Privacy Policy for Elder Bloom Advisors
Elder Bloom Advisors is committed to protecting the privacy and security of your personal information. This Privacy Policy describes how we collect, use, and share information when you engage with our services, in compliance with applicable data protection laws, including the UK General Data Protection Regulation (UK GDPR).
Our service provides comprehensive financial planning and advisory services tailored for retirees, focusing on wealth preservation and lifestyle maintenance in later life. We understand the sensitive nature of the financial and personal information you entrust to us.
1. Information We Collect
We collect various types of personal information, which may include:
- Identity Data: Name, date of birth, marital status, nationality, and government-issued identification.
- Contact Data: Residential address, email address, and telephone number.
- Financial Data: Income, assets (e.g., property, savings, investments), liabilities (e.g., mortgages, loans), pension details, bank account details, and tax information.
- Health Data: Information relevant to long-term care financing or specific insurance products, strictly with your explicit consent where required.
- Transaction Data: Details about payments to and from you, and other details of products and services you have purchased from us.
- Technical Data: IP address, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access our online platform.
2. How We Collect Your Information
We use different methods to collect data from and about you, including:
- Direct Interactions: You may give us your Identity, Contact, and Financial Data by filling in forms or by corresponding with us by post, phone, or in person. This includes personal data you provide when you apply for our services, request marketing information, or engage in consultations.
- Automated Technologies or Interactions: As you interact with our online platform, we may automatically collect Technical Data about your equipment, browsing actions, and patterns. We collect this personal data by using cookies and other similar technologies.
- Third Parties or Publicly Available Sources: We may receive personal data about you from various third parties and public sources, such as identity verification services or publicly accessible registers, where relevant and permissible by law.
3. How We Use Your Information
We use your personal information primarily to provide our financial planning and advisory services. Specific uses include:
- To administer and manage your financial plans, investments, and related services.
- To assess your financial situation and provide tailored advice on pension drawdown, estate planning, long-term care financing, and investment management.
- To communicate with you regarding your accounts, policies, and our services.
- To comply with legal and regulatory obligations, including anti-money laundering and know-your-client requirements.
- To improve our services and online platform based on user feedback and analytical data.
- For internal record keeping and administrative purposes.
We will only use your personal data when the law allows us to. Most commonly, we will use your personal data in the following circumstances:
- Where we need to perform the contract we are about to enter into or have entered into with you.
- Where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests.
- Where we need to comply with a legal or regulatory obligation.
- Where you have given your explicit consent for specific uses, such as processing health data.
4. Disclosure of Your Information
We may share your personal information with carefully selected third parties for the purposes outlined in this policy, including:
- Service Providers: Third-party administrators, custodians, and technology providers who assist us in delivering our services.
- Professional Advisors: Lawyers, accountants, and auditors who provide professional services to us.
- Regulatory and Legal Bodies: Where required by law or regulation, or to prevent fraud or financial crime.
- Financial Product Providers: Insurance companies, pension providers, or investment platforms, only as necessary to implement your financial plans and with your prior knowledge.
We require all third parties to respect the security of your personal data and to treat it in accordance with the law. We do not allow our third-party service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes and in accordance with our instructions.
5. Data Security
We have implemented appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors, and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.
We have procedures in place to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.
6. Data Retention
We will only retain your personal data for as long as necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, accounting, or reporting requirements. To determine the appropriate retention period for personal data, we consider the amount, nature, and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means, and the applicable legal requirements.
Generally, we retain client records for a minimum of seven years after the termination of the client relationship, or longer if required by regulatory bodies or for legal dispute resolution.
7. Your Legal Rights
Under certain circumstances, by law, you have rights under data protection laws in relation to your personal data. These include the right to:
- Request access to your personal data (commonly known as a "data subject access request").
- Request correction of the personal data that we hold about you.
- Request erasure of your personal data.
- Object to processing of your personal data where we are relying on a legitimate interest.
- Request restriction of processing of your personal data.
- Request the transfer of your personal data to you or to a third party.
- Withdraw consent at any time where we are relying on consent to process your personal data.
If you wish to exercise any of these rights, please contact us using the details provided below.
8. Contact Us
If you have any questions about this Privacy Policy or our data processing practices, please contact us:
Elder Bloom Advisors
38 Bramblewood Lane,
Suite 201,
Guildford, Surrey,
GU1 2NY,
United Kingdom
9. Changes to this Privacy Policy
We may update this Privacy Policy from time to time. Any changes will be posted on this page with an updated revision date. We encourage you to review this Privacy Policy periodically to stay informed about how we are protecting your information.