receive the sale proceeds. For a buy Order, this is when we would expect to receive the investment. For most investments, settlement will take place between 1 and 5 Business Days after the Order is executed.
- However, the date on which the settlement of your Order actually takes place may differ from the intended settlement date. You will be exposed to the risk of a Settlement Failure until such time as settlement actually takes place on the actual settlement date. For sale Orders, once actual settlement has taken place, you will then be able to withdraw the sale proceeds from your Account.
- In some cases there may be delays in settlement which mean that it does not take place by the intended settlement date. For example, as a result of the failure of the other party to the Order to comply with their obligations in a timely manner.
- If there is a delay in settlement, we will continue to use reasonable endeavours to settle the Order for you, unless there is a Settlement Failure. Even if the settlement is delayed, you will remain bound by the Order, unless there is a Settlement Failure.
- We are not responsible for any delay in settlement as a result of circumstances which are beyond our reasonable control, or for the failure of any other person, including the buyer or seller with whom we have placed the Order on your behalf, to do what is necessary in order for settlement to take place.
- If there is a Settlement Failure, we will contact you and provide you with details of your options.
- If for any reason (except as a consequence of our wilful default, fraud or negligence) we reasonably consider that there will be a Settlement Failure, we may reverse the transaction entries made in your Account to reflect the Settlement Failure. We will notify you of the Settlement Failure if we reverse any transactions.
- If the other party to an Order fails to make payment or to deliver the investment, resulting in a Settlement Failure, we will not be required to make payment of the sale proceeds or deliver the investment to your Account.
- You will be able to view the Contract Note for your Order in the app by the end of the Business Day after the day your Order has been executed. We will send you a notification letting you know your Contract Note is available to view.
- If you have not received your Contract Note within 3 Business Days of the day you place your Order, you should let the Dodl team know by contacting them in the app.
- The Contract Note will show the amount paid from or paid to your Account for your Order. You are responsible for checking that the information on the Contract Note is correct and informing us as soon as possible if something is not correct.
Investment income and Corporate Actions
- Dividends or other investment income will be credited to your Account on the day we receive them, wherever possible, but no later than 10 Business Days after receipt. We will make the payment based on information then available but may need to adjust it afterwards.
- Details of the outcomes of other Corporate Actions (e.g. rights issues) will be recorded in your Account on the day we receive them, wherever possible, but no later than 10 Business Days after receipt. The day we receive the details may be later than the published payment date.
- As a result of your investments being held in a Pooled Investment Account, any shares and cash that we receive from a Corporate Action will be allocated to your Account proportionately, based on the number of units of the relevant investment that you hold in relation to the total number of units of that investment held in the Pooled Investment Account. Shares and Cash allocated to your Account may be rounded down to the nearest whole share or penny. Any residual shares from a Corporate Action which we cannot allocate to customers on that basis will be sold. The net proceeds of your allocation will be paid to your Account, rounded down to the nearest whole penny. Any residual cash from a Corporate Action which cannot be allocated on that basis will be retained by us.
- We will use reasonable endeavours to notify you of a Corporate Action and request your instructions. If you do not give us instructions within the required timeframe, the default option of the company will apply as advised by us. The only exception is that we will always accept compulsory takeovers and mergers.
- As your investments are held in a Pooled Investment Account, your ability to participate and your entitlement under a Corporate Action may differ from what you would be entitled to receive if you held the investment directly in your own name.
- If the Corporate Action requires the payment of Cash from your Account, e.g. a rights issue, it is your responsibility to ensure that there is enough Available Cash in your Account to satisfy the payment when it is due. If there is not enough Available Cash, we will sell investments to provide sufficient Cash to satisfy the payment when it is due.
- Any new investments arising from a Corporate Action must satisfy applicable Regulatory Requirements. If these Regulatory Requirements are not satisfied, we will notify you of this and ask you to sell (or Transfer Out, where applicable) the investment within 20 Business Days of notifying you, otherwise we will sell the investment and pay the proceeds of sale to your Account.
- If a Corporate Action is subject to restrictions on the type of investor who can participate, it is your responsibility to check that you are eligible. If you are not eligible to participate, the default option will apply.
- We do not pass on shareholder perks and will not become involved in any shareholder interest groups in relation to investments held in your Account.
- We do not provide company reports or accounts for the investments you hold in your Account.
