Hatch Terms & Conditions


Hatch is a trading name of  TW11 Wealth Management Limited, a Company registered in England (No. 10339119), which is a wholly owned subsidiary of VouchedFor Limited (No. 07485300). The address for both TW11 Wealth Management Limited and VouchedFor Limited is 8 Waldegrave Road, Teddington, TW11 8HT.

Hatch is authorised and regulated by the Financial Conduct Authority (FCA). The firm reference number is 763630.

Definitions

“User” means anyone using the Website and/or making use of the Service.

“Coaching Client” and “Client” means anyone who is signed up to a paid for Service provided by Hatch.

“Financial Coach” and “Coach” means person employed by, or contracted to, TW11 Wealth Management Limited who delivers financial coaching services as described below.

“Hatch”, ”we”, ”us” and ”our” means TW11 Wealth Management Limited, the company that will provide the service outlined below and a wholly owned subsidiary of VouchedFor Limited.

“Website” means the website www.hatchplan.co.uk and all the pages, content and sub-domains contained in it.

“Service” means any of the services operated through the Website and over the phone whereby users can plan their finances, receive guidance and access regulated financial services.

“Pension Advice Vouchers” means the scheme operated by VouchedFor Limited whereby an employee may request electronic pension advice cash vouchers in order to pay for or be reimbursed for the cost of financial advice they have received.

General Terms

1. Our Service

There are three sub-services that make up the overall Hatch service:

  • Financial Planning Service - This service allows users to build a financial plan (or have one built for them), and discover how their wealth is set to change over time.
     

  • Financial Coaching Service - This service allows users to receive one-on-one coaching from a Financial Coach. The Coach can answer questions, help plan their finances, give general financial guidance and refer users to regulated financial services.
     

  • Advisory Services - This collection of services gives users and clients access to services, tools and advisers who can provide regulated financial advice, including product recommendations where relevant.

 

These general terms apply to all users and clients, but there are also specific terms relating to each sub-service, which are below.

2. Paid Service

a. Our Charges

The current prices can be found on our website: https://about.hatchplan.co.uk/our-charges

Membership Subscription

To receive access to all elements of the Service, you must pay an annual membership subscription. Your annual membership subscription will renew automatically each year on the anniversary of your initial sign up date, unless you let us know in advance that you would not like to renew your Hatch subscription.

You may choose to pay the total subscription up front, or you may choose to pay in 12 monthly instalments.

Investment Fees

Users and clients who choose to invest using our online investment service will be subject to additional fees. The amount will depend on the type of investment you choose, your level of risk and amount invested. Your fees will be made clear when setting up an account on the Online Investment Service. Additional terms and conditions apply.

Changes to our charges

From time to time it may be necessary for Hatch to make changes to our charges, which we may do at any time. When that is the case, all Clients will be notified by email of the changes and how they will be affected.

Clients who signed up to a paid service before the changes are announced publicly will be able to switch to the new charges as soon as it is possible to do so. However, they will also have the option to remain on their existing payment plan until the next anniversary of their original sign up date (i.e. until their next Annual Review).

b. Payment for services


By joining our paid service you are agreeing to pay the charges for our services as set out above and on our Website.

If you choose to be billed monthly it’s important that you make payments as agreed. Where you miss a payment, or cancel the direct debit from where the payments are taken, the missing amount will be added to the following month’s payment.

c. Offers and Rewards

Offers

From time to time, Hatch may offer discounts or other special offers. All Hatch offers are subject to availability and we reserve the right to withdraw any of our offers any any point. Certain offers may be subject to additional terms and conditions which will be outlined when claiming the offer.

Referral Reward

Hatch Clients are eligible to earn up to £250 per year in return for recommending Hatch. This is called the 'Referral Reward'. To claim the full reward, you must successfully complete one of the qualifying actions which can be found at https://about.hatchplan.co.uk/referral-reward. Please note that the list of qualifying actions may change from time to time without notice.

When one of the qualifying actions has been completed and verified by Hatch, you will begin receiving the £250 Referral Reward as cash. If you have chosen to pay monthly for Hatch then this will be paid to you in 12 monthly instalments.

Clients who pay their Hatch subscription using Pension Advice Vouchers (see below) will be required to provide their personal bank account details into which their Referral Reward will be paid. The Referral Reward will not be paid out to Clients who fail to provide valid bank account information. In addition, the Referral Reward will not be paid out until the Client’s Employer has paid the Pension Advice Voucher invoice relating to the Client’s Hatch subscription.

