MAG Financial Services Limited are committed to protecting personal information.
Data Privacy Principles:
All personal data will be processed lawfully, fairly and in a transparent manner.
Personal data will only be collected for the specified purpose outlined within “How will we use the information about you?” and will not be further processed in a manner that is incompatible with those purposes.
Personal data that we collect will be adequate, relevant and limited to what is necessary in relation to the purposes for which those data are processed. The information we collect is outlined in the section below “What information do we collect about you?”.
We will take all reasonable steps to ensure that personal data is accurate and, where necessary, kept up to date.
Personal data will be kept in a form that permits identification for no longer than is necessary for the purposes for which the personal data has been collected for processing, in line with the MAG Financial Services Ltd Data Retention Policy.
We will hold and process personal data in a manner that ensures appropriate security. We outline this in the “How do we store your personal data” section of this policy.
What information do we collect about you?
In order to provide financial advice, we will be required to collect and use the following information about you:
Personal Information: e.g. your name, date of birth, address and contact details
Financial Information: e.g. gross income and expenses, tax position and existing investment/pension arrangements.
Information classified as “Sensitive Information”: e.g. relating to your health, marital or civil partnership status. This information will only be collected and used where it is needed to provide the product and/or service, or to comply with our legal obligation.
Information you may provide us about other people: e.g. joint applications or beneficiaries for products recommended by us.
Information on children: e.g. where a child is named as a beneficiary on a contract proposed by a parent or guardian.
How will we use the information about you?
We collect information about you to carry out the Advice Process and to provide an Ongoing Service to you in respect of advice given.
We will use your personal data in order to verify your identity. In order to do so we may need to share some of your data with third parties, which may include fraud prevention and anti-money laundering agencies.
We will use your personal data to communicate with you about your investment portfolio and any advice we have given, as well as provide service-related updates and notifications. Where possible we will communicate with you via a secure Client Portal, however there may be times where regulation requires us to contact you in a specific way.
We may share your data with third parties to arrange products or services that we proposed as part of the Advice Process. These include, but are not limited to, product providers, investment platforms, fund/asset managers. We periodically check that these third parties have appropriate safeguards in place to protect your data and that they are compliant with Data Protection Regulations.
We may use your information for marketing purposes, however we will only do this where you specifically ask us to do so. This might include using your data to identify products and services that may be of use to you.
We would like to send you information about products and services of ours which may be of interest to you. If you have consented to receive marketing, you may opt out at any time by clicking the unsubscribe link at the bottom of any email or by sending us an email at email@example.com.
You have a right at any time to stop us from contacting you for marketing purposes. If you no longer wish to be contacted for marketing purposes, please email firstname.lastname@example.org.
How do we store your personal data?
The measures we use to keep your personal data safe and secure include data encryption and ongoing encrypted back-ups to ensure the continuing integrity of your data.
The majority of your personal data is processed and/or stored in the UK and European Economic Area (EEA). However, some of your information may be processed and stored by the third parties we work with outside of the EEA.
Where personal data is being processed and/or stored 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 / EEA data privacy laws.
Your Individual Rights:
You have several rights in relation to how MAG Financial Services Ltd uses your information:
Right to be informed
You have a right to receive clear and easy to understand information on what personal information we have, why and who we share it with.
Right of access
You have the right of access to your personal information. If you wish to receive a copy of the personal information we hold on you, you may make a data subject access request (DSAR).
Right to request that your personal information be rectified
If your personal information is inaccurate or incomplete, you can request that it is corrected.
Right to request erasure
You can ask for your information to be deleted or removed if there is not a compelling reason for MAG Financial Services Ltd to continue to have it.
Right to restrict processing
You can ask that we block or suppress the processing of your personal information for certain reasons. This means that we are still permitted to keep your information – but only to ensure we don’t use it in the future for those reasons you have restricted.
Right to data portability
You can ask for a copy of your personal information for your own purposes to use across different services. In certain circumstances you may move, copy or transfer the personal information we hold to another company in a safe and secure way.
Right to object
You can object to MAG Financial Services Ltd processing your personal information where: it is based on our legitimate interests; for direct marketing; and if we were using it for scientific/historical research and statistics.
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How to contact us:
· Email us:
· Write to us: MAG Financial Services Ltd, Sovereign House, Stockport Road, Cheadle, Cheshire SK8 2EA
Our Data Protection Lead is Oz Shtrosberg who can be contacted on (0161) 428 4237 or at you have any questions or concerns about privacy or data protection.
Your right to complain
If at any time you wish to complain about anything we have done, or you have any concerns about how we treat your privacy or data you can complain to the Information Commissioner’s Office https://www.ico.org.uk.