- If, in relation to investments held in your Investment ISA or Lifetime ISA, you make a separate request for each Corporate Action, unless we are prevented by Regulatory Requirements from doing so, we will arrange for you to attend and vote at shareholder meetings and receive any other information (other than annual reports and accounts) issued to shareholders.
Additional Pension terms
- You are responsible for ensuring that all Payments you make to your Pension are within allowable limits for tax relief. We will repay overpaid tax relief and interest on that amount from your pension to HMRC, and we may do this without your authority.
- If you hold a Pension and you move abroad, you must tell us straightaway. You must also tell us straightaway if you become a Canadian citizen or resident for tax purposes.
- We provide our investment service on an execution only basis for your Pension and, as the trustee of your Pension, authorise you to place Orders for your Pension as our agent.
- We will only pay you money from your Pension in accordance with the Scheme Rules. We will not make, and we will report to HMRC, any payment from your Pension which is not authorised under the Scheme Rules.
- On your death:
- the payments we make in relation to your Pension, and how these are taxed, will depend on the Scheme Rules, HMRC rules, your age at the time of death and the discretion of AJ Bell Management Limited, who acts as the scheme administrator;
- we may, at our discretion, pay death benefits arising in relation to your Pension to any one or more of your dependants, successors, nominees or other eligible recipients in accordance with the Scheme Rules.
- where you have notified us of your wishes, we will take them into account but are not bound by them. You should ensure you notify us of any changes in your wishes; and
- when we exercise our discretion, we will inform the beneficiaries of the different ways in which the death benefits may be paid.
Additional Investment ISA and Lifetime ISA terms
Investment ISA specific terms
- You cannot pay into an Investment ISA if you have already subscribed to another stocks and shares ISA in the same Tax Year, unless you are transferring that ISA to an Investment ISA.
- You can transfer cash and/or investments held in another stocks and shares ISA or cash ISA into your investment ISA. You can transfer all current year ISA subscriptions and/or all or part of your previous Tax Years’ payments. However, if the transfer would result in the ISA allowance being exceeded and we are otherwise unable to accept the transfer by removing the excess amount in accordance with HMRC rules, we will reject the transfer and inform your previous ISA Manager.
Lifetime ISA specific terms
- You must be under the age of 40 to open a Lifetime ISA, unless you are opening a Lifetime ISA in order to Transfer an existing lifetime ISA into it.
- You can only make Payments to your Lifetime ISA if you are aged under 50.
- You cannot pay into a Lifetime ISA if you have already subscribed to another lifetime ISA in the same Tax Year, unless you are Transferring that other lifetime ISA to a Lifetime ISA.
- You can transfer cash and/or investments held in another stocks and shares lifetime ISA into your Lifetime ISA but if it’s a help to buy ISA, stocks and shares ISA or cash ISA, you can only transfer cash into your Lifetime ISA. You can transfer all current year ISA subscriptions and/or all or part of your previous Tax Years’ payments. However, if the transfer would result in any ISA allowances being exceeded, and we are otherwise unable to accept the transfer by removing the excess amount in accordance with HMRC rules, we will reject the transfer and inform your previous ISA Manager.
- The government bonus, which is payable by HMRC in respect of any qualifying payments made to your Lifetime ISA, can only be claimed for Payments that are made to your Lifetime ISA which satisfy HMRC’s requirements under the ISA Regulations. Provided this requirement is met, we will claim any government bonus due and pay the bonus into your Lifetime ISA when we receive it from HMRC. We reserve the right to reclaim without your authority part or all of any government bonus paid in error to your Account.
Terms applicable to the Investment ISA and Lifetime ISA
- You appoint us as the ISA Manager for your Investment ISA and/or Lifetime ISA. We will manage it in accordance with the Agreement, the FCA Rules and the ISA Regulations. You authorise us to exercise the obligations and powers of an ISA Manager under the ISA Regulations on your behalf and to comply with any other Regulatory Requirement in relation to your Investment ISA and/or Lifetime ISA.
- We may delegate any of our functions as ISA Manager to a third party at our discretion but we will satisfy ourselves that anyone who we delegate to is competent to carry out those duties and responsibilities.
- If there is a conﬂict between the Agreement and the ISA Regulations, the ISA Regulations will prevail.
- Your Application for an Investment ISA or Lifetime ISA is continuous. For an Investment ISA, this means that you do not need to make another Application for an Investment ISA provided at least one Payment is made in each tax year and you remain eligible to make each Payment, otherwise you will need to reapply. For a Lifetime ISA, this means that your Application will remain valid for Payments made in any tax year in which you are eligible to make a Payment.