In the event that you cancel your Hatch membership, you will forfeit any outstanding amount that has not yet been paid out to you as outlined above.

d. Pension Advice Vouchers

Pension Advice Vouchers is a scheme operated by VouchedFor Limited, the parent company of Hatch. Using Pension Advice Vouchers, employed individuals can save the tax they have paid on up to £500 of financial advice, saving up to £310.

By signing up to the Hatch Paid Service, you are also agreeing to the terms and conditions of Pension Advice Vouchers which may be found here: https://pensionadvicevouchers.co.uk/terms

You also agree that Hatch may request Pension Advice Voucher(s) on your behalf, for as long as you remain a Client. We will request vouchers equivalent in value to either the total annual fee you are due to pay or the total monthly fee you are due to pay, as instructed by your employer, subject to any limitations of the scheme.

If the request is successful, your Hatch fees will be paid directly by your employer. Unless we or your employer notify you differently, your employer will reduce your gross salary by the equivalent amount of the voucher.

In the month where your Pension Advice Vouchers are redeemed, where you have already paid Hatch fees directly in the last 12 months, we will request an additional amount of vouchers to provide you a lump sum tax-free reimbursement. Again this will result in a commensurate sacrifice of your gross salary.

In the event that you cancel your Hatch membership before your annual review, you may end up paying less than the value of the Pension Advice Voucher that was claimed on your behalf. This may impact your tax liabilities for that tax year. It is your responsibility to ensure that you have complied with all relevant tax laws, and Hatch may not be held liable in the event that you do not.

e. Cancellations

Your Hatch Subscription is an annual commitment, and is renewed automatically on an annual basis.

You may request that your next annual subscription is not renewed at any time. This will result in the termination of your paid account on the next anniversary of your initial sign up date with Hatch. You will be liable to pay any other outstanding fees, if applicable, and will not receive any refund for fees already paid unless explicitly agreed in advance.

f. Termination or restriction of Service

You agree that Hatch, in its sole discretion, has the right to delete, suspend or deactivate your user account, block your email address, or otherwise terminate or restrict your access to or use of the service immediately and without notice and remove and discard any content within the Website for any reason, including, without limitation, if Hatch believes that you have acted inconsistently with the letter or spirit of the Terms.

You agree that neither Hatch nor its officers or employees shall be liable to you or any third-party for any termination or restriction of your access to the Service.

3. Providing information about your circumstances


Any guidance or advice we provide will be based on the information that you give so it’s important that you provide us with accurate and complete information about your circumstances and objectives. If you limit the information provided it could affect the suitability of the advice we give.

4. Legal and accounting advice


We are not qualified to provide legal or accounting advice or to prepare any legal or accounting documents. This means that the onus is on you to refer any point of law or accountancy that may arise during the course of discussions with us, to a solicitor or accountant.

5. Your Personal Information

To provide our services properly we’ll need to collect information about your personal and financial circumstances. We take your privacy seriously and will only use your personal information to deliver our services.

Full details of what information we collect and how we use it can be found in our Privacy Policy, found at https://about.hatchplan.co.uk/privacy-policy.

Sometimes, we may need to pass your personal information to other organisations (e.g. if you apply to take out a financial product or service we’ll need to pass certain personal details to the product or service provider). Your personal information may be transferred electronically (e.g. by email or over the internet) and we, or any relevant third party, may contact you in future by what we believe to be the most appropriate means of communication at the time (e.g. telephone/ email /letter etc.).

The organisations to whom we may pass your details also have their own obligations to deal with your personal information appropriately. Sometimes a product or service may be administered from a country outside Europe. If this is the case, the firm must put a contract in place to ensure that your information is adequately protected.

By agreeing to these terms and conditions and using the Service, you consent to the transfer of personal information in accordance with the protections outlined above. We will never share your data or information with any third party except when it is directly required to provide the services you have requested, as outlined above, or where you have given us explicit permission in advance.

If you are concerned about any aspect of our privacy arrangements please speak to us.

6. Data Protection

Your data will be stored by Hatch using appropriate safeguards to maintain its privacy and security, as further outlined in our Privacy Policy (https://about.hatchplan.co.uk/privacy-policy).

Under the terms of the General Data Protection Regulation (GDPR) you have the following rights:

  • You can ask us for a copy of the personal information we hold about you; we will provide this free of charge.

  • You can inform us of any changes to your personal information, or if you want us to correct any of the personal information we hold about you.

  • In certain situations, you can ask us to erase the personal information we hold about you, or object to particular ways in which we are using your personal information. Please note that we may need to retain certain information for recordkeeping purposes, to complete any transactions that you began prior to your request, or for other purposes as required or permitted by applicable law.

