Privacy policy

We, as the “data controller”, collect and use personal information about you in order to provide our services. Please read the following carefully to understand how we use and protect the information that you provide to us.  It is important you read this notice together with any other privacy notice we may provide on specific occasions when we are collecting or processing personal information about you, so that you are aware of how and why we are using such information.

In general terms, we collect and use personal information about you to:

• Deliver our services and meet our legal responsibilities
• Verify your identity where this is required
• Contact you by post, email or telephone about important changes to our Website, products or services
• Maintain our records
• Process financial transactions
• Prevent and detect crime, fraud or corruption

This includes:

• Your personal contact details (such as name, date of birth and email/postal address);
• Documentation confirming your identity, tax residency and legal authority;
• Information connected to the product or services you use (for example, bank account details);
• Information you provide about other people (for example, for joint applicants or beneficiaries for products or services);
• Your correspondence with us (such as letters, emails, calls or meetings);
• Images of you collected by photography or security cameras should you visit our office or one of our events;
• Information collected automatically via cookies when you visit one of our websites;
• Information relating to your health, marital or civil partnership status (only where it is necessary to provide the product or service you have requested or if required to comply with our legal obligations)

The nature of our relationship with you will impact on why, how and what personal information we process. Further details for each relationship are set out below:

If you are a financial adviser and use services and products offered by Nucleus, we may collect personal information from you and your employees directly as a consequence of the contractual relationship in place between us.

In order to provide our services to you in an effective and efficient way, we require to process personal information about you and if you do not wish for your personal information to be processed then we will be unable to provide you with our services.  In addition to information that you provide to us, we may also obtain information about you from regulatory authorities and credit reference agencies.  The reason and our legal basis we rely on for using your information will depend on the circumstances and is explained in more detail below:

Reason for processing your personal information

• Make a decision about your application to use the platform and check you are eligible to use the platform services on an ongoing basis
• Contact you
• Administer our terms of business with you and exercise our rights
• Process corporate actions in relation to client investments
• Ensure compliance with the terms of our contract
• Provide and process payments of adviser charge
• Business management and planning, including accounting or auditing
• Monitor your use of our IT and communications systems
• Marketing and training

Legal bases for processing

• To enter or carry out the terms of business
• To comply with our legal obligations
• Legitimate interests

Legitimate interests for processing your data:

• To maintain records
• To comply with our legal, regulatory and corporate governance obligations
• For the establishment, exercise or defence of legal claims
• To keep you up to date with the products and services that we offer to you and your clients

Legitimate interests for monitoring your use of our IT and communications systems:

• To protect our networks and other unauthorised access or data leakage
• To ensure our policies such as those concerning security, fair use and data security are adhered to
• To ensure commercial sensitive information is kept confidential
• To check that restrictions on your use of the platform (where applicable) are complied with
• To ensure our testing plans adequately reflect real world usage of the systems

Letting you know about our other products and services

We might use your information to let you know about other products and services that we offer which may be of interest to you and we may contact you by post, telephone or fax, as well as by e-mail.  You can change your marketing preferences at any time by updating your email preferences which can be found in the footer of every email we send you.

As set out in our terms of business, information relating to your clients is shared between us and you on a data controller to data controller basis. You should read our terms of business carefully to understand your responsibilities in relation to such sharing of personal information.

Where you have contracted for our services, we may process personal information about you in order to facilitate the contractual relationship in place between us and to provide you with our services.

To provide our services to you in an effective and efficient way, we require to process personal information about you. This information may come from you directly, from the financial adviser you have instructed to act on your behalf and credit reference agencies.  This information is necessary for us to enable us to provide the services to you and if you do not wish for your personal information to be processed then we will be unable to provide you with our services.  The reason and legal basis we rely on for using your personal information will depend on the circumstances and is explained in more detail below:

Reason for processing your personal information

• Make a decision about your application to open an account, product and/or use the platform services
• Make decisions about your continued access to the platform or services on an on-going basis and make arrangements for the termination of our contract if appropriate
• Contact you
• Administer our contract with you and exercise our rights
• Ensure compliance with our terms and conditions
• Process payments and deducting charges
• If applicable, deduct tax
• Business management and planning, including accounting or auditing
• Making improvements to our products and services
• Monitor your use of our IT and communications systems

Legal bases for processing

• To enter or carry out the contract (our terms and conditions)
• To comply with our legal obligations
• Legitimate interests

Legitimate interests for processing your data

• To maintain records
• To comply with our legal, regulatory and corporate governance obligations
• For the establishment, exercise or defence of legal claims

Legitimate Interests for monitoring your use of our IT and communications systems

• To protect our networks and other unauthorised access or data leakage
• To ensure our policies such as those concerning security, fair use and data security are adhered to
• To ensure commercial sensitive information is kept confidential
• To check that restrictions on your use of the platform (where applicable) are complied with
• To ensure our testing plans adequately reflect real world usage of the systems

Letting you know about our other products and services

We do not market directly to you. Instead, we provide information to financial advisers to help them to keep their clients up to date with the products and services. Any marketing that you receive for our products and services will be the responsibility of your financial adviser. For further information about this, including how to change your preferences, please contact your financial adviser or check their privacy statement.