- You are responsible for ensuring that Payments into your Investment ISA or Lifetime ISA do not exceed the permitted individual or overall regulatory limits.
- We may disclose details of your Investment ISA or Lifetime ISA to HMRC and, if instructed by HMRC, we will return any over-payment without your further authority.
- If you hold an Investment ISA or Lifetime ISA and you move abroad, you must tell us straightaway. You will not be allowed to pay into your Investment ISA or Lifetime ISA after the Tax Year in which you move abroad, but we will usually keep your Investment ISA or Lifetime ISA open.
- You can make an additional payment to your Investment ISA or Lifetime ISA following the death of your spouse or civil partner, as allowed under the ISA Regulations. If you do find yourself in this situation, please contact the Dodl team who will be able help you with this.
- All investments held in your Investment ISA or Lifetime ISA must remain in your Beneficial Ownership except to the extent necessary to allow you to place and us to execute your Orders.
- Any new investment arising from a Corporate Action which does not satisfy the qualifying requirements of the ISA Regulations, shall be dealt with in accordance with the ISA Regulations.
- If any investment in your Investment ISA or Lifetime ISA is no longer permitted by the ISA Regulations, we will contact you with your options. If we do not receive a response within 20 Business Days, we will sell the investment. If we cannot sell the investment for any reason, the investments will be withdrawn from your Investment ISA or Lifetime ISA (as applicable) and registered in a General investment account in your name.
- Your Investment ISA or Lifetime ISA will remain open after your death until we receive the executors’ or personal representatives’ instructions to close your Account. These Terms will also apply to them.
Additional General investment account terms
- If you hold a General investment account and you move abroad, you must tell us straight away. We may close your Account but would normally only do so if your new country of residence means we have to provide any additional services or to undertake any additional work that does not fall within the normal scope of the Services.
- All investments held in your General investment account must remain in your Beneficial Ownership, except to the extent necessary to allow you to place and us to execute your Orders.
- We will provide you with an annual tax pack which will set out the details of gains and losses with respect to your investments and any dividend and other income payments you have received in the Tax Year, which will help you to complete your tax return. We will let you know when this is available to view.
Account: your account for your Investment ISA, Lifetime ISA, Pension and/or General investment account, which enables you to invest in the Investment Range.
Agreement: these Terms, each Application and, where relevant, the Key Features and Scheme Rules.
Application: the application you make for your Account via the app, including the declarations set out in the application and made by you in support of your application.
Available Cash: Cash held in your Account adjusted to take account of pending transactions, including unsettled Orders.
Beneficial Ownership: the underlying right to ownership of an investment which means that the investment cannot be sold, mortgaged, (except as provided in the ISA Regulations) used as security for a loan or otherwise dealt with.
Business Day: any weekday, excluding bank holidays, on which banks are generally open in the UK.
Cash: cash held by us in relation to your Account.
Charges: (i) the charges that apply to the Products and Services as set out on the Website (as amended from time to time) and (ii) any charges applied by a third party in relation to the part of the Services they help us to provide, which is payable by you.
Cleared: Cash which has cleared through the UK banking system and is available for you to use.
Competent Authority: any national or local agency (e.g. the FCA or HMRC), authority, department, inspectorate, minister, ministry official, parliament or public or statutory person of any government or professional body having jurisdiction over any of the activities contemplated by the Agreement.
Contract Note: a legal record of your Order.
Corporate Action: an event initiated by a company or corporation which impacts shareholders, e.g. takeovers, rights issues, open offers and consolidations.
Dodl, we, us or our: the AJ Bell company which provides the relevant Services. Details are set out in Section 1 of these Terms.
Dodl app or app: the mobile application made available to enable you to access your Accounts and receive the Services.
FCA: the Financial Conduct Authority or any applicable successor regulatory organisation.
FCA Rules: the rules set out in the FCA’s handbook of rules and guidance (as amended and updated from time to time).
FSCS: the Financial Services Compensation Scheme
General investment account: the Dodl general investment account we establish for you in accordance with these Terms.
Government Withdrawal Charge: a charge which is imposed by HMRC on certain withdrawals from a lifetime ISA. For further details, please see the Lifetime ISA Key Features.
Group companies: any of our subsidiaries or holding and/or parent companies, or subsidiaries of our holding and/or parent companies, or subsidiaries of the subsidiaries of our holding and/or parent companies.
