Common use of Model Portfolios Clause in Contracts

Model Portfolios. 2.8.1. Where you advise your Investors to invest in one or more of Credo’s model portfolio of investments, we will not provide advice to your Investors in relation to any model portfolios. We will not therefore consider the suitability or appropriateness of any transactions entered into. It is your responsibility to advise your Investors in relation to the suitability and appropriateness of any model portfolio in compliance with the FCA Rules. It is also your responsibility to monitor each Account that is linked to such model portfolio(s) and to continue to assess the suitability or appropriateness of all transactions entered into (including those resulting from changes to the model portfolio(s) and rebalancing of each Account), on an ongoing basis and to ensure that the model portfolio and rebalancing are correctly applied to each account. 2.8.2. Where ▇▇▇▇▇ decides both the asset allocation and the investments held within a model portfolio, then our role is to construct the model portfolio with asset allocations designed to represent certain investment objectives and risk profiles and select the investments to populate each model portfolio, at our discretion and in line with the principle of prudent diversification, where appropriate. We will review a model portfolio where we select the investments periodically as we consider appropriate. As a result of these reviews, we may instruct changes to the model portfolio(s). We may also periodically instruct a rebalancing of Accounts that are linked to the model portfolio(s). 2.8.3. Where you decide upon the allocation of model portfolios to be held in any Account or the asset allocation and/or the investments held within any Account that is linked to the model portfolio(s), then we will take instructions from you as to the creation of these model portfolios for that Account and changes to it, and rebalancing of that Account linked to these model portfolios. Where you instruct a rebalance of any Account linked to these model portfolios, this will result in transactions being applied to that Account to reflect the relevant model portfolio. We are not responsible for any loss arising from the choice of any model portfolio, or any reliance placed upon your services by your Investors. We do not accept liability for any action or failure to take action on the part of you or your contractors or agents. 2.8.4. We do not provide any express or implied warranty as to the performance or profitability of any model portfolio. Please note that any Account linked to a model portfolio and its performance may vary from that of the model portfolio due to, for example, differences resulting from the timing of investment or rebalancing, minimum transaction size limits, insufficient cash to pay for purchases, or the realisation of assets and/or withdrawals and we shall not be liable for any such discrepancies in performance. 2.8.5. We reserve the right to withdraw the availability of any model portfolios from the products that we offer to clients at our discretion if their continued availability becomes impossible or impractical in our opinion, including without being limited as a result of a change in legal or regulatory requirements, or any circumstance beyond our reasonable control and we shall not be liable for any loss that results. If this happens, this will result in any relevant Accounts being delinked from the withdrawn model portfolios and you will be responsible for continuing to provide advice to your Investors in relation to their Accounts. 2.8.6. You hereby acknowledge and agree that: 2.8.6.1. you are responsible for ensuring that, where appropriate: 2.8.6.1.1. each of the Investors has consented to the investment in a model portfolio;and 2.8.6.1.2. you are acting in accordance with your authority from the Investors; 2.8.6.2. you are responsible for: 2.8.6.2.1. advising the Investors in relation to the suitability or appropriateness of any model portfolio in compliance with FCA Rules; and 2.8.6.2.2. monitoring portfolios linked to a model portfolio and continuing to assess the suitability and appropriateness of all transactions entered into, including those resulting from changes to the model portfolio and rebalancing of portfolios linked to the model portfolio, on an ongoing basis; and 2.8.6.2.3. compliance with the FCA Rules and other applicable law and regulations in respect of the business conducted by you in relation to the Investors; 2.8.6.3. Credo’s responsibility (to the Investors) is limited as set out in this clause 2.8. 2.8.7. You undertake to procure that whether through placing any dealing instruction or otherwise, you shall not do anything to interfere with or prejudice the application of the model portfolios or any rebalancing to your Investors’ linked portfolios and shall take all steps necessary to ensure that at all times the model portfolios and rebalancing are correctly applied to your Investors’ relevant portfolios in order to maintain their investment objectives and risk profile. This will include, in the event of any failed trades, taking corrective action as soon as possible in accordance with Credo’s trading procedures. 2.8.8. Where you intend to charge the Investors fees in addition to Credo’s fees, in respect of services provided in relation to model portfolios, you are responsible for agreeing those with the Investors and ensuring that all fees and charges are disclosed to the Investors in respect of portfolios linked to model portfolios, including Credo’s fees and ensuring that the Investors agree that these amounts may be deducted and paid from their relevant portfolio(s) held at Credo. For further details in relation to charges, please refer to clause 11 below “Our Charges”.