To ensure that we are providing an efficient and effective service we will sometimes be required to share the information we have collected with third parties that support us in providing this service. These third parties are:

• Your financial adviser
• Companies we have chosen to support us in the delivery of our products and services, for example, IT service providers, consultants and companies that provide administrative services
• HM Revenue & Customs, regulators and other authorities
• Companies you ask us to share data with
• Credit reference agencies to carry out anti-money laundering or identity verification checks
• RL 360 Limited (if you invest in the Nuclues offshore bond)
• Sanlam Life & Pensions UK Limited (if you invest in the Nucleus onshore bond). Sanlam privacy statement (PDF).
• Scottish Friendly Life Assurance Society Limited (if you have invested in the Scottish Friendly onshore bond or Nucleus APP Pension Account)
• Pension fund trustees (if you invest in a SIPP)
• Fund managers (or their appointed representatives) of the relevant fund(s) you have invested in
• Discretionary fund managers, should you elect to use such a service
• Banks with which we operate client banking arrangements.

We may have to share your data with other companies in the Nucleus group, for example we will share your personal information with other entities in the Nucleus group as part of our regular reporting activities on company performance, in the context of a business reorganisation or group restructuring exercise, for system maintenance support and hosting of data.

Most of your information is processed in the UK and European Economic Area (EEA). We may process some of your information outside the EEA, including countries such as the United States and India. Where your information is processed outside of the EEA, we take additional steps to ensure that your information is protected to at least an equivalent level as would be applied by UK or EEA data privacy laws. We will put in place appropriate contracts with our third party suppliers and take steps to check these suppliers are fulfilling their obligations.

Whenever we share your personal information, we will do so in line with our obligations to keep your information secure.

You can find out more about the bodies we share your information with by contacting dataprotection@nucleusfinancial.com.

We only keep information for as long as is necessary in order to discharge our statutory and legal obligations. This will vary depending on the particular circumstances. As a general rule, we will retain records for a period of six years following the termination of the contractual relationship between us, unless there are circumstances which mean we must retain the records for longer periods. There are various reasons why we must keep records for longer time periods, such as where the record is relevant to legal proceedings, a criminal investigation or where the record is subject to a statutory retention period (for example, data in relation to pensions).

Access to your information – You have the right to request a copy of the personal information about you that we hold.

Correcting your information – we want to make sure that your personal information is accurate, complete and up to date and you may ask us to correct any personal information about you that you believe does not meet these standards.

Deletion of your information – You have the right to ask us to delete personal information about you where:

• You consider that we no longer require the information for the purposes for which it was obtained
• We are using that information with your consent and you have withdrawn your consent – see Withdrawing consent to using your information below
• You have validly objected to our use of your personal information – see Objecting to how we may use your information below
• Our use of your personal information is contrary to law or our other legal obligations.

Objecting to how we may use your information – You have the right at any time to require us to stop using your personal information for direct marketing purposes.  In addition, where we uses your personal information to perform tasks carried out in the public interest or pursuant to the legitimate interests of us or a third party then, if you ask it to, we will stop using that personal information unless there are overriding legitimate grounds to continue.

Restricting how we may use your information – In some cases, you may ask us to restrict how we use your personal information.  This right might apply, for example, where we are checking the accuracy of personal information about you that we hold or assessing the validity of any objection you have made to our use of your information.  The right might also apply where we no longer has a basis for using your personal information but you don’t want us to delete the data.  Where this right to validly exercised, we may only use the relevant personal information with your consent, for legal claims or where there are other public interest grounds to do so.

Portability – if we process personal information that you provide to us on the basis of consent or because it is necessary for the performance of a contract to which you are party, and in either case that processing is carried out by automated means, then you have the right to have that personal information transmitted to you in a machine readable format. Where technically feasible, you also have the right to have that personal information transmitted directly to another controller.

Automated processing – If we use your personal information on an automated basis to make decisions which significantly affect you, you have the right to ask that the decision be reviewed by an individual to whom you may make representations and contest the decision.  This right only applies where we use your information with your consent or as part of a contractual relationship with you.

Withdrawing consent using your information – Where we use your personal information with your consent you may withdraw that consent at any time and we will stop using your personal information for the purpose(s) for which consent was given.

Please contact us in any of the ways set out in the Contact information and further advice section if you wish to exercise any of these rights.

We keep this privacy policy under regular review and will place any updates on this website. Paper copies of the privacy policy may also be obtained by emailing dataprotection@nucleusfinancial.com.

This privacy policy was last updated on 12 October 2018.

We seek to resolve directly all complaints about how we handle personal information but you also have the right to lodge a complaint with the Information Commissioner’s Office:

Online: https://ico.org.uk/global/contact-us/email/

By phone: 0303 123 1113

By post: Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, SK9 5AF

All comments, queries and requests relating to our use of your information are welcomed and should be addressed to:
Yvonne Clough
Nucleus Financial Group,
Nucleus HQ,
Greenside,
12 Blenheim Place,
Edinburgh,
EH7 5JH
Email: dataprotection@nucleusfinancial.com
Telephone: 0131 226 9800