HMRC: HM Revenue & Customs.
Investment Day: the day on which we process your Monthly Investment, as specified in the app.
Investment ISA: the Dodl investment ISA, which is a stocks and shares ISA, as defined in the ISA Regulations.
Investment Range: the range of investments available to you with Dodl. The investment range may change at any time and without notice but we will contact you if a change to directly affects you based on the investments you hold.
ISA: an individual savings account managed in accordance with the ISA Regulations.
ISA Manager: a person, firm or company approved by HMRC to manage ISAs.
ISA Regulations: the Individual Savings Account Regulations 1998 (as amended from time to time).
Key Features: the key features of a Pension or Investment ISA or Lifetime ISA or General investment account.
Lifetime ISA: the Dodl lifetime ISA, which is a lifetime individual savings account, as defined in the ISA Regulations.
Login Information: your username and password to access the app, your email address, any other security information, data or codes issued to you or used by you in connection with the Services.
Loss: losses, damages, liabilities, costs, fines, payments, claims, actions, proceedings and expenses and “Losses” will be interpreted accordingly.
Monthly Investment: an investment you set up to be bought every month automatically on the Investment Day.
Nominee: Lawshare Nominees Limited or any other nominee company we wholly own.
Order: an order to buy or sell investments within your Account, including a Monthly Investment.
Payment: money you pay into your investment ISA or lifetime ISA or Pension or General investment account. This is sometimes referred to as a ‘contribution’ in the context of your Pension and ‘subscription’ in the context of your investment ISA or lifetime ISA.
Pension: the Dodl pension representing the personal pension arrangements established for you under the Scheme.
Pension Provider: the operator or administrator of a UK registered pension scheme.
Pooled Investment Account: a general account in the name of the Nominee or an approved Third Party Custodian in which the investments of one or more customers are held.
Product: an Investment ISA or Lifetime ISA or Pension or General investment account provided by Dodl.
Regulatory Requirement: statutory and other rules, laws, regulations, instruments and provisions in force from time to time, including (without limitation) the rules, codes of conduct, codes of practice, practice requirements and accreditation terms stipulated by any Competent Authority.
Representative: a person to whom you have granted access to your Account in accordance with these Terms.
Scheme: the Sippdeal e-sipp, which is the scheme you become a member of when you open a Pension.
Scheme Rules: the trust deed and rules (as amended from time to time), which govern the Scheme and are available on the Website.
Services: any one or more of (i) administration services, including the set up and administration of your Pension; maintenance of administrative records; processing payments into your Pension, e.g. contributions, transfers; recovery of basic rate tax on your contributions; and any additional services necessary for the administration of the Scheme or your Pension; (ii) the execution only dealing service we provide through which you can place Orders for your Account; and (iii) the custody services including safe custody of your investments, the collection of dividends or interest on investments held, dealing with Corporate Actions and payment against delivery of stock.
Settlement Failure: a failure to settle an Order. For example, as a result of the failure of the other party to the order to comply with their obligations.
Tax Year: 6 April to the following 5 April.
Terms: these terms and conditions.
Third Party Custodian: a person other than the Nominee we appoint to provide custody services in relation to your investments.
Transfer: the transfer of cash or investments to your: (i) Pension, which involves the transfer of your benefits to the Scheme from another Pension Provider; or (ii) Investment ISA, from another stocks and shares ISA or cash ISA; or (iii) Lifetime ISA, from another stocks and shares lifetime ISA, cash lifetime ISA, help to buy ISA, stocks and shares ISA or cash ISA; or (iv) your General investment account, from you personally or from another general investment account. “Transferred” and “Transferring” will be interpreted according to this definition.
Transfer Out: the transfer of all or part of your Cash and/or investments in relation to your: (i) Pension to a new Pension Provider; or (ii) Investment ISA or Lifetime ISA (subject to ISA Regulations) to another ISA Manager; or (iii) General investment account to another provider or to you.
UK: the United Kingdom of Great Britain and Northern Ireland which excludes the Channel Islands and the Isle of Man.
Website: the website at dodl.co.uk (as amended and updated from time to time)
Dodl by AJ Bell is provided by AJ Bell Management Limited (company number 03948391), AJ Bell Securities Limited (company number 02723420) and AJ Bell Asset Management Limited (company number 09742568), all of which are authorised and regulated by the Financial Conduct Authority. All companies are registered in England and Wales at 4 Exchange Quay, Salford Quays, Manchester M5 3EE.