Model Portfolios. 2.8.1. Where you advise your Investors underlying clients to invest in one or more of Credo’s model portfolio of investments, we will not provide advice to your Investors underlying clients in relation to any model portfolios. We will not therefore consider the suitability or appropriateness of any transactions entered into. It is your responsibility to advise your Investors clients in relation to the suitability and appropriateness of any model portfolio in compliance with the FCA Rules. It is also your responsibility to monitor each Account that is linked to such model portfolio(s) and to continue to assess the suitability or appropriateness of all transactions entered into (including those resulting from changes to the model portfolio(s) and rebalancing of each Account), on an ongoing basis and to ensure that the model portfolio and rebalancing are correctly applied to each accountAccount. 2.8.2. Where ▇▇▇▇▇ decides both the asset allocation and the investments held within a model portfolio, then our role is to construct the model portfolio with asset allocations designed to represent certain investment objectives and risk profiles and select the investments to populate each model portfolio, at our discretion and in line with the principle of prudent diversification, where appropriate. We will review a model portfolio where we select the investments periodically as we consider appropriate. As a result of these reviews, we may instruct changes to the model portfolio(s). We may also periodically instruct a rebalancing of Accounts that are linked to the model portfolio(s). 2.8.3. Where you decide upon the allocation of model portfolios to be held in any Account or the asset allocation and/or the investments held within any Account that is linked to the model portfolio(s), then we will take instructions from you as to the creation of these model portfolios for that Account and changes to it, and rebalancing of that Account linked to these model portfolios. Where you instruct a rebalance of any Account linked to these model portfolios, this will result in transactions being applied to that Account to reflect the relevant model portfolio. We are not responsible for any loss arising from the choice of any model portfolio, or any reliance placed upon your services by your Investorsunderlying clients. We do not accept liability for any action or failure to take action on the part of you or your contractors or agents. 2.8.4. We do not provide any express or implied warranty as to the performance or profitability of any model portfolio. Please note that any Account linked to a model portfolio and its performance may vary from that of the model portfolio due to, for example, differences resulting from the timing of investment or rebalancing, minimum transaction size limits, insufficient cash to pay for purchases, or the realisation of assets and/or withdrawals and we shall not be liable for any such discrepancies in performance. 2.8.5. We reserve the right to withdraw the availability of any model portfolios from the products that we offer to clients at our discretion if their continued availability becomes impossible or impractical in our opinion, including without being limited as a result of a change in legal or regulatory requirements, or any circumstance beyond our reasonable control and we shall not be liable for any loss that results. If this happens, this will result in any relevant Accounts being delinked from the withdrawn model portfolios and you will be responsible for continuing to provide advice to your Investors underlying clients in relation to their Accounts. 2.8.6. You hereby acknowledge and agree that: 2.8.6.1. you are responsible for ensuring that, where appropriate: 2.8.6.1.1. each of the Investors underlying clients has consented to the investment in a model portfolio;andportfolio; and 2.8.6.1.2. you are acting in accordance with your authority from the Investorsunderlying client; 2.8.6.2. you are responsible for: 2.8.6.2.1. advising the Investors underlying clients in relation to the suitability or appropriateness of any model portfolio in compliance with FCA Rules; and 2.8.6.2.2. monitoring portfolios linked to a model portfolio and continuing to assess the suitability and appropriateness of all transactions entered into, including those resulting from changes to the model portfolio and rebalancing of portfolios linked to the model portfolio, on an ongoing basis; and 2.8.6.2.3. compliance with the FCA Rules and other applicable law and regulations in respect of the business conducted by you in relation to the Investorsunderlying clients; 2.8.6.3. Credo’s responsibility (to the Investorsunderlying clients) is limited as set out in this clause 2.8. 2.8.7. You undertake to procure that whether through placing any dealing instruction or otherwise, you shall not do anything to interfere with or prejudice the application of the model portfolios or any rebalancing to your Investorsunderlying clients’ linked portfolios and shall take all steps necessary to ensure that at all times the model portfolios and rebalancing are correctly applied to your Investorsunderlying clients’ relevant portfolios in order to maintain their investment objectives and risk profile. This will include, in the event of any failed trades, taking corrective action as soon as possible in accordance with Credo’s trading procedures. 2.8.8. Where you intend to charge the Investors underlying clients fees in addition to Credo’s fees, in respect of services provided in relation to model portfolios, you are responsible for agreeing those with the Investors underlying clients and ensuring that all fees and charges are disclosed to the Investors underlying clients in respect of portfolios linked to model portfolios, including Credo’s fees and ensuring that the Investors underlying clients agree that these amounts may be deducted and paid from their relevant portfolio(s) held at Credo. For further details in relation to charges, please refer to clause 11 below “Our Charges”.