Providing the safest environment
We work hard to ensure security and safeguard our customers' investments and data. We check and double check with verification built into our processes at every step.
Account security
Every account is secured using 256-bit SSL encryptions. We store all our data on servers in a secure facility. We maintain continuous encryption, auditing and backups. We subject our software and systems to regular penetration testing.
Account protection
We participate in the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the FSCS if we cannot meet our obligations. This current retail investment compensation is £85,000 per person per firm.
We care about security as much as you do
We are authorised and regulated by the Financial Conduct Authority (FCA) which means we undergo regular, rigorous examination to ensure we maintain adequate capital requirement, keep customer records, amongst others.
We are also covered by the Financial Services Compensation Scheme (FSCS), which protects every account up to £85,000 per customer.
Client money
All client money is held on trust with major UK banks such as HSBC, and is segregated from our own funds in accordance with the FCA’s client money rules and guidance. Any creditors of Fundment Limited would have no legal right to it and we cannot use any of this money to cover Fundment’s obligations. In the unlikely event of us going into administration, all money held in the segregated client money accounts will be protected and legally ring-fenced from the creditors of Fundment Limited.
Client assets
Each client holding an asset within our custody will have a claim against the relevant segregated holdings in that asset, along with other clients holding that asset in the pool.
In the event of our failure, an insolvency practitioner would determine the number of units each client should be entitled to and will then proportionately distribute the units/shares in the pool to all clients with a valid claim.
Financial Services Compensation Scheme (FSCS) protection
Investors are likely to be covered by the provisions of the Financial Services Compensation Scheme (FSCS), if Fundment ceases trading. It can award up to £85,000 in compensation to any one investor where they decide that an investment business is in default and is unable to satisfy any claims against it. In addition, if HSBC Bank plc which we use for depositing cash balances is declared in default, each individual is entitled to 100% of the first £85,000 in total in compensation for losses across all their deposits with that institution.
ISA and Pension Procedures are independently assessed by HM Revenue and Customs
Fundment Limited is also registered with HM Revenue & Customs to enable us to act as an ISA and Pension manager. Accordingly, our procedures for operating ISA and Pension Plans are also independently assessed by HM Revenue and Customs.
Unit trusts and OEICs use a trustee or depositary to protect Investors
Unit trusts and OEICs use a trustee or depositary to hold the title to the underlying stocks they hold in their funds. This means that if the fund manager gets into financial difficulty, client assets are protected from their creditors.
Data protection
We will take reasonable care to prevent any unauthorised access to your personal data. We comply with UK data legislation at all times and are registered as data controllers.
Ready to optimise your practice with Fundment?
Our team will show you how our technology can take your business to the next level.