An “information only” basis is when you buy an investment bond having been provided with general information, such as product details in the form of an illustration or a Key Features Document. This would constitute ‘guidance’, as opposed to ‘advice’. With an “information only” transaction, you decide which investment bond to purchase without receiving a recommendation or financial advice from us.
You need to be aware that taking out an investment bond on an “information only” basis means your statutory rights to complain about any financial advice received will be adversely affected should you complain to the Financial Ombudsman Service. Similarly your statutory rights to seek redress or compensation from the Financial Services Compensation Scheme (FSCS) could also be compromised.
If you are unsure as to which investment bond meets your requirements, we would urge you to allow us to give you advice. This will not cost you any extra and gives you additional statutory protection not available for “information only” transactions.