  • Where we are using your personal information on the basis of your consent, you are entitled to withdraw that consent at any time.

  • Moreover, where we process your personal information based on legitimate interest or the public interest, you have the right to object at any time to that use of your personal information by contacting support@hatchplan.co.uk

For security reasons we may ask for proof of your identity before we disclose information about you, or to you, via email or over the telephone.

7. Communicating with you

By using any part of the service, you agree to be contacted by Hatch or VouchedFor via phone, email or post for the purposes of providing the Service, as described above.

Our normal ways of communicating with you are by telephone, post, e-mail, SMS text message or in person. Our communications will be in English.

Financial Planning Service Terms

1. The Financial Planning Service

The Hatch Financial Planning Service is the online service whereby users can build and update a financial plan.

2. Disclaimer of Liability

Although Hatch is regulated and authorised by the FCA, use of the Financial Planning Service does not, in itself, constitute regulated financial advice.

The forecasts produced by the financial planning software are for illustration purposes only and are not guaranteed. It is up to the user receiving the financial plan to ensure that any information used to create the forecast is true and accurate.

Any actions you take after viewing the plan should be based on:

  • your own further investigations,

  • the recommendations of a regulated service outlined below under ‘Advisory Services’
    or

  • the advice provided by a financial adviser.

Neither Hatch nor VouchedFor may be held liable for any consequences of any actions you take, unless you have taken our advice as part of our Advisory Services, as defined below.

3. Third Party Access

Hatch takes protection of users’ personal and financial information very seriously and so we will never give access to a financial plan without the user’s explicit permission.

Users may request that their financial plan is shared with a financial adviser. In order to do this, the financial adviser must have an active profile on www.vouchedfor.co.uk. The financial adviser will be given the ability to view, edit and comment on the user’s financial plan for the purposes of providing financial guidance or as part of a financial advice service.

Neither Hatch or VouchedFor are responsible for guidance, advice or recommendations that a financial adviser makes as a result of using the Financial Planning Service. If you choose to speak to a financial adviser, you may have to agree to additional terms and conditions which are independent of and separate to any terms or agreement with Hatch and/ VouchedFor.

Financial Coaching Service Terms

1. The Financial Coaching Service

Financial Coaching is where a Coach provides financial guidance to a Client. Financial guidance is the process of understanding the Client’s goals and financial circumstances and offering suggestions on what the Client could do to achieve those goals. Where relevant, the Coach will explain the different options available and outline the pros and cons of each.

Hatch is committed to ensuring that all financial coaches offer a high quality service and always put the needs of their clients first. If you feel that your experience has not met our high standards then you may make a complaint. To do so, send an email to support@hatchplan.co.uk, including the details of your complaint. You will receive an initial response within 48 hours.

2. Financial Guidance

Financial Coaching is not regulated financial advice, and the Coach is not a regulated individual. The Coach will not offer any advice that is regulated, such as which funds to invest in, which mortgage or insurance products to purchase or whether or not to transfer a pension. This means that it is the Client’s responsibility to ensure that any actions they take as a result of financial coaching are right for them. They would not be covered by the government’s Financial Services Compensation Scheme or by TW11 Wealth Management Limited if something goes wrong.

Users who do require regulated services will be referred to one of our regulated services (covered under ‘Advisory Services Terms’). These services are regulated and authorised to provide product recommendations and/or financial advice and so are protected by the Financial Services Compensation Scheme.

If the Client has more complex needs such that our Advisory Services are not suitable then the Coach will help the Client find an Independent Financial Adviser instead. There may be an additional charge for the services of a Financial Adviser.

Advisory Services Terms

This section outlines the terms and conditions that apply specifically to the financial services (both regulated and non-regulated) that may be accessed by clients.

The regulated financial services available to clients are:

  • Investments

  • Pensions

  • Mortgages

  • Insurance & Protection

The non-regulated financial services available to clients are:

  • Wills

  • Savings

  • Budgeting

  • Bill Switching

Financial crime

We are obliged to put in place controls to prevent our business from being used for money laundering and other forms of financial crime.

We’ll verify your identity before undertaking any regulated business with you. To do this we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning. The check may leave a ‘footprint’ on your credit file but it will not affect your credit rating.

1. Investments

Users who choose to invest will have access to our Online Investment Service.

Unless we tell you otherwise, we’ll treat you as a retail client for investment business. This means that you are given the highest level of protection available under the UK’s regulatory system.

Independent and Restricted Advice

We offer independent investment advice to any clients who:

  • Have signed up to use the Financial Coaching Service (see above).

  • Have been recommended as suitable for the Online Investment Service by their Financial Coach.

  • Complete in full the Online Investment Service process.

It is still possible for clients to use the Online Investment Service if they are not signed up to the Financial Coaching Service or have not been recommended to use the service by their Financial Coach. However, clients in these circumstances will be considered to have received restricted investment advice.

Clients who wish to ensure that they only receive independent investment advice must sign up to the Financial Coaching Service and follow the guidance of their Financial Coach.

Risk Warnings

Relevant risk warnings will be advised to you throughout the advice process and suitability report.

The value of investments may go down as well as up, and you may not get back the amount invested. Levels of income from investments may fluctuate and past performance is not necessarily a guide to future performance. We cannot be held liable for any depreciation in the value of investments arranged for you.

Investment Fees

You will pay for our investment service through product charging. We will not charge you until we have agreed with you how we are to be paid.

Client Money

For your additional security we do not handle client’s money. We never accept a cheque made out to us (unless it is a cheque in settlement of our fees or other charges or disbursements for which we have sent you an invoice). We do not handle cash.

Additional Terms

Additional terms and conditions apply, and will be clearly displayed when setting up an account on the Online Investment Service. Where there is a contradiction, those terms and conditions should override this document, except in the case of determining whether someone has received independent or restricted investment advice, for which these terms are to be given priority.

 

2. Third Party Providers

To deliver the best possible service, clients may be provided access to a specific third party company or service. We always undertake all reasonable steps to ensure that these services are the best of their kind for a given client’s needs.

Occasionally, the Coach or Hatch may pass information about the Client to a third party directly (for instance, contact information and/or some relevant financial information). This is so that the third party can offer a service or product to the Client. The Client’s information will never be shared or sold except for the purposes of delivering a service the Client has requested.

These third party services will have their own terms of service and may have their own paid service. Neither Hatch or the Coach are responsible for the content or quality of any third party service.

Additional Terms

1. Intellectual Property

Hatch owns all the intellectual property rights relating to the Service and the Website, including the designs, text, database, graphics and layouts, and you agree not use or copy any part of them without our express permission in writing.

You agree not to download, reproduce, copy, resell or exploit for any commercial purposes, any aspect of the Service, or to use automated means to download data from the Service (including without limitation, spiders, robots, crawlers or data mining tools, but excepting standard internet search engines).

Users are not permitted to decompile or disassemble, reverse engineer or otherwise attempt to discover any source code contained in the Website.

2. Complaints

If you are unhappy with our advice or any aspect of our services, we encourage you to contact us as soon as possible. We’ll do our best to resolve your concerns.

Telephone: 0203 111 0589

Email: support@hatchplan.co.uk

In writing: Hatch, 8 Waldegrave Road, Teddington, TW118HT

We have a complaints procedure and we can provide further details on request. If you do have a complaint, and you are not happy with our response, the Financial Ombudsman Service (FOS) may be able to help. The FOS settles disputes between financial services business and their clients. Full details are available at www.financial-ombudsman.org.uk.

If your complaint relates to products or services you have bought from us online, or by other electronic means such as by email, you may refer your complaint to the online dispute resolution (ODR) platform at http://ec.europa.eu/odr.

The Financial Services Compensation Scheme (FSCS) is the UK’s statutory compensation fund for customers of authorised financial services firms who are unable to pay claims against them, usually because they have gone out of business.

You may be able to claim compensation from the FSCS if we can’t meet our obligations. The amount of compensation available will depend on the type of business and the circumstances of the claim. Further information is available from the FSCS at www.fscs.org.uk.  

3. Changes to the agreement

Hatch reserves the right to change or update these Terms from time to time. As a User of the Service, you are responsible for informing yourself of any updates of these Terms by visiting this section. Any significant changes in the Terms will be notified by an announcement on the Website and/or an email to active Users.

4. Governing law & jurisdiction

Any disputes arising in connection with this agreement shall be subject to the exclusive jurisdiction of the English courts.

If any provision of these Terms is held to be illegal or unenforceable such provision shall be severed and the remainder of these Terms shall remain in full force and effect, unless the business purpose of the contract between us is substantially frustrated as a result.

Contact Us

If you have a question or concern about any aspect of our services please contact us at:

  • Telephone: 0203 111 0589

  • Email: support@hatchplan.co.uk

  • Website: www.hatchplan.co.uk

  • In writing: Hatch, 8 Waldegrave Road, Teddington, TW11 8HT